Voluntary Deferral Account Balance definition

Voluntary Deferral Account Balance means the sum of an Employee’s Voluntary Deferrals plus interest, accrued as described in Article 3.
Sample 1

Examples of Voluntary Deferral Account Balance in a sentence

  • The Voluntary Deferral Account Balance shall be an amount equal to the portion of the Variable Compensation Awards credited to the Voluntary Deferral Account plus the gains, losses, or earnings from the date of crediting to the valuation date.

  • However, the Plan Committee, in its sole discretion, may ignore any change in the form of payment elected by the Participant if it determines that the ability to make such changes causes the Voluntary Deferral Account Balance to become taxable to the Participant prior to actual receipt of the deferral payments.

  • Within sixty (60) days following an Employee’s Termination of Employment within twenty-four (24) months following the occurrence of a Change of Control, the Company shall pay the Employee’s Voluntary Deferral Account Balance to the Employee in a lump sum, in lieu of any other benefit under this Plan.

  • The Corporation shall pay or commence to pay the Voluntary Deferral Account Balance no later than January 31 of the year specified, unless payment would cause the Corporation to lose a tax deduction in which case the Corporation may postpone payment until the beginning of the next fiscal year or longer if necessary to retain a tax deduction.

  • Absent an election by the Participant, the Voluntary Deferral Account Balance shall be paid in a cash lump sum payment.

  • The Corporation shall pay the Voluntary Deferral Account Balance in a cash lump sum or annual installments over a period of up to 15 years.

  • If the Participant continues to be employed by the Corporation to the Deferred Payment Year, the Corporation shall commence payment to the Participant of the Voluntary Deferral Account Balance.

  • Notwithstanding the foregoing, if, on the date of the Employee’s Termination of Employment the Employee had no attained at least age fifty-five (55) with at least ten (10) years of service with the Company and its Affiliates, and has a Voluntary Deferral Account Balance of less than $25,000, such Employee’s Voluntary Deferral Account Balance shall be distributed in a single lump sum.

  • Within sixty (60) days following an Employee’s Termination of Employment prior to Normal Retirement for reasons other than Death, Disability or Change of Control, the Company shall pay the Employee’s Voluntary Deferral Account Balance to the Employee in the form selected by the Employee pursuant to Section 2.4, in lieu of any other benefit under this Plan.

  • If the employment of a Participant is terminated prior to age 55 for reasons other than Leave of Absence or death, the Corporation shall pay the Voluntary Deferral Account Balance to the Participant in a cash lump sum as soon as practicable after the date of such termination; unless payment would cause the Corporation to lose a tax deduction, in which case the Corporation may postpone payment until the beginning of the next fiscal year or longer if necessary to retain a tax deduction.

Related to Voluntary Deferral Account Balance

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • Employer Contributions means all amounts paid into ASRS by an

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.