Forfeiture Suspense Account definition

Forfeiture Suspense Account means a recordkeeping account established by the Administrator for the temporary holding of forfeiture amounts and earnings on such amounts.
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Forfeiture Suspense Account means the amounts from the Forfeiture Reserve Account in which an Eligible Class Employee has a contingent interest pursuant to S under section 8.0237.06.
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Forfeiture Suspense Account means the account established and maintained by the Committee to hold Forfeitures.
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Examples of Forfeiture Suspense Account in a sentence

  • Forfeitures under subsection (a) above will initially be transferred to a Forfeiture Suspense Account and later either be restored to the Participant’s applicable Account or Accounts or be transferred to a Forfeiture Account as follows.

  • In the event any Forfeitures remain in the Forfeiture Suspense Account as of the last day of the Plan Year in which they occur, such Forfeitures shall be used as provided in the preceding sentence (and also, as necessary, to reduce the Employer’s Basic Contribution or Matching Contribution for the following Plan Year) as promptly as possible after the end of such Plan Year, but in no event later than the last day of the following Plan Year.

  • The Forfeiture Suspense Account receives any Forfeitures attributable to such Participant from the Participant’s Forfeitable Account Balance that are not Vested when the Participant incurs a Break in Service with the Plan Sponsor that made the Plan Sponsor Contributions to the Forfeitable Account Balance.

  • The source of the dollar value to be credited to the Participant’s Account shall first be the Forfeiture Suspense Account or, if necessary, Employer contributions.

  • In the alternative, the Benefit Administration Committee may from time to time provide for payment of some or all of such expenses from amounts in the Forfeiture Suspense Account.

  • In the event a Participant or Beneficiary is located subsequent to his or her benefit being reallocated, such benefit shall be restored, unadjusted for earning or losses, from the Forfeiture Suspense Account or, if such Forfeitures are insufficient, from an additional Employer contribution.

  • The non-vested portion of such Accounts which has not yet been forfeited shall be transferred to the Forfeiture Suspense Account.

  • Such Forfeitures shall be allocated to the Forfeiture Suspense Account and used as provided in Section 3.5(b).

  • If the Forfeiture Suspense Account application does not fully offset expenses and administration fees, the Plan fiduciaries shall apply funds in the Settlement Proceeds Account to expenses and administration fees charged to the Plan during that Plan year.

  • Forfeitures allocated to the Forfeiture Suspense Account shall be used for the purposes provided in Sections 4.4, 5.1(h) and 5.12, as such events occur, or to reduce the Employer’s Basic Contribution or Matching Contribution for such Plan Year.


More Definitions of Forfeiture Suspense Account

Forfeiture Suspense Account means an account to which Forfeitures are credited pursuant to subsection 9.5.
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Forfeiture Suspense Account means each individually, or in the aggregate, the Retirement Plan Forfeiture Suspense Account and the ESOP Suspense Account which hold Account balances after a Participant's termination of Service and prior to such balances becoming Employer Contribution Forfeitures. Provided records are kept which protect the Participants' benefits, rights and features as described in Treasury Regulation Section 1.401(a)(4)-4 and the "Section 411(d)(6) protected benefits" as described in Treasury Regulation Section 1.411(d)-4, the recordkeeper for the Plan may establish and maintain all such Accounts, for recordkeeping purposes only, as a single Forfeiture Suspense Account.
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Forfeiture Suspense Account means an account established pursuant to section 7.2 and maintained as provided in section 7.4(i) with respect to a Forfeitable Interest of a Participant who has incurred a One Year Break in Service.
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Forfeiture Suspense Account means the account established and maintained to hold Forfeitures.
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Forfeiture Suspense Account means the amounts from the Forfeiture Reserve Account in which an Eligible Class Employee has a contingent interest pursuant to Section8.02.
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Related to Forfeiture Suspense Account

  • Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.

  • 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.

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

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • 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.

  • Share Account means the brokerage account established by the Agent for each Participant to which shares of Common Stock purchased under the Plan are credited in accordance with Section 9. The Share Account will be established pursuant to a separate agreement between each Participant and the Agent.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Expense Account The account established pursuant to Section 10.3(c).

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

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

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.