Examples of Notional Accounts in a sentence
The Designated Third Party Administrator will maintain a record of each Notional Account, process investment selections, and otherwise be the record keeper of the Notional Accounts.
Eligible Executives shall not have voting rights or any other ownership rights with respect to any investment options selected as the measuring mechanism for the Notional Accounts established under this Section.
Notwithstanding Paragraph 1.9.03(a), in the event that assets held under the Participating Employer Account of the RCA Fund or the Grantor Trust Fund are not sufficient to provide all benefits payable therefrom, the Parent shall contribute to the RCA Fund or the Grantor Trust Fund, as is applicable, the amount of the insufficiency such that the Commuted Lump Sum Values and the value of the Notional Accounts are paid in full.
Notwithstanding Paragraph 1.9.02(a), in the event that assets held under the RCA Fund or the Grantor Trust Fund are not sufficient to provide all benefits payable therefrom, the Parent shall contribute to the RCA Fund or the Grantor Trust Fund, as is applicable, the amount of the insufficiency such that the Commuted Lump Sum Values and the value of the Notional Accounts payable from the RCA Fund and the Grantor Trust Fund are paid in full.
The Supplemental Retirement Contribution to which a Participant is entitled shall be credited to the Participant’s Notional Accounts as of the Deemed Deposit Date.
If after the provision of all such Commuted Lump Sum Values and the value of any Notional Accounts, as is applicable, to the Members, their Spouses, Beneficiaries and joint annuitants, there remain any Excess Assets in the RCA Fund or the Grantor Trust Fund, the Excess Assets shall revert to the Parent or shall be applied as the Parent may direct.
From and after the Signing Date until the applicable Plan Year End (the “Notional Account Transition Period”), except as otherwise required by Applicable Law, Seller shall administer the Notional Accounts in the ordinary course of business consistent with past practice.
Effective as of the applicable Plan Year End, Seller shall terminate, or cause to be terminated, each Contract with an Enterprise Partner in respect of the Notional Accounts.
All decisions which may be made by the Participants at a meeting may also be made by the signature (in person or by attorney duly appointed in writing) of an instrument in writing, in one or more counterparts, by at least 66-2/3% of all Participants, representing not less than 75% of the value of the Notional Accounts of all Participants.
Following the termination of the Plan, the Principal Company may permit existing Participants’ Notional Accounts to remain in the Plan, subject to their applicable terms and conditions, or secure the benefits through the purchase of annuities or insurance policies.