Qualified Profit Sharing Plan definition

Qualified Profit Sharing Plan means the AAR CORP. Employees’ Profit Sharing Plan, established effective June 1, 1965, and as amended from time to time, and each successor or replacement plan.
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Qualified Profit Sharing Plan means the La-Z-Boy Incorporated Retirement Contribution and Profit Sharing Plan (formerly known as the “La-Z-Boy Incorporated Employees’ Amended Profit Sharing Plan”) or the qualified plan of the Company or Subsidiary having employer profit sharing allocations applicable to the Participant.
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Qualified Profit Sharing Plan means the tax qualified defined contribution profit sharing plan known as the Leavitt Tube Company Salaried Employees Profit Sharing and 401(k) Plan.
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Examples of Qualified Profit Sharing Plan in a sentence

  • If a Participant dies before distribution to him of the full amount of his Supplemental Salary Deferral Account, his Supplemental Company Account and his Supplemental Profit Sharing Account, any remaining amount shall be distributed to his beneficiary designated under the Qualified Profit Sharing Plan.

  • If a Participant has not designated a beneficiary under the Qualified Profit Sharing Plan, or if no designated beneficiary is living on the date of distribution hereunder, amounts distributable pursuant to this paragraph shall be distributed to those persons or entities entitled to receive distributions of the Participant's accounts under the Qualified Profit Sharing Plan.

  • The amount of a hardship distribution, and the procedures for requesting and receiving such a distribution, shall satisfy the requirements set forth in the Qualified Profit Sharing Plan with respect to a hardship distribution from his Qualified Salary Deferral Account.

  • A request for a hardship distribution pursuant to this paragraph shall be made separate and apart from a request for a hardship distribution under the Qualified Profit Sharing Plan, and a request for a hardship distribution under the Qualified Profit Sharing Plan shall not automatically be deemed a request for a hardship distribution hereunder.

  • If a Participant does not elect a time or form of distribution under this Article, such distribution shall be made at the same time and in the same method as is applicable to distributions made with respect to his accounts under the Qualified Profit Sharing Plan.

  • A Participant shall be entitled to request a distribution from his Supplemental Salary Deferral Account, prior to his termination of employment with the Company and all Affiliated Companies, in order to satisfy a hardship as defined under the Qualified Profit Sharing Plan.

  • Notwithstanding the preceding sentence, an election made by a Participant under the Qualified Profit Sharing Plan with respect to the form of distribution of his accounts thereunder following termination of employment, or the date for commencement of payment thereof, shall not be effective with respect to the form of payment or date for commencement of payment of his accounts pursuant to this Article IV, unless such election is expressly approved in writing by the Company.

  • All amounts distributable under this Article IV to a Participant, or to his beneficiary in the event of his death, shall be distributed in the same manner and at the same time as is applicable to the distribution of the Participant's accounts under the Qualified Profit Sharing Plan following his termination of employment with the Company and all Affiliated Companies for any reason including death.


More Definitions of Qualified Profit Sharing Plan

Qualified Profit Sharing Plan means the Guilford Mills, Inc. Profit-Sharing Plan as amended from time to time, and each predecessor, successor or replacement defined contribution pension plan.
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Qualified Profit Sharing Plan means the AAR CORP. Employees'
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Qualified Profit Sharing Plan means the AAR CORP. Employees'
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Related to Qualified Profit Sharing Plan

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Plan Year means the calendar year.

  • 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.

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

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

  • Nonelective Contribution means an amount contributed by a participating

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.