Xxxx Elective Deferral Account definition

Xxxx Elective Deferral Account means the account into which a Participant’s Xxxx Elective Deferrals are allocated and deposited. No contributions other than Xxxx Elective Deferrals and properly attributable earnings will be credited to each Participant’s Xxxx Elective Deferral Account; and gains, losses and other credits or charges will be allocated on a reasonable and consistent basis to such Xxxx Elective Deferral Account. The Plan will maintain a record of the amount of Xxxx Elective Deferrals in each Participant’s Xxxx Elective Deferral Account. Distributions from a Participant’s Xxxx Elective Deferral Account (other than corrective distributions) are not includible in the Participant’s gross income if the distribution is made after 5 years and after the Participant’s death, disability, or age 59½. Earnings on corrective distributions of Xxxx Elective Deferrals are includible in the Participant’s gross income in the same manner as earnings on corrective distributions of Pre-tax Elective Deferrals; however, corrective distributions of Xxxx Elective Deferrals are not includible in the Participant’s gross income.
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Xxxx Elective Deferral Account means the portion of the Elective Deferral Account attributable to Xxxx Elective Deferrals (i.e., that are subject to federal income tax at the time of their deferral to the Plan) which does not include amounts attributable to "in-Plan Xxxx rollover contributions" (as defined in Section 12.11). No contributions other than Xxxx Elective Deferrals and properly attributable earnings will be credited to each Participant's Xxxx Elective Deferral Account.
Sample 1
Xxxx Elective Deferral Account means the Account that is attributable to contributions to the Plan made pursuant to an election by the Participant under Section 5.04A.
Sample 1

Examples of Xxxx Elective Deferral Account in a sentence

  • For distributions made after December 31, 2007, an Eligible Retirement Plan shall include a Xxxx XXX as described in Code Section 408A; however, for taxable years beginning prior to January 1, 2010, the income restrictions that apply to a rollover from a traditional IRA into a Xxxx XXX will continue to apply to Participant Accounts as defined in paragraph 5.1 other than a Xxxx Elective Deferral Account.

  • If elected in the Adoption Agreement, Direct Rollover contributions described in Code Section 402A(c)(3) are permitted to be allocated to the Xxxx Elective Deferral Account.

  • Each Participant’s Xxxx Elective Deferral Account shall continue to be maintained and administered separately until it is completely distributed.

  • Forfeitures may not be allocated to a Xxxx Elective Deferral Account and no contributions other than designated Xxxx Elective Deferrals will be allocated.

  • Income, losses and other credits or charges must be separately allocated on a reasonable and consistent basis to the Participant’s Xxxx Elective Deferral Account and other accounts under the Plan to ensure that the Xxxx Elective Deferral account maintains a record of the Participant’s interest in the Plan.

  • If the Plan permits Xxxx Elective Deferral contributions, then a Participant's Pre-Tax Elective Deferrals shall be allocated to the Participant's Pre-Tax Elective Deferral Account and a Participant's Xxxx Elective Deferrals shall be allocated to the Participant's Xxxx Elective Deferral Account.

  • A "direct rollover" of a distribution from a Xxxx Elective Deferral Account (other than an "in-Plan Xxxx rollover contribution" (as defined in Section 12.11)) will only be made to another Xxxx Elective Deferral Account under an applicable retirement plan described in Code §402A(e)(1) or to a Xxxx XXX described in Code §408A, and only to the extent that the rollover is permitted under the rules of Code §402(c).

  • Furthermore, the Administrator may apply this paragraph by treating a Participant's Xxxx Elective Deferral Account separately from the Participant's other Accounts.

  • Furthermore, the Administrator may apply this Section by treating a Participant's Xxxx Elective Deferral Account separately from the Participant's other Accounts.


More Definitions of Xxxx Elective Deferral Account

Xxxx Elective Deferral Account which shall consist of a Participant’s interest in Xxxx Elective Deferrals and earning and losses thereon.
Sample 1

Related to Xxxx Elective Deferral Account

  • 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

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

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

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • 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.

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

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

  • 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.

  • Plan Year means the calendar year.

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

  • 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.

  • 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.

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

  • 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.

  • 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 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.

  • 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.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • 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.

  • 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.

  • 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.

  • Company Matching Contributions means the Company contributions described in Section 3.4.

  • 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.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.