Nonforfeitable Clause Samples
A Nonforfeitable clause ensures that certain rights or benefits, once granted, cannot be lost or taken away, regardless of future events or actions. In practice, this often applies to employee benefits such as pension contributions or vested stock options, meaning that once an individual has earned these benefits, they retain them even if they leave the company or the plan is terminated. The core function of this clause is to provide security and certainty to beneficiaries by protecting their accrued interests from forfeiture.
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Nonforfeitable. 4.1 The interest of the Participant in the balance in the Custodial Account shall at all times be nonforfeitable, but shall be subject to the fees, expenses and charges described in Article VII.
Nonforfeitable. Your interest in your ▇▇▇▇ ▇▇▇ is nonforfeitable.
Nonforfeitable. Your interest in the balance in this HSA is nonforfeitable.
Nonforfeitable. A Participant’s rights under this Custodial Agreement shall at all times be nonforfeitable within the meaning of Code section 403(b)(1)(C) and related Treasury regulations. However, a Participant’s Custodial Account shall be subject to the fees, expenses, and charges described in Article VII.
Nonforfeitable. The depositor’s interest in the balance in the custodial account is nonforfeitable.
Nonforfeitable. The account owner's interest in the balance in this custodial account is nonforfeitable.
Nonforfeitable. Each Participant shall have a fully vested and nonforfeitable right to his or her Deductible Voluntary Account at all times.
Nonforfeitable. The account owner's interest in the balance in this trust account is nonforfeitable.
Nonforfeitable. Your interest in your SIMPLE IRA is nonforfeitable.
Nonforfeitable. Nonforfeitable means a vested interest attained by a Participant or Beneficiary in that part of the Participant's benefit under the Plan arising from the Participant's Service, which claim is unconditional and legally enforceable against the Plan.