Payments to Authorized Former Participants and Current Sample Clauses

This clause defines the rules and procedures for making payments to individuals who are either current participants or have previously participated in a plan or agreement and are now authorized to receive payments. It typically outlines eligibility criteria, the process for verifying authorization, and the timing or method of payment distribution. By establishing clear guidelines for who is entitled to receive payments and how those payments are processed, the clause ensures proper administration and reduces the risk of disputes or errors in payment allocation.
Payments to Authorized Former Participants and Current. Participants shall be calculated by the Settlement Administrator as follows: 1. The end-of-quarter balances for the Class Period of each Current Participant and each Authorized Former Participant are identified for each quarter; 2. All end-of-quarter balances identified in step 1 are summed together for each Current Participant and each Authorized Former Participant; 3. An average end-of-quarter balance for each Current Participant and each Authorized Former Participant is calculated for the Class Period (with a zero included as the balance for any quarter during which the individual did not participate in the Plan); 4. For each Current Participant and each Authorized Former Participant, the average end-of-quarter balance of step 3 is divided by the average end-of-quarter balance for the Class Period of all Current and Authorized Former Participants; 5. Each Current Participant and each Authorized Former Participant will receive the fraction of the total Net Settlement Amount which is calculated in step 4.
View SourceView Similar (5)
Payments to Authorized Former Participants and Current. Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows: 6.4.1 The Settlement Administrator shall obtain the following information from the Plan, through its former recordkeeper or otherwise: the quarter-ending account balances for all Class Members during the Class Period as well as the quarter-ending account balances in each of the four mutual funds offered as core investment options during the class period and the Company Stock Fund. 6.4.2 The Settlement Administrator shall obtain, in writing, an agreement between Class Counsel and the Settlement Administrator on the Net Settlement Amount, and the amount apportioned to each sub-class. The Net Settlement Amount shall be allocated to the sub-classes as follows: (a) 50% to the Recordkeeping Class (the “Recordkeeping Allocation”); (b) 20% to the Mutual Fund Sub-Class (the “Mutual Fund Allocation”); (c) 15% to the Technology Fund Sub-Class (the “Tech Fund Allocation”); (d) 10% to the Company Stock Fund Sub-Class (the “CSF Allocation”); and
View SourceView Similar (2)
Payments to Authorized Former Participants and Current. Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows: 6.4.1 The Settlement Administrator shall obtain from the Plans’ recordkeeper(s) the quarter-ending account balances for all Class Members during the Class Period as well as the quarter-ending account balances in the Fixed Interest Account, Premier Capital Appreciation Fund, Select Large Cap Value Fund, and Premier Core Value Equity Fund. 6.4.2 The Settlement Administrator shall obtain, in writing, an agreement among the Plan Fiduciary, Class Counsel, and the Settlement Administrator on the Net Settlement Amount, and the amount apportioned to the Class Members as follows: 6.4.3 For each Current Participant and Authorized Former Participant, the Settlement Administrator will calculate the total amount due to each Current Participant and Authorized Former Participant pursuant to Paragraphs 6.4.2. 6.4.4 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required distributions to Authorized Former Participants; and (b) instructing Defendants as to the amounts to be distributed to Current Participants and calculating the total amount to deposit in the Plans to fulfill this instruction. 6.4.5 Unless the Settling Parties agree in writing, the total amount of all checks to be written by the Settlement Administrator to Former Participants, plus the total amount of all credits that Defendants are instructed to make to Current Participants may not exceed the Net Settlement Amount. Nothing in this Paragraph 6.4.5 is intended to modify the requirements of Paragraph 6.5 below. In the event that the Settlement Administrator determines that the Plan of Allocation would otherwise require payments exceeding the Net Settlement Amount, the Settlement Administrator is authorized to make such changes as are necessary to the Plan of Allocation such that said totals do not exceed the Net Settlement Amount.
View Source
Payments to Authorized Former Participants and Current. Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows: 6.4.1 The Settlement Administrator shall obtain from the Plan recordkeeper the quarter-ending account balances in the Plan for each Class Member from 6.4.2 The Net Settlement Amount shall be divided into three portions: (1) the Artisan Small Cap Value Fund Portion (“Artisan Fund Portion”) shall be forty percent (40%) of the Net Settlement Amount; (2) the TCM 6.4.3 The Artisan Fund Portion will be allocated among Class Members as follows: a percentage of the Artisan Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the Artisan Small Cap Value Fund for each quarter from September 30, 2012 through June 22, 2015 divided by the sum of the quarter-ending net asset value of the Artisan Small Cap Value Fund for each quarter during that period. 6.4.4 The TCM Fund Portion will be allocated among Class Members as follows: a percentage of the TCM Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the TCM Small-Mid Cap Growth Fund for each quarter from June 30, 2010 through April 8, 2013 divided by the sum of the quarter-ending net asset value of the TCM Small-Mid Cap Growth Fund for each quarter during that period. 6.4.5 The Administrative Fee Portion will be allocated among Class Members as follows: a percentage of the Administrative Fee Portion that is the product of the sum of the participant’s quarter-ending balances invested in mutual funds in the Plan that paid revenue sharing to the Plan’s recordkeeper (“Revenue Sharing funds”) for each quarter from January 1, 2009 through December 31, 2019 divided by the sum of the 6.4.6 No amount shall be distributed to a Class Member that is ten dollars ($10.00) or less, because such an amount is de minimis and would cost more in processing than its value. All such amounts shall be retained in the Qualified Settlement Fund for distribution under Paragraph 6.13. 6.4.7 For each Current Participant and Authorized Former Participant (and their Beneficiaries and Alternate Payees), the Settlement Administrator will calculate the total amount due to each such person in accordance with Paragraphs 6.4.2 –6.4.5. 6.4.8 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required distributions to Authorized Former Participants; and (b) instructing the Pl...
View Source
Payments to Authorized Former Participants and Current. Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows: 6.4.1 The Settlement Administrator shall obtain from the Plan recordkeeper the quarter-ending account balances in the Plan for each Class Member from 6.4.2 The Net Settlement Amount shall be divided into three portions: (1) the Artisan Small Cap Value Fund Portion (“Artisan Fund Portion”) shall be forty percent (40%) of the Net Settlement Amount; (2) the TCM 6.4.3 The Artisan Fund Portion will be allocated among Class Members as follows: a percentage of the Artisan Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the Artisan Small Cap Value Fund for each quarter from September 30, 2012 through June 22, 2015 divided by the sum of the quarter-ending net asset value of the Artisan Small Cap Value Fund for each quarter during that period. 6.4.4 The TCM Fund Portion will be allocated among Class Members as follows: a percentage of the TCM Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the TCM Small-Mid Cap Growth Fund for each quarter from June 30, 2010 through April 8, 2013 divided by the sum of the quarter-ending net asset value of the TCM Small-Mid Cap Growth Fund for each quarter during that period. 6.4.5 The Administrative Fee Portion will be allocated among Class Members as follows: a percentage of the Administrative Fee Portion that is the product of the sum of the participant’s quarter-ending balances invested in mutual funds in the Plan that paid revenue sharing to the Plan’s recordkeeper (“Revenue Sharing funds”) for each quarter from January 1, 2009 through December 31, 2019 divided by the sum of the 6.4.6 No amount shall be distributed to a Class Member that is ten dollars ($10.00) or less, because such an amount is de minimis and would cost more in processing than its value. All such amounts shall be retained in the Qualified Settlement Fund for distribution under Paragraph 6.13. 6.4.7 For each Current Participant and Authorized Former Participant (and their Beneficiaries and Alternate Payees), the Settlement Administrator will calculate the total amount due to each such person in accordance with Paragraphs 6.4.2 –6.4.5. 6.4.8 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required distributions to Authorized Former Participants; and (b) instructing the Pl...
View Source

Related to Payments to Authorized Former Participants and Current

  • What Forms of Distribution Are Available from a ▇▇▇▇▇▇▇▇▇ Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Non-Duplication of Payment or Benefits For purposes of clarity, in the event of a Qualifying Pre-CIC Termination, any severance payments and benefits to be provided to the Executive under Section 3(b) will be reduced by any amounts that already were provided to the Executive under Section 3(a). Notwithstanding any provision of this Agreement to the contrary, if the Executive is entitled to any cash severance, continued health coverage benefits, or vesting acceleration of any equity awards (other than under this Agreement) by operation of applicable law or under a plan, policy, contract, or arrangement sponsored by or to which any member of the Company Group is a party (“Other Benefits”), then the corresponding severance payments and benefits under this Agreement will be reduced by the amount of Other Benefits paid or provided to the Executive.

  • Payments to Plan Participants and Their Beneficiaries (a) Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Plan participants and their beneficiaries in accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company. (b) The entitlement of a Plan participant or his or her beneficiaries to benefits under the Plan shall be determined by Company or such party as it shall designate under the Plan, and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plan. (c) Company may make payment of benefits directly to Plan participants or their beneficiaries as they become due under the terms of the Plan. Company shall notify Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to participants or their beneficiaries. In addition, if the principal of the Trust, and any earnings thereon, are not sufficient to make payments of benefits in accordance with the terms of the Plan, Company shall make the balance of each such payment as it falls due. Trustee shall notify Company where principal and earnings are not sufficient.

  • Payments to Owner Trustee Any amounts paid to the Owner Trustee pursuant to this Article VIII shall be deemed not to be a part of the Owner Trust Estate immediately after such payment.