Vesting of Matching Subaccount Sample Clauses

The "Vesting of Matching Subaccount" clause defines how and when the funds or benefits allocated to a participant's matching subaccount become fully owned by the participant. Typically, this clause outlines a schedule—such as graded or cliff vesting—under which employer matching contributions to a retirement or savings plan incrementally become non-forfeitable over time. For example, an employee may gain ownership of a certain percentage of the matching funds each year of service. The core function of this clause is to incentivize employee retention and clarify the conditions under which matching contributions are earned, thereby reducing disputes over entitlement to employer-provided benefits.
Vesting of Matching Subaccount. The Matching Subaccount of a Member employed by Support Net shall be fully vested and nonforfeitable effective April 1, 2000.
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Vesting of Matching Subaccount. The Matching Subaccount of a Member employed by SBM shall be fully vested and nonforfeitable effective August 1, 2000.
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Vesting of Matching Subaccount. The Matching Subaccount of a Member employed by ▇▇▇▇ shall be fully vested and nonforfeitable effective April 2, 2001.
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Vesting of Matching Subaccount. Savings Participant shall be fully vested in all amounts credited to the matching subaccount of his CRI Savings Account as of December 31, 2002, in connection with the plan merger. Index
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Related to Vesting of Matching Subaccount

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.