IQVIA Benefits Handbook
FORFEITURES
If you terminate employment, your account balances that are not vested are forfeited at the Accounting Date coinciding with or following the day on which your employment ends. Any amounts forfeited do not go back to the Employer, but first are used to pay expenses of Plan administration, including reducing future employer matching and profit sharing contributions to the Plan, and then used to reinstate forfeited amounts as described below.
The remaining forfeitures, if any, are then allocated to the accounts of remaining participants on the Allocation Date coinciding with or following the Accounting Date such amounts are forfeited. Reinstatement of amounts forfeited or allocations of forfeitures shall be made to the type of account from which such forfeitures came, so that, for example, forfeitures from a participant's Profit Sharing Account shall be used to reinstate other Profit Sharing Accounts or allocated across all Profit Sharing Accounts. Allocations of forfeitures across all of a particular type of account shall be made in accordance with the rules for allocating contributions to such accounts. Under no circumstances will participants share in additional forfeitures after termination of employment.
Amounts forfeited will be reinstated in the following situations:
1. The Participant either was not paid his or her entire vested account balance or was not vested in his or her account balance and returns to the employment of the Employer without incurring five consecutive Breaks in Service.
2. The Participant was paid his or her entire vested account balance, returns to the employment of the employer without incurring five consecutive Breaks in Service, and, within the period beginning on the day of his or her return and ending five years from that date, repays to the Plan in cash an amount equal to the vested account balance paid to him or her. Participants are responsible for notifying the Plan Administrator that they have returned to the employment of the Employer. Upon such notice, the Plan Administrator shall notify Participants who are reemployed and are eligible for this reinstatement right that such reinstatement of forfeited amounts is contingent upon repayment.
In either situation, reinstatement shall be made as of the Allocation Date coinciding with or following the Participant's return and repayment, if any. If you were fully vested when you terminated, you do not have the opportunity to repay your distribution.