Eligible Individual Account Plans (EIAP) Law and Legal Definition

Eligible Individual Account Plans (EIAP) is defined as "an individual account plan which is (i) a profit-sharing, stock bonus, thrift, or savings plan; (ii) an employee stock ownership plan; or (iii) a money purchase plan which is invested primarily in qualifying employer securities." Shanehchian v. Macy's, Inc., 2009 U.S. Dist. LEXIS 71997 (S.D. Ohio Aug. 13, 2009)