Defined Contribution Plan Asset Transfers Sample Clauses

Defined Contribution Plan Asset Transfers. (i) Employees of the USS/Kobe Tubular Business currently participate solely in the following defined contribution pension plans: The USS/Kobe Steel Company Savings Fund Plan For Salaried Employees and the USS/Kobe Steel Company and USWA Savings Program 401(k) Plan (together, the "USS/Kobe Savings Plans"). As of the Tubular Spinoff, Tubular Employees will cease to be eligible to actively participate in the USS/Kobe Savings Plans. As soon as practicable following the Tubular Spinoff, NewTube will establish a defined contribution plan or plans (the "NewTube Spinoff Savings Plans") covering the Tubular Employees. In accordance with paragraph (ii) below, RTI Opco will cause to be transferred from each USS/Kobe Savings Plan to the trust established by NewTube to hold assets of the corresponding NewTube Spinoff Savings Plan assets equal to the Aggregate Account Balances (as defined in paragraph (iii) below) of the Tubular Employees under the applicable USS/Kobe Savings Plans. Contingent upon the transfer of the DC Transfer Amount (as defined in paragraph (ii) below) to each NewTube Spinoff Savings Plan, NewTube and the NewTube Spinoff Savings Plans will assume all liabilities and obligations of USS/Kobe, RTI Opco and their Affiliates and the USS/Kobe Savings Plans, respectively, with respect to Tubular Employees under the USS/Kobe Savings Plan from which that transfer was made and will become with respect to such Tubular Employees responsible for all acts, omissions and transactions under or in connection with such USS/Kobe Savings Plan, whether arising before or after the Closing, other than to the extent resulting from acts or omissions of RTI Opco or its Affiliates after the Closing. (ii) All transfers to the NewTube Spinoff Savings Plans pursuant to paragraph (f)(i) above will be made in accordance with the provisions of this paragraph (f)(ii), and no such transfer will be made with respect to a USS/Kobe Savings Plan until such date as RTI Opco has been provided evidence reasonably satisfactory to it (x) that NewTube has established a trust (or trusts) to hold the assets of the corresponding NewTube Spinoff Savings Plans and (y) RTI Opco has been provided with either (A) an opinion of counsel, which opinion and counsel are reasonably satisfactory to RTI Opco, to the effect that the terms of the corresponding New Tube Spinoff Savings Plan satisfy the requirements for qualification under Sections 401(a) and 411(d)(6) of the IRC or (B) other evidence reasonably ...
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Related to Defined Contribution Plan Asset Transfers

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Rollover Contributions and Transfers The Custodian shall have the right to receive rollover contributions and to receive direct transfers from other custodians or trustees. All contributions must be made in cash or check.

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • City Contribution The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

  • Deemed Distribution and Recontribution Notwithstanding any other provision of this Article 13, in the event the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g) but no Liquidating Event has occurred, the Partnership's property shall not be liquidated, the Partnership's liabilities shall not be paid or discharged, and the Partnership's affairs shall not be wound up. Instead, the Partnership shall be deemed to have distributed the Partnership property in kind to the General Partner and Limited Partners, who shall be deemed to have assumed and taken such property subject to all Partnership liabilities, all in accordance with their respective Capital Accounts. Immediately thereafter, the General Partner and Limited Partners shall be deemed to have recontributed the Partnership property in kind to the Partnership, which shall be deemed to have assumed and taken such property subject to all such liabilities.

  • Qualified HSA Funding Distribution If you are eligible to contribute to a health savings account (HSA), you may be eligible to take a one-time tax-free HSA funding distribution from your IRA and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of high deductible health plan coverage (i.e., single or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. For further detailed information, you may wish to obtain IRS Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans.

  • Return of Contribution Nonrecourse to Other Members Except as provided by law, upon dissolution, each member shall look solely to the assets of the Company for the return of the member's capital contribution. If the Company property remaining after the payment or discharge of the Company's debts and liabilities is insufficient to return the cash contribution of one or more members, such member or members shall have no recourse against any other member or the Board.

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