Common use of Distribution of Residual Assets Clause in Contracts

Distribution of Residual Assets. Section 2.5.8(a) provides that following satisfaction of all liabilities to Participants, any residual assets shall be distributed to the Employer. a. Plan Provision - Residual assets shall revert to the Employer b. Residual assets shall be allocated among Participants. Each Participant shall receive an allocation equal to a percentage of the Residual Assets of the Plan, such percentage to equal the ratio that the Present Value of a monthly life annuity, payable at Normal Retirement Age, of one percent (1%) of his Average Monthly Compensation bears to the Present Value of such annuities for all Participants. The Plan shall use reasonable actuarial factors for such allocation.

Distribution of Residual Assets. Section 2.5.8(a) provides that following satisfaction of all liabilities to Participants, any residual assets shall be distributed to the Employer. ☐ a. Plan Provision - Residual assets shall revert to the Employer Employer ☐ b. Residual assets shall be allocated among Participants. Each Participant shall receive an allocation equal to a percentage of the Residual Assets of the Plan, such percentage to equal the ratio that the Present Value of a monthly life annuity, payable at Normal Retirement Age, of one percent (1%) of his Average Monthly Compensation bears to the Present Value of such annuities for all Participants. The Plan shall use reasonable actuarial factors for such allocation.

Distribution of Residual Assets. Section 2.5.8(a2.5.9(a) provides that following satisfaction of all liabilities to Participants, any residual assets shall be distributed to the Employer.. SAMPLE o a. Plan Provision - Residual assets shall revert to the Employer o b. Residual assets shall be allocated among Participants. Each Participant shall receive an allocation equal to a percentage of the Residual Assets of the Plan, such percentage to equal the ratio that the Present Value of a monthly life annuity, payable at Normal Retirement Age, of one percent (1%) of his Average Monthly Compensation bears to the Present Value of such annuities for all Participants. The Plan shall use reasonable actuarial factors for such allocation.

Distribution of Residual Assets. Section 2.5.8(a2.5.9(a) provides that following satisfaction of all liabilities to Participants, any residual assets shall be distributed to the Employer. . SAMPLE ☐ a. Plan Provision - Residual assets shall revert to the Employer Employer ☐ b. Residual assets shall be allocated among Participants. Each Participant shall receive an allocation equal to a percentage of the Residual Assets of the Plan, such percentage to equal the ratio that the Present Value of a monthly life annuity, payable at Normal Retirement Age, of one percent (1%) of his Average Monthly Compensation bears to the Present Value of such annuities for all Participants. The Plan shall use reasonable actuarial factors for such allocation.