FREEZING OF PENSION PLAN BENEFITS. Effective Immediately After the Distribution Date, the accrued benefits with respect to Teledyne Technologies Individuals who, as of the Distribution Date, were participants under the ATI Pension Plan shall be frozen and such Individuals shall not accrue any additional benefits from and after the Distribution Date under the ATI Pension Plan. The assets and Benefit Liabilities with respect to such Individuals, determined as of the Distribution Date, shall be retained by the ATI Pension Plan and its related trust and paid therefrom when due under the terms of the ATI Pension Plan.
Appears in 6 contracts
Samples: Employee Benefits Agreement (Allegheny Technologies Inc), Employee Benefits Agreement (Teledyne Technologies Inc), Employee Benefits Agreement (Teledyne Technologies Inc)
