Idearc Union Pension Plan and Trust Sample Clauses

Idearc Union Pension Plan and Trust. Effective as of the Distribution Date, Idearc or a Designated Idearc Subsidiary shall establish a defined benefit pension plan (the “Idearc Union Pension Plan”) and related trust to provide retirement benefits to Idearc Individuals who are Represented Employees or Former VIS Employees who were union represented and, in either case, as of the Distribution Date participate in the Verizon Enterprises Management Pension Plan (the “VEMPP”), the Verizon Pension Plan for New York and New England Associates or the Verizon Pension Plan for Mid-Atlantic Associates. A Former VIS Employee who is a participant in the VEMPP as of the Distribution Date shall be considered union represented only if the employee was union represented on the date the employee terminated employment and became a Former VIS Employee. Idearc shall be responsible for taking or causing to be taken all necessary, reasonable, and appropriate action to establish, maintain and administer the Idearc Union Pension Plan so that it qualifies under Section 401(a) of the Code and the related trust thereunder is exempt from Federal income taxation under Section 501(a) of the Code.
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Related to Idearc Union Pension Plan and Trust

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  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

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