Common use of No Estoppel of Plan Clause in Contracts

No Estoppel of Plan. No person is entitled to any benefit under this Plan except and to the extent expressly provided under this Plan. The fact that payments have been made from this Plan in connection with any claim for benefits under this Plan does not (1) establish the validity of the claim, (2) provide any right to have such benefits continue for any period of time, or (3) prevent this Plan from recovering the benefits paid to the extent that the Plan Administrator determines that there was no right to payment of the benefits under this Plan. Thus, if a benefit is paid under this Plan and it is thereafter determined by the Plan Administrator that such benefit should not have been paid (whether or not attributable to an error by the Participant, the Plan Administrator, the Employer or any other person), then the Plan Administrator may take such action as the Plan Administrator deems necessary or appropriate to remedy such situation, including without limitation by (1) deducting the amount of any overpayment theretofore made to or on behalf of such Participant from any succeeding payments to or on behalf of such Participant under this Plan or from any amounts due or owing to such Participant by the Employer or any Affiliate or under any other plan, program or arrangement benefiting the employees or former employees of the Employer or any Affiliate, or (2) otherwise recovering such overpayment fro whoever has benefited from it. If the Plan Administrator determines that an underpayment of benefits has been made, the Plan Administrator shall take such action as it deems necessary or appropriate to remedy such situation. However, in no event shall interest be paid on the amount of any underpayment other than the investment gains (or losses) credited to the Participant's Account pending payment.

Appears in 3 contracts

Samples: Flexible Nonstandardized 401(k) Adoption Agreement (Oshkosh B Gosh Inc), Flexible Nonstandardized 401(k) Adoption Agreement (Oshkosh B Gosh Inc), 401(k) Adoption Agreement (Oshkosh B Gosh Inc)

AutoNDA by SimpleDocs

No Estoppel of Plan. No person is entitled to any benefit under ------------------- this Plan except and to the extent expressly provided under this Plan. The fact that payments have been made from this Plan in connection with any claim for benefits under this Plan does not (1a) establish the validity of the claim, (2b) provide any right to have such benefits continue for any period of time, or (3c) prevent this Plan from recovering the benefits paid to the extent that the Plan Administrator Committee determines that there was no right to payment of the benefits under this Plan. Thus, if a benefit is paid to a person under this Plan and it is thereafter determined by the Plan Administrator Committee that such benefit should not have been paid (whether or not attributable to an error by the Participantsuch person, the Plan Administrator, the Employer Committee or any other person), then the Plan Administrator Committee may take such action as the Plan Administrator Committee deems necessary or appropriate to remedy such situation, including without limitation by (1) deducting the amount of any overpayment theretofore made to or on behalf of such Participant person from any succeeding payments to or on behalf of such Participant person under this Plan or from any amounts due or owing to such Participant person by the Employer or any Affiliate or under any other plan, program or arrangement benefiting the employees or former employees of the Employer or any Affiliate, or (2) otherwise recovering such overpayment fro from whoever has benefited from it. If the Plan Administrator Committee determines that an underpayment of benefits has been made, the Plan Administrator shall Committee will take such action as it deems necessary or appropriate to remedy such situation. However, in no event shall will interest be paid on the amount of any underpayment other than the investment gains (or losses) credited to the Participant's Account pending payment.

Appears in 1 contract

Samples: Qualified Stock Ownership Plan and Trust Agreement (United Parcel Service of America Inc)

AutoNDA by SimpleDocs

No Estoppel of Plan. No person is entitled to any benefit under this Plan except and to the extent expressly provided under this Plan. The fact that payments have been made from this Plan in connection with any claim for benefits under this Plan does not (1) establish the validity of the claim, (2) provide any right to have such benefits continue for any period of time, or (3) prevent this Plan from recovering the benefits paid to the extent that the Plan Administrator determines that there was no right to payment of the benefits under this Plan. Thus, if a benefit is paid under this Plan and it is thereafter determined by the Plan Administrator that such benefit should not have been paid (whether or not attributable to an error by the Participant, the Plan Administrator, the Employer or any other person), then the Plan Administrator may take such action as the Plan Administrator deems necessary or appropriate to remedy such situation, including without limitation by (1) deducting the amount of any overpayment theretofore made to or on behalf of such Participant from any succeeding payments to or on behalf of such Participant under this Plan or from any amounts due or owing to such Participant by the Employer or any Affiliate or under any other plan, program or arrangement benefiting the employees or former employees of the Employer or any Affiliate, or (2) otherwise recovering such overpayment fro from whoever has benefited benefitted from it. If the Plan Administrator determines that an underpayment of benefits has been made, the Plan Administrator shall take such action as it deems necessary or appropriate to remedy such situation. However, in no event shall interest be paid on the amount of any underpayment other than the investment gains (or losses) credited to the Participant's Account pending payment.

Appears in 1 contract

Samples: Adoption Agreement (Community First Banking Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!