Plan 4 Participants Sample Clauses

Plan 4 Participants. A Normal Pension is payable in the form of a Basic Pension commencing as of the Plan 4 Participant’s Normal Retirement Date. The amount of a Normal Pension is calculated for different time periods as follows: (i) For Hours of Service earned on or before December 31, 2005, the pension rate applicable to each year of Credited Service depends on whether the contribution rate is at the "Conforming Contribution Rate" or at the "Non- Conforming Contribution Rate.” The Non-Conforming Contribution Rate shall be any contribution rate less than the Conforming Contribution Rate. (ii) For Hours of Service after December 31, 2005, a Plan 4 Participant who meets the requirements for a Normal Pension commencing on or after January 1, 2006, shall receive a monthly amount equal to the product(s) of the applicable pension rate(s) shown below for the rate of contribution in effect for the specific time period, multiplied by the number of his years of Credited Service at such rate payable in the form of a Basic Pension commencing as of his Normal Retirement Date. Time Period Conforming Contribution Rate Pension Rate Non-Conforming Contribution Rate Pension Rate 2006 $49.00 $39.00 Less than $49.00 $14.00 2007 $64.00 $39.00 Less than $64.00 $14.00 2008 $79.00 $39.00 Less than $79.00 $14.00 2009 $94.00 $39.00 Less than $94.00 $14.00 2010 $109.00 $39.00 Less than $109.00 $7.00 2011 & 2012 $119.00 $39.00 Less than $119.00 $7.00 2013 $139.00 $39.00 Less than $139.00 $7.00 2014 $144.00 $39.00 Less than $144.00 $7.00 A Plan 4 Participant’s Accrued Benefit shall not be reduced by a change in the rate of contribution made on his behalf. (iii) For Hours of Service earned on or before December 31, 2005, the pension rate for a year of Credited Service is shown in Appendix E. If Pension benefits are paid in a form other than a Basic Pension or a QJSP with a Qualifying Spouse or if they commence after a Plan 4 Participant's Normal Retirement Date, then the Pension benefits shall be actuarially adjusted in accordance with Section 1.03.
Sample 1
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Related to Plan 4 Participants

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Eligible Participants Families and individuals experiencing homelessness. For the purposes of the Program, families and individuals are considered to be homeless only when he/she/they lack(s) a fixed, regular and adequate nighttime residence and reside(s) in a place not meant for human habitation, such as cars, parks, sidewalks, abandoned buildings, motels, or other shelters, or for reference as further defined in 24 CFR Part 578.3 and 576.2.

  • Eligible Employees Regular and probationary, full time and less than full-time employees (on a pro rata basis) are eligible to participate in this program. Sec. 903 COURSES ELIGIBLE: The following criteria will be used in determining eligibility for reimbursement:

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Rights of Participants Any participant in a Lender's interests hereunder may assert any claim for yield protection under Section 4.03 that it could have asserted if it were a Lender hereunder. If such a claim is asserted by any such participant, it shall be entitled to receive such compensation from the Borrower as a Lender would receive in like circumstances; provided, however, that with respect to any such claim, the Borrower shall have no greater liability to the Lender and its participant, in the aggregate, than it would have had to the Lender alone had no such participation interest been created.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Participant See Section 7(a) hereof.

  • Participating Employers As of the Effective Date, the following Participating Employer(s) are parties to the Plan:

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Participant Bound by Plan Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof.

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