Protected Benefit. Protected Benefit means any accrued benefit described in Treas. Reg. §1.411(d)-4, including any optional form of benefit provided under the Plan which may not (except in accordance with such Regulations) be reduced, eliminated or made subject to Employer discretion.
Protected Benefit. 5 1.26 Related Group/Related Employer ............................... 5 1.27 Self-Employed Individual / Owner-Employee/ Shareholder- Employee ..................................................... 6 1.28 Separation from Service ...................................... 6 1.29 Service ...................................................... 6 1.30 Service with a Predecessor Employer .......................... 6 1.31 Trust ........................................................ 6
Protected Benefit. Except as permitted by Regulations, no Plan amendment or transaction having the effect of a Plan amendment (such as a merger, plan transfer or similar transaction) shall be effective to the extent that it eliminates or reduces any "Section 411(d)(6) protected benefit" or adds or modifies conditions relating to "Section 411(d)(6) protected benefits" the result of which is a further restriction on such benefit unless such protected benefits are preserved with respect to benefits accrued as of the later of the adoption date or effective date of the amendment. "Section 411(d)(6) protected benefits" are benefits described in Code Section 411(d)(6)(A), early retirement benefits and retirement-type subsidies, and optional forms of benefits. In addition, no such amendment shall have the effect of terminating the protections and rights set forth in Section 7.13, unless such termination shall then be permitted under the applicable provisions of the Code and Regulations; such a termination is currently expressly prohibited by Regulation 54.4975-11(a)(3)(ii).
Protected Benefit. The amount of a participant's accrued benefit under the A-Plan determined on or after June 1, 2003 will never be less than the amount of his accrued benefit determined as of May 31, 2003. As soon as practicable after May 31, 2003, the Company will make available to participants the amount of their protected accrued benefit as of May 31, 2003.
