Qualified Retirement Plan. Section 5.01. SpinCo 401(k) Plan.
Qualified Retirement Plan. Employee shall be eligible for distribution of any vested account balance under any qualified retirement plan (such as a 401(k) plan) sponsored by the Company, pursuant to the terms and conditions of applicable plan documents.
Qualified Retirement Plan. A 401(a) Qualified Retirement Plan shall be a benefit of the faculty (e.g., the Bencor Plan).
Qualified Retirement Plan. In addition to completing, signing, and dating your qualified retirement plan’s adoption agreement, there are a few other key items to be aware of. In general, every plan fiduciary, administrator, officer, or employee who handles funds or other property of the plan must be bonded for at least 10 percent of the amount the individual handles. The minimum bond amount, irrespective of plan asset value, is $1,000. The maximum amount required is $500,000 ($1,000,000 for a plan that holds employer securities). You can obtain a fidelity bond from your insurance agent. The bond should be in the plan’s name (not the company’s name).
Qualified Retirement Plan. The College shall sponsor a 401(a) Qualified Retirement Plan (i.e., Bencor).
Qualified Retirement Plan. Executive shall be eligible for distribution of any vested account balance under any qualified retirement plan (such as a 401(k) plan) sponsored by the Company, pursuant to the terms and conditions of such plan documents.
Qualified Retirement Plan. Olin and Arch shall take all -------------------------- steps necessary or appropriate so that the provisions of this Section 2.1 are implemented in a timely fashion, as more fully set forth below.
Qualified Retirement Plan. A. SECTION 401(a) PLAN: Pursuant to the Prior Agreement, the Corporation maintained and funded a qualified retirement plan, as described in Code section 401(a) (the “401(a) Plan”). Contributions to the 401(a) Plan will continue to be made in the future, but the amount and rights thereto will be dependent upon the age and employment status of teachers as of January 1, 2000, with the different classes defined as follows:
Qualified Retirement Plan. The term "Qualified Retirement Plan" means any plan of an Employer or a Related Company that is intended to be qualified under Section 401(a) of the Code.
Qualified Retirement Plan. Purchaser shall satisfy Seller as of the First Closing with information and evidence reasonably satisfactory to Seller that Purchaser shall (i) provide past service credit for vesting and eligibility purposes to the Hired Employees for their service with Seller, (ii) allow all Hired Employees to roll their distributable balances over from the Petro Plan into Purchaser’s qualified retirement plan following Seller’s receipt of a favorable IRS determination letter on the form of the Petro Plan as in effect immediately prior to the First Closing, and (iii) allow each Hired Employee to become a participant in Purchaser’s qualified retirement plan at the first opportunity permitted under the terms and conditions of Purchaser’s qualified retirement plan.
