RETIREMENT AND PENSION PLANS Sample Clauses

RETIREMENT AND PENSION PLANS. 17:01 The pension plan established under the Canada Pension Act, as amended, and the Ontario Municipal Employees Retirement System Act, as amended, shall be adopted by the Employer and the Union.
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RETIREMENT AND PENSION PLANS. The Company maintains noncontributory defined benefit retirement and pension plans, with benefits for eligible United States salaried and hourly employees funded through trusts established in conjunction with these plans. Employees of certain foreign operations participate in various local plans which in the aggregate are not significant. The Company also has nonqualified unfunded retirement plans for its directors and certain retired employees, and contractual arrangements with certain executives that provide for supplemental pension benefits in excess of those provided by the Company's primary pension plan. Fifty percent of the projected benefit obligation of the supplemental pension benefit arrangements with the executives has been funded by grants of restricted shares of the Company's common stock. The remaining 50% is unfunded. The Company is providing for these arrangements by charges to earnings over the periods to age 65 of the participants. The Company's funding policy with respect to its qualified plans is to contribute amounts determined annually on an actuarial basis that provides for current and future benefits in accordance with funding requirements of federal law and regulations. Assets of funded benefit plans are invested in a variety of equity and debt instruments and in pooled temporary funds. Net pension expense, excluding plan administrative expenses, consists of the following components: (IN THOUSANDS) ---------------------------- 1993 1992 1991 -------- -------- Service cost for benefits earned during the period.......................................... $ 6,902 $ 6,601 $ 5,662 Interest cost on projected benefit obligation.... 14,374 13,106 12,108 Actual return on plan assets..................... (15,605) (14,452) (26,254) Net amortization and deferrals................... 652 673 15,025 -------- -------- In addition to pension expense shown above, in 1993 the Company also recorded a charge for curtailments of $7.6 million related to an hourly pension plan as part of the resizing and restructuring of its general gauge and aerospace operations (see Note 2). The charge to income for all retirement and pension plans, including the 1993 curtailment provision, was $14.4 million in 1993, $6.7 million in 1992 and $7.2 million in 1991. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED) Net pension expense reflects an expected long-term rate of return on plan assets of 9 1/2% for 1993, 1992 and 1991. The actual return has been adjusted to d...
RETIREMENT AND PENSION PLANS. All Employees reaching normal retirement age shall be obliged to retire from the services of the Employer and at such time shall be eligible to be paid any pensions and/or retirement The Pension Plan established under The Canada Pension Act and The Ontario Municipal Employees Retirement System Act shall adopted by the Employer and the Union.
RETIREMENT AND PENSION PLANS. The Company sponsors several retirement and pension plans covering eligible salaried and hourly employees. The plans generally provide benefits based on participants’ years of service and/or compensation. The following is a brief description of the Company’s retirement and pension plans. The Company maintains contributory and noncontributory defined benefit pension plans. Benefits for eligible salaried and hourly employees under all defined benefit plans are funded through trusts established in conjunction with the plans. The Company’s funding policy with respect to its defined benefit plans is to contribute amounts that provide for benefits based on actuarial calculations and the applicable requirements of U.S. federal and local foreign laws. The Company estimates that it will make both required and discretionary cash contributions of approximately $4 million to $7 million to its worldwide defined benefit pension plans in 2016. The Company uses a measurement date of December 31 (its fiscal year end) for its U.S. and foreign defined benefit pension plans. The Company sponsors a 401(k) retirement and savings plan for eligible U.S. employees. Participants in the retirement and savings plan may contribute a specified portion of their compensation on a pre-tax basis, which varies by location. The Company matches employee contributions ranging from 20% to 100%, up to a maximum percentage ranging from 1% to 8% of eligible compensation or up to a maximum of $1,200 per participant in some locations. The Company’s retirement and savings plan has a defined contribution retirement feature principally to cover U.S. salaried employees joining the Company after December 31, 1996. Under the retirement feature, the Company makes contributions for eligible employees based on a pre-established percentage of the covered employee’s salary subject to pre-established vesting. Employees of certain of the Company’s foreign operations participate in various local defined contribution plans. The Company has nonqualified unfunded retirement plans for its Directors and certain retired employees. It also provides supplemental retirement benefits, through contractual arrangements and/or a SERP covering certain current and former executives of the Company. These supplemental benefits are designed to compensate the executive for retirement benefits that would have been provided under the Company’s primary retirement plan, except for statutory limitations on compensation that must be take...
RETIREMENT AND PENSION PLANS. This Policy shall not apply to a grantee or subgrantee’s investment of funds where the funds are held in trust for the benefit of employees or third parties.
RETIREMENT AND PENSION PLANS. All Employees reaching normal retirement age shall be obliged to retire the services of the Employer and at such time shall be eligible to be paid any pensions and/or retirement allowance to which they are entitled under the Regional Retirement By-law of The Regional Municipality of The pension plan established under The Canada Pension Act and The Ontario Municipal Employees Retirement System Act shall be adopted by the Employer and the Union. Where an Employee has the qualifications contained in the Job Descriptions and/or has proven his or her capability to handle the work, there shall be no discrimination between men and women in the matter of appointments or salaries in such positions. There shall be no discrimination practised by either the Employer or the Union against any Employee because of age (as in The Ontario Human Rights Code), race, religion, creed, colour, place of origin, sex or marital status, political affiliation, place of residence, participation or non-participation, membership or non-membership in the Union. There also be no coercion practised by the Employer or the Union. No person shall be required as a condition of employment to become or remain a member of the Union or any other organization. Neither the Employer nor the Union condone the practice of sexual harassment and any such claim shall be referred under the Discrimination and Harassment Policy.
RETIREMENT AND PENSION PLANS. All employees reaching normal retirement age shall be obliged to retire from the services Employer and at such time shall be eligible to be paid in addition to any benefits to which they are entitled, any pensions and/or any retirement allowance to which they are entitled under Retirement By-law
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RETIREMENT AND PENSION PLANS. The Seaboard Entities shall fully vest all Hired Employees under, and remain responsible for, all retirement and pension plans maintained by the Business for any of its employees; provided, however, the Seaboard Entities shall only vest union employees in union sponsored retirement and pension plans to the extent required by the terms of such union contract or by law . Notwithstanding the foregoing, ConAgra shall assume and be responsible for the Retirement Income Plan for Production Employees of Seaboard Farms of Chattanooga, Inc. ("Chattanooga Plan"), as described in Section 8.15.2 of the Disclosure Schedule. Seaboard and ConAgra agree to cooperate to transfer the sponsorship of the Chattanooga Plan from Seaboard to ConAgra as soon as is practicable after and effective as of the Closing. In connection therewith, Seaboard shall use its best efforts to cause to be assigned to ConAgra or the Chattanooga Plan such polices of insurance or other contracts as ConAgra designates in writing and as pertains to the funding of benefits under the Chattanooga Plan, or in any case where such assignment is commercially impracticable, Seaboard shall cooperate in arranging for the issuance of new or modified policies or contracts.

Related to RETIREMENT AND PENSION PLANS

  • Guaranteed Pension Plans Each contribution required to be made to a Guaranteed Pension Plan, whether required to be made to avoid the incurrence of an accumulated funding deficiency, the notice or lien provisions of §302(f) of ERISA, or otherwise, has been timely made. No waiver of an accumulated funding deficiency or extension of amortization periods has been received with respect to any Guaranteed Pension Plan, and neither the Borrower nor any ERISA Affiliate is obligated to or has posted security in connection with an amendment to a Guaranteed Pension Plan pursuant to §307 of ERISA or §401(a)(29) of the Code. No liability to the PBGC (other than required insurance premiums, all of which have been paid) has been incurred by the Borrower or any ERISA Affiliate with respect to any Guaranteed Pension Plan and there has not been any ERISA Reportable Event (other than an ERISA Reportable Event as to which the requirement of 30 days notice has been waived), or any other event or condition which presents a material risk of termination of any Guaranteed Pension Plan by the PBGC. Based on the latest valuation of each Guaranteed Pension Plan (which in each case occurred within twelve months of the date of this representation), and on the actuarial methods and assumptions employed for that valuation, the aggregate benefit liabilities of all such Guaranteed Pension Plans within the meaning of §4001 of ERISA did not exceed the aggregate value of the assets of all such Guaranteed Pension Plans, disregarding for this purpose the benefit liabilities and assets of any Guaranteed Pension Plan with assets in excess of benefit liabilities.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Retirement and Welfare Benefits During the Term, the Executive shall be eligible to participate in the Company’s health, life insurance, long-term disability, retirement and welfare benefit plans, and programs available to similarly-situated employees of the Company, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate (as defined below) of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.

  • Benefit Plans and Perquisites For as long as the Executive is employed by the Company, the Executive shall be eligible (x) to participate in any and all officer or employee compensation, incentive compensation and benefit plans in effect from time to time, including without limitation plans providing retirement, medical, dental, disability, and group life benefits and including incentive or bonus plans existing on the date of this Agreement or adopted after the date of this Agreement, provided that the Executive satisfies the eligibility requirements for any the plans or benefits, and (y) to receive any and all other fringe and other benefits provided from time to time, including the specific items described in (a)-(b) below.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • INSURANCE AND PENSION In accordance with RCW 41.80.010(7), the insurance and pension conditions for all members of the bargaining unit will be as follows. 26.1 For the 2017-2019 biennium, the Employer will contribute an amount equal to eighty-five percent (85%) of the total weighted average of the projected health care premium for each bargaining unit employee eligible for insurance each month, as determined by the Public Employees Benefits Board. The projected health care premium is the weighted average across all plans, across all tiers. 26.2 The point-of-service costs of the Classic Uniform Medical Plan (deductible, out-of-pocket maximums and co-insurance/co-payment) may not be changed for the purpose of shifting health care costs to plan participants, but may be changed from the 2014 plan under two (2) circumstances: 1. In ways to support value-based benefits designs; and 2. To comply with or manage the impacts of federal mandates. Value-based benefits designs will: 1. Be designed to achieve higher quality, lower aggregate health care services cost (as opposed to plan costs); 2. Use clinical evidence; and 3. Be the decision of the PEB Board. 26.3 Article 25.2 will expire June 30, 2019. 26.4 The PEB Program shall provide information on the Employer Sponsored Insurance Premium Payment Program on its website and in an open enrollment publication annually. 26.5 The Employer will pay the entire premium costs for each bargaining unit employee for basic life, basic long-term disability and dental insurance coverage.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan (a) the institution of any steps by the Borrower, any member of its Controlled Group or any other Person to terminate a Pension Plan if, as a result of such termination, the Borrower or any such member could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $10,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA.

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