Retirement Income Plans Sample Clauses

Retirement Income Plans. 1. The basic University of California Retirement System (UCRS) plan provides eligible employees with lifetime retirement income, long-term disability income, family survivor income, and cash death benefits. Social Security is provided for all employees hired since April 1976, coordinated with UCRS and with the same benefits. Any employee who is enrolled in the Public Employment Retirement System (PERS) shall continue in the plan.
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Retirement Income Plans. Employees hired effective October 1, 2007, elected to become members of the LLNS Defined Benefit Pension Plan and the LLNS 401(K) Savings Plan (TCP1) or the LLNS 401(K) Retirement Plan (TCP2). Employees hired after October 1, 2007, or employees electing to leave TCP1 without leaving the Employer shall participate in TCP2. Employees in the bargaining unit shall participate in TCP1 and TCP2 on the same terms and under the same conditions as participating employees who are not in the bargaining unit. The Employer agrees to meet and confer with the Union to bargain in good faith over the effects, if any, that changes TCP1 or TCP2 or mandated by plan trustees or administrators during the term of this Agreement may have on bargaining unit employees prior to the change or step being implemented in the plan, but the parties’ agreement to engage in effects bargaining before the change or step shall not delay the change or step from taking place for all participating employees even though the Union and Employer may have failed to reach agreement or good faith impasse on the effects of the change or step. Changes to TCP1 or TCP2 or steps mandated by plan trustees or administrators shall be recognized by both the Union and the Employer as allowable and shall not be deemed a breach of this Agreement.
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Retirement Income Plans. 1. The Company Retirement Plan is based on your service after January 1, 1980. You will also receive any pension benefits you may have earned under the former pension plans such as the Profit Sharing.
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Retirement Income Plans. The Executive shall be entitled to participate in any nonqualified supplemental retirement income plans available from time to time to the Corporation's Senior Executives, and shall become vested in such plans according to the schedules provided in the plan documents. Benefits to be received by the Executive pursuant to such plans will be calculated under the formulas utilized in such plans as in effect from time to time; provided, however, that in the event of a Change of Control, the involuntary termination of the Executive's employment other than for cause or the termination of the Executive's employment for good reason (in either case, whether or not in conjunction with a Change of Control), the benefits to be provided to the Executive pursuant to such plans shall be calculated under the formulas utilized by such plans as in effect from time to time but in no event shall such benefits be less than the benefits calculated under the formulas utilized in such plans as in effect on the date of the Change of Control (as defined in Section 14(g)) or the effective date of the Executive's termination of employment , respectively.
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Retirement Income Plans. The Executive shall be entitled to participate in any nonqualified supplemental retirement income plans available from time to time to the Corporation's "highly compensated employees" as defined by Section 414(q) of the Internal Revenue Code, and shall become vested in such plans according to the schedules provided in the plan documents. Benefits to be received by the Executive upon retirement will be calculated under formulas utilized in such plans as in effect (A) upon the effective date of this Agreement, and (B) at the time of the Executive's retirement, and actual payments will be the greater (higher) of two benefit amounts calculated under the formulas.
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Related to Retirement Income Plans

  • Retirement Plans 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 (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, JHSS shall provide the following administrative services:

  • Employee Benefits; ERISA (a) Schedule 4.17 contains a true and complete list of each material bonus, deferred compensation, incentive compensation, stock purchase, stock option, severance, change-in-control, or termination pay, hospitalization or other medical, life or other insurance, supplemental unemployment benefits, profit sharing, pension, or retirement plan, program, agreement or arrangement, and each other material employee benefit plan, program, agreement or arrangement, sponsored, maintained or contributed to or required to be contributed to by any Conveyed Entity, any Subsidiary thereof or by any trade or business, whether or not incorporated (an "ERISA Affiliate"), that together with any Conveyed Entity would be deemed a "single employer" within the meaning of Section 4001(b)(1) of ERISA, for the benefit of any employee or former employee of any Conveyed Entity, Subsidiary thereof or any ERISA Affiliate (the "Plans"). Schedule 4.17 identifies each of the Plans that is an "employee welfare benefit plan," or "employee pension benefit plan" as such terms are defined in Sections 3(1) and 3(2) of ERISA (such plans being hereinafter referred to collectively as the "ERISA Plans"). No Conveyed Entity, Subsidiary thereof or any ERISA Affiliate has any formal plan or commitment, whether legally binding or not, to create any additional Plan or modify or change any existing Plan that would affect any employee or former employee of any Conveyed Entity, any Subsidiary thereof or any ERISA Affiliate except to the extent that any such creation, modification or change could not, individually or in the aggregate, reasonably be expected to result in a material liability of a Conveyed Entity or any of its Subsidiaries.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • 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.

  • Stock Option Plans; Employee Benefits 6.26.1 The Acquiror Company has no stock option plans providing for the grant by the Acquiror Company of stock options to directors, officers or employees.

  • Employee Benefits Plans Schedule 7.14 hereto identifies as of the date hereof each ERISA Plan sponsored or maintained by a Company or BRJ Seller. Except as would not reasonably be expected to have a Material Adverse Effect: (a) no ERISA Event has occurred or is expected to occur with respect to an ERISA Plan; (b) payment has been made of all amounts which a Controlled Group member is required, under applicable law or under the governing documents, to have been paid as a contribution to or a benefit under each ERISA Plan; (c) the liability of each Controlled Group member with respect to each ERISA Plan has been fully funded based upon reasonable and proper actuarial assumptions, has been fully insured, or has been fully reserved for on its financial statements to the extent required by GAAP; and (d) to our knowledge, no changes have occurred or are expected to occur that would cause an increase in the cost of providing benefits under any ERISA Plan. Except as would not reasonably be expected to have a Material Adverse Effect, with respect to each ERISA Plan that is intended to be qualified under Code Section 401(a): (i) there has been no non-compliance by the ERISA Plan and any associated trust with the applicable requirements of Code Section 401(a), (ii) the ERISA Plan and any associated trust have been amended to comply with all such requirements as currently in effect, other than those requirements for which a retroactive amendment can be made within the “remedial amendment period” available under Code Section 401(b) (as extended under Treasury Regulations and other Treasury pronouncements upon which taxpayers may rely), (iii) the ERISA Plan and any associated trust have received a favorable determination letter from the Internal Revenue Service stating that the ERISA Plan qualifies under Code Section 401(a), that the associated trust qualifies under Code Section 501(a) and, if applicable, that any cash or deferred arrangement under the ERISA Plan qualifies under Code Section 401(k), unless the ERISA Plan was first adopted at a time for which the above-described “remedial amendment period” has not yet expired, (iv) the ERISA Plan currently satisfies the requirements of Code Section 410(b), without regard to any retroactive amendment that may be made within the above-described “remedial amendment period”, and (v) no contribution made to the ERISA Plan is subject to an excise tax under Code Section 4972. Except as would not reasonably be expected to have a Material Adverse Effect, with respect to any Pension Plan, the “accumulated benefit obligation” of Controlled Group members with respect to the Pension Plan (as determined in accordance with Statement of Accounting Standards No. 87, “Employers’ Accounting for Pensions”) does not exceed the fair market value of Pension Plan assets. Except as would not reasonably be expected to have a Material Adverse Effect, no Controlled Group Member has or has had in the past, an obligation to contribute to a Multiemployer Plan.

  • Employee Benefit Plans; ERISA (a) Except as disclosed in the Parent SEC Documents, there are no “employee benefit plans” (within the meaning of Section 3(3) of ERISA) nor any other employee benefit or fringe benefit arrangements, practices, contracts, policies or programs other than programs merely involving the regular payment of wages, commissions, or bonuses established, maintained or contributed to by Parent. Any plans listed in the Parent SEC Documents are hereinafter referred to as the “Parent Employee Benefit Plans.”

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Benefit Plans; ERISA (a) Section 2.09(a) of the Disclosure Schedule contains a true and complete list and description of each of the Benefit Plans and identifies each of the Benefit Plans that is a Qualified Plan and relates to Employees.

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