Common use of Target Benefit Pension Plan Clause in Contracts

Target Benefit Pension Plan. If this Plan is adopted as a Target Benefit Pension Plan, the Forfeitures and the Employer Contribution actually made under section 5.4 for each Plan Year shall be allocated (and posted) as of the last day of each Plan Year to the Employer Account of each Active Participant as specified in the Adoption Agreement. The Forfeitures for each Plan Year shall be applied to reduce the Employer Contribution for such Plan Year. If Forfeitures for any Plan Year exceed the Employer Contributions determined under section 5.4 for such Plan Year, such excess shall be held in a separate account and shall be applied in full to offset Employer Contributions in the future until such account is exhausted under this section 6.3(d).

Target Benefit Pension Plan. If this Plan is adopted as a Target Benefit Pension Plan, the Forfeitures and the Employer Contribution actually made under section 5.4 (S)5.4 for each Plan Year shall be allocated (and posted) as of the last day of each Plan Year to the Employer Account of each Active Participant as specified in the Adoption Agreement. The Forfeitures for each Plan Year shall be applied to reduce the Employer Contribution for such Plan Year. If Forfeitures for any Plan Year exceed the Employer Contributions determined under section 5.4 (S)5.4 for such Plan Year, such excess shall be held in a separate account and shall be applied in full to offset Employer Contributions in the future until such account is exhausted under this section 6.3(d(S)6.3(d).