The Pension Sample Clauses

The Pension. Trust Fund shall provide for an equal number of Employer and Union Trustees. It is further agreed that the Pension Plan adopted by the Trustees of said Pension Trust Fund shall be such as will qualify for approval by the Internal Revenue Service of the United States Treasury Department, so as to enable the Employer to treat contributions to the Pension Fund as a business deduction for income tax purposes. It is also further agreed that the Pension Trust Agreement and Declaration of Trust and Plan shall be written in conformance with all applicable federal and state laws, so as to be eligible for tax exempt status under the rules and regulations of such Internal Revenue Service.
Sample 1
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The Pension. Benefit Guaranty Corporation has not instituted proceedings to terminate any Benefit Plan that is subject to Section 412 of the Internal Revenue Code of 1986, as amended (the "Code"), or Section 302 or Title IV of ERISA (a "Title IV Plan") and no condition exists that presents a material risk that such proceedings will be instituted. To Seller's knowledge, the actuarial calculations provided to the Buyer with respect to each such Benefit Plan are based on correct and complete employee and former employee data.
Sample 1
The Pension. The Parties agree to continue the University Pension Plan, in effect and as revised and restated on January or as the same may be amended by the Board from time to time during the term of this Any amendment to the Plan during the term of this Agreement shall be subject to the agreement of the Association. For the of any dispute arising under Article the terms and conditions of the Pension Plan shall be described in the copy of the Plan filed with the Pension Commission. All full-time employees of the University eligible to become enrolled the Pension Plan on the first day of the month coinciding with or following their first day of employment with the University. Full-time employees who ate of age more are automatically Fall-timeemployeesunder years of age may postpone age at which time enrolment becomes automatic. The Normal Retirement Date for a member of the Pension Plan shall be the first day of the month coincident with or next following the Member’s 65th birthday. A Member opt to defer retirement up to the first day of July next following the birthday. During period of deferment, the Member will continue to make contributions to the Pension Plan and, by so doing, will receive University contributions and additional pensionable service for the worked. Pension benefits are paid monthly commencing on the of the month following With the consent of the University, a Member may postpone retirement on a year-to-year basis after the Normal Retirement Date (“Postponed Retirement Date”). Retirement may not be postponed beyond years fol- lowing the No d Retirement Date. Should retirement be postponed by mutual consent beyond the Retirement Date, the will be required to either:
Sample 1
The Pension. Benefits Committee of the University is responsible for the design and modification of these programs. The following guiding principles inform decisions: a) There will be one pension and benefits plan for all members of the University community regardless of the type of work performed or the employee group to which one belongs; b) Benefits are provided for both the employee and their family where relevant; c) Employees should be covered for catastrophic events; d) The current level of benefits should be maintained; and, e) Cost implications to both the University and its employees should be considered. The Committee assembles on a monthly basis (with the exception of July and August) to review regular reports and approve annual changes to coverage and costs, if applicable. In addition to coverage and costs associated with the pension and benefits arrangements, other provisions may be amended from time to time subject to approval of the Board of Governors and as recommended by the Pension & Benefits Committee.
Sample 1

Related to The Pension

  • 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.

  • 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.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • ERISA; Benefit Plans Schedule 5.13 sets forth a list of all material deferred compensation, profit-sharing, retirement and pension plans and all material bonus and other material employee benefit or fringe benefit plans maintained, or with respect to which contributions have been made, by Seller with respect to current or former employees employed in connection with the power generation operations of the Generating Plants and the Gas Turbines (collectively, "Benefit Plans"). Seller and each trade or business (whether or not incorporated) which are or have ever been under common control, or which are or have ever been treated as a single employer, with Seller under Section 414(b), (c), (m) or (o) of the Code (an "ERISA Affiliate") have fulfilled their respective obligations under the minimum funding requirements of Section 302 of ERISA, and Section 412 of the Code, with respect to each Benefit Plan which is an "employee pension benefit plan" as defined in Section 3(2) of ERISA and each such plan is in compliance in all material respects with the presently applicable provisions of ERISA and the Code, except for such failures to fulfill such obligations or comply with such provisions which would not, individually or in the aggregate, create a Material Adverse Effect. Neither Seller nor any ERISA Affiliate has incurred any liability under Section 4062(b) of ERISA, or any withdrawal liability under Section 4201 of ERISA, to the Pension Benefit Guaranty Corporation in connection with any Benefit Plan which is subject to Title IV of ERISA which liability remains outstanding, and there has not been any reportable event (as defined in Section 4043 of ERISA) with respect to any such Benefit Plan (other than a reportable event with respect to which the 30-day notice requirement has been waived by the PBGC). Neither Seller nor any ERISA Affiliate or parent corporation, within the meaning of Section 4069(b) or Section 4212(c) of ERISA, has engaged in any transaction, within the meaning of Section 4069(b) or Section 4212(c)

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

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