Transfer of NTELOS Retirement Pension Plan Assets Sample Clauses

Transfer of NTELOS Retirement Pension Plan Assets. (i) (A) The Parties agree that the Plan Assets and any related earnings or losses shall be determined and transferred to the Wireline Pension Trust from the NTELOS Pension Trust in accordance with Section 414(l) of the Code, Treasury Regulation Section 1.414(l)-1, Section 208 of ERISA and the assumptions and valuation methodology which the Pension Benefit Guaranty Corporation would have used under Section 4044 of ERISA as of the Distribution Date as set forth in Schedule F to this Agreement, which may be amended in writing by mutual agreement of the Parties at any time prior to the second anniversary of the Distribution Date.
Sample 1Sample 2
AutoNDA by SimpleDocs
Transfer of NTELOS Retirement Pension Plan Assets. (i) The Parties agree that the assets of the NTELOS Pension Trust allocable to pay the benefits accrued by the Delayed Transfer Employees shall be transferred to the Wireline Pension Trust in accordance with Section 3.2(b)(i)(A) of this Agreement. No later than thirty (30) days after the second anniversary of the Distribution Date (or such other date as mutually agreed to by the Parties) (the “Delayed Transfer Calculation Date”), NTELOS and Wireline (acting directly or through members of the NTELOS Group or the Wireline Group, respectively) shall, if then deemed necessary or appropriate, file an IRS Form 5310-A regarding the transfer of such assets and Liabilities from the NTELOS Pension Trust to the Wireline Pension Trust with respect to the Delayed Transfer Employees. (ii) No later than one hundred twenty (120) days, or such other period of time as agreed upon by NTELOS and Wireline, following the Delayed Transfer Calculation Date, NTELOS shall cause the Actuary to calculate (in accordance with Section 3.2(b)(i) of this Agreement) the final, verified value of the assets to be transferred to the Wireline Pension Trust with respect to the Delayed Transfer Employees, which amount shall be referred to as the “Final Delayed Transfer Amount.” (iii) Within thirty (30) days following the determination of the Final Delayed Transfer Amount, NTELOS shall cause the NTELOS Pension Trust to transfer to the Wireline Pension Trust (the date of such transfer, the “Final Delayed Transfer Date”) an amount equal to the Final Delayed Transfer Amount, adjusted to reflect investment earnings or losses of the NTELOS Pension Trust during the period from the Delayed Transfer Calculation Date through the Final Delayed Transfer Date. Such investment earnings or losses shall be determined based on the actual investment rate of return on the assets of the NTELOS Pension Trust for the period commencing on the Delayed Transfer Calculation Date and ending on the last calendar day of the month ending immediately prior to the Final Delayed Transfer Date. NTELOS shall satisfy its obligation pursuant to this Section 3.3(b)(iii) by causing the NTELOS Pension Trust to transfer assets in kind to the extent practicable equal to the Final Delayed Transfer Amount consisting of a pro rata percentage (rounded up or down to the nearest whole lot or distributable unit) of all investments under the NTELOS Retirement Pension Plan and to transfer the balance of the Final Delayed Transfer Amount in cash....
Sample 1Sample 2

Related to Transfer of NTELOS Retirement Pension Plan Assets

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • 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.

  • 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.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • 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.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Municipal Pension Plan (a) An employer will provide the Municipal Pension Plan (MPP) to all eligible employees. (b) Employees of record on March 31, 2010, who meet the eligibility requirements of the MPP, have the option of joining or not joining the MPP. Eligible employees who initially elect not to join the MPP on April 1, 2010, have the right to join the MPP at any later date but will not be able to contribute or purchase service for the period waived. (c) All regular full-time employees hired after March 31, 2010, will be enrolled in the MPP upon completion of the earlier of their probationary period or three months and will continue in the plan as a condition of employment. Full-time hours of work are defined in the local issues agreement specific to each employer. Regular part-time employees and casual employees hired after April 1, 2010, who meet the eligibility requirements of the MPP have the right to enrol or not enrol in the MPP. Those who initially decline participation have the right to join the MPP at any later date. The MPP rules currently provide that a person who has completed two years of continuous employment with earnings from an employer of not less than 35% of the year's maximum pensionable earnings in each of two consecutive calendar years will be enrolled in the Plan. This rule will not apply when an eligible employee gives a written waiver to the Employer. (d) Employers will ensure that all new employees are informed of the options available to them under the MPP rules. (e) Eligibility and terms and conditions for the pension will be those contained in the Municipal Pension Plan and associated documents. (f) If there is a conflict between the terms of this agreement and the MPP rules, the MPP must prevail. Note: MPP contact information: Web: http:\\xxx.xxxxxxxxxx.xx Email: xxx@xxxxxxxxxx.xx Victoria Phone: 0-000-000-0000 BC Phone: 0-000-000-0000

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!