Xxxxxx Retirement Plan Sample Clauses

Xxxxxx Retirement Plan. (i) Effective as of the Closing, Seller shall take all necessary actions to cause the Xxxxxx Retirement Plan (the "Xxxxxx XX Plan") to be amended (if required) to provide for the direct trust-to-trust transfer of assets and the assumption of liabilities as contemplated herein. (ii) Not later than the Closing, Buyer shall establish or otherwise have in effect a defined benefit pension plan which shall be qualified under Codess. 401(a) (the "Buyer DB Plan") and shall cover those Affected Employees who are participants in the Xxxxxx XX Plan on the Closing. Buyer and Seller shall reasonably cooperate to make any and all filings and submissions to the appropriate governmental agencies required to be made by Seller or Buyer as are appropriate in effectuating the provisions of this Section 8.02(h) (including (i) IRS Forms 5310-A in respect of the transfers of assets and (ii) in the event that the transactions contemplated by this Agreement constitute a "reportable event" (within the meaning of Section 4043 of ERISA and the related regulations) for which the 30-day notice has not been waived, timely notification of the PBGC and filing of all reports required in connection therewith). (iii) The Buyer DB Plan and the trust which is a part of such plan (and any successor to such plan and/or trust) shall provide (A) that with respect to assets transferred to the Buyer DB Plan from the Xxxxxx XX Plan, such assets shall be held by the trust which is a part of the Buyer DB Plan for the exclusive benefit of the participants in such plan; (B) that the accrued benefits as of the Closing Date of each Affected Employee may not be decreased by amendment or otherwise; and (C) that each Affected Employee shall have the right to receive his or her benefit accrued through the Closing Date under the Xxxxxx XX Plan in any optional form provided under the Xxxxxx XX Plan. (iv) As soon as practicable following the Closing Date, Seller shall cause its actuary to calculate the Accrued Liability (as defined in clause (vi) below) of the Affected Employees and of all participants and beneficiaries as of the end of the month that includes the Closing Date. If the Accrued Liability of all participants and beneficiaries is determined to be less than the fair market value of the assets of the Xxxxxx XX Plan as of the end of the month that includes the Closing Date, then Seller shall cause to be transferred to a trust established by Buyer as part of the Buyer DB Plan cash or assets (or a combina...
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Xxxxxx Retirement Plan. Please refer to Letter of Intent.
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Xxxxxx Retirement Plan. Employee is a participant in the Company’s Retirement Plan. As of the Separation Date, Employee will not be an eligible employee or an active participant under the Company’s
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Related to Xxxxxx Retirement Plan

  • 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.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • 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.

  • 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.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • 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.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Public Employees Retirement System “PERS”) Members.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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