Adjusted Funding Target Attainment Percentage definition

Adjusted Funding Target Attainment Percentage an adjusted target attainment percentage as defined in Sections 206(g)(9) of ERISA and 436(j) of the Code.

Adjusted Funding Target Attainment Percentage means the funding target attainment percentage that is determined under paragraph (1) by increasing each of the amounts under subparagraphs (A) and (B) of Code §430(d)(2) by the aggregate amount of purchases of annuities for employees other than Highly Compensated Employees that were made by the Plan during the preceding two Plan Years.

Adjusted Funding Target Attainment Percentage means the adjusted funding target attainment percentage as defined in Sections 206(g)(9) of ERISA and 436(j)(2) of the Internal Revenue Code. Agreement shall mean this Credit Agreement, as the same may be supplemented or amended from time to time, including all schedules and exhibits.

Examples of Adjusted Funding Target Attainment Percentage in a sentence

• Certain assumptions used in the determination of these values and related amounts such as the Adjusted Funding Target Attainment Percentage (AFTAP), are prescribed by the Internal Revenue Code, Regulations and other official guidance, including the American Rescue Plan of 2021 and the Infrastructure Investment and Jobs Act of 2021.

• Limitations Applicable If the Plan’s Adjusted Funding Target Attainment Percentage Is Less Than 80 Percent, But Not Less Than 60 Percent.

• The Pension Protection Act defines the interest rate for determining “the present value of the plan’s accrued or earned benefits” and, based on this, the plan’s Adjusted Funding Target Attainment Percentage (AFTAP) – or funding status – which is also disclosed to plan participants on the Annual Funding Notice.

• For any period during which a presumption under Code Section 436(h) and Regulation Section 1.436-1(h) applies to the Plan, the limitations under Sections 19.2, 19.3, 19.4, and 19.5 of this Article are applied to the Plan as if the Adjusted Funding Target Attainment Percentage for the Plan Year were the presumed Adjusted Funding Target Attainment Percentage determined under the rules of Code Section 436(h) and Regulation Section 1.436-1(h)(1), (2), or (3).

• For purposes of determining whether the accrual limitation under Section 19.5 of this Article applies to the Plan, the Adjusted Funding Target Attainment Percentage for a Plan Year shall be determined in accordance with the "Special Rule for Certain Years" under Code Section 436(j)(3) (except as provided under Section 203(b) of the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2012), if applicable).

More Definitions of Adjusted Funding Target Attainment Percentage

Adjusted Funding Target Attainment Percentage means the "funding target attainment percentage" which is determined under paragraph A. by increasing each of the amounts under subparagraphs (A) and (B) of Code Section 430(d)(2) by the aggregate amount of purchases of annuities for employees other than highly compensated employees (as defined in Code Section 414(q)) which were made by the Plan during the preceding two (2) Plan Years.

Adjusted Funding Target Attainment Percentage means the percentage described in Treas. Regs. Section 1.430(d)-1(b)(3) using the presumptions described in Treas. Regs. 1.436-1(g) and (h) and as modified by the Worker, Retiree and Employer Recovery Act of 2008.

Adjusted Funding Target Attainment Percentage means the funding target attainment percentage that is determined under subparagraph (i) above increase by each of the amounts under Section 430(d)(2)(A) and (B) of the Code by the aggregate amount of purchases of annuities for employees other than highly compensated employees (as defined in Section 414(q) of the Code) that were made by the Plan during the preceding two years.

Adjusted Funding Target Attainment Percentage for a Plan Year shall mean the fraction (expressed as a percentage) –

Adjusted Funding Target Attainment Percentage means the adjusted funding target attainment percentage as defined in Sections 206(g)(9) of ERISA and 436(j)(2) of the Internal Revenue Code. Agreement shall mean this Amended and Restated Credit Agreement, as the same may be supplemented or amended from time to time, including all schedules and exhibits. Anti-Terrorism Laws shall mean any Laws relating to terrorism or money laundering, including Executive Order No. 13224, the USA Patriot Act, the Laws comprising or implementing the Bank Secrecy Act, and the Laws administered by the United States Treasury Department’s Office of Foreign Asset Control (as any of the foregoing Laws may from time to time be amended, renewed, extended, or replaced).

Adjusted Funding Target Attainment Percentage means for any Plan Year a fraction (expressed as a percentage) the numerator of which is the Adjusted Plan Assets and the denominator of which is the Adjusted Funding Target. Adjusted Plan assets equals the value of Plan assets, decreased by the Plan's funding standard carryover balance and prefunding balance and increased by the aggregate amount of purchases of annuities for Participants and Beneficiaries (other than participants who, at the time of the purchase, were highly compensated employees) which were made by the Plan during the preceding 2 plan years, to the extent not included in assets under Code Section 430.

Adjusted Funding Target Attainment Percentage means such term as is defined in Section 436(j)(2) of the Code and Treas. Reg. § 1.436-1(j)(1).