Examples of Administrative Benefit Committee in a sentence
Expenses against which a member of the CGN Committee or the Administrative Benefit Committee shall be indemnified hereunder shall include without limitation, the amount of any settlement or judgment, costs, counsel fees, and related charges reasonably incurred in connection with a claim asserted, or a proceeding brought or settlement thereof.
Expenses against which a member of the OCN Committee or the Administrative Benefit Committee shall be indemnified hereunder shall include without limitation, the amount of any settlement or judgment, costs, counsel fees, and related charges reasonably incurred in connection with a claim asserted, or a proceeding brought or settlement thereof.
Designation of a Beneficiary shall be made by execution of a form approved or accepted by the Administrative Benefit Committee.
The Administrative Benefit Committee may designate one or more insurance companies licensed to do business in Virginia to invest or insure part or all of the assets of the Plan.
Any payment to a person or entity entitled to payment under the Plan, or to the representative of such person or entity, shall be, to the extent of the payment, in full satisfaction of all claims under the Plan against the Trustee, the Administrative Benefit Committee, and the Employers.
The Administrative Benefit Committee also shall provide to the Trustee a schedule showing the amount of any such contribution or transfer that is to be allocated to the ESRP Account, the Benefit Restoration Account, and the Credited Service Account of each Participant.
For amounts contributed to the Trust pursuant to Section 3.4, the Administrative Benefit Committee shall furnish the Trustee a schedule showing the amount to be allocated to each Participant's Account and, within such Account, to such Participant's ESRP Account, Benefit Restoration Account and Credited Service Account.
To the extent required by law, the Administrative Benefit Committee shall designate as accountant for the Plan a person recognized by the Secretary of Labor as an independent qualified public accountant or a firm which maintains on its staff at least one such person.
For distributions on or after June 1, 2002, the election of the rollover option must be made either (i) at least six (6) months prior to the commencement of the receipt of benefits or (ii) at least one (1) month prior to the commencement of the receipt of benefits if the election is approved by the Administrative Benefit Committee or the OCN Committee in its absolute discretion.
The DRI Board and the Virginia Power Board, through this document, have delegated certain fiduciary responsibilities to the DRI O&C Committee, the Virginia Power O&C Committee, the Administrative and Investment Benefit Committee and the Administrative Benefit Committee.