Examples of Excess Benefit Plan in a sentence
The Excess Benefit Plan and Trust will be administered by a Board of Trustees, consisting of the same Trustees who administer the Retirement Fund.
The Retirement Fund Trustees are granted the authority to establish and maintain the Excess Benefit Plan and Trust, provided that the language of the Excess Benefit Plan will allow for its termination if continuing benefits under that Plan will impair the funding status of the Retirement Fund, or if legislation is adopted modifying Internal Revenue Code Section 415 to such an extent that the Excess Benefit Plan is no longer required.
The amount remitted to the Excess Benefit Trust shall be the amount necessary to pay benefits and administrative expenses under the Non-Qualified Excess Benefit Plan for the following month, including any retroactive payments authorized by the Excess Benefit Plan, as calculated by the third-party administrator for the Retirement Fund and Excess Benefit Trust.
The Excess Benefit Plan will be designed solely to provide pension benefits to Retirement Fund participants, whose benefits are otherwise limited by Internal Revenue Code Section 415.
Such notification shall be written in a manner calculated to be understood by such Participant and shall contain (i) specific reasons for the denial, (ii) specific reference to pertinent Excess Benefit Plan provisions, (iii) a description of any additional material or information necessary for the Participant to perfect such claim and an explanation of why such material or information is necessary, and (iv) information as to the steps to be taken if the Participant wishes to submit a request for review.