Frozen Accrued Benefit definition

Frozen Accrued Benefit means the benefit as defined in Section 5.8 of the Plan.
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Frozen Accrued Benefit means a Participant's Accrued Benefit under the Plan determined as if the Participant terminated employment with the Employer as of the latest Fresh-Start Date, (or the date the Participant actually terminated employment with the Employer, if earlier), without regard to any amendment made to the Plan after that date other than amendments recognized as effective as of or before the date under Code §401(b) or Regulations §1.401(a)(4)-11(g). If the Participant has not had a Fresh-Start Date, the Participant's Frozen Accrued Benefit shall be zero.
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Frozen Accrued Benefit means a Participant’s accrued benefit under the Plan as of March 31, 2012, determined as provided under Section 4.1
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Examples of Frozen Accrued Benefit in a sentence

  • In lieu of applying the old compensation fraction or new compensation fraction described in section 5.9(l), if the Employer elects, a Participant's adjusted Accrued Benefit will be determined by substituting the Participant's Compensation (as defined in section of the Plan) for the current Plan Year determined under the same Compensation formula and underlying definition of Compensation used to determine the Frozen Accrued Benefit of each Participant in the Fresh-Start group.

  • In addition, the Frozen Accrued Benefit of a Participant whose Frozen Accrued Benefit includes the Top-Heavy minimum benefits provided in section 15.3 of the Plan, will be increased to the extent necessary to comply with the average compensation requirement of section 416(c)(l)(D)(i) of the Code.

  • If elected by the Employer below, each Participant's Frozen Accrued Benefit will be adjusted in accordance with the following fraction: [ ] Old Compensation fraction [ ] New Compensation fraction [ ] Reconstructed Compensation Fraction (may be selected only if the latest Fresh-Start Date is before the first day of the first Plan Year beginning after January 1, 1994).

  • If the Participant has not had a Fresh-Start Date, the Participant's Frozen Accrued Benefit will be zero.

  • However, if under the Adoption Agreement the Fresh-Start group is limited to an acquired group of employees, or a group of employees with a Frozen Accrued Benefit attributable to assets and liabilities transferred to the Plan, the Fresh Start Date will be the date designated in the Adoption Agreement.

  • If the Plan provides a new optional form of benefit with respect to a Participant's Frozen Accrued Benefit, such new optional form of benefit will be provided with respect to each Participant's entire Accrued Benefit (i.e., Accrued both before and after the Fresh-Start Date).

  • If, as of the Participant's latest Fresh-Start Date, the amount of a Participant's Frozen Accrued Benefit was limited by the application of section 415 of the Code, the Participant's Frozen Accrued Benefit will be increased for years after the latest Fresh-Start Date to the extent permitted under section 415(d)(l) of the Code.

  • An Employee's Adjusted Frozen Accrued Benefit equals his Frozen Accrued Benefit as of the applicable Fresh Start Date, as adjusted below.

  • The Member shall be entitled, notwithstanding any other provision to the contrary, to receive as a minimum benefit under this Plan his or her Frozen Accrued Benefit in any of the optional forms of benefit that were available to the Member under the terms of the Prior Plan, including any early retirement subsidies to which the Member might be entitled under the Prior Plan.

  • If the Member was a Member of the Prior Plan, the accrued benefit under the Prior Plan of such Member shall be calculated as of December 31, 1996, and shall be the Member’s Frozen Accrued Benefit.


More Definitions of Frozen Accrued Benefit

Frozen Accrued Benefit means the annual retirement benefit accrued by a Participant as of December 31, 2010 (or earlier as provided herein) under Section 4.01 of this Plan as in effect on December 31, 2010.
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Frozen Accrued Benefit means a participant's accrued benefit under the Plan determined as of the latest Fresh-Start Date as if the participant terminated employment with the Employer on that date and without regard to any amendment to the Plan adopted after that date, other than amendments recognized as effective as of or before that date under Code Section 401(b) or Regulation Section 1.401(a)(4)-11(g).
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Frozen Accrued Benefit means the Participant’s accrued benefit under the Plan, determined as of December 31, 2016. Consistent with the methodology of the Plan, the Frozen Accrued Benefit shall be determined by multiplying the Participant’s Normal Retirement Benefit by a fraction, the numerator of which is equal to the Participant’s years of credited service with the Bank as of December 31, 2016 and the denominator of which is the number of years of credit service the Participant would have with the Bank assuming he remains continuously employed until age 65. The Participant’s Frozen Accrued Benefit shall be subject to further reduction as described in paragraphs (a) and/or (b) below of this Section 1.34 as follows (to the extent applicable to the Participant):
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Frozen Accrued Benefit means the amount of the Participant’s Accrued Benefit as of the latest Fresh-Start Date determined in accordance with the provisions of Subparagraph R-3 of this Article III.
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Frozen Accrued Benefit means a Participant's Accrued Benefit under the Plan determined as of the latest Fresh-Start Date as if the
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Related to Frozen Accrued Benefit

  • Accrued Benefit have the meanings specified in ERISA.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any cash bonus or cash incentive compensation plan applicable to the Executive, but subject to any irrevocable deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any cash bonus or cash incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(e) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs to the extent necessary for compliance with the requirements of Code Section 409A(a)(2)(B) relating to specified employees or, to the extent not so required, within ninety (90) days of the Executive’s Separation from Service.

  • Termination Benefit means the benefit set forth in Article 7.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.