IRC Section 4980B definition

IRC Section 4980B means Section 4980B of the IRC.
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Examples of IRC Section 4980B in a sentence

  • The Executive will also be entitled to continuation coverage pursuant to IRC Section 4980B, ERISA Section 601-608 and under any other law applicable to the Executive as of the Date of Termination.

  • At such time as Company shall no longer maintain a Company Plan subject to COBRA, Parent shall provide, or cause to be provided, notice and continuation coverage required under IRC Section 4980B and/or Part 6 of Title I of ERISA to each person who is a "M&A qualified beneficiary" (within the meaning of Prop.

  • Each of the CBES Employee Plans which is a group health plan within the meaning of IRC Section 5000(b)(1) is in compliance with the continuation of health care coverage requirements contained in IRC Section 4980B and ERISA Section 601 et seq.

  • Borrower has timely provided all health care continuation coverage required under IRC Section 4980B, and has timely notified all employees, as required by §4980B, of the right to elect health care continuation coverage.

  • Satisfy any obligations it may have to the Senior Officer under the terms and conditions of the Plans, including, without limitation, the rights of the Senior Officer to continuation of health plan coverage under IRC Section 4980B (COBRA).

  • In particular, Elavon shall not assume liability for any group health continuation coverage or coverage rights under IRC Section 4980B and ERISA Section 606 which exist as of the Closing Date or the Effective Date or which may arise in connection with any Merchant Business Employee or any Employee Benefit Plan.

  • Section 54.4980B-9; the "Treasury Regulation") as a result of the transactions contemplated by this Agreement (collectively, "Transaction M&A Qualified Beneficiaries"), and, Parent shall provide continuation coverage required under IRC Section 4980B and/or Part 6 of Title I of ERISA to each Transaction M&A Qualified Beneficiary.

  • CLIENT agrees to comply with the provisions of IRC Section 4980B and to notify OASIS of any event that would constitute a qualifying event under said statute as soon as it becomes aware of said event.

  • The COBRA provisions in the Internal Revenue Code (IRC) consist of: • Operating requirements (what an employer/plan administrator and its group health plans must do to be in compliance)• Tax sanction (what happens in the event of noncompliance) These provisions now appear in IRC Section 4980B (§4980B).

  • Except as required by IRC Section 4980B or Part 6 of Subtitle B of Title I of ERISA (or any similar state Law), neither AB nor any AB Subsidiary have any material obligations for retiree health or life benefits.

Related to IRC Section 4980B

  • IRC means the Internal Revenue Code of 1986, as amended.

  • Health Insurance Portability and Accountability Act means the Health Insurance Portability and Accountability Act of 1996, Pub. L. No. 104-191, 110 Stat. 1936, as amended.

  • Non-Section 423 Component means those Offerings under the Plan, together with the sub-plans, appendices, rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which rights to purchase Shares during an Offering Period may be granted to Eligible Employees that need not satisfy the requirements for rights to purchase Shares granted pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code.

  • Section 409A of the Code means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder.

  • Public Sector means an employing authority as defined in s5 of the Public Sector Management Act 1994.

  • the Code means the Pension Regulator’s Code of Practice No 14 governance and administration of public service pension schemes.

  • Code Section 409A means Section 409A of the Code and the regulations and guidance promulgated thereunder.

  • ERISA means the Employee Retirement Income Security Act of 1974, as amended.

  • Internal Revenue Code means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder.

  • Short-Term Deferral Period means the period ending on the later of the 15th day of the third month following the end of the Executive’s tax year in which the separation from service occurs and the 15th day of the third month following the end of the Company’s tax year in which the separation from service occurs; and

  • Statutory Penalties are those amounts awarded as a penalty, but are fixed in amount by statute.

  • Foreign Pension Plan means any plan, fund (including, without limitation, any superannuation fund) or other similar program established or maintained outside the United States of America by the Borrower or any one or more of its Subsidiaries primarily for the benefit of employees of the Borrower or such Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code.

  • Title IV means Title IV of the Social Security Act, 42 United States Code Section 601 et seq.;

  • Federal Income Tax means any Tax imposed by Subtitle A of the Code, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Employee Welfare Benefit Plan has the meaning set forth in ERISA Sec. 3(1).

  • Short-Term Payout means the payout set forth in Section 4.1.

  • Section means a section of the Act.

  • Treasury Regulations means the regulations promulgated under the Code.

  • Social Security Act means the Social Security Act of 1965 as set forth in Title 42 of the United States Code, as amended, and any successor statute thereto, as interpreted by the rules and regulations issued thereunder, in each case as in effect from time to time. References to sections of the Social Security Act shall be construed to refer to any successor sections.