Merck SERP definition

Merck SERP means the MSD Supplemental Retirement Plan.
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Examples of Merck SERP in a sentence

  • Unless otherwise required by non-U.S. law, where applicable, Merck will report and withhold, as necessary, on Merck SERP and Merck DCP distributions with respect to Liabilities it retains under Sections 3.03 and 3.04(b) with respect to Merck Employees, Former Employees, and Organon Employees.

  • The Merck SERP shall continue to be responsible for Liabilities in respect of all Employees (including Transferred Employees) and Former Employees accrued thereunder.

  • Except as otherwise provided by Code Section 409A, a Transferred Employee shall not be considered to have undergone a “separation from service” for purposes of Code Section 409A and the Merck SERP solely by reason of the Spin-Off, and, following his or her Transfer Date, the determination of whether a Transferred Employee has incurred a separation from service with respect to his or her benefit in the Merck SERP shall be based solely upon his performance of services for the Organon Group.

  • No Employees of the Organon Group shall accrue any benefits under the Merck SERP following the later of the Distribution Date and their applicable Transfer Date, but the Merck SERP shall credit such Employee’s continuous service with the Organon Group following the Transfer Date for purposes of early retirement eligibility and early retirement subsidies.

Related to Merck SERP

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • SERP Benefit means the benefit described in Section 5.1.

  • Accrued Benefit have the meanings specified in ERISA.

  • Retirement program means a program of rights and obligations which a county, city, village, or township establishes, maintains, or participates in and which, by its express terms or as a result of surrounding circumstances, does 1 or more of the following:

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

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

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

  • Death master file match means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, an annuity owner or a retained asset account holder.[PL 2017, c. 129, §1 (NEW).]

  • Individual account program means the defined contribution individual account program of

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • DPSP means a deferred profit sharing plan within the meaning of the Tax Act;

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Retirement Eligibility means Employee’s attainment of 60 years of age and ten years of continuous employment with Corporation.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Disability Benefit means the benefit set forth in Article 8.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).