New Pension Plan definition
Examples of New Pension Plan in a sentence
Buyer will not amend the New Pension Plan, or permit the New Pension Plan to be amended, to eliminate any benefit accrued as of the Effective Time, whether or not vested, with respect to which liabilities are transferred pursuant to this Paragraph B.
Seller will provide to Buyer evidence reasonably satisfactory to Buyer that the New Pension Plan is qualified under section 401(a) of the Code and is in compliance with the funding requirements of section 302 of ERISA and section 412 of the Code.
Seller will not take any action to fully vest the Business Employees in their accrued benefits in the New Pension Plan.
The New Pension Plan will be a defined benefit pension plan qualified under section 401(a) of the Code and will be identical to the Seller Pension Plan with respect to the Transferred Employees and Other Plan Participants and provide a future rate of benefit accrual equal to the future rate of benefit accrual provided under the Seller Pension Plan.
From and after such date, the New Pension Plan will be solely responsible for all benefits due to Business Employees and Other Plan Participants under the Seller Pension Plan, whether arising prior to, or after, the Closing Date.
Interest from the date of determination of the Section 4044 Amount to the date of the transfer of assets to the New Pension Plan will be compounded daily, and computed at the Prime Rate as of the Spin-Off Date.
March 9, 2018 ▇▇▇▇ ▇▇▇▇▇▇ National Representative Unifor RE: New Pension Plan Dino, Effective upon ratification, the Company and the Union will begin the process of establishing a new defined contribution plan for persons employed and not enrolled in the existing Pension Plan.
If there are Future Service deficits under the New Pension Plan, these deficits will be recognized by Stelco for accounting purposes in its financial statements in accordance with accounting standards.
New Pension Plan for Employees Hired on or After July 1, 2009 but before July 20, 2012 In accordance with the July 24, 2008, Memorandum of Agreement ratified by DCAA on July 25, 2008, and the September 21, 2009, Addendum 1 between City and DCAA, a new pension plan for DCAA-represented employees hired on or after July 1, 2009 but before July 20, 2012, is established.
From and after such date, the New Pension Plan will be solely responsible for all benefits due to Transferred Employees and Other Plan Participants under the Seller Pension Plan, whether arising prior to, or after, the Closing Date.