Examples of PEC SRB in a sentence
For purposes of determining the Executive's accrued benefits under the preceding sentence, such benefits shall be determined as full benefits, without actuarial reduction, as if the Executive qualified for the Rule of Eighty-Five under the PEC Retirement Plan and PEC SRB (regardless of whether the Executive so qualifies).
Any payment of the Executive's vested accrued benefit under the PEC SRB pursuant to this paragraph 3.a. shall be in lieu of any payment under the PEC SRB itself and once paid pursuant to this Agreement, the Executive shall have no further claim to payment under the PEC SRB.
For purposes of determining the Executive's accrued benefits under the preceding sentence, such benefits shall be determined as full benefits, without actuarial reduction, as if the Executive qualified for the Rule of Eighty- Five under the PEC Retirement Plan and PEC SRB (regardless of whether the Executive so qualifies).
If Executive is terminated prior to completing three (3) years of employment with PEC or an Affiliate, Executive's 12-month average compensation for the purpose of calculating a benefit under the proceeding provisions shall be determined by utilizing all months of Executive's actual compensation that may be used to calculate a pension benefit under the PEC Retirement Plan and the PEC SRB.
For purposes of determining the Executive's accrued benefits under the preceding provisions of this paragraph 3.a., such benefits shall be determined as full benefits, without actuarial reduction, as if the Executive qualified for the Rule of Eighty-Five under the PEC Retirement Plan and PEC SRB (regardless of whether the Executive so qualifies).
Any payment of the Executive's deemed accrued benefit under the PEC SRB pursuant to this paragraph 3.a. shall be in lieu of any payment under the PEC SRB itself and once paid pursuant to this Agreement, the Executive shall have no further claim to payment under the PEC SRB.
Executive's benefit under the preceding provisions shall be determined as if Executive's participation in the PEC Retirement Plan and the PEC SRB commenced as of the first date of Executive's actual employment with Peoples Energy Services Corporation.
Such benefits shall be determined as full benefits, without actuarial reduction, as if the Executive qualified for the Rule of Eighty-Five under the PEC Retirement Plan and PEC SRB (regardless of whether the Executive so qualifies).
If the Executive’s benefit payments under the PEC SRB are delayed for six months to comply with Code Section 409A and he elects an annuity form of distribution under that plan, the annuity payments that otherwise would have been payable during the six months immediately following the Executive’s employment termination shall be aggregated and paid to the Executive all at once as soon as practicable following the date that is six months after the Executive’s employment termination date.
For the purpose of determining Executive's Article IV Accrued Benefit, such benefit shall be determined as full benefits, without actuarial reduction, as if the Executive qualified for the Rule of Eighty-Five under the PEC Retirement Plan and PEC SRB (regardless of whether the Executive so qualifies).