Pension benefit obligation definition

Pension benefit obligation means the actuarial present value of credited projected benefits, determined as the actuarial present value of benefits estimated to be payable in the future as a result of employee service attributing an equal benefit amount, including the effect of projected salary increases and any step rate benefit accrual rate differences, to each year of credited and expected future employee service.
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Pension benefit obligation means the pension benefit obligation calculated as of September 30, 2000 by increasing the pension benefit obligation at January 1, 2000 (based on calculations set forth in the Pomosin GmbH Net Periodic Pension Cost report) by the product of (x) 9/12, and (y) the excess of the projected benefit obligation at December 31, 2000 over the pension benefit obligation at January 1, 2000 (all as set forth in the Cost report, provided in Section 6.1(c) of the Disclosure Schedule). Notwithstanding anything in this Section 6.1(c) to the contrary, the Pension Transfer Amount shall be paid in full, in a lump sum amount, upon the earliest to occur of (A) the initial public offering of shares of HGG or Issuer; (B) the sale of substantially all of the assets or business of HGG or Issuer; or (C) the amount of the periodic payments (as set forth in Clause 6.1(c)(ii), above) are, when paid, insufficient to cover the payment of the then-current pension
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Examples of Pension benefit obligation in a sentence

  • Pension benefit obligation is the present value of the defined benefit obligation at the balance sheet date less the adjustments for unrecognized actuarial gains or losses and past service costs.

  • Pension benefit obligation" means the actuarial present value of credited projected benefits, determined as the actuarial present value of benefits estimated to be payable in the future as a result of employee service attributing an equal benefit amount, including the effect of projected salary increases and any step rate benefit accrual rate differences, to each year of credited and expected future employee service.Sec.

  • Fire lanes on private property shall be designated in writing by the Fire Marshal of in accordance with the provisions of the Uniform Fire Code N.J.A.C. 5:70-1.1 et seq., as may be amended from time to time.B Markings.

  • Pension benefit obligation and compensated absences will be paid from the fund from which the employees’ salaries are paid.NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 1999(Continued) 13.

  • Following are reconciliations of the pension benefit obligation and the value of plan assets for 1998 and 1997: 1998 1997 Pension benefit obligation Balance, beginning of year ..

  • Other Long-Term LiabilitiesOther long-term liabilities consisted of the following: 2017 2016 Pension benefit obligation $ 38.8$33.8 Deferred revenue 30.928.5 Long-term related-party liabilities 28.820.1 Product warranties 3.5 16.

  • Global epidemiol- ogy of hepatitis C virus infection: new estimates of age-specific antibody to HCV seroprevalence.

  • Pension benefit obligation is valued by K A Pandit Actuarial Valuers.

  • The General Meeting will be held at 10.00 a.m. on 24 August 2009.

  • Pension benefit obligation – Fair value of the pension benefit obligation is valued as a level 2 input, and is based on the actuarially-determined accumulated pension benefit obligation.

Related to Pension benefit obligation

  • Pension Plan means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years.

  • Employee Pension Benefit Plan has the meaning set forth in ERISA Section 3(2).

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.

  • BENEFIT LIMIT means the total benefit allowed under this plan for a covered healthcare service. The benefit limit may apply to the amount we pay, the duration, or the number of visits for a covered healthcare service.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.