Pension portability definition

Pension portability means the recognition and continuation in a successor service contract of the predecessor service contract employees' pension rights and benefits.
Pension portability means the recognition and continuation in a successor service contract of the predecessor service contract’s pension rights and benefits for contractor employees.

Examples of Pension portability in a sentence

  • Andrietti, V and Hildebrand, V.A. (2001) "Pension portability in the United States.

  • Pension portability is receiving increasing attention as the region strives to integrate.

  • Pension portability is the capacity to preserve the actuarial value of accrued pension rights when switching jobs.

  • Definitions.1837.104 Personal services contracts.1837.110 Solicitation provisions and con- tract clauses.1837.110–70 NASA solicitation provision and contract clauses.1837.170 Pension portability.

  • Pension portability has encouraged continued savings, by allowing participants to transfer their funds to other qualified retirement plans, instead of taking distributions at termination.

  • De…nit ions Pension portability can be de…ned as the capacity of workers covered by an occupational pension plan to preserve t he act uarially fair value of their accrued r ights while moving to a di¤erent employer and possibly to a di¤erent pension scheme.

  • This action concerns a concept referred to colloquially as “pension portability.” Pension portability refers to the ability of an employee who changes employers (and changes pension plans) to transfer pensionable service from one pension plan into another.

  • Based largely on these principles, member and beneficiary rights arise in the following areas: Access to plan participation, equal treatment and entitlements under the pension plan; Benefit accrual and vesting rights; Pension portability and rights of early leavers; Disclosure and availability of information; Additional rights in the case of member-directed, occupational plans; and Entitlement process and rights of redress.

  • Pension portability directive of 30 April 2014; Directive on Institutions for occupational retirement provision the government of pension schemes, IORP II, January 2017 EU/2016/2341 v.

  • Pension portability and rights of early leavers 3.1 Individuals who are changing jobs should be able, upon request, to move the value of their vested account balance in a defined contribution plan from their former employer’s pension plan either to the plan of their current employer (where permitted) or to a similar, tax- protected environment provided by an alternative financial instrument or institution.

Related to Pension portability

  • Portability means transfer by an Individual Health Insurance Policyholder (including family cover) of the credit gained for pre-existing conditions and time-bound exclusions if he/she chooses to switch from one insurer to another.

  • Interim Number Portability or “INP” means the use of existing and available call routing, forwarding, and addressing capabilities (e.g. remote call forwarding) to enable a Customer to receive Telephone Exchange Service provided by any Local Exchange Carrier operating within the exchange area with which the Customer’s telephone number(s) is associated, without having to change the telephone number presently assigned to the Customer and regardless of whether the Customer’s chosen Local Exchange Carrier is the carrier that originally assigned the number to the Customer.

  • Title IV-E Foster Care means a federal program authorized under §§ 472 and 473 of the Social

  • 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.

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

  • Number Portability is As Defined in the Act.

  • 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.

  • Pension Plans The meaning specified in Section 4.1(v).

  • Pension program means the defined benefit pension program of the Oregon Public Service

  • Railway Group Standards means standards authorised pursuant to

  • Health and Welfare Plans means any plan, fund or program which was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, medical (including PPO, EPO and HDHP coverages), dental, prescription, vision, short-term disability, long-term disability, life and AD&D, employee assistance, group legal services, wellness, cafeteria (including premium payment, health flexible spending account and dependent care flexible spending account components), travel reimbursement, transportation, or other benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs or day care centers, scholarship funds, or prepaid legal services, including any such plan, fund or program as defined in Section 3(1) of ERISA.

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • Clean air standards, as used in this clause, means:

  • 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.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • Credit accident and health insurance means insurance on a debtor to provide

  • HIPAA means the Health Insurance Portability and Accountability Act of 1996, as amended.

  • Accident and health insurance means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions and as may be specified in the valuation manual.

  • HITECH Act means the Health Information Technology for Economic and Clinical Health Act, TitleXIII, Subtitle D, Part 1 & 2 of the American Recovery and Reinvestment Act of 2009.

  • Environmental Policy means to conserve energy, water, wood, paper and other resources, reduce waste and phase out the use of ozone depleting substances and minimise the release of greenhouse gases, volatile organic compounds and other substances damaging to health and the environment, including any written environmental policy of the Customer;

  • Title IV-D means part D of title IV of the social security act, 42 USC 651 to 669b.

  • Title IV-E means title IV-E of the Social Security Act [Pub. L. 96-272, title I, sec. 101(a)(1); 94 Stat. 501; 42 U.S.C. 670 et seq.], as amended.

  • National Pollutant Discharge Elimination System (NPDES) means the national program for issuing, modifying, revoking and reissuing, terminating, monitoring, and enforcing permits and imposing and enforcing pretreatment requirements, under Sections 307, 318, 402, and 405 of CWA. The term includes an approved program.

  • Financial Regulations means regulations made under section 21 of the Act;

  • benefit liabilities has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value” have the meaning specified in section 3 of ERISA.

  • Fair Labor Standards Act means the Fair Labor Standards Act, 29 U.S.C. §201 et seq.