Pension Transfer Date definition
Examples of Pension Transfer Date in a sentence
Following the SpinCo U.S. Pension Transfer Date, Honeywell and the Honeywell Group shall have no further liability (either under this Agreement or otherwise) to provide the SpinCo U.S. Pension Participants with benefits under the Honeywell Pension Plan.
On the Pension Transfer Date, Alltel shall transfer, or cause to be transferred, in accordance with Section 414(l) of the Code, the assets and liabilities attributable to the Spinco Employees and Spinco Individuals from the Alltel Corporation Pension Plan and its related trust to the Spinco Pension Plan and its related trust.
Pension Transfer Date means the date on which the assets are transferred pursuant to Section 3.01(c) of the Agreement, which date shall be as soon as reasonably practicable after the establishment of the Spinco Pension Plan (as defined herein).
Through and including the Pension Transfer Date, OPC shall remain primarily responsible for causing benefits due under the THUMS Pension Plan through such date to be paid from the OPC Master Trust, with any such benefits paid reducing the CRC Pension Assets.
The intent of this process is to allocate assets in accordance with PBGC Section 4044 using PBGC assumptions at the Pension Transfer Date.