Plan Anniversary Date definition
Examples of Plan Anniversary Date in a sentence
The Secondary Normal Retirement Benefit shall be paid in a lump sum in an amount equal to the hypothetical growth, if any, of the Director's Retirement Account from the immediately preceding Plan Anniversary Date, determined pursuant to the method set forth in Sections 2.1 and 2.2 hereof.
Within sixty (60) days following the end of each Plan Anniversary Date following the Director's Termination of Service after his Normal Retirement Date and continuing up until the Director's death, the Company shall pay a Secondary Normal Retirement Benefit to the Director.
Commencing on the first day of the month following the Director's Termination of Service after his Normal Retirement Date, the Company shall pay a Primary Normal Retirement Benefit to the Director which is equal to the Director's Retirement Account balance as of the Plan Anniversary Date immediately preceding the Director's Termination of Service (without adjustment for interest or earnings during the payment period).
Simulated Investment Number Two assumes a four percent (4%) pre-tax interest rate, assumes a charge for the prorated portion of the net implementation and administrative service fees associated with this Agreement, assumes the income tax rate to apply to be the Company's highest marginal tax rate for the previous calendar year, and assumes that interest shall accrue monthly and be compounded at each Plan Anniversary Date.
Eligible employees and dependents waiving coverage at the time of enrollment eligibility will be ineligible until the next Plan Anniversary Date of this Plan Agreement.
Eligible employees and their dependents enrolling agree to remain enrolled until the next Plan Anniversary Date of this Plan Agreement.
Except for qualifying family status changes, any request to change enrollment status will be allowed only on the Plan Anniversary Date of this Plan Agreement, and provided such request for change is received by DDPOK within the thirty (30) day period immediately following the effective date of the change.
Eligible employees or dependents failing to enroll within thirty (30) days of initial eligibility will automatically waive said eligibility until the next Plan Anniversary Date of this Plan Agreement.
Commencing on the first of the month following Separation from Service after the Normal Retirement Date, the Company shall pay a Primary Normal Retirement Benefit to the Director which is equal to the Retirement Account balance as of the Plan Anniversary Date immediately preceding Separation from Service (without adjustment for interest or earnings during the payment period).
The Secondary Normal Retirement Benefit shall be paid in a lump sum in an amount equal to the hypothetical growth, if any, of the Retirement Account from the immediately preceding Plan Anniversary Date, determined pursuant to the method set forth in Sections 2.1 and 2.2 hereof.