Prior Plan Benefit definition

Prior Plan Benefit means a Participant’s “accrued benefit” as defined under the Prior Plan and as determined as of the Transition Date, indexed to reflect the growth in the Participant’s rate of Base Pay as set forth below.

Prior Plan Benefit means the Member’s accrued benefit under the Prior Plan, as described in section A.1 of the Appendix which is attached hereto and hereby made a part of the Plan.

Prior Plan Benefit means the benefit described in Appendix 3.1(b)(ii).

Examples of Prior Plan Benefit in a sentence

• You may not elect to begin to receive payment of your vested Prior Plan Benefit in the form of monthly payments beginning before you attain age 55.

• It is an express condition precedent to the effectiveness of this Agreement that the Employee execute and deliver the Waiver of Prior Plan Benefit attached as Schedule “B” to this Agreement terminating the Employee’s rights under such prior plan and any related agreement(s), whether written or oral, and under any other supplemental benefit plan provided by the Employer which affords the Employee benefits in the event of the Employee’s retirement or a Change in Control of the Employer.

• Although the Prior Plan Benefit is not intended to be subject to Section 409A, neither the UTC Companies nor any director, officer, or other representative of a UTC Company shall be liable for any adverse tax consequence suffered by a Participant or Beneficiary if a Prior Plan Benefit becomes subject to Section 409A.

• In addition to the provisions in the SPD regarding what happens to your benefit if you die before payment begins, if you die before payment of your Prior Plan Benefit begins and you are not married on the date of your death, no preretirement death benefit of your Prior Plan Benefit is payable.

• To the extent that the Employee is ---------------------------- a participant in any other supplemental benefit plan provided by the Employer which affords the Employee benefits in the event of the Employee's retirement or death or a change in control of the Employer, it is an express condition precedent to the effectiveness of this Agreement that the Employee execute and deliver the Waiver of Prior Plan Benefit attached as Schedule "D" to this Agreement.

More Definitions of Prior Plan Benefit

Prior Plan Benefit means a Participant’s benefit vested and accrued under the Prior Plan, determined as of December 31, 2004.

Prior Plan Benefit means a Continued Employee's accrued benefit under the Prior Plan as of July 2, 1990 (after reduction by any applicable offsets under the Prior Plan) with respect to which and to the extent that the Plan has received a transfer of assets and liabilities from the Prior Plan.

Prior Plan Benefit means the benefit of a Participant under the Horace Mann Executive Supplemental Employee Retirement Plan (“ESERP”) represented by the Participant’s “NQMPPP Feature account” which benefit was transferred to the Plan pursuant to the provisions of the ESERP and credited to the Participant’s Account in the Plan as of April 1, 2002.

Prior Plan Benefit means the benefit amount calculated as a ------------------ Participant's "Prior Plan Benefit" (if any) pursuant to Article V of the Retirement Plan.

Prior Plan Benefit means an amount equal to an Executive’s account balance, if any, in the Prior Plan that is transferred to the Plan upon termination of the Prior Plan.

Prior Plan Benefit means an amount which was transferred to the SSIP directly from a qualified plan and trust described in Section 401(a) and, if applicable, 401(k) of the Code, which was maintained by the Company or an Affiliated Company, and the transfer has been approved by the Committee, and subsequently transferred to this Plan from the SSIP.

Prior Plan Benefit means an amount which was transferred to this Plan directly from a qualified plan and trust described in Section 401(a) and, if applicable, 401(k) of the Code.