Examples of Prior Plan Document in a sentence
The rules of this Plan document, rather than those of the Prior Plan Document, will govern new deferrals.
This attachment may be used by an Adopting Employer to document protected benefits and other Prior Plan Document provisions that apply to some or all of the assets of the Adopting Employer’s Plan.
The protected benefits and other Prior Plan Document provisions set forth in this Attachment are limited to those which have been the subject of a prior determination letter, opinion letter, or advisory letter, and which do not address an issue which is not permitted in a Pre-approved Plan, as described in section 6.03 of Revenue Procedure 2017-4.
Except to the extent set forth in Article I, the applicable Prior Plan Document applies to all amounts deferred and accounts established under the Plan with respect to Compensation that but for a deferral election under such document would have otherwise been paid in 2020 or an earlier calendar year and Company Contributions credited to a Participant’s Account(s) with respect to any such Compensation.
This document supersedes the document implementing the terms of the Plan as in effect prior to the date of this amendment and restatement (the “Prior Plan Document”); it being understood that nothing in this document shall be deemed to provide for distributions with respect to amounts deferred under the Plan at any times or upon any events other than as provided under the Prior Plan Document.
Notwithstanding any election made by a Participant, if the balance in a Participant’s Accounts established under the Plan (including under the Prior Plan Document) as of the Participant’s Separation from Service is less than $50,000, then such Participant’s Accounts shall be paid in a single lump sum in the seventh month following the Participant’s Separation from Service.
By submission of a clear and detailed written notice, the proponent may amend or withdraw the proposal prior to the closing date and time.
Where this Plan document is being adopted to amend another plan that contains a protected benefit not provided for in this document, the Employer must complete a “Protected Benefit and Prior Plan Document Provisions Attachment,” describing such protected benefit which, will become part of the Plan.
Plan Restatement – If this Plan is an amendment or restatement of a Prior Plan Document, each Employee who was a Participant under the Prior Plan Document before the Effective Date will continue to be a Participant in this Plan.B. Effective Date – If this is an initial adoption of the Plan by the Employer, an Employee will become a Participant in the Plan as of the Effective Date if the Employee has met the eligibility requirements of Plan Section 2.01 as of such date.
For Senior Managers with a Separation from Service Date prior to January 1, 1989, the terms of the Prior Plan Document shall apply, and for Senior Managers with a Separation from Service Date prior to December 31, 1995, the terms of this Plan which were in effect on the Separation from Service Date shall apply.