protected benefits definition
protected benefits means:
(a) Accrued benefit of any Participant, directly or indirectly. Plan provisions indirectly affecting accrued benefits include, for example, provisions relating to Years of Service and Breaks-in-Service for determining benefit accrual, and to actuarial factors for determining optional or early retirement benefits.
protected benefits means, with respect to a Retiree who became a participant in the Plan before the Change in Control, the benefits that accrue under the Plan with respect to compensation paid and service credited up to the last day of the Change in Control Plan Year.
protected benefits has the meaning set forth in Section 8.7(a).
More Definitions of protected benefits
protected benefits means the benefits under the Scheme but only to the extent to which the reduction thereof would be contrary to regulations made under paragraph 4(2) of Schedule 5 to the Act.
protected benefits means those takaful and insurance benefits that are separately protected by the takaful and insurance benefits protection system under Part V;
protected benefits with respect to that restored Accrued Benefit, in accordance with applicable Treasury regulations. The Committee shall not restore a re-employed Participant's Accrued Benefit under this paragraph if:
(1) the distribution was on account of the Employee's separation from service, and such repayment is not made before the end of whichever of the following ends earlier:
(a) Five (5) years after the first day the Participant is subsequently employed, or
(b) The close of the first period of Five Consecutive 1 Year "Breaks in Service" commencing after the distribution.
(2) the distribution occurs for a reason other than on account of the Employee's separation from service, and such repayment is not made before 5 years after the date of the distribution, or
(3) The distribution was not less than the amount of his accrued benefit determined under the same "protected form of benefit" as the distribution was made.