Qualified Retirement Plans definition

Qualified Retirement Plans means the following basic retirement plans sponsored by Wellman, Inc. for its employees: (a) the ESOP and (b) the Retirement Plan.
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Qualified Retirement Plans means any plan which the Company sponsors or in which it participates and which is qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the "Code"), provided that if the benefit under such plan includes amounts attributable to Xxxxxxx'x salary reduction or after-tax contribution to such plan, the amounts attributable to such contributions and earnings thereon shall be disregarded in determining the monthly amount attributable to such plan, and "Spouse" shall mean Xxxxxxx'x spouse, if any, to whom he is married at the time of commencement of the benefits described in this Section 3.2. In converting the benefits into a life annuity form or spousal benefit, the calculations shall be made at the time of commencement of benefits and not recalculated (unless and until Xxxxxxx shall no longer be married to his Spouse (including by reason of his Spouse's death)), and an interest rate equal to the Pension Benefit Guaranty Corporation interest rate for immediate annuities in effect on the first day of the calendar year in which benefits are to commence shall be used and the 83 IA Male mortality table shall be used. It is expressly acknowledged and agreed that the determination of the amounts payable to Xxxxxxx and his Spouse under this Section 3.2 shall not in any way cause Xxxxxxx or his Spouse to elect to take monthly distributions from the Company's Qualified Retirement Plans or any other payment form, and any and all permissible payment elections shall be available to him and his Spouse.
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Qualified Retirement Plans means one or more of the Savings Plan, Cash Balance Plan, Transition Pension Plan, HMR Pension Plan and RPR Pension Plan.
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Examples of Qualified Retirement Plans in a sentence

  • Due to the tax consequences, I have been advised to seek competent tax advice pertaining to this distribution.Notice to Qualified Plan Trustee(s) - Trustee(s) of Qualified Retirement Plans (such as Money Purchase Plans, Profit Sharing Plans, 401(k) Plans, Defined Benefit Plans, etc.) or 457(b) Plans must provide the Qualified Joint and Survivor Annuity Notice, when applicable, to plan participants.

  • Use Form 5329, Additional Taxes Attributable to Qualified Retirement Plans (Including IRAs), Annuities, and Modified Endowment Contracts, to report the excise taxes on excess contributions, premature distributions, and excess accumulations.

  • Contributions and distributions may have certain tax consequences under the Internal Revenue Code sections governing Individual Retirement Accounts and Qualified Retirement Plans.

  • An IRA is funded through contributions, transfers from existing IRAs, and rollovers from Qualified Retirement Plans (such as 401(k), 403(b), pension and /or 457 plans).

  • Generally, a Form 5329 (Additional Taxes Attributable to Qualified Retirement Plans (Including IRAs), Annuities, and Modified Endowment Contracts) must be filed if an individual owes taxes on premature distributions from, or excess contributions to, his Roth IRA.

  • An IRA is funded through contributions, transfers and rollovers from Qualified Retirement Plans (such as 401(k), 403(b), pension and /or 457 plans).

  • The Plan shall be administered by the Qualified Retirement Plans and Trusts Committee (the “Committee”).

  • THE GROUP2003HK$’0002002HK$’0002003HK$’0002002HK$’000Amounts payable under finance leases: Within one year 2,095 5 1,891 3In the second to fifth year inclusive2,549122,2818 4,644174,17211Less: future finance charges(472)(6)N/AN/A 4,172114,17211 Less: amount due within one year shown under current liabilities (1,891) (3)Amount due for settlement after twelve months 2,281 8The Group leases certain equipment under finance leases.

  • To claim this deduction, you must complete and include with the return Form AS 6042.1 - Deduction for Contributions to Qualified Retirement Plans and Tax on Certain Contributions.

  • Effective with the merger of the Replacement Plan into this Plan, the amount of any reduction of Qualified Plan Retirement benefits resulting from the deferral of compensation that would otherwise be recognized under the Qualified Retirement Plans shall be provided under this Plan.

Related to Qualified Retirement Plans

  • Qualified Retirement means any termination of your employment with the Company Group that occurs on or after your 60th birthday, at a time when no member of the Company Group is entitled to discharge you for Cause, so long as you have served the Company Group continuously for at least the five-year period immediately preceding that termination.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Continuing care retirement community means a residential

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Qualified Plans has the meaning set forth in Section 5.20.

  • Public employees retirement system means the retirement plan and program

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Disability retirement for plan 1 members, means the period

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • SERP has the meaning assigned thereto in Section 5(c) hereof.