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 ▇▇▇▇▇▇▇'▇ 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 ▇▇▇▇▇▇▇'▇ 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 ▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇ and his Spouse under this Section 3.2 shall not in any way cause ▇▇▇▇▇▇▇ 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

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

  • Section 4975 of the Code imposes essentially the same prohibited transaction restrictions on, among other things, tax-qualified retirement plans described in Section 401(a) of the Code (Qualified Retirement Plans) and on Individual Retirement Accounts described in Sections 408(a) and (b) and 408A of the Code (collectively, Tax-Favored Plans).

  • For Individual Retirement Accounts and Qualified Retirement Plans: Axos Clearing LLC as Custodian FBO [insert account holder and type].

  • Master Services Agreement between Abitibi Consolidated Sales Corporation and W▇▇▇▇ Fargo, effective September 1, 2006, for Certain Qualified Retirement Plans (the defined benefit plans).

  • The Buyer will take such actions as are necessary to ensure that the Company Employees who are employed by the Company immediately prior to the Closing will have, immediately following the Closing, fully vested and nonforfeitable interests in their benefits accrued under Buyer Qualified Retirement Plans and will not be required to satisfy any service condition to be eligible to participate in a Buyer Qualified Retirement Plan.

  • If used in conjunction with an ERISA account the service provided may be deemed an ERISA Section 3(21)(a)(ii) Limited Services Fiduciary service that makes recommendations to Qualified Retirement Plans and Plan participants through non-discretionary advice.

  • Additionally, the Plan has also been designed to replace benefits lost by certain participants whose compensation exceeds the amounts eligible for inclusion in all ERISA - Qualified Retirement Plans of First Midwest, so that such employees can be maintained on the same basis as all other employees of First Midwest with respect to retirement plan benefits.

  • The College shall sponsor a 401(a), 403(b) and 457(b) Qualified Retirement Plans (i.e., Bencor, TIAA).

  • For purposes of -------------------------------------------------- calculating Final Average Pay under the Unocal Retirement Plan and the Non Qualified Retirement Plans, Employee shall be deemed to have received an RICP award of $200,004 with respect to 1997, notwithstanding the actual amount of award under Section 3(c).

  • Unless Parent provides such written notice to the Company prior to the Closing, the Company shall provide Parent with evidence that such Qualified Retirement Plan(s) have been or will be terminated effective as of immediately prior to and contingent upon the occurrence of the Closing, pursuant to resolutions of the board of directors of the Company or the Post-Restructuring Company Subsidiaries, as the case may be.