Examples of Rehired Participant in a sentence
In the event a Participant is a Rehired Participant, he/she will be eligible to receive notifications as specified in Section 2 and will be eligible to submit an Indication of Preference or Election to Defer as specified in Section 3, if the Participant agrees to the suspension of payments from his/her Deferred Compensation Account during the period of reemployment by the Company.
Any Rehired Participant (including former Grandfathered Participants and former participants in The Phoenix Companies, Inc.
This Section 4.3 applies to any Rehired Participant who as of the time of his Commencement Date has an Account balance in the Plan or has a Deferral Election on file for the calendar year.
In the calculation of the Accrued Benefit attributable to the Pension Benefit for a Rehired Participant, all Credited Service shall be taken into account, and all Periods of Service shall be taken into account in determining Average Annual Earnings, subject at any future Annuity Starting Date to the offset described in this Section 2.3B.
Section 2.3B Re-employment -- Calculation of Accrued Benefit and Suspension of Benefit Payments Any Rehired Participant shall have annuity payments from the Plan suspended upon his Re-employment Commencement Date, and the provisions of Section 6.2A shall apply.
A Rehired Participant described in this Section 4.3(a) shall not be permitted to make a Payment Election in accordance with Section 4.1(a).
Notwithstanding anything in the Plan to the contrary, the value of all prior distributions from the Plan shall reduce the Actuarial Equivalent value of the Accrued Benefit for a Rehired Participant, and any of his FAP Benefit, Pension Equity Benefit, and any Cash Balance Benefit under the Plan, according to the source of the prior distribution.
In the calculation of the Accrued Benefit attributable to the Cash Balance Benefit for a Rehired Participant, the Cash Balance Account of such Rehired Participant shall be restored, adjusted according to the Periodic Interest Rate from any Annuity Starting Date, subject at any future Annuity Starting Date to the offset described in this Section 2.3B.
This Section 3.1 applies to each Newly Eligible Participant whose Commencement Date occurs after the first day of a calendar year but prior to November 1 of such calendar year (or such earlier date as specified by the Committee from time to time), excluding any Rehired Participant who as of the time of his Commencement Date has an Account balance in the Plan or has a Deferral Election on file for the calendar year.
In all other respects the Payment Election will comply with the requirements of Section 4.1(b) as to the form of payment that may be elected by the Rehired Participant.