SBERA definition
Examples of SBERA in a sentence
The Trustees of SBERA, through the Association’s Investment Committee, select investment managers for the common and collective trust portfolio.
SBERA offers a common and collective trust as the underlying investment structure for pension plans participating in the Association.
In lieu of the lump sum Retirement Benefit provided in Section 1.18, upon request the Executive may obtain an optional form of payment that is the Actuarial Equivalent of such lump sum payment; provided that such form is a permitted form of benefit under the SBERA Pension Plan, and provided that such request complies with the provisions of Section 409A of the Code and any regulations or other Internal Revenue Service guidance promulgated thereunder.
The Employer shall be the named fiduciary and Plan Administrator except to the extent the Employer is a member of SBERA or unless an individual or other entity (excluding the Trustee or Custodian, unless they are the Employer sponsoring the Plan) is named to serve in such capacity.
Pension plan The Bank provides basic and supplemental pension benefits for eligible employees through the Savings Banks Employees Retirement Association's ("SBERA") Pension Plan.
The Employer shall be the named fiduciary and Plan Administrator except to the extent the Employer is a member of SBERA or if the Employer has designated another entity as Plan Administrator.
Effective January 1, 2000, for employers who are members of SBERA, the twelve (12) consecutive month period beginning on January 1 of each year shall become the Plan Year.
Rollover Select is offered only to former participants of SBERA as a rollover IRA option.
For Employers who are members of the Savings Banks Employees Retirement Association (SBERA), Xxxxxx Xxxxxx, Xx. shall be the Plan Administrator.
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