SERP Benefit A definition

SERP Benefit A means the benefit provided pursuant to Section 2.3.
Sample 1Sample 2Sample 3

Examples of SERP Benefit A in a sentence

  • SERP Benefit A provides a supplemental pension benefit, the amount of which shall be equal to the greater of (a) or (b), if applicable, subject to (c) below.

  • An employee may be designated as a Participant for purposes of SERP Benefit A and/or SERP Benefit B.The Chief Executive Officer, the Board or the Compensation Committee of the Board shall have the discretion to exclude a Participant from continued participation in the SERP Benefit with such exclusion becoming effective as of the first day of the immediately following Plan Year.

  • Participants whose SERP Benefit A vested and began to be paid on and after January 1, 2005 and before January 1, 2009, received either the default payment form of a joint and survivor annuity payment or an actuarial equivalent form of annuity payment, as provided under the Legacy Plan’s form of payment provisions.

  • The Company provides a pension make‑whole benefit for Participants who are not, nor at any time become, eligible for SERP Benefit A under the WEC Energy Group Supplemental Pension Plan (previously, the Wisconsin Energy Corporation Supplemental Pension Plan) (the "SPP").

  • Beginning as early as 1995, for each Plan Year in which a Participant is eligible to accrue a SERP Benefit A, the Participant’s Account Balance will be credited with a benefit credit equal to (i) the “relevant percentage” of the Participant's Pension Eligible Earnings for the Plan Year less (ii) the amount credited to the Participant’s RAP cash balance account for such year.

  • To conclude with, it will discuss the lessons learned in building the system.

  • Beginning as early as 1995, for each Plan Year in which a Participant is eligible to accrue a SERP Benefit A, the Participant’s Account Balance will be credited with a benefit credit equal to (i) the “relevant percentage” of the Participant's Pension Eligible Earnings for the Plan Year less (ii) the amount credited to the Participant’s RAP cash Exhibit 10.1 balance account for such year.

  • An employee may be designated as a Participant for purposes of SERP Benefit A and/or SERP Benefit B.

  • An employee may be designated as a Participant for purposes of SERP Benefit A and/or SERP Benefit B.The Chief Executive Officer of the Company, the Board or the Compensation Committee of the Board shall have the discretion to exclude a Participant from continued participation in the SERP Benefit with such exclusion becoming effective as of the first 6 day of the immediately following Plan Year.

  • Participants whose SERP Benefit A vested and began to be paid on and after January 1, 2005 and before January 1, 2009 received either the default payment form of a joint and survivor annuity payment or an actuarial equivalent form of annuity payment, as provided under the Legacy Plan's form of payment provisions.

Related to SERP Benefit A

  • SERP Benefit means the benefit described in Section 5.1.

  • Accrued Benefit have the meanings specified in ERISA.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

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

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Employment benefits means all benefits provided or made

  • Retirement Benefit means the benefit set forth in Article 5.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

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

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Disability Benefit means the benefit set forth in Article 8.

  • Termination Benefit means the benefit set forth in Article 7.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Separation Benefits has the meaning accorded such term in Section 3.04.

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

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

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.