Transition Participant definition

Transition Participant means an individual or Participant designated as such by the Plan Administrator.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Transition Participant means an Active Participant in the Plan as of the date of Separation from Service who satisfies the requirements of Section 6.04 of the Plan. In no event shall a Retired Participant in the Plan be considered a Transition Participant.

Transition Participant means a Participant who had a Separation from Service on or after January 1, 2005, but prior to November 2, 2007, and who has not taken a distribution of his Plan Benefit as of November 1, 2007.

Examples of Transition Participant in a sentence

A Transition Participant who continues as an Eligible Employee after the Transition End Date will begin accruing benefits under the cash benefit formula in Section 8.01 immediately following the Transition End Date.
If a Georgia Participant or a Transition Participant elects to receive his or her Georgia Benefit at or after attaining age 62, the amount of the benefit will not be reduced for early retirement.
A Georgia Participant or Transition Participant is not eligible to receive his or her Georgia Benefit prior to attaining age 55.
A Georgia Participant other than a Transition Participant will begin accruing benefits under the cash benefit formula in Section 8.01 of the Plan as of the Plan Merger Date.
A Georgia Participant or a Transition Participant who accrues a benefit under the cash benefit formula in Section 8.01 of the Plan attributable to service performed on or after the Plan Merger Date will make separate elections as to his or her Accrued Benefit and Georgia Benefit, provided, however, that payment may be made in one check if the same form is elected for both benefits.
A Transition Participant will continue accruing benefits under the Georgia Benefit Formula described in Section 1.05 of this Appendix through the Transition End Date.
Hours of Service completed by a Georgia Participant or a Transition Participant in the period beginning January 1, 2001 and ending May 31, 2001 will be taken into account for purposes of determining whether such individual will accrue a benefit under Section 8.01(a) of the Plan for the 2001 Plan Year (or hypothetical benefit in the case of a Transition Participant), but the amount of any such benefit will be based only on Compensation accrued by such individual while a Participant in the Plan.
The Georgia Benefit of a Georgia Participant or a Transition Participant will be payable upon such individual's attaining age 55, provided the participant has separated from service with all Affiliated Companies, and in any of the forms described in Section 9.02 of the Plan.
Alternatively, the surviving spouse of a Georgia Participant or a Transition Participant may elect a reduced benefit determined under Section 1.06, provided that benefit payments commence as of a date the participant would have attained one of the specified ages.
If a Georgia Participant or Transition Participant elects to receive his or her Georgia Benefit prior to attaining age 62, the following reduction factors will apply: 62 100 % 61 97 % 60 94 % 59 91 % 58 88 % 57 85 % 56 82 % 55 79 % The applicable percentage of the Georgia Retirement Program benefit shown above will be interpolated to the nearest month for ages between the ages shown.

More Definitions of Transition Participant

Transition Participant means a Participant as to whom the responsibility and liability for the payment of benefits accrued or payable under this Plan has been assumed by a Successor Plan Sponsor.

Transition Participant means a Participant or a person eligible to receive a Surviving Spouse Benefit or a Death Benefit as to whom the responsibility and liability for the payment of benefits accrued or payable under this Plan has been assumed by a Successor Plan Sponsor.

Transition Participant. - means the Employees on June 30, 2003 that were in an employment classification that potentially made them eligible for the Plan and that -

Transition Participant means an individual with an interest in the Georgia Retirement Program at May 31, 2001 who satisfies the following conditions: (1) the individual is an Eligible Employee on June 1, 2001; (2) the individual was not less than age 45 on December 31, 1999; (3) the sum of the individual's age and service recognized under the Georgia Retirement Program for benefit accrual purposes at December 31, 1999 was not less than 65 points; and (4) the individual had base pay and incentive pay of $80,000 or less in 1999.

Transition Participant means a Participant as to whom the responsibility and liability for the payment of benefits accrued or payable under a plan or plans of a Predecessor Plan Sponsor has been assumed by the Company and are payable under this Plan.

Transition Participant. (as defined in the Pension Plan) in the Pension Plan on the Distribution Date will have his or her pay with AI (or an AI ERISA Affiliate) after the Distribution Date recognized through December 31, 2006 using the Pension Plan's "transition final average pay" formula in calculating his or her minimum DB Plan benefit. In calculating a Transition Participant's otherwise applicable DB Plan benefit, the transition final average pay benefit shall apply as a minimum benefit. If AI does not recognize service through December 31, 2006 in the DB Plan in calculating the "transition final average pay" formula minimum benefit for Specified Participants, then AI will use reasonable efforts to provide, in the aggregate, the economic equivalent impact of such benefits under the DC Plan (only taking into account the incremental employer contributions), the DB Plan and/or such other retirement benefit plans or arrangements as AI may establish.