Examples of US Plans in a sentence
All material contributions, reserves or premium payments to U.S. Plans, accrued to the date hereof have been made or provided for.
No Reportable Event has occurred in the last five years as to any U.S. Plan, and the present value of all benefits under all U.S. Plans subject to Title IV of ERISA (based on those assumptions used to fund such U.S. Plans) did not, in the aggregate, as of the last annual valuation date applicable thereto, exceed the actuarial value of the assets of such U.S. Plans allocable to such benefits.
There are no pending or reasonably anticipated material claims against or otherwise involving any of the U.S. Plans and no suit, action or other litigation (excluding claims for benefits incurred in the ordinary course of Plan activities) has been brought against or with respect to any U.S. Plan.
In connection with the Acquisition, the Company acquired $625.1 of additional obligations and $524.2 of assets related to postemployment benefit plans for certain groups of employees at the Company’s new operations outside of the U.S. Plans vary depending on the legal, economic, and tax environments of the respective country.
For the 401(k), there is a two-year vesting period beginning from the date of hire, and for the EUPP, there is a six-month vesting period from the employee's enrollment date in the plan.Obligations for contributions to the Canadian and U.S. Plans are recognized as an expense in the consolidated statements of income (loss) when the employee makes a contribution.