Defined Contribution Retirement Plan. Employees hired after December 31, 2006 and current employees hired on or before December 31, 2006 and who choose the defined contribution plan will be eligible to participate in the Defined Contribution Retirement Plan only. Employees who elected to participate in the Defined Contribution Plan will have their Defined Benefit Retirement Plan assets "frozen" effective December 31, 2006; that is, all benefits earned to date will be protected but no additional benefits will be earned. The Defined Contribution Retirement Plan will be funded according to the following formula:
Appears in 7 contracts
Samples: Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Defined Contribution Retirement Plan. Employees hired after December 31, 2006 and current employees hired on or before December 31, 2006 and who choose the defined contribution plan will be eligible to participate in the Defined Contribution Retirement Plan only. Employees who elected to participate in the Defined Contribution Plan will have their Defined Benefit Retirement Plan assets "βfrozen" β effective December 31, 2006; that is, all benefits earned to date will be protected but no additional benefits will be earned. The Defined Contribution Retirement Plan will be funded according to the following formula:
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Defined Contribution Retirement Plan. Employees hired after December 31, 2006 and current employees hired on or before December 31, 2006 and who choose the defined contribution plan will be eligible to participate in the Defined Contribution Retirement Plan only. Employees who elected to participate in the Defined Contribution Plan will have their Defined Benefit Retirement Plan assets "frozen" effective December 31, 2006; that is, all benefits earned to date will be protected but no additional benefits will be earned. The Defined Contribution Retirement Pension Plan will be funded according to the following formula:
Appears in 3 contracts
Samples: Agreement, Agreement, Employment Agreement
