Pension Enhancements Sample Clauses

Pension Enhancements. The parties hereby incorporate the pension plan enhancements outlined in the Letter of Understanding dated December 12, 2000 (Schedule “A”, Memorandum of Settlement dated December 21, 2000). These enhancements, effective July 1, 2000, are:
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Pension Enhancements. An amount payable under the SERP equal to the positive difference, if any, between:
Pension Enhancements. An amount equal to the positive difference, if any, between
Pension Enhancements. In October 2006 changeG had to be made to the way redundancy paymentG are calculated following the introduction of the Age DiGcrimination RegulationG. ThiG waG becauGe the method of calculating redundancy paymentG waG linked to the age of an employee in a way that did not comply with the Gtatutory redundancy calculation. Although the redundancy calculation changed in October we agreed with Nationwide to delay any change to the way penGion enhancementG are calculated under SERA. PenGion enhancementG provide an additional payment to an employee'G penGion upon redundancy provided they meet the eligibility criteria - critically having had 10 yearG' Gervice in the penGion fund and aged over 40. We Gought the delay becauGe we wanted to fully underGtand the implicationG of the Age regulationG in relation to PenGion ProviGionG. ThiG part of the regulationG did not come into force until 1 December 2006. I am pleaGed to adviGe memberG that having worked with Nationwide for the paGt Gix monthG or Go we are now able to confirm that PenGion EnhancementG within SERA will be retained for exiGting penGion fund memberG and for anyone joining the penGion fund up until 31 March 2007. It haG, however, been neceGGary to amend the way in which the enhancementG are calculated - with total length of Gervice with Nationwide being a new determinant rather than length of memberGhip in the PenGion Fund and age. ThiG meanG there will be no loGG of benefit and for thoGe whoGe length of Gervice exceedG their memberGhip of the fund there will be a modeGt benefit in the event of redundancy. PenGion enhancementG are an unuGual feature of modern redundancy agreementG and therefore I am delighted that we have been able to Gecure thiG benefit for exiGting fund memberG.

Related to Pension Enhancements

  • Pension Contributions 19.2.3.1 Unless required by law to commence receiving a pension prior to the Member’s actual retirement date (i.e., currently December 31 of the year in which the Member attains age sixty-nine (69)) the Member who postponed retirement beyond his or her TRD will continue to make pension contributions.

  • System Enhancements State Street will provide to the Fund any enhancements to the System developed by State Street and made a part of the System; provided that State Street offer the Fund reasonable training on the enhancement. Charges for system enhancements shall be as provided in the Fee Schedule. State Street retains the right to charge for related systems or products that may be developed and separately made available for use other than through the System.

  • Credit Enhancement 55 SECTION 12.

  • Pension All present employees enrolled in the Hospital's pension plan shall maintain their enrolment in the plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions.

  • Additional Benefits/Card Enhancements The Credit Union may from time to time offer additional services to your account, such as travel accident insurance, at no additional cost to you. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan:

  • Pension and Welfare Plans During the twelve-consecutive-month period prior to the Closing Date and prior to the date of any Credit Extension hereunder, no steps have been taken to terminate any Pension Plan, and no contribution failure has occurred with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA. No condition exists or event or transaction has occurred with respect to any Pension Plan which might reasonably be expected to result in the incurrence by the Borrowers or any member of the Controlled Group of any material liability, fine or penalty. Except as disclosed in Item 6.11 of the Disclosure Schedule, neither any Borrower nor any member of the Controlled Group has any contingent liability with respect to any post-retirement benefit under a Welfare Plan, other than liability for continuation coverage described in Part 6 of Title I of ERISA.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • Pension Matters Schedule 7.17 of the Disclosure Schedule sets forth, as of the date hereof, a complete and correct list of, and that separately identifies, (a) all Title IV Plans, (b) all Multiemployer Plans and (c) all material Benefit Plans. Each Benefit Plan, and each trust thereunder, intended to qualify for tax exempt status under Section 401 or 501 of the Code or other Requirements of Law has received a favorable determination letter from the IRS, or is entitled to rely upon a favorable opinion letter from the IRS, and nothing has occurred since the date of such determination or opinion letter that could adversely affect the qualified status of such Benefit Plan. Except for those that could not, in the aggregate, have a Material Adverse Effect, (x) each Benefit Plan is in compliance with applicable provisions of ERISA, the Code and other Requirements of Law, (y) there are no existing or pending (or to the knowledge of any Obligor, threatened) claims (other than routine claims for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or investigation involving any Benefit Plan to which any Obligor incurs or otherwise has or could have an obligation or any liability or Claim and (z) no ERISA Event is reasonably expected to occur. Borrower and each of its ERISA Affiliates has met all applicable requirements under the ERISA Funding Rules with respect to each Title IV Plan, and no waiver of the minimum funding standards under the ERISA Funding Rules has been applied for or obtained. As of the most recent valuation date for any Title IV Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is at least 60%, and neither Borrower nor any of its ERISA Affiliates knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage to fall below 60% as of the most recent valuation date. As of the date hereof, no ERISA Event has occurred in connection with which obligations and liabilities (contingent or otherwise) remain outstanding. No ERISA Affiliate would have any Withdrawal Liability as a result of a complete withdrawal from any Multiemployer Plan on the date this representation is made.

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