AFTAP definition

AFTAP shall have the meaning provided in Section 8.10(c).

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AFTAP means the Plan’s adjusted funding target attainment percentage determined under Code Section 436(j)(2).

AFTAP means the adjusted funding target attainment percentage as defined in Code Section 436(j)(2) and Treasury Regulation 1.436-1(j).

Examples of AFTAP in a sentence

• If the Closing Date occurs prior to September 1, 2010, Purchaser shall be responsible for any and all cash contributions necessary to bring the AFTAP for the National Starch LLC Pension Plan for the 2009 plan year to at least 80%, as reported on the AFTAP Certification.

• For example, assuming that all lump sum and single sum payment required by Section III.8 are made during 2015, and the amendment required by Section V.10 is timely made during 2015, then if the Plan’s Enrolled Actuary certifies the AFTAP for 2015, both before and after the amendment to be at least 80%, the requirements of this section will be satisfied.

• If the Plan’s AFTAP for a Plan Year is less than 60 percent, no Prohibited Payment will be made with an Annuity Starting Date within such Plan Year and on or after the applicable Section 436 Measurement Date.

• Meriter shall contribute to the Plan such funds as determined by the Plan’s Enrolled Actuary to maintain the Plan at an Adjusted Funded Target Attainment Percentage (AFTAP) (as defined in IRC § 436) of at least 80%, such that neither any lump sum distributions or the required amendment under Section V.10 is restricted in any manner due to the impact of an AFTAP being below 80%.

• If the Plan’s AFTAP is less than 60 percent for a Plan Year, all benefit accruals under the Plan shall cease as of the applicable Section 436 Measurement Date for the Plan Year.

More Definitions of AFTAP

AFTAP means the ‘adjusted funding target attainment percentage’ of the Plan for the Plan Year determined in accordance with Code section 436(j)(2) and the regulations or other guidance issued by the Secretary of the Treasury.

AFTAP means the “adjusted funding target attainment percentage” as described in Code Section 436(j) and Section 1.436-1(j)(1) of the Treasury Regulations. Notwithstanding the foregoing, for Plan Years beginning on or after October 1, 2008 and before October 1, 2010:

AFTAP means, subject to paragraph (g), the “Adjusted Funding Target Attainment Percentage,” as described in Code Section 436(j)(2).

AFTAP for a Plan Year shall mean the fraction (expressed as a percentage), the numerator of which is the adjusted plan assets for the Plan Year and the denominator of which is the adjusted funding target for the Plan Year, calculated in accordance with Treas. Reg. §1.436-1(j)(1).

AFTAP means the “Adjusted Funding Target Attainment Percentage,” as described in Code § 436(j)(2).

AFTAP means the “adjusted funding target attainment percentage” as defined in section 436(j) of the Code and Treas. Reg. section 1.436-1(j)(1); provided, however, that the “AFTAP” for Plan Years beginning on or after October 1, 2008 and before October 1, 2010, shall be adjusted pursuant to section 436(j)(3) of the Code for purposes of applying (i) the restrictions under Section 9.6(c) to a Social Security level income option, and (ii) the limit on benefit accruals under Section 9.6(d). For any period during which the presumption under section 436(h) of the Code applies to the Plan, the limitations described in this Section 9.6 are applied as if the Plan’s AFTAP were the presumed AFTAP determined under section 436(h) of the Code and Treas. Reg. section 1.436-1(h). If the presumption in the preceding sentence applies for any period, the AFTAP shall be recertified in accordance with the rules set forth in Section 1.436-1(f)(2)(ii)(C) of the Regulations for purposes of determining whether the restrictions set forth in this Section 9.6 continue to apply. Notwithstanding the foregoing, the Plan’s AFTAP for purposes of Section 9.6(d) for the 2009 Plan Year shall be equal to the larger of the AFTAP for the 2009 Plan Year or the AFTAP for the 2008 Plan Year.

AFTAP means, subject to paragraph (h), the “Adjusted Funding Target Attainment Percentage,” as described in Code Section 436(j)(2) and Treasury Regulation Section 1.436-1(j).