Frozen Benefit definition

Frozen Benefit means, in the case of a Grandfathered Participant, his or her accrued benefit under this Plan determined as of December 31, 2011.

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Frozen Benefit means the monthly benefit that would have been paid to a Transferred Participant under the Boise Cascade Corporation Supplemental Pension Plan (As Amended Through September 26, 2003) as if such participant had

Frozen Benefit means a benefit equal to (A) 2 percent of the Participant’s Final Average Pay determined as of December 31, 1995 multiplied by the Participant’s Benefit Service as of that date, less (B) the benefit, if any, payable to the Participant under the Financial Institutions Retirement Fund with respect to the same period of service;

Examples of Frozen Benefit in a sentence

Except as modified by this Agreement, each of the SBP Frozen Benefit and DSA Frozen Benefit shall continue as an unfunded benefit payable from the general assets of the Company or the sponsoring subsidiary, when and subject to all the other conditions and terms of the respective SBP and DSA.
Neither the SBP Frozen Benefit nor the DSA Frozen Benefit shall be entitled to any increase due to additional benefit accruals, interest or other earnings after January 31, 2008.
Frozen Benefit – The earned benefit payable to the Executive under the terms of The Aristotle Corporation Pension Plan, as frozen on December 31, 2005.
A Participant's Frozen Benefit Plus+ Account, if any, shall consist of the Initial Frozen Benefit Plus+ Allocation, Employer Credits, Special Employer Credits, if any, and Interest Credits.
Effective as of March 1, 2007, each Participant’s Frozen Benefit Plus+ Account shall be credited at the end of each calendar month with an Employer Credit equal to 7.5% of the Participant’s Earnings from the first day of the first payroll period, any portion of which falls within such month, through the last payroll end date of such month.
Officer’s DSA Frozen Benefit shall be calculated as provided in the DSA using Officer’s years of service and base salary as of January 31, 2008.
For this purpose, a participant's Frozen Benefit as of December 31, 1993 (as defined in the Pension Plan) shall not be considered to be affected by the New Compensation Limit.
The Frozen Benefit Obligation of a Plant Employee shall be the monthly pension payment which such Plant Employee would be entitled to receive from the applicable BFG Pension Plan if such Plant Employee commenced receipt of pension payments at age 65.
Officer’s DSA Frozen Benefit shall be calculated as provided in the DSA using Officer’s years of service and base salary as of January 31, 2008, without any reduction under DSA Section 2(b).
If a Plant Employee retires from Westlake prior to reaching age 65, the Frozen Benefit Obligation of such Plant Employee shall be actuarially adjusted from the amount payable commencing at age 65 to equal the monthly pension amount that such Plant Employee would have received from the applicable BFG Pension Plan had pension payments commenced on the date on which such Plant Employee retires from Westlake.

More Definitions of Frozen Benefit

Frozen Benefit means (i) the monthly benefit that would have been paid to a Transferred Participant under the BCC SUPP as if such participant had been eligible to retire with a fully vested benefit and had retired under the terms of the Boise Cascade Corporation Pension Plan for Salaried Employees as of October 28, 2004, plus (ii) the monthly benefit that would have been paid to that Transferred Participant under the BCLLC SUPP as if such participant had been eligible to retire with a fully vested benefit and had retired under the terms of the Boise Cascade, L.L.C. Pension Plan for Salaried Employees as of February 21, 2008. In the event that either the BCC SUPP or the BCLLC SUPP is terminated prior to the payment of any benefits under this Plan and/or a Participant receives a payout of his or her benefits under such plan(s), such payout (or the actuarial equivalent thereof) shall be the Frozen Benefit.

Frozen Benefit. The amount of an Employee’s pension attributable to years of service accrued before January 1, 2014, (“Frozen Benefit”), will be calculated on the basis of the following multiplier and Final Average Compensation (“FAC”) as defined under the Plan, which includes overtime and mandatory hours, as if as if the Employee had retired effective January 1, 2014:

Frozen Benefit means the Accrued Portion of the supplemental normal retirement benefit of a Participant who had attained age 55 and was credited with at least ten years of Service as of December 31, 2004, determined under the provisions of the Frozen Terms on such date.