Nonqualified Plan Annuity Starting Date definition

Nonqualified Plan Annuity Starting Date means the first day following the Participant’s Separation from Service that a Participant is first eligible to begin receiving either Early Retirement, Normal Retirement, Disability Retirement, or Delayed Retirement benefits under the terms of the Qualified Plan as it is in effect on December 31, 2008 (whichever Retirement date is earlier and without regard to whether the Participant has elected Early Retirement under the Qualified Plan).
Sample 1

Examples of Nonqualified Plan Annuity Starting Date in a sentence

  • If the Actuarial Equivalent of the vested Accrued Benefit when the Participant dies is in excess of $5,000, the Actuarial Equivalent of the vested Accrued Benefit shall be paid to the Beneficiary in the form of a single life annuity (based on the life of the Beneficiary) as described in Section 4.3 commencing as soon as possible following the Participant’s Nonqualified Plan Annuity Starting Date (determined as if the Participant had survived until that date).

  • If the Actuarial Equivalent of the vested Accrued Benefit on either the date that the Participant Separates from Service or on the Participant’s Nonqualified Plan Annuity Starting Date is not in excess of $5,000, an amount equal to the Actuarial Equivalent of the vested Accrued Benefit shall be paid to the Participant in a single lump sum payment as soon as practicable following such date, and such payment shall entirely meet the Plan’s obligations to the Participant.

  • If the Actuarial Equivalent of the vested Accrued Benefit when the Participant Separates From Service and on the Participant’s Nonqualified Plan Annuity Starting Date is in excess of $5,000, the vested Accrued Benefit shall be paid to the Participant on his or her Nonqualified Plan Annuity Starting Date in the form of an annuity elected by the Participant as provided in Section 4.3.

  • The Participant shall elect the form of annuity payment in writing on or before his or her Nonqualified Plan Annuity Starting Date, or as soon as practicable after the Participant’s Separation From Service, if later.

Related to Nonqualified Plan Annuity Starting Date

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Qualified Plans has the meaning set forth in Section 5.20.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Deferred Plan means a trust governed by a registered retirement savings plan, registered retirement income fund, registered education savings plan or tax-free savings account.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Grandfathered Service means service which is no longer available for new customers and is limited to the current customer at their current locations with certain provisioning limitations, including but not limited to upgrade denials, feature adds/changes and responsible/billing party.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.