Definition of PPL Retirement Plan


PPL Retirement Plan means the defined benefit pension plan sponsored by PPL Services Corporation, most recently amended and restated effective July 1, 1999, bearing IRS Plan Identification Number (PIN) "001".
Sample 1

Examples of PPL Retirement Plan in a sentence

If your employment is terminated, voluntarily or involuntarily, and you are not eligible for or do not elect immediate commencement of monthly retirement benefits under the PPL Retirement Plan (or other defined benefit pension plan if not a PPL Retirement Plan participant), all of your Units will be automatically forfeited.
If your employment is terminated, voluntarily or involuntarily, and you are not eligible for or do not elect immediate commencement of monthly retirement benefits under the PPL Retirement Plan (or other defined benefit pension plan if not a PPL Retirement Plan participant), the term of all your Stock Options ends 60 days after such termination of employment, and any options that are not then exercisable shall terminate and be of no further force and effect.
If you are under age 60, or are over age 60 and do not elect immediate commencement of monthly retirement benefits under the PPL Retirement Plan (or other defined benefit pension plan if not a PPL Retirement Plan participant), your Premiums are forfeited.
The Board may, in its sole discretion, terminate and amend this Plan from time to time provided, however, that the Plan may not be terminated or amended to the prejudice or detriment of any Participant during the three (3) year period immediately following a Change in Control (as defined in the PPL Retirement Plan) (or, if later, thirty six (36) months from the consummation of the transaction giving rise to the Change in Control).
The Lessee has not established and does not maintain or contribute to any employee benefit plan that is covered by Title IV of ERISA, except that the Lessee's employees may participate in the PPL Retirement Plan.