Pre-2005 Benefit definition

Pre-2005 Benefit means the portion of a Participant’s Supplemental Retirement Benefit and/or Supplemental Profit Sharing Account, Supplemental Company Account and Supplemental Deferral Account, as applicable, equal to the present value of the Benefit or Account balances, determined as of December 31, 2004, to which the Participant would be entitled under the Plan if he voluntarily separated from service without cause on December 31, 2004 and received a full payment of benefits from the Plan on the earliest possible date allowed under the Plan following separation from service pursuant to Articles III and IV, calculated as of December 31, 2004.

Pre-2005 Benefit means the portion of a Participant’s Supplemental Accounts determined as of December 31, 2004 to which the Participant would be entitled under the Plan if the Participant’s employment terminated without Cause on December 31, 2004, plus gains and losses attributable to such amount.

Pre-2005 Benefit means a Participant’s Normal Retirement Benefit, Early Retirement Benefit, or Deferred Vested Retirement Benefit, as applicable, based on his Years of Plan Participation, Accrual Percentage and all other relevant factors as of December 31, 2004, and determined under the terms of the Plan adopted and in effect as of October 3, 2004, but only to the extent earned and vested as of December 31, 2004 within the meaning of Section 409A of the Code.

Examples of Pre-2005 Benefit in a sentence

• The portion of the Disability Supplemental Benefit determined under the provisions of clause (i) in excess of the Participant’s Grandfathered Pre-2005 Benefit shall be paid in accordance with the provisions of paragraph (b) above and payments shall commence on the first day of the month following the month in which the Participant attains age 65.

• Following a Participant’s retirement or termination of employment with the Company and all Associated Companies other than by reason of death, a Participant shall receive his Grandfathered Pre-2005 Benefit in the same form and at the same time as the Participant receives his corresponding retirement allowance or vested benefit under the Retirement Plan, except as otherwise provided below.

• Any election under the Basic Plan made by the Participant with respect to the commencement of payment of his or her benefit under the Basic Plan shall also be applicable with respect to the commencement of payment of his or her Pre-2005 Benefit under the Plan.

• Payment of the Pre-2005 Benefit to a Participant or his or her beneficiary in accordance with this Section shall commence on the same date as the pension under the NiSource Pension Plan or any other Qualified Pension Plan.

• Payment of the Pre-2005 Benefit under the Plan to a Participant or his or her spouse, Beneficiary, or legal representative under the Plan shall commence on the same date as payment of the benefit to the Participant or his or her spouse, Beneficiary, or legal representative under the Basic Plan commences.

More Definitions of Pre-2005 Benefit

Pre-2005 Benefit means the benefit earned and vested (before January 1, 2005) under this Plan with respect to a Participant’s service and earnings with the Company before January 1, 2005. For purposes of determining the amount of a Participant’s Pre-2005 Benefit, eligibility for an Early Retirement Benefit (and the applicable Early Retirement Benefit reduction factors) under Section 5.2 or Section 6.2 of the Pension Plan and under this Plan shall be based on the Participant’s service before January 1, 2005 and the Participant’s age as of the Participant’s date of Termination of Employment.

Pre-2005 Benefit means the portion of a Participant’s Supplemental Retirement Benefit and/or Supplemental Account, as applicable, equal to the present value of the Supplemental Retirement Benefit and/or Supplemental Account balances, determined as of December 31, 2004, to which the Participant would be entitled under the Plan if his employment terminated without Cause on December 31, 2004 and he received a full payment of benefits from the Plan on the earliest possible date allowed under the Plan following termination of employment.

Pre-2005 Benefit means the portion of the Benefit attributable to amounts credited, adjusted for notional earnings and losses, to a Participant's Pre-2005 Sub-Account.

Pre-2005 Benefit means that portion of a Member’s Accrued Benefit under the Plan, if any, that was “deferred” before January 1, 2005 for purposes of Section 409A, as determined in accordance with Treasury Regulations Section 1.409A-6(a)(3)(i).

Pre-2005 Benefit means for any Participant that portion of the Participant’s benefit under the Plan that was earned and vested on December 31, 2004, within the meaning of Treasury Regulations section 1.409A-6(a)(2). For purposes of determining the present value of the Pre-2005 Benefit in accordance with Treasury Regulations section 1.409A-6(a)(3), the actuarial assumptions in Appendix C Table IX of the Company Plan shall be applied.

Pre-2005 Benefit means, effective January 1, 2005, the present value as of the date of determination of a Participant’s Equalization Benefit had (1) the Participant voluntarily terminated employment without cause on December 31, 2004, (2) received payment of his or her Equalization Benefit on the earliest possible date allowed under the Plan to commence payments after termination of employment, and (3) received benefits in the form under the Plan producing the maximum value; such amount shall be reduced by the value of the SPDAs, if any, purchased pursuant to the terms set forth in Schedule A that settled a portion of the Company’s obligation with respect to such Equalization Benefit. Effective January 1, 2009, “Pre-2005 Benefit” shall mean the annuity amount determined had the Participant voluntarily terminated employment without cause on December 31, 2004 reduced for early retirement by the applicable early retirement reduction factors provided under the Retirement Plan; provided, however, that in no event shall the amount of such reduced Pre-2005 Benefit exceed the amount that would have been computed under Treas. Reg. §1.409A-6(a)(3)(i), as increased to reflect the optional present value adjustment otherwise permitted thereunder; provided, further, such amount shall be reduced by the value of the SPDAs, if any, purchased pursuant to the terms set forth in Schedule A that settled a portion of the Company’s obligation with respect to such Equalization Benefit.

Pre-2005 Benefit means the accrued benefit of any Participant under the Plan that was earned and vested prior to December 31, 2004 and any earnings thereon as determined in accordance with Code Section 409A and the regulations thereunder.