Definition of Pre-2005 Benefit

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

Examples of Pre-2005 Benefit in a sentence

  1. (ii) The portion of the Disability Supplemental Benefit determined under the provisions of clause (i) in excess of the Participants 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.

Definition of Pre-2005 Benefit in Amended and Restated

Pre-2005 Benefit means, effective January 1, 2005, the present value as of the date of determination of a Participants 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 Companys 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. SS1.409A-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 Companys obligation with respect to such Equalization Benefit.


Definition of Pre-2005 Benefit in Investment Plan

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