Pre-409A Benefits definition

Pre-409A Benefits means the benefit amount accrued and vested by a Participant under the Plan as of December 31, 2004. Such amount equals the present value as of December 31, 2004 of the amount to which the Participant would be entitled under the Plan if the Participant voluntarily terminated services 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 based on the Participant’s age and service as of December 31, 2004, and received benefits in the form with the maximum value (the form with the maximum value will be determined as of the benefit commencement date). A Participant’s Pre-409A Benefits will be determined in accordance with the regulations and other guidance issued under Section 409A of the Code by the Internal Revenue Service. All present value and annuity conversion calculations will be determined based on the actuarial assumptions for the Pre-409A Benefits in Appendix A.
Sample 1
Pre-409A Benefits means the amount deferred by a Participant under the Plan before January 1, 2005, including earnings thereon, to the extent that the Participant’s right to such amount was earned and vested as of December 31, 2004. The amount deferred by a Participant prior to January 1, 2005, equals the present value as of December 31, 2004 of the amount to which the Participant would be entitled under the Plan if the Participant voluntarily terminated 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 termination of service and received benefits in the form with the maximum value. A Participant’s Pre-409A Benefits will be determined in accordance with the regulations and other guidance issued under Section 409A of the Code by the Internal Revenue Service.
Sample 1

Examples of Pre-409A Benefits in a sentence

  • The Amount of Pre-409A Benefits will be calculated on the Payment Start Date and will include Deferral Period Interest for Pre-409A Benefits, as applicable.

  • Benefits payable under the Plan to a Participant or his Beneficiary are determined in accordance with Sections 3.2 and 3.3. Benefits under the Plan with respect to a Participant or Beneficiary (in the event of a Participant’s death) may be comprised of both Pre-409A Benefits and Post-409A Benefits.

  • If winner is 18 years old yet still a minor (as determined by his/her state of residence), winner's guest must be winner's parent/legal guardian.

  • In the overall stipulation, SCWC agreed with ORA that absent an alternative agreement, the prison should pay the otherwise applicable tariff rate.24 In its reply brief, SCWC specifically requested for the first time that the Commission permanently suspend the prison’s discounted tariff.

  • Notwithstanding the foregoing, Participants receiving Required Distributions from the Pension Plan will receive their Pre-409A Benefits at the same time and in the same form as their Retirement Plan benefits.

  • Inpatient services are provided via Paediatric assessment unit, PHDU, Ward 130 and Acorn ward.

  • See Appendix A for Payment of Benefit information for Participants with a Plan Payment Date on or before January 1, 1996 or for Participants who retired under the Allstate Insurance Company’s 1994 Special Retirement Opportunity.4.1. Form and Time of Payment for Pre-409A Benefits and Post-409A Benefits.

  • The Pre-409A Benefit shall remain subject to the applicable provisions of the Questar Plan as in effect immediately prior to the Effective Date as may be amended from time to time, except to the extent that any such modification would result in the Pre-409A Benefits becoming subject to compliance with Code Section 409A.

  • Section 1.409A-6(a)(4)) with respect to the Pre-409A Benefits and any provision of the Plan that is deemed to be a material modification with respect to the Pre-409A Benefits shall have no force and effect unless and until amended to prevent such provision from being considered such a material modification (which amendment may be retroactive, if permitted).

  • In Math, 67% approached, 36% met, and 16% mastered grade level expectations.

Related to Pre-409A Benefits

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Separation Benefits has the meaning accorded such term in Section 3.04.

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

  • 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.

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Change in Control Benefits means the following benefits:

  • Employment benefits means all benefits provided or made

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Termination Benefit means the benefit set forth in Article 7.

  • Retirement Benefit means the benefit set forth in Article 5.

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

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

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

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

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

  • 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.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.