Definition of Pre-409A Benefits


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.
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Examples of Pre-409A Benefits in a sentence

Deferral Period Interest for Pre-409A Benefits for the deferred portion of Pre-409A Benefits means the blended first segment lump sum interest rate used to calculate the lump sum payment under the Retirement Plan and will apply to the deferred portion of the Pre-409A Benefit from the period beginning on the Payment Start Date and ending on the Plan Payment Date for Pre-409A Benefits, or, if earlier, the date Pre-409A Benefits are paid.
Pre-409A Benefit means the benefit that was fully earned and vested as of December 31, 2004, under the terms of the Plan as in effect on October 3, 2004, including any Deferral Period Interest for Pre-409A Benefits and, therefore, is not subject to Code Section 409A.
Plan Payment Date for Pre-409A Benefits means the January 1 coincident with or next following the Payment Start Date on which the Retirement Plan becomes obligated to pay a Participants benefits.
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 Participants death) may be comprised of both Pre-409A Benefits and Post-409A Benefits.
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.