protected benefits definition

protected benefits means: (a) Accrued benefit of any Participant, directly or indirectly. Plan provisions indirectly affecting accrued benefits include, for example, provisions relating to Years of Service and Breaks-in-Service for determining benefit accrual, and to actuarial factors for determining optional or early retirement benefits.
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protected benefits means, with respect to a Retiree who became a participant in the Plan before the Change in Control, the benefits that accrue under the Plan with respect to compensation paid and service credited up to the last day of the Change in Control Plan Year.
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protected benefits has the meaning set forth in Section 8.7(a).
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More Definitions of protected benefits

protected benefits means the benefits under the Scheme but only to the extent to which the reduction thereof would be contrary to regulations made under paragraph 4(2) of Schedule 5 to the Act.
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protected benefits means those takaful and insurance benefits that are separately protected by the takaful and insurance benefits protection system under Part V;
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protected benefits with respect to that restored Accrued Benefit, in accordance with applicable Treasury regulations. The Committee shall not restore a re-employed Participant's Accrued Benefit under this paragraph if: (1) the distribution was on account of the Employee's separation from service, and such repayment is not made before the end of whichever of the following ends earlier: (a) Five (5) years after the first day the Participant is subsequently employed, or (b) The close of the first period of Five Consecutive 1 Year "Breaks in Service" commencing after the distribution. (2) the distribution occurs for a reason other than on account of the Employee's separation from service, and such repayment is not made before 5 years after the date of the distribution, or (3) The distribution was not less than the amount of his accrued benefit determined under the same "protected form of benefit" as the distribution was made.
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Related to protected benefits

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • 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 Employer 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 cash bonus or cash incentive compensation plan applicable to the Executive, but subject to any irrevocable deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any cash bonus or cash 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(e) 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 on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’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; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs to the extent necessary for compliance with the requirements of Code Section 409A(a)(2)(B) relating to specified employees or, to the extent not so required, within ninety (90) days of the Executive’s Separation from Service.

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

  • Excepted benefits means benefits under one or more (or any combination thereof) of the following:

  • Termination Benefits will mean and include the following: