Examples of PVP in a sentence
The New SERP Benefit for this Participant will equal: (a) the Participant’s benefits under the PVP for periods after rehire determined without regard to the limitations under Code sections 415 and 401(a)(17), reduced (but not below zero) by (b) any benefit payable to or on account of the Participant under the PVP for periods after rehire.
Additionally, under GAAP, management records future installment premiums on financial guaranty insurance contracts covering non-homogeneous pools of assets based on the contractual term of the transaction, whereas for PVP purposes, management records an estimate of the future installment premiums the Company expects to receive, which may be based upon a shorter period of time than the contractual term of the transaction.
In conjunction with the transfer to the PVP, those participants were also transferred from various non-qualified plans in which they participated into this Plan.
The Offset Benefit will be adjusted to reflect the early retirement according to the provisions of the PVP.
Effective January 1, 1999, certain participants in certain of the qualified plans sponsored by the Company and its Affiliates or Subsidiaries were transferred from those qualified plans to the PVP.