QSERP Offset definition

QSERP Offset means the amount of the supplemental benefit provided under Section 3(a) and Appendix I of the Intel Corporation Defined Benefit Pension Plan as amended from time to time, payable as a Lump Sum Distribution as provided in Section 4(a)(v) of such Plan.
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QSERP Offset means the amount of the supplemental benefit provided under Section 3(a) and Appendix I of the Intel Corporation Defined Benefit Pension Plan, payable as a Lump Sum Distribution as provided in Section 4(a)(v) of such Plan. (v) “Salary Deferrals” means amounts contributed to the Intel Corporation 401(k) Savings Plan on behalf of a Participant pursuant to Section 3(a) of such plan. (w) “Salary Deferral Account” means the account described in Section 7(a)(2) of this Plan which is maintained on the books of the Company and which, with respect to each Participant, reflects the accumulated balance of amounts determined pursuant to Section 3(a)(2) of this Plan, including gains or losses thereon.
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Examples of QSERP Offset in a sentence

  • No right to payment under this Section 9(j) shall apply to any amount in excess of the difference between the value of the QSERP Offset and the total value of all of the Participant’s Accounts measured as of the effective date of the QDRO.

  • A Participant’s Plan Benefit shall consist of the value of such Participant’s Accounts, to the extent vested, minus the value of the QSERP Offset.

  • No withdrawal shall exceed an amount equal to the difference between the total values of all of the Participant’s Accounts minus the value of the QSERP Offset, measured as of the date of the withdrawal.

  • A QSERP Offset valuation will be determined as of the date of an In-Service Distribution.

  • For purposes of this paragraph 8(c)(3)(B) only, the QSERP Offset shall first be applied to the Participant’s Profit Sharing Account and Employee Bonus Account, and last to the Participant’s Earnings Deferral Account.

  • The In-Service Distribution shall not exceed the amount remaining in the Participant’s Earnings Deferral Account after the QSERP Offset has been taken into account pursuant to this calculation.

  • For purposes of this paragraph 8(c)(3) only, the QSERP Offset shall first be applied to the portion of the Participant’s Account that is not eligible for In-Service Distributions, and then to the portion of the Participant’s Account that is eligible for In-Service Distributions.

  • The In-Service Distribution shall not exceed the amount remaining in the latter category after the QSERP Offset has been taken into account pursuant to this calculation.

  • No withdrawal shall exceed an amount equal to the difference between the total value of all of the Participant’s Accounts minus the value of the QSERP Offset, measured as of the date of the withdrawal.

  • Phase II will soon be under construction (not accepted as complete until both phases are finished).

Related to QSERP Offset

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

  • 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.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula:

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

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

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

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

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

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

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

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Disability Benefit means the benefit set forth in Article 8.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Employer Contributions means all amounts paid into ASRS by an

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

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

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • 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.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).