Qualified Defined Benefit Plan definition
Examples of Qualified Defined Benefit Plan in a sentence
In such case, the annual benefits (as defined in Section 415 of the Code) payable to the Participant under this Plan and such other plan(s) shall be reduced proportionately so that the total annual benefits payable to the Participant under this Plan (if a Qualified Defined Benefit Plan) and such other plan(s) do not exceed the Maximum Permissible Benefit.
Each U.S. Employee who was a participant in the Seller U.S. Qualified Defined Benefit Plan on the Closing shall be granted credit for service with Seller and its Affiliates which was recognized under the terms of the Seller U.S. Qualified Defined Benefit Plan as of the Closing for purposes of participation, eligibility, vesting, retirement eligibility and, subject to the transfer of assets and liabilities contemplated by Section 22.5.2 below, benefit accrual under the Purchaser U.S. Defined Benefit Plan.
BENEFIT PLAN -- If, in addition to this Plan, the Employer maintains, or at any time maintained, a Qualified Defined Benefit Plan covering any Participant in this Plan, the sum of a Participant's Defined Benefit Fraction and Defined Contribution Fraction will not exceed 1.0 in any Limitation Year.
The amount of restoration ---------------------------------- benefits payable to a Participant in Program A of this Plan with reference to each Qualified Defined Benefit Plan under which the Participant may claim benefits will be calculated in the manner described in Subsection (a).
The amount of restoration ---------------------------------- benefits payable to a Participant in Program B of this Plan with reference to each Qualified Defined Benefit Plan under which the Participant may claim benefits will be calculated in the manner described in Subsection (a).
Amend and make conforming changes as follows: “Section 22.1 The NBCUniversal Qualified Defined Benefit Plan shall be applicable to employees covered by this Agreement who were hired on staff prior to January 1, 2011, so long as, on or after January 1, 2011, their continuous service is neither lost nor broken or otherwise no longer maintained, in accordance with the terms of that Plan.
If a Qualified Joint and Survivor Annuity is payable upon the Participant's death under the applicable Qualified Defined Benefit Plan, then any Defined Benefits payable under this Plan as a result of the Participant's death shall also be paid in the form of a Qualified Joint and Survivor Annuity.
If a Participant does not participate in a Qualified Defined Benefit Plan, the Employer Contributions and Forfeitures allocated to such Participant's Account will be not less than 3% of his or her Limitation Compensation for that Plan Year.
In the event of the death of a Participant either (i) prior to commencement of his Defined Benefits or (ii) after commencement of such benefits, but prior to final satisfaction of all such amounts under this Plan, Defined Benefits shall be paid to an eligible survivor only if a death benefit is also payable to such survivor under the terms of the applicable Qualified Defined Benefit Plan (including payment under any optional form of payment elected by the Participant under such plan).
The Defined Benefit Restoration ----------------------------- Benefit and the Section 415 Defined Benefit Restoration Benefit (the "Defined Benefits") shall be paid in the same manner and shall commence on the same date that benefits commence under the applicable Qualified Defined Benefit Plan.