Examples of Supplemental Plan B in a sentence
The Benefit Plans Committee shall have the right to amend this Supplemental Plan B at any time and from time to time, including a retroactive amendment, by resolution adopted by it at a meeting duly called or by unanimous written consent in accordance with the Employer’s Articles of Incorporation, Bylaws and applicable law.
If an amendment could significantly affect the Participating Employer’s share of the cost of the Supplemental Plan B, then such amendment shall not be effective with respect to the Participating Employer until approved by the Participating Employer.
If the Actuarial Equivalent value of the Participant’s Accrued Benefit under this Supplemental Plan B is equal to $25,000 or less on his or her Separation from Service, then, notwithstanding anything else contained herein to the contrary, including the Participant’s elections, the Participant will receive a lump sum payment of his or her Accrued Benefit within 90 days after his or her Separation from Service.
Nonqualified Supplemental Executive Retirement Plan, as amended and restated effective January 1, 2008, and this Supplemental Plan B exceeds the amount of benefits that would have been provided under the Pension Plan if the exclusion of Incentive Compensation and deferred compensation from the definition for Earnings, to the extent applicable, the limitation set forth in Code section 401(a)(17) and the limitation imposed by Code section 415 did not apply.
The Supplemental Plan B shall be operated and administered by the Plan Administrator or its duly authorized representative.
One barrier is the potential change in how a lock-up is used when local conditions change or new law enforcement administrators are put in place.
No death benefit other than that set forth in this Section 4.7 shall be payable under this Supplemental Plan B if a Participant dies prior to the commencement of benefit payments under this Supplemental Plan B.
The Plan Administrator shall keep separate books and records concerning the contributions and benefits payable under the Supplemental Plan B with respect to the Participating Employer and the employees of the Participating Employer.
All Employees and Participants shall be subject to discharge to the same extent they would have been if this Supplemental Plan B had never been adopted.
The intent is that payments and benefits under this Supplemental Plan B comply with Code section 409A and, accordingly, to the maximum extent permitted, this Supplemental Plan B shall be interpreted to be in compliance therewith.