TCN Plan definition
Examples of TCN Plan in a sentence
The Employer shall notify the Business Manager in writing of the name of the individual who is to be requested for employment as a ▇▇▇▇▇▇▇.
Whether the Employee elects to take the Pension pursuant to the Monthly Annuity Option or the Lump Sum Option, the Pension will not be reduced by an offset for Argentine Social Security, as is contemplated by the TCN Plan.
If for any reason the Pension as calculated under the TCN Plan does not provide the minimum Pension required by the Pension Schedule, IFF will pay you a monthly supplemental amount so that your aggregate retirement benefit from all Applicable Sources equals the Pension required by the Pension Schedule for the applicable retirement date.
The Company’s contribution to the TCN Plan will be at the rate of 8% of base salary and incentive compensation.
The amount of the Pension will be calculated in accordance with the terms of the TCN Plan.
During the Assignment you will continue to participate in the IFF TCN Pension Plan, (the "TCN Plan").
Your participation in the TCN Plan is subject to applicable plan rules.
The amount of the Pension will first be calculated by aggregating the retirement benefits that you have or will have earned at your actual retirement date from all sources in which you currently participate or have participated during your IFF service, including but not limited to the TCN Plan, pension plans of other IFF entities, and the Argentina social security/retirement system (collectively the "Applicable Sources").
During this period your base salary will be $550,000, and you will continue to participate in the TCN Plan.
The Employee shall be vested in the pension benefit (the "Pension") that he accrues through the Separation Date under the Company's Third Country National Pension Plan (the "TCN Plan").