Underfunded Plan definition

Underfunded Plan means any Plan that has an Underfunding.
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Underfunded Plan has the meaning set forth in Section 5.13(b).
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Underfunded Plan means a Plan (other than a Multiemployer Plan) for which the aggregate benefit liabilities determined as of the end of such Plan’s most recently ended plan year on the basis of actuarial assumptions specified for funding purposes for such Plan in such Plan’s most recent actuarial statement exceeded the aggregate current value of the assets of such Plan, the term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value” have the meaning specified in section 3 of ERISA.
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More Definitions of Underfunded Plan

Underfunded Plan means a Plan that has an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA).
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Underfunded Plan is defined in SECTION 4.15(a).
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Underfunded Plan is defined in Section 4.15(a). "Unmatured Event of Default" means an event, act or occurrence which, with the giving of notice or the lapse of time (or both), would become an Event of Default.
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Underfunded Plan means any Plan the fair market value of the assets of which does not exceed the present value of the accrued benefits thereunder.
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Related to Underfunded Plan

  • Underfunding the excess of the present value of all accrued benefits under a Plan (based on those assumptions used to fund such Plan), determined as of the most recent annual valuation date, over the value of the assets of such Plan allocable to such accrued benefits.

  • benefit liabilities has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value” have the meaning specified in section 3 of ERISA.

  • Unfunded Benefit Liabilities means with respect to any Plan at any time, the amount (if any) by which (i) the present value of all benefit liabilities under such Plan as defined in Section 4001(a)(16) of ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan (on the basis of assumptions prescribed by the PBGC for the purpose of Section 4044 of ERISA).

  • BENEFIT LIMIT means the total benefit allowed under this plan for a covered healthcare service. The benefit limit may apply to the amount we pay, the duration, or the number of visits for a covered healthcare service.

  • Unfunded Pension Liabilities means the excess of a Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Plan’s assets, determined in accordance with the assumptions used by the Plan’s actuaries for funding the Plan pursuant to Section 412 of the Code for the applicable plan year.