Grandfathered Group Participants

Example Definitions of "Grandfathered Group Participants"
Grandfathered Group Participants. Those employees of an Eligible Cooperative who satisfy the eligibility criteria below as of and no later than December 31, 2014, that are: (a)A Participant in their Cooperative's current Deferred Compensation PRP, (b) Eligible to participate in the Amended and Restated Deferred Compensation PRP prior to December 31, 2014, because they: (1)Have or previously had compensation as defined by the Cooperative's RS Plan in excess of the applicable Code §401(a)(17) limit for benefits earned prior to... January 1, 2015, based on 2014 or earlier salary as determined no later than December 31, 2015; and/or (2)Have a pension limitation under Code § 415 occurring prior to January 1, 2015, and they have attained their Normal Retirement Date and elected to commence benefits under the RS Plan; and, (c)Are designated in writing by the Cooperative's Board no later than December 31, 2015 as eligible to participate in the Amended and Restated Deferred Compensation PRP as part of a "select group of management or highly compensated employees" as such term is used in ERISA. View More
Found in NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP contract
Grandfathered Group Participants. Those employees of an Eligible Cooperative who satisfy the eligibility criteria below as of and no later than December 31, 2014, that who are: (a)A (a) A Participant in their Cooperative's current Deferred Compensation PRP, PRP; 2 (b) Eligible to participate in the Amended and Restated Deferred Compensation PRP prior to December 31, 2014, because they: (1)Have (1) Have or previously had compensation as defined by the Cooperative's RS Plan in excess of the applicable Code §401(a)(17) Section... 401(a) (17) limit for benefits earned prior to January 1, 2015, based on 2014 or earlier salary as determined no later than December 31, 2015; and/or (2)Have (2) Have a pension limitation under Code § Section 415 occurring prior to January 1, 2015, and they have attained their Normal Retirement Date and elected to commence benefits under the RS Plan; and, (c)Are (c) Are designated in writing by the Cooperative's Board no later than December 31, 2015 as eligible to participate in the Amended and Restated Deferred Compensation PRP as part of a "select group of management or highly compensated employees" as such term is used defined in ERISA. ERISA, and as provided in Schedule A attached to and made a part of this Plan View More
Found in OLD DOMINION ELECTRIC COOPERATIVE contract
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