Payment Delay for Specified Employees
Payment Delay for Specified Employees. The six (6) month payment delay of the Normal Retirement Benefit that is payable to a "key employee" (as defined by Section 416(i) of the Code without regard to paragraph (5) thereof, and as further defined in Treasury Regulations Section 1.409A-(1)(i)) on account of the key employee's Separation from Service
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YORK WATER CO contract