Pension Limitation

Example Definitions of "Pension Limitation"
Pension Limitation. The difference between the single sum equivalent of (i) the Participant's accrued benefit from the RS Plan as calculated by NRECA without limitations provided in Code §§ 401(a)(17) and 415, and (ii) the Participant's accrued benefit from the RS Plan as calculated by NRECA after application of the limitations of Code §§ 401(a)(17) and 415, each of which is calculated at the time a Participant is entitled to a payment hereunder. For purposes of determining a Participant's Pension Limitation, the... definitions and rules in the RS Plan shall apply to this Plan, unless otherwise provided herein. For example, a Participant's final average pay shall be based on "Final Average Pay" as defined in the RS Plan. View More
Found in NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP contract
Pension Limitation. The difference between the single sum equivalent of (i) the Participant's accrued benefit from the RS Plan as calculated by NRECA without limitations provided in Code §§ Sections 401(a)(17) and 415, 415 of the Code, and (ii) the Participant's accrued benefit from the RS Plan as calculated by NRECA after application of the limitations of Code §§ Sections 401(a)(17) and 415, 415 of the Code, each of which is calculated at the time a Participant is entitled to a payment hereunder. For purposes of... determining a Participant's Pension Limitation, the definitions and rules in the RS Plan shall apply to this Plan, unless otherwise provided herein. For example, a Participant's final average pay shall be based on "Final Average Pay" as defined in the RS Plan. Plan View More
Found in OLD DOMINION ELECTRIC COOPERATIVE contract
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