Agmt04 Separation incentive SIP - Laserfiche WebLink

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based on the factors specified in the Plan to adjust the applicable form of benefits. No actuarial adjustment is required for the following: qualified joint and survivor annuity benefits, pre- retirement disability benefits, preretirement death benefits, post-retirement medical benefits, and the value of post-retirement cost-of-living increases made in accordance with the Code and Treas. Reg. Section 1.415-3( c )(2)(iii). "Average 415 Compensation" means the average Section 415 Compensation during a Member's high three years of service, which period is the actual number of consecutive calendar years (or, the actual number of consecutive years of employment for those Employees who are employed for less than three consecutive years with the Employer) during which the Employee had the greatest aggregate Section 415 Compensation from the Employer. "Dermed Contribution Fraction" means for any Limitation Year: (a) the sum of the annual additions to the Member's account under the defined contribution plans maintained by the Employer as of the close of the Limitation Year, divided by: (b) the sum of the lesser of the following amounts determined for the Limitation Year and for each prior year of his service for the Employer: (i) the product of 1.25, multiplied by the dollar limitation determined under Sections 415(b) and (d) of the Code in effect under Section 4l5(c)(1)(A) of the Code for the Limitation Year (determined without regard to Section 415(c)(6) ofthe Code), or (ii) the product of 1.4, multiplied by an amount equal to 25% of the Member's Section 415 Compensation for the Limitation Year. Notwithstanding the foregoing, the numerator of the Defined Contribution Plan Fraction shall be adjusted pursuant to Treas. Reg. Section 1.415- 7( d)(1), Questions T -6 and T - 7 of Internal Revenue Service Notice 83-10, and Questions Q-3 and Q-14 of Internal Revenue Service Notice 87-21. A-2 NBI :508358,9 ,.. .._,