"Actuarial Equivalent" means a benefit of equal Actuarial Present Value.
"Association" means the National Fire Sprinkler Association, Inc. of Patterson, New York, a membership corporation organized under the laws of the State of Delaware.
Beneficiary” means a person who is:
For purposes of Code Section 401(a)(9), a “Designated Beneficiary” is an individual who is designated as a Beneficiary in accordance with this Plan and otherwise satisfies the requirements of Code Section 401(a)(9) and § 1.401(a)(9)-4 of the Treasury Regulations.
"Calendar year" means the period from January 1 through the next December 31. For purposes of ERISA regulations, the calendar year is the vesting computation period, the benefit accrual computation period, and, after the initial period of employment, the computation period for eligibility to participate in the Plan. The Calendar Year is the Plan Year for the Plan.
"Collective Bargaining Agreement" or "Agreement" means the Collective Bargaining Agreements between the National Fire Sprinkler Association, Inc. and the Union together with any modifications, supplements, amendments or successor agreements thereto and it will also mean any collective bargaining agreement between an Employer engaged in the Sprinkler Industry and a Participating Sprinkler Local Union which provides for contributions to this Pension Plan.
"Contributing Employer" or "Employer" means any employing unit which is a contractor member of the Fire Sprinkler Association or any other employing unit subject to the Agreement and required thereby to make periodic payments to the Fund provided:
Employer also includes Participating Sprinkler Local Unions and other employers participating in the Fund pursuant to an agreement with the Trustees. Except as may otherwise be required by law, an employer will not be deemed a Contributing Employer simply because it is part of a controlled group of corporations or of a trade or business under common control, some other part of which is a Contributing Employer.
"Contribution Period" means the period during which the employer is a Contributing Employer, with respect to a unit or classification of employees.
"Covered Employment" means employment of an Employee by an Employer in a category covered by a Collective Bargaining Agreement for which the Employer is obligated by its Agreement to contribute to the Fund. “Covered Employment” also means employment of an Employee by an Employer in a category of work for which the Employer is obligated to make contributions to the Fund pursuant to an agreement with the Trustees or as required by applicable law.
"Covered Employment" does not, however, include employment by an employer after termination of the employer's status as a Contributing Employer, for failure to pay contributions due, pursuant to the provisions of Section 12.04.
"Employee" means a person who is an Employee of an Employer and on whose behalf payments are required to be made to the Fund pursuant to a Collective Bargaining Agreement as defined in Section 1.06, pursuant to an agreement with the Trustees or as required by applicable law or as the term “Employee” is additionally defined in the Trust Agreement.. The term "Employee" does not include any self-employed person or any person who has a direct or indirect interest in a sole proprietorship or partnership which is a Contributing Employer. The term "Employee" may include a person who is an officer or owner or the relative of an officer or owner of an incorporated employer or a relative of an owner of an unincorporated employer, or who is otherwise involved in the management of an Employer pursuant to rules adopted by the Trustees in accordance with the Trust Agreement.
"ERISA" means the Employee Retirement Income Security Act of 1974, as amended. “Code” means the Internal Revenue Code of 1986 as amended.
An "Hour of Service" is each hour for which an Employee is paid, or entitled to payment, by the Employer(s), directly or indirectly, including payments for disability from the National Automatic Sprinkler Industry Welfare Fund as well as each hour for which back pay, regardless of mitigation of damages, is awarded or agreed to by an Employer, to the extent that such award or agreement is intended to compensate an Employee for periods during which the Employee would have been entitled to compensation. However, Hours of Service do not include any time compensated under a workmen's compensation or unemployment compensation law or a plan pursuant to a mandatory disability benefits law and excluding any hours for non-work time in excess of 501 in any one continuous period. Two periods of paid non-work time will be deemed continuous if they are compensated for the same reason (e.g. disability) and are not separated by at least ninety days. Hours of Service are computed and credited in accordance with Department of Labor Regulations 2530.200b.
"Normal Retirement Age" means age 65 or, if later, the age of the Participant on the fifth anniversary of his participation. Participation before a Permanent Break in Service is not counted.
"Participant" means a Pensioner or an Employee who meets the requirements for participation in the Plan set forth in Article 2, or a former Employee who has acquired a right to a pension under this Plan.
"Participating Sprinkler Local Union" or "Union" means Local 669 and any other Sprinklerfitter Local Union affiliated with the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada that participate in the Fund in a manner acceptable to the Trustees.
"Participation Date" means the date a Participating Local Union begins participating in the Plan.
"Pension Fund" or "Fund" means the National Automatic Sprinkler Industry Pension Fund established under the Trust Agreement.
"Pension Plan" or "Plan" means this document as adopted by the Trustees and as thereafter amended by the Trustees.
"Pensioner" means a person to whom a pension under this Plan is being paid or to whom a pension would be paid but for time for administrative processing or suspension of benefits.
"Trust Agreement" means the Trust Agreement establishing the National Automatic Sprinkler Industry Pension Fund, made and entered into on January 17, 1957, and as thereafter amended and restated.
"Trustees" means the individuals serving as members of the Board of Trustees as established and constituted from time to time in accordance with the Trust Agreement.
|(a)||Break in Continuity||7.06(c)|
|(b)||Break in Service (One-Year Break in Service,
Permanent Break in Service)
|(c)||Collectively Bargained Employee||8.01(a)|
|(g)||Date of Disability||3.07(b)|
|(h)||Disability Pension||3.07 and 3.08|
|(i)||Disabled for his Occupation||3.07(a)(4)(E)|
|(k)||Disqualifying Employment||7.08(a) and (b)|
|(m)||Distribution Calendar Year||7.05(h)(1)(B)|
|(n)||Early Retirement Pension||3.03 and 3.04|
|(o)||Effective Date of Pension||7.05(b)(2)|
|(q)||Eligible Retirement Plan||7.05(i)(2)(B)|
|(r)||Eligible Rollover Distribution||7.05(i)(2)(A)|
|(t)||Highly Compensated Employee||8.01(d)|
|(y)||Non-Collectively Bargained Employee||8.01(e)|
|(bb)||Partial Pensions||10.01 and 10.02|
|(cc)||Participation Date (of Sprinkler Local Unions)||4.07|
|(ff)||Permissive Aggregation Group||9.02(e)|
|(gg)||Pre-Retirement Surviving Spouse Pension||5.03|
|(hh)||Qualified Spouse||5.02(b), 5.03(b)|
|(ii)||Regular Pension||3.01 and 3.02|
|(kk)||Required Aggregation Group||9.02(d)|
|(ll)||Required Beginning Date||7.17(c)|
|(mm)||Retired or Retirement||7.07|
|(nn)||Retroactive Effective Date||7.05(b)(3)|
|(qq)||Super Top Heavy||9.03(d)(2)|
|(ss)||Top Heavy Compensation||9.02(f)|
|(tt)||Top Heavy Group||9.02(h)|
|(uu)||Top Heavy Plan||9.02(g)|
|(vv)||Totally and Permanently Disabled||3.07(b)|
|(ww)||Vested Pension||3.05 and 3.06|
|(yy)||Year of Vesting Service||4.02|
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