PBCT » Topics » Section 20.14 Limitation Year

These excerpts taken from the PBCT 10-K filed Feb 29, 2008.

Section 20.14 Limitation Year

For purposes of Section 415 of the Code and the regulations thereunder, the Plan Year shall be deemed to be the Plan Limitation Year.

Section 20.14 Limitation Year

STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%">For purposes of Section 415 of the Code and the regulations thereunder, the Plan Year shall be deemed to be the Plan Limitation Year.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%">Section 20.15 Recapture of Erroneous Payments

FACE="Times New Roman" SIZE="2">In the event that, for any reason, it is discovered that amounts have been paid to a Participant, Former Participant, or Beneficiary in excess of the amounts owed to him as a result of erroneous allocations to his
Account, failure to recognize events classified as a partial termination, clerical or computational errors or otherwise, the Plan shall have a right against such payee to recover the amount of such excess; provided, however, that the Committee may
determine that as a result of the administrative problems and costs and expenses of collection involved, such rights shall not be enforced.

SIZE="2">Section 20.16 Benefits Payable Pursuant to Qualified Domestic Relations Orders

Any prohibition in
Section 20.2 of the Plan against the assignment or alienation of benefits shall not apply to the creation, assignment or recognition of a right to any benefit payable with respect to a Participant pursuant to (i) a qualified domestic
relations order entered on or after January 1, 1985, (ii) any domestic relations order entered before January 1, 1985, provided benefits are being paid pursuant to such order as of such date; or (iii) any domestic relations order
entered before January 1, 1985, provided the Plan Administrator determines to treat such order as a qualified domestic relations order. To the extent consistent with such a qualified domestic relations order so affecting any benefit under the
Plan, an alternate payee may withdraw all or any part of such benefit so assigned or granted to him and such benefit shall not be payable to any other person under this Plan, notwithstanding any other provisions of this Plan, except to the extent
provided in such qualified domestic relations order. The terms “qualified domestic relations order” and “domestic relations order” shall have the meaning set forth in Section 414(p) of the Code. To the extent consistent with
a qualified domestic relations order or domestic relations order so affecting any benefit under the Plan effective January 1, 1995, an alternate payee may withdraw all or any part of such benefits assigned or granted to him.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%">Section 20.17 USERRA

SIZE="2">Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Section 414(u) of the Code.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%">Section 20.18 Construction of Language.

FACE="Times New Roman" SIZE="2">Wherever appropriate in the Plan, words used in the singular may be read in the plural, words used in the plural may be read in the singular, and words importing the masculine gender may be read as referring equally
to the feminine and the neuter. Any reference to an Article or Section number shall refer to an Article or Section of the Plan, unless otherwise indicated.

 


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This excerpt taken from the PBCT 10-Q filed May 10, 2007.

Section 20.14 Limitation Year

For purposes of Section 415 of the Code and the regulations thereunder, the Plan Year shall be deemed to be the Plan Limitation Year.

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