TGT » Topics » Personal Pension Account.

This excerpt taken from the TGT 10-K filed Mar 18, 2010.
Personal Pension Account.  A Participant’s SPP Benefit includes the excess, if any, of the amount determined under (a) over the amount determined under (b):

 

(a)                                  The amount that would have been credited each quarter (including both “pay credits” and “interest credits”) to the Participant’s “personal pension account” under the Target Pension Plan, if such account were applied:

 

(i)                                     without regard to the maximum benefit limitations required by Code section 415;

 

(ii)                                  without regard to the maximum compensation limitation under Code section 401(a)(17);

 

(iii)                               as if the definition of “certified earnings” under the Target Pension Plan for a calendar quarter included compensation that would have been paid during such calendar quarter in the absence of the Participant’s election to defer payment of the compensation to a later date pursuant to the provisions of a deferred compensation plan;

 

(iv)                              as if a distribution had been made from such account equal to any SPP Benefit Transfer Credits made under Section 3.3.

 

(b)                                 The amount of the credits actually made to the Participant’s “personal pension account” under the Target Pension Plan.

 

This excerpt taken from the TGT 10-K filed Mar 12, 2010.
Personal Pension Account.  A Participant’s SPP Benefit includes the excess, if any, of the amount determined under (a) over the amount determined under (b):

 

(a)                                  The amount that would have been credited each quarter (including both “pay credits” and “interest credits”) to the Participant’s “personal pension account” under the Target Pension Plan, if such account were applied:

 

(i)                                     without regard to the maximum benefit limitations required by Code section 415;

 

(ii)                                  without regard to the maximum compensation limitation under Code section 401(a)(17);

 

(iii)                               as if the definition of “certified earnings” under the Target Pension Plan for a calendar quarter included compensation that would have been paid during such calendar quarter in the absence of the Participant’s election to defer payment of the compensation to a later date pursuant to the provisions of a deferred compensation plan;

 

(iv)                              as if a distribution had been made from such account equal to any SPP Benefit Transfer Credits made under Section 3.3.

 

(b)                                 The amount of the credits actually made to the Participant’s “personal pension account” under the Target Pension Plan.

 

EXCERPTS ON THIS PAGE:

10-K
Mar 18, 2010
10-K
Mar 12, 2010
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