| A | B |
|---|
| Defined Benefit | Retirement benefit amount paid at Normal Retirement Age |
| Qualified Pension Plan | A plan that is in accordance with the IRS and governed by federal legislation, ERISA. |
| Employer | Primarily funded by these types of contributions |
| Pension Calculation | Dollar amount payable by the Company that an employee or former employee earned or accrued under a pension plan |
| Retirement | The Company’s pension plans are designed to provide a source of economic security during this time |
| Wingfoot Trust Corporation | Administers Qualified Plans |
| Accrued Benefit | Type of benefit earned as of the end of each plan year or at the time of termination of employment and payable at Normal Retirement Age of 65 |
| ERISA | Regulates the operation of a pension plan once it has been established |
| Vesting | This gives an immediate secured right of present or future entitlement to the pension benefit |
| Split-Service | The payment of pension benefits to a plan participant from more than one pension plan |
| Lump Sum | This form of payment payments allows plan participants to take their benefit in one distribution as opposed to monthly payments |
| Single Life Annuity | Pays a benefit over a single lifetime, in this case just the participant’s |
| QJSA | Married employees automatically receive this option unless rejected with written spousal consent |
| Period Certain | Pays a reduced benefit for life with monthly payments guaranteed for 10, 15 or 20 years from date of retirement |
| Salaried | All of these Employees participate in the Pension Plan |
| Retail | Pension Plan dates back to 1988 for this group |
| Master Bargaining Agreement | Not all participants in the 1950 Pension Plan are covered by this |
| In-Service | This type of pension allows an employee to commence receiving an annuity while still employed |
| 1950 Hourly Employee | This Plan is active, and did not freeze on December 31, 2008 |
| Non-Qualified Plan | This type of plan does not meet IRS regulations, and is paid by company assets and not from a trust account |
