| A | B |
|---|
| Pension Estimate | Given to a plan participant to show the dollar amount a payee can expect to receive from their qualified defined benefit pension plan |
| Retirement Kit | Contains the forms and documentation necessary to commence payment of a pension benefit from one of the QPlans |
| Notary Public | Spousal signatures must be witnessed by a Company Representative or through this |
| Deferred Annuity | When an employee whose status is active, leave of absence or layoff exits the Company but does not return the information within 90 days, they will be deemed to have elected this |
| Stop Payment | Applies when a current CHECK is voided as non-negotiable and cannot be cashed |
| Federal Tax Withholding | Each monthly pension payment is set up with this unless the payee has, in writing, requested that no taxes be withheld |
| State Tax Withholding | This is required for those states listed and are set up per the guidelines for each state |
| Direct Deposit | This is used when a pension payee wants payment to be deposited to the bank or financial institution specified |
| 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 |
| 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 |
| 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 |
| In-Service | This type of pension allows an employee to commence receiving an annuity while still employed |
| Non-Qualified Plan | This type of plan does not meet IRS regulations, and is paid by company assets and not from a trust account |
| Defined Contribution Plan | Provides an investment vehicle for employees to accumulate retirement income |
| Eligibility | May vary based on length of service, service credit and employment classification |
| One year | Service requirement for Retail Employee Savings Plan |
| Enrollment kit | Sent to employees once they are eligible |
| Catch-Up Contribution | Available for employees over the age of 50 |
| $16,500 | 402(g) limit for 2009 |
| $1000 | Minimum loan amount |
| Hardship Withdrawal | Participants with immediate and heavy financial need and no reasonable access to money from elsewhere may request this |
| After-Tax | These types of contributions are not allowed in the Retail or Hourly Savings Plan |
| 90 days | Service requirement for Salaried & Hourly Employees |
| Company Match | This type of match for participants in the Hourly Savings Plan does not exist |
| Retirement Contributions | These types of contributions are not allowed in the Hourly Savings Plan |
