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(ii) eliminating an optional form of
benefit,
with respect to benefits attributable to
service before the amendment shall be treated
as reducing accrued benefits. In the case of
a retirement-type subsidy, the preceding
sentence shall apply only with respect to a
participant who satisfies (either before or
after the amendment) the preamendment
conditions for the subsidy. The Secretary
may by regulations provide that this
subparagraph shall not apply to a plan
amendment described in clause (ii) (other
than a plan amendment having an effect
described in clause (i)).
For this purpose, the term “accrued benefit” is defined by
section 411(a)(7) as follows:
(7) Accrued benefit.--
(A) In general.-- For purposes of this section,
the term “accrued benefit” means–-
(i) in the case of a defined benefit
plan, the employee’s accrued benefit
determined under the plan and, except as
provided in subsection (c)(3), expressed in
the form of an annual benefit commencing at
normal retirement age * * *
An accrued benefit generally represents the progressively
increasing interest in a retirement benefit that an employee
earns each year, under a formula that is provided in the plan.
Ashenbaugh v. Crucible, Inc., 1975 Salaried Ret. Plan, 854 F.2d
1516, 1524 (3d Cir. 1988); see Hoover v. Cumberland, MD Area
Teamsters Pension Fund, 756 F.2d 977, 981-982 (3d Cir. 1985).
ERISA does not specify any particular amount of an accrued
benefit. It does, however, generally require that a qualified
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