INTERNATIONAL TRANSMISSION COMPANY RETIREMENT PLAN
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This page contains information about the

INTERNATIONAL TRANSMISSION COMPANY RETIREMENT PLAN

This is for the benefit of people going through a divorce or attorneys assisting their clients with a divorce. Please don't reach out to us on live chat or our toll free number unless you're dealing with a divorce. SimpleQDRO isn't a Plan Administrator or affiliated with the plan or company listed on this page. We do draft QDROs for this plan, though. So if that is why you're here, please connect with us.
INTERNATIONAL TRANSMISSION COMPANY RETIREMENT PLAN is a DEFINED BENEFIT PLAN. This type of plan generally provides participants with a monthly retirement benefit upon reaching a specific age and may be adjusted for early retirement. Benefits paid at the time of retirement are typically calculated using a formula based upon years of credited service and compensation information. Benefits are generally payable to the participant upon reaching "normal retirement age" for the remainder of the Participant's lifetime. Benefits accumulated under this type of plan are often referred to as "accrued benefits".

With this type of plan, the Alternate Payee is usually not awarded a lump sum cash payment from the Plan. Rather, the Alternate Payee’s award is typically made in terms of a monthly benefit payable for either the lifetime of the Participant (a "shared payment") or the Alternate Payee (a "separate interest").

Features of the INTERNATIONAL TRANSMISSION COMPANY RETIREMENT PLAN may include:

  • Benefits accrued under this Plan are primarily pay related
  • This Plan is in the nature of a “Cash Balance” or similar plan, meaning that the Plan has a “cash balance” formula for determining benefits. For this purpose, a “cash balance” formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a “single sum distribution amount” (for example, 10 percent of final average pay times years of service, or the amount of the employee’s hypothetical account balance).
  • This Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • This is a Plan covered by the Pension Benefit Guaranty Corporation (PBGC) that was terminated and closed out for PBGC purposes – there may, or may not, be sufficient assets remaining in the Plan to satisfy Plan obligations


DISCLAIMERS

The Plan features and descriptions presented are provided only as examples and general descriptions a particular type of plan. Participants and Alternate Payees should ALWAYS review the applicable Summary Plan Description for a detailed description of the specific terms and options for the specific Plan in question.

The information provided on this page is based upon the most recent Plan tax filings available. The terms of a specific plan may have changed since the most recently available tax filing, and as a result, these descriptions and features may not be current. SimpleQDRO makes no representations as to accuracy of these descriptions.

SimpleQDRO is neither the administrator, nor a representative of this Plan. SimpleQDRO provides this information merely as a courtesy and makes no warranties as to the current status or accuracy of these descriptions.
Plan & Company Information

pdg
Company
INTERNATIONAL TRANSMISSION COMPANY
27175 ENERGY WAY
NOVI, michigan 48377
248-946-3546
pdg
Plan Name
INTERNATIONAL TRANSMISSION COMPANY RETIREMENT PLAN
pdg
Plan Administrator
INTERNATIONAL TRANSMISSION COMPANY
27175 ENERGY WAY
NOVI, michigan 48377
248-946-3546
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INTERNATIONAL TRANSMISSION COMPANY RETIREMENT PLAN is located in NOVI, MI. If you need a QDRO in NOVI, MI just know that SimpleQDRO drafts QDROs for customers in all 50 states.
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