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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/07/20 Otis Worldwide Corp 10-12B 35:9.7M Broadridge Fin’l So… Inc |
Document/Exhibit Description Pages Size 1: 10-12B Registration of Securities (General Form) HTML 70K 2: EX-2.1 Plan of Acquisition, Reorganization, Arrangement, HTML 374K Liquidation or Succession 3: EX-3.1 Articles of Incorporation/Organization or Bylaws HTML 30K 4: EX-3.2 Articles of Incorporation/Organization or Bylaws HTML 159K 5: EX-10.1 Material Contract HTML 159K 14: EX-10.10 Material Contract HTML 49K 15: EX-10.11 Material Contract HTML 47K 16: EX-10.12 Material Contract HTML 46K 17: EX-10.13 Material Contract HTML 49K 18: EX-10.14 Material Contract HTML 128K 19: EX-10.15 Material Contract HTML 83K 20: EX-10.16 Material Contract HTML 83K 21: EX-10.17 Material Contract HTML 94K 22: EX-10.18 Material Contract HTML 110K 23: EX-10.19 Material Contract HTML 222K 6: EX-10.2 Material Contract HTML 253K 24: EX-10.20 Material Contract HTML 171K 25: EX-10.21 Material Contract HTML 101K 26: EX-10.22 Material Contract HTML 124K 27: EX-10.23 Material Contract HTML 50K 28: EX-10.24 Material Contract HTML 23K 29: EX-10.25 Material Contract HTML 24K 30: EX-10.26 Material Contract HTML 24K 31: EX-10.27 Material Contract HTML 22K 32: EX-10.28 Material Contract HTML 27K 33: EX-10.29 Material Contract HTML 16K 7: EX-10.3 Material Contract HTML 216K 8: EX-10.4 Material Contract HTML 103K 9: EX-10.5 Material Contract HTML 122K 10: EX-10.6 Material Contract HTML 100K 11: EX-10.7 Material Contract HTML 39K 12: EX-10.8 Material Contract HTML 44K 13: EX-10.9 Material Contract HTML 39K 34: EX-21.1 Subsidiaries List HTML 12K 35: EX-99.1 Miscellaneous Exhibit HTML 2.89M
Preamble
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1
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Article I
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Definitions
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1
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Article II
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Credited Service
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3
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Article III
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Participation
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3
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Article IV
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Retirement Dates
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4
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Article V
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Retirement Benefits
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4
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Article VI
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Form and Payment of Benefits
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7
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Article VII
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Termination of Employment
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9
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Article VIII
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Funding
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9
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Article IX
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Administration
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10
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Article X
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Discontinuance of Employer Contributions – Plan Amendments
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10
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Article XI
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Plan Discontinuance Procedures
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10
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Article XII
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Miscellaneous
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11
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1. |
Credited Service shall mean the number of full years of Continuous Service with the Employer from the date of inclusion in this Plan (including the UTC TCN prior to Spin-off), and fractions thereof to the nearest month, completed by
the Participant to the earlier of his date of termination of employment and the date he is no longer designated by the Employer as a member of this Plan. Credited Service for purposes of benefits accrued prior to January 1, 2015 shall be
limited to Continuous Service performed prior to January 1, 2015.
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5. |
A Participant shall continue to accrue Credited Service for any absence described in Section 2 (b) above. For purposes of determining the Participant’s Retirement Benefit, the Participant’s earnings history shall be frozen as of the
last date of employment prior to his absence due to disability. Adjustments to Earnings realized after the Participant returns to active employment status shall be included in the determination of Final Average Earnings.
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6. |
Failure to return to the employ of the Employer by the end of any period specified in Section 2 above shall be considered a termination of employment. Any other absence shall be considered a termination of employment. Any Participant
whose employment has been terminated shall be ineligible for readmission to the Plan.
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7. |
Credited Service for purposes of benefits accrued prior to January 1, 2015 shall not accrue on and after January 1, 2015.
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(a) |
is the sum of (i) the product of 1.5% of the Participant’s Final Average Earnings and his years of Credited Service completed before January 1, 1978; ( ii) the product of 2% of the Participant’s Final Average Earnings and his years of
Credited Service completed after December 31, 1977 not in excess of 20 and (iii) the product of 1% of the Participant’s Final Average Earnings and his years of Credited Service completed after December 31, 1977 in excess of 20; and
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2. |
Normal Retirement Benefit for Benefits Accrued On and After January 1, 2015 – Cash Balance Benefit
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(a) |
As of January 1, 2015, an account will be established for each Participant active in the Plan as of that date (“Cash Balance Account”).
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(i) |
In General. For each calendar month during a Plan Year, a credit (“Pay Credit”) will be added to the Participant’s Cash Balance Account in an amount equal to the Monthly Pay Credit Rate times the
Earnings paid to the Participant during the month. The Monthly Pay Credit Rate is determined as follows:
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Participant’s Age in Full Completed
Years on Last Day of Plan Year
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Monthly Pay
Credit Rate
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less than 30
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3%
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30-34
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4%
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35-39
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5%
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40-44
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6%
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45-49
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7%
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50 and older
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8%
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(ii) |
Disability, Leave, or Layoff. For each calendar month during which a Cash Balance Participant has no Earnings but continues to earn Credited Service during disability, leave, or layoff, a Pay
Credit will be added to his or her Cash Balance Account in an amount equal to the Pay Credit Rate times his or her Base Earnings paid in the calendar month immediately preceding the commencement of his or her disability, leave, or layoff
(but only if the Participant was earning Credited Service immediately before he or she became disabled, commenced the specified leave, or was laid off). Notwithstanding the foregoing, a Participant who is laid off shall not receive Pay
Credits after his or her layoff even if he or she continues to earn Credited Service.
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(iii) |
Timing. For purposes of Subsection (a) above, the Pay Credit for a calendar month will be added to the Participant’s Cash Balance Account as of the last day of the calendar month. For purposes of
Subsection (b), above, the Pay Credit for a calendar month will be deemed added to the Participant’s Cash Balance Account as of the last day of the calendar month to which the Pay Credit relates.
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(a) |
The monthly amount of Early Retirement Benefit payable to an active Participant retiring on his Early Retirement Date shall be equal to the Normal Retirement Benefit, calculated in accordance with this Article V, based on Credited
Service to Early Retirement Date or December 31, 2014 if earlier, and the Cash Balance Account as of the date of benefit commencement, reduced by 0.2% for each month that the Early Retirement Date precedes the first of the month
coincident with or next following the Participant’s 62nd birthday.
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(b) |
The monthly amount of Early Retirement Benefit payable to a prior active Participant who terminated employment after attaining age 55 and 10 years of Continuous Service and who later elects retirement on his Early Retirement Date shall
be equal to the Normal Retirement Benefit, calculated in accordance with this Article V, based on the sum of the Credited Service to date of termination or December 31, 2014 if earlier and the Cash Balance Account as of the date of
benefit commencement, reduced by 0.2% for each month that the Early Retirement Date precedes the first of the month coincident with or next following the Participant’s 62nd birthday.
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(a) |
In lieu of the Normal Form of Retirement Benefit described in Section 1 above, a Participant may elect a Contingent Annuitant Option which provides for an actuarially adjusted benefit payable to the Retired Participant during his
lifetime and for the continuance of such Retirement Benefit payments in either the same or a percentage of such reduced amount to a Contingent Annuitant, if living, after the Retired Participant’s death. If the Participant is married, a
spousal waiver is required to elect this payment form.
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(b) |
The monthly payment to the Contingent Annuitant shall commence on the first day of the month following the month in which the Retired Participant dies, if the Contingent Annuitant is then living, and shall continue monthly with the
last payment due for the month in which the Contingent Annuitant’s death occurs.
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(c) |
If a Contingent Annuitant dies before the Participant’s Early or Normal Retirement Date, the Normal Form of Retirement Benefit Payments will automatically become payable as if a Contingent Annuitant Option had not been elected. If a
Contingent Annuitant predeceases the Retired Participant after retirement, the Retirement Benefit payments will cease upon the Retired Participant’s death.
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(d) |
If a Participant who has elected this option should die after his Normal Retirement Date and prior to his Deferred Retirement Date, the Contingent Annuitant, if living, shall become a Survivor Annuitant and shall be entitled to
benefits, payable for such Survivor Annuitant’s further lifetime, in a monthly amount equal to the amount which would have been payable to the Contingent Annuitant had the Participant retired on the date of his death with the 100%
Contingent Annuitant Option operative.
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(a) |
In lieu of the Normal Form of Retirement Benefit in Section 1 above, a Participant may elect a Life Annuity with 60 or alternatively 120 monthly payments guaranteed. This form would provide for an actuarially adjusted Retirement
Benefit payable to the Participant during his lifetime with the guarantee that not less than a total of 60 or alternatively 120 monthly Retirement Benefit payments will be made to the Retired Participant and his named Beneficiary.
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(b) |
If this form is elected and the Retired Participant dies prior to the receipt of the specified number of monthly payments, the balance of the guaranteed number of monthly payments will be paid to the Retired Participant’s named
Beneficiary until a total of 60 or 120 monthly payments (as elected) has been made to the retired Participant and his named Beneficiary. The first such payment to the Beneficiary shall be due and payable as of the first day of the month
following the Retired Participant’s death.
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(c) |
In the event there is no named Beneficiary living at the death of the Retired Participant, the balance of the 60 or 120 guaranteed monthly payments (as elected), which would otherwise have become payable to the Retired Participant’s
Beneficiary, shall be commuted to a single sum and shall be paid to the Executors or Administrators of the Retired Participant’s estate.
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(d) |
If the Beneficiary of a deceased Retired Participant should die prior to receiving the balance of the 60 or 120 guaranteed monthly payments (as elected), the balance of the specified number of guaranteed monthly payments which would
otherwise have become payable to the Retired Participant’s Beneficiary shall be commuted to a single sum and shall be paid to the Beneficiary’s executors or administrators of the Beneficiary.
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(e) |
No monthly benefit will be payable under this form to a Beneficiary if the Participant dies before his Early or Normal Retirement Date. If a Participant, however, who has elected this form should die after his Normal Retirement Date
and prior to his Deferred Retirement Date, his Beneficiary shall become a Beneficiary Annuitant and shall be entitled to benefits payable for 60 or 120 months (as elected) in an amount equal to the amount which would have been payable to
the Participant had the Participant retired on the date of his death with this form effective.
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5. |
Once a choice as to a form of Retirement Benefit or a Retirement Date is made and accepted by the Administrator, it cannot be rescinded by the Participant without the written consent of the Administrator conditioned upon satisfactory
evidence of the good health of the Participant and any person entitled to receive payments upon the death of the Participant. In no event may a Participant change the form of Retirement Benefit once payments have commenced.
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6. |
Anything in this Plan to the contrary notwithstanding, the Participant shall not have the right prior to his retirement irrevocably to elect to have all or a part of his interest in this Plan, which would otherwise become available to
him during his lifetime, paid only to his Beneficiary after his death.
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2. |
A Participant who terminates his employment prior to the termination of this Plan with less than 5 years of Continuous Service with the Employer (including Continuous Service under the UTC TCN Plan) shall forfeit all rights to benefits
under this Plan. A Participant who has completed 5 or more years of Continuous Service and who terminates his employment with the Employer prior to his Normal Retirement Date shall retain a non-forfeitable right to a Retirement Benefit
determined as of his date of termination of employment. The Participant’s non-forfeitable Retirement Benefit shall be payable at either the Participant’s Normal Retirement Date in an amount as determined in accordance with Article V, and
in a form as determined in accordance with Article VI or, with the consent of the Administrator, his Early Retirement Date in an amount which is actuarially reduced by 5/12% for each month that his Early Retirement Date precedes his
Normal Retirement Date for early commencement and in a form as determined in accordance with Article VI.
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3. |
Should a Participant’s termination of employment with the Employer be caused by the Participant’s death or should the Participant die subsequent to his date of termination and prior to his Early or Normal Retirement Date he shall not
retain any non-forfeitable rights hereunder, except as provided in Article V, Section 5.
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1. |
For the purpose of funding for the Retirement Benefits provided herein, the Corporation will enter into and may, at the Corporation’s discretion, make periodic payments under a Group Annuity Contract with the Insurer. Any amounts paid
under said Contract may, at the direction of the Corporation, be held in a separate account maintained in conjunction therewith by the Insurer. The Corporation expressly reserves the right to change funding agencies or vehicles at any
time at its own election and without the consent of any person or organization.
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2. |
No part of the funds held under this Plan shall be used for or diverted to purposes other than for the exclusive benefit of Participants, their spouses or their Beneficiaries covered under this Plan prior to the satisfaction of all
liabilities hereunder with respect to them, provided that any funds under this Plan may be used to pay reasonable Plan administration expenses.
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3. |
No person shall have any interest in or right to any of the funds contributed to or held under this Plan except as expressly provided in this Plan and the Group Annuity Contract and then only to the extent that such funds have been
contributed by the Employer to the Insurer.
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1. |
This Plan shall be administered by the Administrator in accordance with this Plan and the Group Annuity Contract.
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2. |
The Administrator shall determine the benefits payable under this plan, shall have the right to make such rules as may be necessary for the administration of this Plan and may require Participants to apply in writing to the
Administrator for benefits hereunder and to furnish satisfactory evidence of their date of birth and marital status and such other information as may from time to time be deemed necessary.
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1. |
The Employer intends to continue its sponsorship of this Plan indefinitely; but continuance of such sponsorship and such contributions is not assumed as a contractual obligation, or other obligation, of the Employer and the right is
reserved by the Employer to cease its sponsorship of this Plan or to reduce, suspend, or discontinue its contributions hereunder at any time.
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(b) |
deprive any Participant who has retired under this Plan prior to the date of amendment, of any Retirement Benefit under this Plan or change the provisions thereof, provided, however, that any change or modification for the purpose of
conforming this Plan to the requirements of any rule or regulation of any Government may be effective at any time with retroactive effect.
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2. |
In the event this Plan shall be discontinued, no further Employer Contributions shall be made to the Insurer. At the date of discontinuance of the Plan, the Employer funds available for the purchase of Retirement Benefits for
Participants and former Participants retaining a vested interest under this Plan remaining in the hands of the Insurer shall become vested in said Participants covered under this Plan in the manner hereinafter indicated.
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(a) |
Any funds which shall be available for distribution upon discontinuance of this Plan shall be applied to purchase Retirement Benefits, at the date of such discontinuance, for Participants eligible on that date for Normal Retirement
hereunder in amounts to which said Participants shall be entitled under this Plan to the extent that sufficient funds therefor shall be available.
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(b) |
Any funds which shall be available for distribution after the purchase of the Retirement Benefits described in (a) above shall be applied to purchase Retirement Benefits, at the date of such discontinuance, for Participants eligible on
that date for Early Retirement hereunder in amounts to which said Participants shall be entitled under this Plan to the extent that sufficient funds therefor shall be available.
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(c) |
Any funds which shall be available for distribution after the purchase of the Retirement Benefits described in (a) and (b) above shall be applied to purchase Retirement Benefits, at the date of such discontinuance, for Participants and
former Participants not included in (a) and (b) above but who retain a vested interest in this Plan in amounts to which said Participants shall be entitled under this Plan to the extent that sufficient funds therefor shall be available.
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(d) |
Any funds available for distribution after the purchase of the Retirement Benefits described in (a), (b) and (c) above shall be applied to purchase Retirement Benefits, at the date of such discontinuance for all other Participants in
amounts to which said Participants shall be entitled under this Plan to the extent that sufficient funds therefor shall be available.
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3. |
Said available funds shall be used to completely purchase the Retirement Benefits in any one class, as described above, before being used for subsequent classes. In the event the funds available for a class are insufficient to
completely purchase the Retirement Benefits for such class, they shall be applied pro rata within the class to purchase such benefits to the extent that such funds are sufficient.
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1. |
Inclusion in this Plan shall not be construed as giving the Participant any right to be retained in the service of the Employer without the Employer’s consent, nor shall it interfere with the right of the Employer to discharge the
Participant, nor shall it give the Participant any right, claim or interest in any Retirement Benefits herein described, except upon fulfillment of the provisions and requirements of this Plan.
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2. |
Retirement Benefit payments shall be paid to a Retired Participant or the person designated by him to receive payments upon his death, if applicable, in a lump sum where the present value of such monthly benefit does not exceed $5,000.
Such lump sum payment is to be the actuarial equivalent of such monthly Retirement Benefit.
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This ‘10-12B’ Filing | Date | Other Filings | ||
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Filed on: | 2/7/20 | None on these Dates | ||
11/26/18 | ||||
1/1/15 | ||||
12/31/14 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/02/24 Otis Worldwide Corp. 10-K 12/31/23 148:15M 2/03/23 Otis Worldwide Corp. 10-K 12/31/22 150:17M 2/04/22 Otis Worldwide Corp. 10-K 12/31/21 159:18M 3/08/21 Otis Worldwide Corp. 424B2 1:597K Broadridge Fin’l So… Inc 3/03/21 Otis Worldwide Corp. 424B2 1:583K Broadridge Fin’l So… Inc 2/05/21 Otis Worldwide Corp. 10-K 12/31/20 151:16M 8/10/20 Otis Worldwide Corp. 424B3 1:562K Broadridge Fin’l So… Inc 3/13/20 SEC UPLOAD¶ 4/10/20 2:44K Otis Worldwide Corp. 2/21/20 SEC UPLOAD¶ 4/10/20 2:48K Otis Worldwide Corp. |