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Plan Overview

SONY CORPORATION OF AMERICA PENSION VALUE PLAN

Defined Benefit Cash balanace Plan
SONY CORPORATION OF AMERICA PENSION VALUE PLAN is a Defined Benefit Cash Balance Plan which is essentially a blend between a traditional Defined Benefit and Defined Contribution plan because it has traits of both. Most cash balance plans are described and recognized as a Defined Benefit Plans because of the structure of individual accounts for each employee which are similar to 401(k) plans.

Under a cash balance plan the employee receives defined pension credits for each year of employment based on a set percentage of the employe's annual salary. For example if the employee's annual salary is $45,000.00, and the contribution rate is 5%, the annual contribution to the employee's cash balance plan would be $2,250.00. Along with this annual contribution the employee's plan will also gain interest value. The interest value is a set percentage and does not change, therefore, the employee has no control over how the funds in the plan are invested.

This type of plan often results in increased company profits and lower employee pensions.

Plan & Company Information:
CompanySONY ELECTRONICS
1 Sony Dr
Park Ridge, NJ 07656-8002
201-930-1000
Plan NameSONY CORPORATION OF AMERICA PENSION VALUE PLAN
Plan Type Plan Type
Defined Benefit Cash Balance Plan
(Expanded Definition and Explanation)
Plan Administrator
16765 W Bernardo Dr - Point
San Diego, CA 92127
858-942-2290
   
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