Late Retirement Date Sample Clauses

Late Retirement Date. The term “
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Late Retirement Date. The Late Retirement Date of a Member shall be the first day of the month coincident with or next following actual retirement after his Normal Retirement Date.
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Late Retirement Date. If Executive is permitted to continue in employment subsequent to his Normal Retirement Date, then upon his termination of employment after his Normal Retirement Date, he shall receive a Retirement Benefit, as described in Section 2.1, which shall be an annual benefit, payable monthly, commencing on his Late Retirement Date and continuing for his life. The Retirement Benefit payable to Executive at his Late Retirement Date shall be the Actuarial Equivalent of what Executive's Retirement Benefit would have been had his employment terminated on his Normal Retirement Date and had he commenced receiving his Retirement Benefit on his Normal Retirement Date.
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Late Retirement Date. 10 "Limitation Year" .......................................................... 10 "Normal Retirement Date" ................................................... 10 "Participant" .............................................................. 10 "Participating Company" .................................................... 11 "Plan" ..................................................................... 11 "Plan Year" ................................................................ 11 "Predecessor Company" ...................................................... 11 "Required Beginning Date" .................................................. 11 "Separation from Service" .................................................. 12 "Social Security Retirement Age" ........................................... 12 "Spouse" ................................................................... 13 "Surviving Spouse" ......................................................... 13 "Total Disability" ......................................................... 13 "Trust Agreement" .......................................................... 14 "Trustee" .................................................................. 14 "Union" .................................................................... 14 "Year of Credited Service" ................................................. 14 "Year of Vesting Service" .................................................. 14
Sample 1
Late Retirement Date. If a Participant continues in employment after his Normal Retirement Age, he may continue to make Pre-Tax Contributions and/or After-Tax Contributions (if applicable) until his later retirement date, and he will continue to share in Employer Contributions and forfeitures in accordance with the Plan’s allocation formula until his late retirement date.
Sample 1
Late Retirement Date. If a participant continues in employment after his normal retirement date, he may continue to make 401(k) savings contributions and/or after-tax employee contributions (if applicable in the employer's plan) until his later retirement date, and he will continue to share in employer contributions and forfeitures in accordance with the plan's allocation formula until his late retirement date.
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Late Retirement Date. Executive's Late Retirement Date will be the first day of the month following Executive's retirement after the January 1 following his 62nd birthday.
Sample 1
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Late Retirement Date. Executive's "late retirement date" shall be the first day of the calendar month coincident with or next following the date of his retirement from the employ of the Company after his normal retirement date.
Sample 1

Related to Late Retirement Date

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Pre-Retirement Death Benefits Should the Executive die while --------- ----------------------------- in the service of the Bank and prior to the occurrence of his 55th birthday, the Bank will pay $2,070 per month for a continuous period of 120 months to the Beneficiary or Beneficiaries of the Executive. The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Executive died. In the event of the death of the last living Beneficiary before all installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Executive, any payments remaining unpaid at the Executive's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Executive's estate.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Early Retirement Age Early Retirement Age is the later of: (i) the date a Participant attains age ; (ii) the date a Participant reaches the anniversary of the first day of the Plan Year in which the Participant commenced participation in the Plan; or (iii) the date a Participant completes Years of Service. [Note: The Employer should leave blank any of clauses (i), (ii) and (iii) which are not applicable.] If (f)(iii) is selected, “Years of Service” under this Election 34(f)(iii) means (Choose (1) or (2).):

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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