Primary Social Security definition

Primary Social Security means the estimated primary insurance amount under the Social Security law in effect on December 31, 1991.
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Primary Social Security means the monthly benefit which a retired Member or a terminated Member receives or would be entitled to receive at his 62nd birthday, or in the case of a Member who terminates employment after age 62, at the date his Benefit Service terminates as a primary insurance amount under the U.S. Social Security Act, as amended, whether he applies for such benefit or not, and even though he may lose part or all of such benefit for any reason. The amount of such Primary Social Security to which the retired or terminated Member is or would be entitled shall be estimated and computed by the Company for the purposes of the Plan as of the January 1 of the calandar year of retirement or termination on the following basis:
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Primary Social Security means the actual Social Security Benefit paid to the Participant at initial retirement.
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Examples of Primary Social Security in a sentence

  • Estimates of Primary Social Security Amounts shall be made on the basis of the Social Security Act as in effect at the Participant’s Severance from Service Date, without regard to any increases in the social security wage base or benefit levels provided by such Act which take effect thereafter.

  • Any such optional method of retirement payment shall be the actuarial equivalent of the actual dollar amount of lifetime retirement allowance otherwise payable from this Plan after adjustment for the benefit payable from the Pension Plan and the Primary Social Security Benefit.

  • A Participant who is entitled to an Early Retirement Benefit under Section 3.2 and who elects to have such benefit commence prior to age 62 may elect the Level Income Option, unless the Primary Social Security Benefits which the Participant could elect to receive at age 62 would equal or exceed the amount of the monthly annuity payments prior to age 62 or unless the Participant is receiving Social Security disability benefits.

  • The benefit for each Year of Benefit Service over 20 shall be one-half of one percent (.5 percent) of Final Average Pay, minus any portion of the Retirement Plan Benefit and Primary Social Security Benefit that exceeds the basic benefit under 2.1-1 for the first 20 Years of Benefit Service.

  • The monthly Social Security offset amount used in paragraph (e) of this Section shall be based upon the maximum 2007 Primary Social Security benefit, regardless of the executive’s age as of January 1, 2007 or availability to him/her of a U.

  • Primary Social Security Benefit shall have the meaning ascribed to that term in and by the Retirement Plan.

  • The amounts described in 2.1-5(a) and (b) shall not change after removal, but the amounts described in 2.1-5(c) may change due to further accruals or other increases in the Retirement Plan Benefit and Primary Social Security Benefit.

  • The following terms shall have the same meanings as those defined in the Milacron Retirement Plan, hereinafter called the Retirement Plan - Highest Average Compensation; Accrued Benefit; Year of Credited Service; Benefit Commencement Date; Normal Retirement Date; Early Retirement Date; Primary Social Security Benefit; Actuarial Equivalent; Company; Board; Participant.

  • The Participating Employee’s Primary Social Security Benefit, multiplied by clauses (b), (c), and (d) above.

  • The monthly Social Security offset amount used in paragraph (d) of this Section shall be based upon the maximum 2007 monthly Primary Social Security benefit, regardless of the executive’s age as of January 1, 2007 or availability to him/her of a U.


More Definitions of Primary Social Security

Primary Social Security means the primary benefit paid to an Officer under the Federal Social Security Act, as amended from time to time.
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Primary Social Security means the annual amount payable at age 65 under the Social Security law in effect at retirement. If the Executive terminates employment prior to age 65, the Primary Social Security benefit is estimated assuming that the Social Security Law does not change and earnings are constant until age 65 at the level during the last full calendar year of employment.
Sample 1
Primary Social Security means the monthly Primary Insurance Amount payable at age 65 under Social Security multiplied by twelve. The Primary Insurance Amount will be calculated as of the date of retirement or termination or as of age 65, if earlier, based upon provisions of the Social Security Act in effect at that date. In determining this amount, all earnings subject to Social Security taxes prior to the date of termination will be used.
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Primary Social Security means the estimated Primary Insurance Amount (payable monthly) available to a Member at age 62, or his Distribution Date, whichever is later, under the Social Security Act in effect at that time.
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Related to Primary Social Security

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Social Security means the old-age survivors and disability section of the Federal Social Security Act;

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Social Security Number Employee Date of Hire: Job Title: Employee D.O.B: Name of Cost Center working for Race of Employee (two part question):

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

  • Social Security numbers The Contractor agrees to comply with all applicable Vermont State Statutes to assure protection and security of personal information, including protection from identity theft as outlined in Title 9, Vermont Statutes Annotated, Ch. 62.

  • Social Security Benefit means the Primary Insurance Amount to which a Participant becomes entitled at age sixty-five (65) under Social Security legislation in effect on the earliest of his Normal Retirement Date, early retirement date or Termination Date.

  • Social Security Act means the Social Security Act of 1965 as set forth in Title 42 of the United States Code, as amended, and any successor statute thereto, as interpreted by the rules and regulations issued thereunder, in each case as in effect from time to time. References to sections of the Social Security Act shall be construed to refer to any successor sections.

  • Licensed clinical social worker means an individual who meets the licensed clinical social worker requirements established in KRS 335.100.

  • Open enrollment means a period of time as defined in rule

  • Facility administrator means chief probation officer, sheriff, marshal, chief of police or other official charged by law with administration of the facility.

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • Group health plan means an employee welfare benefit plan as defined in section 3(1) of subtitle A of title I of the employee retirement income security act of 1974, Public Law 93-406, 29 USC 1002, to the extent that the plan provides medical care, including items and services paid for as medical care to employees or their dependents as defined under the terms of the plan directly or through insurance, reimbursement, or otherwise.