Common use of Amount of Allowance Clause in Contracts

Amount of Allowance. (a) The amount of the retirement allowance payable in the form of a life annuity to a Covered Member who retires under Article 3, Retirement Allowance, of the Retirement Pension Plan shall be based on the Covered Member’s age in years and completed whole months, job classification and credited service at termination of employment; and date of termination of employment, or normal retirement date if earlier, determined from the attached tables, by multiplying the appropriate monthly benefit per year of service by the number of years of his credited service, subject to the provisions contained in Article 4, Provisions Relating to Pension Agreements, of the Retirement Pension Plan.

Appears in 1 contract

Samples: Agreement

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Amount of Allowance. (a) The amount of the retirement allowance payable in the form of a life annuity to a Covered Member who retires under normal or early retirement under Article 3, Retirement Allowance, of the Retirement Pension Plan shall be based on the Covered Member’s 's age in years and completed whole months, job classification and credited service at termination of employment; and date of termination of employment, or normal retirement date if earlier, determined from the attached tables, by multiplying the appropriate monthly benefit per year of service by the number of years of his credited service, subject to the provisions contained in Article 4, Provisions Relating to Pension Agreements, of the Retirement Pension Plan.

Appears in 1 contract

Samples: Agreement

Amount of Allowance. (a) The amount of the retirement allowance payable in the form of a life annuity to a Covered Member who retires under normal or early retirement under Article 3, Retirement Allowance, of the Retirement Pension Plan shall be based on the Covered Member’s age in years and completed whole months, job classification and credited service at termination of employment; and date of termination of employment, or normal retirement date if earlier, determined from the attached tables, tables by multiplying the appropriate monthly benefit per year of service by the number of years of his credited service, subject to the provisions provision contained in Article 4, Provisions Relating to Pension Agreements, of the Retirement Pension Plan.

Appears in 1 contract

Samples: Agreement

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Amount of Allowance. (a) The amount of the retirement allowance Retirement Allowance payable in the form of a life annuity to a Covered Member who retires under normal or early retirement under R Article 3, Retirement Allowance, of the Retirement Pension Plan shall be based on the Covered Member’s 's age in years and completed whole months, job classification and credited service at termination of employment; and date of termination of employment, or normal retirement date if earlier, determined from the attached tables, by multiplying the appropriate monthly benefit per year of service by the number of years of his credited service, subject to the provisions contained in Article 4, Provisions Relating to Pension Agreements, of the Retirement Pension Plan.

Appears in 1 contract

Samples: Agreement

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