AMOUNT OF PENSION. 7.01 Each Member who retires at their Normal Retirement Date shall receive a Pension, commencing on their Retirement Date and payable in equal monthly installments. Each monthly installment shall be equal to one-twelfth (1/12) of the sum of the following (as may be applicable):
AMOUNT OF PENSION. 6.01 Each member who retires from service with the Company on or after his Normal Retirement Date and the effective date and who has completed ten or more years of Continuous Service with the Company, shall receive a monthly pension commencing on the first day of the month coincident with or next following his retirement date equal to the amount indicated in the following table multiplied by the number of years of his Credited Service: Retirement Date Amount of Pension After May 1, 2000 $27.00 After May 1, 2001 $29.00 After May 1, 2003 $32.00 After May 1, 2004 $33.00 After May 1, 2005 $35.00 After May 1, 2006 $36.00 After May 1, 2007 $37.00 After May 1, 2008 $39.00 Supplemental Pension - Age 55 to 65 years of age - $3.00 increase to a total of $9.00 per year of service, Effective May 1, 2003 - $1.00 increase to a total of $10.00 per year of service, Effective May 1, 2006 Supplemental Pension is not subject to a reduction factor for early retirement and will be paid until the employee’s sixty fifth (65) birthday. Pension (and all service) will be suspended for one year commencing May 1, 2009 (or a time subsequent to this date that can be completed at the earliest point practical following notice.
AMOUNT OF PENSION. The pension payable to a Member on his Retirement Date shall be equal to the amount of pension in the normal form, or an optional form as elected by the Member which can be purchased from an Insurance Company with an amount equal to the contributions made on behalf of the Member by the Company, plus Credited Interest.
AMOUNT OF PENSION. Article F, Section F-2 of the Pension Plan shall be amended as follows:
AMOUNT OF PENSION. Subject to Section 4.2.5, the Pension payable to the Executive hereunder shall be a single life annuity commencing on the first day of the month following the month in which the Elected Payment Date (as defined below) occurs, which, when added to the Executive’s Other Retirement Benefits (as defined below), provides the Executive with an annuity for life equal to 45% of his Average Base and Bonus (as defined below). No actuarial or other adjustment shall be made to the Pension for commencement after the date that the Executive attains age 65.
AMOUNT OF PENSION. Since your pension is based on earnings and service these terms should first be clarified.
AMOUNT OF PENSION. The amount of the monthly pension payable to an employee retired pursuant to the provisions of this Article IV shall be: A basic pension determined by multiplying his years of credited service by the Basic Benefit Rate as set forth in the Pension Benefit Rates according to Article XV.
AMOUNT OF PENSION. 7. Normal Pension ...............................................................................................................
AMOUNT OF PENSION. The pension payable to a Member on his Retirement Date shall be equal to the amount of pension in the normal form, or an optional form as by the Member which can be purchased an Insurance Company with an amount equal to the contributions on behalf of the Member by the Company, plus Credited Interest. ARTICLE OPTIONAL FORMS OF PENSION JOINTANNUITY OPTION Instead of the Pension in the normal form as provided for in Section a Member may elect a joint annuity option providing for a monthly pension during his lifetime and for the continuance after his death of a percentage of such reduced pension to a designated joint annuitant. Such percentagewhich shall be by the Member at the time of the election of options, shall be either or Life Pension With Five, Ten or Fifteen-Year Guarantee Instead of the pension in the normal form as provided for in Section a Member elect a life pension with a five, ten or fifteen-year guarantee. Under this option, a pension is payable monthly to the Member during his lifetime and, in the event of before payments have been made for the guaranteed period elected, such payments shall be continued to his Beneficiary for the balance of guaranteed period or the Actuarial Equivalent of the balance of such guaranteed monthly payments shall be paid to his Beneficiary. In the event there is no Beneficiary on the date of death of the Pensioner, an Actuarial Equivalent lump sum shall be paid to the estate of the Pensioner.
AMOUNT OF PENSION. An employee who has been in active employment on or after the effective date of the Plan, and who has attained age sixty-five and who has credited service may retire on or after the first day of June, and is eligible for a Normal Retirement Pension upon his/her retirement. The normal retirement pension is to consist of a basic monthly pension for life at forty dollars for each year of credited service for an employee whose retirement is on or after June but prior to June or
