Amount of Retirement Benefit. At your normal retirement date, you will receive an annual retirement benefit, payable monthly, equal to: For credited service prior to January 1, 1990: 1% of your Final Average Salary up to the Final Average YMPE, Plus
Amount of Retirement Benefit. (Basic Plan only)
Amount of Retirement Benefit. Subject to the limitations contained in Section 415 of the Code, an eligible Participant who is subject to a valid and binding DROP Election shall be entitled to receive a monthly retirement income, beginning with the first day of the month coincident with or next following his or her DROP Retirement Date equal to:
Amount of Retirement Benefit. At your normal retirement date, you will receive an annual retirement benefit payable monthly, equal to:
Amount of Retirement Benefit. The annual benefit under this Section 2.1 is fifty-three percent (53%) of Final Pay at the Normal Retirement Date.
Amount of Retirement Benefit. A Participant entitled to a benefit under Section A.03 will receive a benefit equal in value to the excess of (a) over (b) as follows:
Amount of Retirement Benefit. If Mr. Xxxxxxxx xetires from the Company on or after his attainment of age 65, Mr. Xxxxxxxx xill receive a benefit under this Program equal to (a) minus (b), where (a) equals the benefit Mr. Xxxxxxxx xould have received under the Grumman SRP calculated as if he had 25 years of "Continuous Service" credited under the Grumman SRP, and (b) equals the benefit to which he is actually entitled under the Grumman SRP.
Amount of Retirement Benefit. The supplemental retirement benefit shall be an amount equal to:
Amount of Retirement Benefit. Upon a Separation from Service, the Executive shall be entitled to a cash benefit of One Million Five Hundred Thousand Dollars ($1,500,000), or a portion thereof, in accordance with the following vesting schedule as of the Effective Date in 2013 and the anniversary of the Executive’s date of birth on each year listed below (the “Retirement Benefit”): Year Age Vested Amount Effective Date 44 $ 868,421 April 2, 2014 45 $ 947,368 April 2, 2015 46 $ 1,026,316 April 2, 2016 47 $ 1,105,263 April 2, 2017 48 $ 1,184,211 April 2, 2018 49 $ 1,263,158 April 2, 2019 50 $ 1,342,105 April 2, 2020 51 $ 1,421,053 April 2, 2021 52 $ 1,500,000
Amount of Retirement Benefit
