Retirement Income a) Your PLAN will mature on a date (“maturity date”) which must not be later than December 31 of the year in which your 71st birthday (or such other age as prescribed by the Act) occurs. You will, upon at least 90 days’ written notice to the Trustee or upon such shorter period of notice as the Trustee may in its sole discretion permit:
Retirement Income. 21.01 All eligible regular and seasonal employees will continue to participate in the Company Retirement System.
Retirement Income. The whole of the Fund shall be invested, used and applied by the Trustee for the purposes of providing a retirement income. The Annuitant will, upon 90 days’ written notice to the Trustee, specify the date for the commencement of retirement income, which date shall not be later than the end of the calendar year in which the Annuitant attains age 71 (such date being referred to herein as “maturity”). Such notice shall indicate the name of the company from which such retirement income shall be purchased and shall instruct the Trustee to liquidate the assets in the Plan and apply the proceeds for the provision of a retirement income for the Annuitant in accordance with the terms hereinafter set out, or to amend the Plan in order to permit the transfer of the value of such account to the carrier of the registered retirement income fund of the Annuitant. Any retirement income purchased by the Trustee shall, at the option of the Annuitant, be:
Retirement Income. Commencing not later than the first calendar year after the year in which the FUND is established, the retirement income payable each year will be one or more amounts the aggregate of which is not less than the minimum amount as defined below, but in no event will the retirement income exceed the fair market value of the FUND immediately before the time of payment. If the Trustee agrees, you may elect to receive in any year any amount between the minimum amount and the fair market value of the property in the FUND. The minimum amount will be the minimum amount as defined in subsection 146.3(l) of the Act. If, at the time that the Trustee is to make payment to you of the minimum amount and the only property remaining in the FUND cannot be partially liquidated to fund such payment, the Trustee may, at its sole discretion, make such payment by transfer in-kind of all such remaining property to you or to a non-registered account in your name, even though such transfer exceeds the amount of the required payment, regardless of any tax consequences to you. If you elect to have your minimum amount determined using your spouse’s age, you must complete the appropriate area on the face of this form before the Trustee makes any payment out of the FUND to you. At the end of the year in which the last payment is made, an amount equal to the value of the property must be paid out. No assignment will be made of any amount payable to you or, if applicable, to your spouse, out of or under the FUND.
Retirement Income. (1) Subject to subsections (2) and (3), this locked-in retirement account may be converted to a life income fund or annuity any time after the owner of the locked-in retirement account reaches 50 years of age, and must be converted to retirement income on or before the last date on which a person is allowed under the Income Tax Act (Canada) to start receiving a pension from a registered pension plan.
Retirement Income. Executive has become vested in the retirement income provided for in Executive's previous employment contract with the Company. Such retirement income is payable as set forth and subject to the provisions of this Agreement. The Company shall provide Executive with retirement income, with a lifetime survivor benefit to Executive's spouse, in an amount equal to fifty percent (50%) of Executive's Base Compensation in effect on the date of Executive's retirement, payable on a monthly basis as set forth below:
Retirement Income. At normal retirement date (age 65) income will be 2% of the final average earnings (highest 4 of the last 10 July 1st earnings, multiplied by the number of credited service.
Retirement Income. The whole of the Trust Fund shall be invested, used, and applied by us only for the provision of a retirement income to you or, if applicable, to your spouse. You will, upon 90 days’ written notice to us, specify the date for the commencement of retirement income, which shall not be later than the end of the calendar year in which you turn age 71 or such other age or date as may be set out in the Act from time to time (such date being referred to herein as “Maturity”). Such notice shall indicate the form of retirement income to be purchased by our Agent and shall, at your option be either:
Retirement Income. The retirement income shall be paid as provided in Section 2 (g) hereof.
Retirement Income. (a) Termination Prior to January 1, 2009 For Participants who were not Employees on, or after, January 1, 2009, the retirement income paid monthly shall be calculated using the average monthly Basic Compensation paid during the twelve (12) most highly compensated consecutive months of Service multiplied by the applicable defined benefit formula factor in effect as of the date the Participant separated from service at the District, as shown in the table in the applicable Schedule of Appendix G.
