Common use of Supplemental Retirement Clause in Contracts

Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to One Hundred Two Thousand Three Hundred and Sixty-Two Dollars ($102,362) at age 65 if paid entirely from the Accrued Benefit Account or Sixty-Five Thousand Five Hundred and Twelve Dollars ($65,512) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions). Exhibit A

Appears in 2 contracts

Samples: www.sec.gov, Retirement Income Agreement (Magyar Bancorp, Inc.)

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Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to One Hundred Two Fifty-Four Thousand Three Six Hundred and SixtyNinety-Two Six Dollars ($102,36254,696) at age 65 if paid entirely from the Accrued Benefit Account or SixtyThirty-Five Eight Thousand Five Hundred and Twelve Fourteen Dollars ($65,51238,014) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! · the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions). Exhibit A

Appears in 1 contract

Samples: Deferred Compensation Agreement (First Bancorp of Indiana Inc)

Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to One Hundred Seventy-Two Thousand Three Hundred and SixtyTwenty-Two Eight Dollars ($102,36272,328) at age 65 if paid entirely from the Accrued Benefit Account or SixtyFifty-Five Two Thousand Five Hundred and Twelve Seventy-Six Dollars ($65,51252,076) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions). Exhibit A

Appears in 1 contract

Samples: Income Agreement (United Community Bancorp)

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Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to One One-Hundred Two Thousand Three Six Hundred and Sixty-Two Twelve Dollars ($102,362100,612) at age 65 if paid entirely from the Accrued Benefit Account or Sixty-Five Four Thousand Five Three Hundred and Twelve Ninety-Two Dollars ($65,51264,392) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions). Exhibit A

Appears in 1 contract

Samples: Retirement Income Agreement (Magyar Bancorp, Inc.)

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