Accrued retirement benefit definition

Accrued retirement benefit means two and one-half percent (2 1/2%) of the firefighter's final average salary multiplied by the member's years of credited service not to exceed thirty (30) years;

Accrued retirement benefit means two and one-half percent

Accrued retirement benefit means, in relation to any Eligible Director that is a member of the Board on the Plan Effective Date, the amount set forth opposite such Eligible Director's name on Schedule A annexed hereto, which amount corresponds to the present value of the annual retirement benefits that would be payable to such Eligible Director under the Fluor Corporation Retirement Plan for Outside Directors following his or her mandatory retirement based on years of service prior to the Plan Effective Date and life expectancy after retirement, assuming a discount rate approximating the interest rate on 30-year treasury obligations of the United States government.

Examples of Accrued retirement benefit in a sentence

• Provision for retirement benefits Accrued retirement benefit for employees is provided at the amount calculated based on the retirement benefit obligation and the fair value of the pension plan assets as of the end of the financial year.

• Table 3 – Accrued retirement benefit as at 31 July 2005 Non-executive directors entitled to retirement benefits*Years of serviceAccrued retirement benefi tRichard Allert (Chairman)9$1,078,619Patty Akopiantz3$315,232Bill Gurry4$322,469Martyn Myer8$370,287Total $2,086,607* In addition, Mark Leibler received a payment of $374,560 upon retirement from office on 18 November 2004.

• Accrued retirement benefit for directors and corporate audi- tors have been made for the vested benefits to which they were entitled if they were to retire or sever immediately at the balance sheet date.

• Accrued retirement benefit (1-2)591,780 220,553371,227618,413 207,680410,733(Note) The pension assets to be transferred to the defined contribution pension account amounts to 132,712 thousand yen and the assets have been transferred over the past four years.

• Accrued retirement benefit was reclassified to the new account title, retirement benefit obligation, under PFRS.

More Definitions of Accrued retirement benefit

Accrued retirement benefit means as to each Participant a monthly benefit that is equal to the Participant’s Normal Retirement Benefit computed as of any date in accordance with Section 2.2.

Accrued retirement benefit means the amount of a prospective retirement benefit attributable to past membership or service determined in accordance with Professional Standard 402 (Determination of Accrued Benefits for Defined Benefit Superannuation Funds).

Accrued retirement benefit means, as of any date before a Director's ---------------------------- Normal Retirement Age, that cumulative portion of a Director's Retirement Benefit which he has earned in accordance with the schedule attached to his Signature Page. In order to accrue an additional benefit for any calendar year; the Director must serve on the Board for the entire calendar year.

Accrued retirement benefit means, with respect to a Participant, the balance credited to his Account as of his Annuity Starting Date, if payable as a lump sum, or an Actuarially Equivalent benefit available under the Plan, if payable other than as a lump sum. If there are any surrender charges applicable under the Contract, a Participant's Accrued Retirement Benefit shall be net of those charges, subject to the provisions of Section 3.04.

Accrued retirement benefit as of a given date, shall mean an annual amount of Retirement Benefit to which a Member would be entitled, determined pursuant to Section 5.01 hereof, commencing on his Normal Retirement Date using his Average Compensation and Credited Service determined as of such date in lieu of the corresponding amounts determined as of his Normal Retirement Date. In no event shall the amount of Accrued Retirement Benefit be less than the Member’s Accrued Retirement Benefit on February 16, 1983, determined in accordance with the provisions of the Prior Plan in effect on such date. [This Section is effective for all dates before and including September 30, 2011.]

Accrued retirement benefit as of a given date, shall mean an annual amount of Retirement Benefit to which a Member would be entitled, determined pursuant to Section 5.01 hereof, commencing on his Normal Retirement Date using his Average Compensation and Credited Service determined as of such date in lieu of the corresponding amounts determined as of his Normal Retirement Date. In no event shall the amount of Accrued Retirement Benefit be less than the Member’s Accrued Retirement Benefit on February 16, 1983, determined in accordance with the provisions of the Prior Plan in effect on such date. The Accrued Retirement Benefit of a Member who, as of September 30, 2011, has or had less than twenty (20) years of Credited Service, shall be limited to and not exceed Fifty Percent (50%) of the Average Compensation of the Member determined as of his Normal Retirement Date

Accrued retirement benefit means for purposes of part 1.11 and part 1.15 -