Annual Supplemental Retirement Benefit definition

Annual Supplemental Retirement Benefit means the annual benefit to be paid from the Plan, as provided in Section 7, and shall be paid in accordance with the provisions of Section 5.
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Annual Supplemental Retirement Benefit means the annual benefit to be paid from the Plan, as provided in Section 7 hereof.
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Annual Supplemental Retirement Benefit means the annual benefit payable to a Participant pursuant to the Plan, as determined in accordance with provisions of Section 4.01 of the Plan.
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Examples of Annual Supplemental Retirement Benefit in a sentence

  • Each Participant who shall retire under the conditions set forth in Section 7 will receive an Annual Supplemental Retirement Benefit paid from the general assets of the Corporation for a period of fifteen years commencing as provided herein.

  • Each Participant who shall have a Separation from Service under the conditions set forth in Section 7 will receive a monthly Annual Supplemental Retirement Benefit paid from the general assets of the Corporation for a period of fifteen years commencing as provided herein.

  • Each Participant who shall retire under the conditions set forth in Section 7 will receive a monthly Annual Supplemental Retirement Benefit paid from the general assets of the Corporation for a period of fifteen years commencing as provided herein.

  • The “Annual Supplemental Retirement Benefit Amount” shall be determined by multiplying the Average Annual Compensation by 40 percent, and then subtracting $79,700; provided, however, the Annual Supplemental Retirement Benefit Amount shall be no less than $67,200.

  • A Participant's Annual Supplemental Retirement Benefit under the Plan shall be paid in monthly installments commencing on the first day of the month next following the Participant's retirement date under the Regulations, except that no benefit shall be paid prior to the date benefits under the Plan can be definitely determined by the Plan Administrator.

  • No "Annual Increment" shall be payable with respect to any benefit under the Plan except that the Annual Supplemental Retirement Benefit determined under this Section 4.01 shall be actuarially increased to reflect the value of the "Annual Increment" which would have been payable under the Regulations, utilizing for that purpose the same actuarial factors and assumptions then used by the Fund to determine actuarial equivalence under the Regulations.

  • Upon the Participant's subsequent retirement or termination of employment with the Employer, his benefit under the Plan shall be recomputed in accordance with Sections 4.01 and 6.01 of the Plan, but shall be reduced by the equivalent value of the amount of any Annual Supplemental Retirement Benefit paid by the Plan in respect of his previous retirement or termination of employment, and such reduced benefit shall be paid to such Participant in accordance with the provisions of the Plan.

  • The “Total Supplemental Retirement Benefit Amount” will be the Annual Supplemental Retirement Benefit Amount multiplied by ten; provided, however, in the event of the death or Disability of the Executive prior to the Vesting Date, the Total Supplemental Retirement Benefit Amount will be $672,000 for purposes of Section 2(a) and Section 2(b).

  • If a Participant to whom an Annual Supplemental Retirement Benefit is payable under the Plan dies before commencement of the payment of his benefit, the death benefit payable under paragraph (a) of this Section 6.03 shall be payable to the Participant's Beneficiary as if the payment of the Participant's benefit had commenced on the first day of the month in which his death occurred.

  • If a Participant is restored to employment with the Employer after payment of his Annual Supplemental Retirement Benefit under the Plan has commenced, all payments under the Plan shall thereupon be discontinued.

Related to Annual Supplemental Retirement Benefit

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Termination Benefit means the benefit set forth in Article 7.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Disability Benefit means the benefit set forth in Article 8.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.