Assumed Early Retirement Pension Benefit definition

Assumed Early Retirement Pension Benefit means the monthly benefit of the normal retirement Pension payable in the form of an annuity to which a Participant would be entitled under the Retirement Plan at his Normal Retirement Date, based upon his projected years of Service at his Normal Retirement Date and calculated with the following assumptions based upon his marital status at the time benefits hereunder commence:
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Examples of Assumed Early Retirement Pension Benefit in a sentence

  • If such eligible Participant's projected years of Service at his Normal Retirement Date are less than fifteen (15), his Target Early Retirement Benefit and his Assumed Early Retirement Pension Benefit shall be calculated based upon his actual years of Service at his Early Retirement Date rather than upon his projected years of Service at his Normal Retirement Date.

  • If such eligible Participant’s projected years of Service at his Normal Retirement Date are less than fifteen (15), his Target Early Retirement Benefit and his Assumed Early Retirement Pension Benefit shall be calculated based upon his actual years of Service at his Early Retirement Date rather than upon his projected years of Service at his Normal Retirement Date.

  • The Assumed Deferred Vested Pension Benefit, Assumed Early Retirement Pension Benefit or Assumed Normal Retirement Pension Benefit, as applicable, shall be determined as of the Progress Merger Effective Time and without regard to the limitations imposed by Section 415 of the Code with respect to the Progress Qualified Retirement Plan.

  • The Assumed Deferred Vested Pension Benefit, Assumed Early Retirement Pension Benefit or Assumed Normal Retirement Pension Benefit, as applicable, shall be determined as of July 2, 2012 and without regard to the limitations imposed by Section 415 of the Code with respect to the Progress Qualified Retirement Plan.

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Related to Assumed Early Retirement Pension Benefit

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

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

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

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

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

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

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

  • 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.

  • 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;

  • Change in Control Benefit means the benefit described in Section 2.4.

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

  • 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.

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

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

  • Actuarial equivalent means a benefit of equal value when

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • 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.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

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

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

  • Termination Benefits means the benefits described in Section 4.1(b).