Basic Benefit definition

Basic Benefit means the type and amount of support services available to each eligible individual, specifically:
Basic Benefit means the amount determined under Section 4.1 at the time of reference.
Basic Benefit means the benefit established pursuant to Section 134 of this Chapter.

Examples of Basic Benefit in a sentence

  • The expense for certain superannuation schemes (i.e. Basic Benefit and First State Super) is calculated as a percentage of the employees’ salary.

  • At retirement, members can elect the Basic Benefit, the Survivor Option, a Partial Lump-Sum Option Payment (PLOP) or the Advance Pension Option.

  • The VRS Basic Benefit is a lifetime monthly benefit based on a retirement multiplier as a percentage of the member’s average final compensation multiplied by the member’s total service credit.

  • The expense for certain superannuation schemes (i.e. Basic Benefit and First State Super) is calculated as a percentage of the employees' salary.

  • A retirement reduction factor is applied to the Basic Benefit amount for members electing the Survivor Option, PLOP or Advance Pension Option or those retiring with a reduced benefit.


More Definitions of Basic Benefit

Basic Benefit means the accrual made by the Company for the benefit of a Participant equal to 15 percent of the Participant's Compensation, or such lesser amount as the Committee establishes pursuant to Section 3.2.
Basic Benefit means the accrual made by the Company for the benefit of a Participant equal to 7 1/2 percent of the Participant's Compensation.
Basic Benefit means the Total Benefit determined under the Basic Benefit formula, as set forth in Section 3.3.
Basic Benefit means the benefit payable under Section 1 of Appendix E, provided all conditions for eligibility are satisfied.
Basic Benefit means the dollar award granted to a qualified CEAP applicant. The value of the basic benefit varies and is dependent on the income level of the household.
Basic Benefit means the monthly benefit payable under the Plan for the lifetime of a retired or separated employee after age 65, including a benefit reduced by a percentage because of early retirement. The term "basic benefit" shall not include any supplementary pension benefit or special allowance payable under the Plan.