Basic Pension Plan Benefit definition

Basic Pension Plan Benefit means the benefit, stated as a monthly annuity for the Member’s life, commencing at the Member’s Normal Retirement Date, under which the annual payments shall equal the Benefit Base as determined under the Basic Pension Plan, taking into account the effect, if any, of the Benefit Limitations and the fact that deferrals under the National Fuel Gas Company Deferred Compensation Plan are excluded from the definition of Final Average Pay under the Basic Pension Plan.
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Basic Pension Plan Benefit means the annual amount of benefit payable from the Basic Pension Plan to a Participant on his Retirement Date in the form of a straight life annuity without a cost-of-living feature unless one is provided under the Basic Pension Plan.
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Basic Pension Plan Benefit means the amount of benefit payable from the Basic Pension Plan to the Participant.
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Examples of Basic Pension Plan Benefit in a sentence

  • The Board and the member shall make equal contributions to the O.M.E.R.S. Basic Pension Plan Benefit as prescribed under the O.M.E.R.S. Act and Regulations thereto.

  • The annual Supplemental Retirement Benefit or the annual Spouse's Supplemental Retirement Benefit will not be decreased or increased on account of any increase or decrease in the Basic Pension Plan Benefit, Cash Balance Restoration Plan Benefit, or Social Security Benefit occurring after a Participant's Retirement Date or death.

  • The Restored Pension Plan Benefit was calculated as the difference, determined as of August 30, 2013, between the normal form of pension that would be payable to the Participant under the Pension Plan without regard to the Applicable Code Limitations and such Participant’s Basic Pension Plan Benefit.

  • PENSION PLAN age for Police members of the Service shall be sixty years of Board shall provide the Basic Pension Plan Benefit as prescribed under the and Regulations thereto as amended).

  • Any employee of the Employer whose Basic Pension Plan Benefit is limited by the benefit limitations of Code Sections 401(a)(17) and/or 415 and/or any employee who has been granted additional years of service for purposes of this plan shall participate in this plan if designated for coverage hereunder by the Board of Directors.

  • A Participant's Basic Pension Plan Benefit will be as determined in the immediately preceding sentence whether or not the Participant's benefits under the Pension Plan are actually paid as a straight Life Annuity and whether or not the benefit is actually paid to the Participant.

  • Basic Pension Plan Benefit: The amount of pension payable to the Participant under the Pension Plan after reduction to comply with the limits of Code Sections 401(a)(17) and/or 415.

  • Basic Pension Plan Benefit means the pension benefit payable from the Pension Plan to a Participant, computed without regard to the benefit limitations imposed on the Plan by Section 415 of the Code.

  • Basic Pension Plan Benefit means the pension benefit payable from the Pension Plan to a Participant, computed without regard to the benefit limitations imposed on the Pension Plan by Sections 415 and 401(a)(17) of the Code, and, in the case of an MIP/SIP Limited Participant, computed taking into account the MIP/SIP Limited Participant's MIP/SIP Limited Compensation as eligible earnings under the Pension Plan.

  • A Participant's "Basic Pension Plan Benefit" shall mean the monthly benefit that would be payable to a Participant under the Pension Plan if the form of payment of such benefit were a straight Life Annuity under the Pension Plan commencing as of the earlier of (a) the date on which the first benefit payment is made to the Participant under the Pension Plan and (b) the Participant's Qualifying Date.


More Definitions of Basic Pension Plan Benefit

Basic Pension Plan Benefit means the amount of pension payable in the normal form to the Participant under the Pension Plan after reduction to comply with the Applicable Code Provisions.
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Basic Pension Plan Benefit means the pension benefit that would be payable from the Pension Plan to a Participant, computed without regard to the benefit limitations imposed on the Pension Plan by Sections 415 and 401(a)(17) of the Code, and, in the case of an MIP/SIP Limited Participant, computed taking into account the MIP/SIP Limited Participant’s MIP/SIP Limited Compensation as eligible earnings under the Pension Plan.
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Related to Basic Pension Plan Benefit

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

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

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

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

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

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

  • 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.

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

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

  • 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.

  • 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.

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

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

  • 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).

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

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

  • Basic Plan means as to any Member or Vested Former Member the defined benefit pension plan of the Company or an Affiliated Employer intended to meet the requirements of Code Section 401(a) pursuant to which retirement benefits are payable to such Member or Vested Former Member or to the Surviving Spouse or designated beneficiary of a deceased Member or Vested Former Member.

  • Deferred Plan means a trust governed by a registered retirement savings plan, registered retirement income fund, registered education savings plan or tax-free savings account.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

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

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

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • 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).