Basic Plan Benefit definition

Basic Plan Benefit means the amount of benefits payable from the Basic Plan to a Member or Vested Former Member.

Basic Plan Benefit means the amount of benefits payable from the Basic Plan to a Participant or Vested Former Participant.

Basic Plan Benefit means the amount of benefit payable to a Participant under any Basic Plan, assuming immediate commencement of payments as of the date of Retirement, with benefits payable in the form of a straight life annuity.

Examples of Basic Plan Benefit in a sentence

• The Disability Benefit of a Member entitled thereto shall be an annual benefit payable in monthly installments under this Plan during the same period as disability benefits are actually paid by the Basic Disability Plan, in an amount equal to 60% of the Member's Covered Earnings, offset by the Member's (i) Basic Disability Plan Benefit, (ii) Basic Plan Benefit, if the Basic Disability Plan Benefit does not already include an offset for such Basic Plan Benefit, and (iii) Other Disability Income.

• A Participant's Disability Benefits shall also be offset by the Participant's Basic Plan Benefit, if the Participant's Basic Disability Plan Benefit does not already include such an offset.

• In determining the Post Retirement Income Benefit for purposes of the preceding sentence, the Wiley Basic Plan Benefit shall be deemed to be the annual benefit to which the Participant will be or is entitled at age 55 or the date of such Separation from Service, whichever is later.

• If the Participant becomes disabled and if he receives long-term disability benefits from the Company's Long-Term Disability Plan, the monthly benefit payable at Normal Retirement Date to the Participant under this Plan will be equal to the monthly benefit determined in accordance with Section 3.1 based on Service to Normal Retirement Date and Earnings and the Participant's Basic Plan Benefit as of the Participant's date of disability.

• A Participant’s Disability Benefits shall also be offset by the Participant’s Basic Plan Benefit, if the Participant’s Basic Disability Plan Benefit does not already include such an offset.

More Definitions of Basic Plan Benefit

Basic Plan Benefit means the annual amount of benefit payable from the Basic Plan to a Participant in the form of a straight life annuity.

Basic Plan Benefit means the sum of the monthly benefits payable from the Pension Plan and the VEC Pension Plan which:

Basic Plan Benefit means a benefit expressed as a single life annuity beginning at age 65 determined under the following formula:

Basic Plan Benefit means the amount of benefit payable from the Basic Plan to a Participant in the form of a straight life annuity when benefits commence under the Basic Plan.

Basic Plan Benefit means the annual benefit payable from the Basic Plan to a Participant in the form of a straight life annuity. If the Basic Plan provides for lump sum or installment payment options, the value of such payments shall be converted to a straight life annuity based on actuarial factors selected by the Committee. If the Basic Plan provides for contributions that are based upon the Participant’s elective deferral of compensation, such as may be available under a cash or deferred arrangement described in Code Section 401(k), the Basic Plan Benefit shall not include benefits that are attributable to such contributions and any earnings thereon (other than matching contributions, if any, as defined in Code Section 401(m)(4)(A), and any earnings thereon).

Basic Plan Benefit means the annual benefit payable under the Basic Plan in the form of a straight-life annuity at the time of retirement or at age 65, whichever benefit is greater.

Basic Plan Benefit means the amount of benefit payable from the Basic Plan to a Participant (a) in the form of an unreduced straight life annuity, where the Participant's benefit from this Plan is payable in the form of an annuity; or (b) in the form of a single lump sum, where the Participant's benefit from this Plan is payable in the form of a lump sum.