Basic Retirement Plan Benefit definition

Basic Retirement Plan Benefit means the benefit payable to a Participant under the Basic Retirement Plan and includes benefits payable upon Normal Retirement, Early Retirement, Postponed Retirement, death or termination of service.
Sample 1Sample 2Sample 3
Basic Retirement Plan Benefit means the annual benefit to which a Participant is entitled from the Basic Retirement Plan.
Sample 1Sample 2Sample 3
Basic Retirement Plan Benefit means the Actuarially Equivalent annual benefit to which a Participant is entitled from the Basic Retirement Plan. The Basic Retirement Plan Benefit is based upon the accrued monthly benefit to which a Participant is entitled, payable in the form of a single life annuity commencing on the Participant’s Normal Retirement Date and ending on the first day of the month during which the Participant’s death occurs. No additional Basic Retirement Plan Benefit will be accrued after December 31.2006.
Sample 1Sample 2

Examples of Basic Retirement Plan Benefit in a sentence

  • D12-4 JMAC Change Order #2Monte Meiers, Director of Public Works, presented a request from JMAC for$95,701.00 to finalize the D12-4 project for the water and sewer line improvement installation for 1st Avenue W in Sande Subdivision due to Williams Rural water line, utility lines and groundwater conflicts.

  • For purposes of determining a Participant's accrued Supplemental Retirement Plan Benefit pursuant to this paragraph, the Participant's Basic Retirement Plan Benefit shall be his or her then accrued benefits from the Basic Retirement Plan payable at Normal Retirement Age.

  • If a Basic Retirement Plan Benefit is payable to a Participant in a form other than the Normal Form of Benefit under the Basic Retirement Plan, then his or her Supplemental Retirement Plan Benefit shall be subject to adjustment by the same factors as are applied under the Basic Retirement Plan with respect to the Basic Retirement Plan Benefit of the Participant.

  • Such accrued Supplemental Retirement Plan Benefit shall be calculated as set forth in paragraph 3.2 above based upon the Participant's Years of Accrual Service, Compensation and Basic Retirement Plan Benefit, as of the termination date.

  • Payment of the Supplemental Retirement Benefit to a Participant shall commence on the same date as payment of the Basic Retirement Plan Benefit to the Participant commences with the exception that the lump sum form of payment is elected pursuant to Section 2.6, payment will commence on the Benefit Commencement Date.

  • The Basic Supplemental Plan Benefit shall be computed by subtracting the Basic Retirement Plan Benefit from an amount determined by applying the following percentage to the Participant's Attained Compensation.

  • Household members are proficient English speakers and English is the main language spoken.

  • Except as otherwise expressly provided herein, all terms and conditions of the Basic Retirement Plan applicable to a Basic Retirement Plan Benefit or a Basic Retirement Plan Surviving Spouse Benefit shall also be applicable to a Supplemental Retirement Benefit or a Supplemental Surviving Spouse Benefit payable hereunder.

  • If a Basic Retirement Plan Benefit is payable as described in Section 7.1 of the Basic Retirement Plan, then his Supplemental Plan Benefit shall be subject to adjustment by the same reduction factors as are applicable under the Basic Retirement Plan with respect to the Basic Retirement Plan Benefit of the Participant.

  • Such accrued Supplemental Retirement Plan Benefit shall be calculated as set forth in paragraph 3.2 above based upon the Participant’s Years of Accrual Service, Compensation and Basic Retirement Plan Benefit, as of the termination date.


More Definitions of Basic Retirement Plan Benefit

Basic Retirement Plan Benefit means the benefit payable to a Participant pursuant to the Basic Retirement Plan based on Benefit Service recognized by said plan for benefit accrual, by reason of his termination of employment with the Corporation and its Related Corporations.
Sample 1
Basic Retirement Plan Benefit means the total annual benefit payable or available immediately upon Retirement under the Basic Retirement Plan computed under the provisions of such plan and described as the "Basic Retirement Income," ignoring any adjustment in the benefit for any optional form of payment.
Sample 1
Basic Retirement Plan Benefit means the actuarially equivalent annual benefit to which a Participant is entitled from the Basic Retirement Plan. The Basic Retirement Plan Benefit is based upon the accrued monthly benefit to which a Participant is
Sample 1

Related to Basic Retirement Plan Benefit

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

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

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

  • 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.

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

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

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

  • 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.

  • 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;

  • 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)).

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

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

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

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Disability retirement for plan 1 members, means the period

  • 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.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • 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.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

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

  • 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.

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

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

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

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