Benefit Calculation Date definition
Examples of Benefit Calculation Date in a sentence
No later than ninety (90) days after the Benefit Calculation Date, in full and complete satisfaction of all amounts to which the Executive is entitled under this Agreement, CERBCO shall pay to the Executive the Actuarial Equivalent of the Executive’s Supplemental Benefit.
If the Earliest Retirement Date is later than the Benefit Calculation Date, the benefit shall be reduced to the Actuarial Equivalent, as defined in the Retirement Plan and as determined in accordance with Section 1.1.15 of the Retirement Plan, of the Retirement Plan Amount.
Benefit Calculation Date shall mean December 31S` of each calendar year commencing in the year in which the Executive attains his sixty-eighth (65th) birthday and continuing until the death of the Executive.
No Pension Benefit Amount shall accrue under this Agreement on or after the Benefit Calculation Date.
If the Earliest Retirement Date is later than the Benefit Calculation Date, the benefit shall be reduced to the Actuarial Equivalent, determined in accordance with Section 1.1.15 of the Retirement Plan, of the Actual Accrued benefit Offset.
The Pension Benefit Amount shall earn simple interest at the Moody’s Corporate Bond Average rate, determined as of the date of the Benefit Calculation Date, from such Benefit Calculation Date to the date of actual payment.
In the event of ▇▇▇▇▇▇▇’▇ Termination of Employment, the Pension Benefit Amount calculated under Section 3.1 shall be payable to ▇▇▇▇▇▇▇ in a lump sum on the date that is six months after the Benefit Calculation Date.
The Benefit Payment Date is the last business day of January following the Benefit Calculation Date as set forth herein.
The Benefit Calculation Date is December 31 of each calendar year beginning in the year in which the Executive attains age 55.
If ▇▇▇▇▇▇▇ dies prior to the Benefit Calculation Date or prior to payment of the Pension Benefit Amount, the Pension Benefit Amount shall be paid as soon as administratively feasible after the date of ▇▇▇▇▇▇▇’▇ death in a lump sum to his beneficiary as indicated on his designation of beneficiary form on file with SM&P.