Benefit Payment Date definition
Examples of Benefit Payment Date in a sentence
The written general explanation or description regarding any optional forms of benefit available under the Plan shall be provided to a Participant or former Participant no less than 30 days and no more than 90 days before his Benefit Payment Date unless he legally waives this requirement.
We calculate the Monthly Benefit Amount for each Benefit Payment Date, as follows: A = (B multiplied by C) divided by 12 Where: A = the Monthly Benefit Amount.
The gross amount payable to the Executive on each Benefit Payment Date shall be $600,000 less applicable income and payroll taxes (the "Maximum SERP Benefit"), or, if less than 100% vesting is attained, such lesser amount as shall correspond to the degree of vesting attained.
The schedule in the Certificate shows the guaranteed purchase rates for the Initial Benefit Payment Date selected.
The amount payable to the Executive on each Benefit Payment Date shall be such amount as shall be necessary to leave the Executive with $200,000 net after the payment of applicable income taxes (the "Maximum SERP Benefit"), or, if less than 100% vesting is attained, such lesser amount as shall correspond to the degree of vesting attained.