Examples of Benefit Service in a sentence
A Member’s points in a Plan Year shall be the sum of his age on his birthday in the year plus his whole years of Benefit Service as of the end of the year.
Married Participants shall receive this additional benefit in the form of a Qualified Joint and Survivor Annuity, with fifty percent (50%) of such additional amount (for Benefit Service after September 30, 2005) payable to a surviving Eligible Spouse for the spouse’s lifetime.Participants who retire and elect a Lump Sum Benefit may do so only once.
The monthly amount of any additional benefits shall be computed by considering only the additional Benefit Service credited as a result of the Re-employment.
If a Participant is Re-employed and the Re-employment results in crediting of additional Benefit Service, the Participant may apply to the Board for additional benefits.
Such Minimum Benefit shall be the actuarial equivalent of a single life annuity (with no post-retirement ancillary benefits) commencing at the Participant’s Normal Retirement Date determined by multiplying two percent of such Participant’s Minimum Benefit Compensation by the Participant’s years of Benefit Service.