Contemporary Pension Option definition

Contemporary Pension Option means the benefit provided to Officers Listed in Exhibit 1 who elect the Contemporary Pension Option on or before 15 November 1996, and all other Executives who become Participants on or after 1 January 1997.
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Examples of Contemporary Pension Option in a sentence

  • Early retirement under the Contemporary Pension Option as provided in Section 3.4 of this plan.

  • Benefits under this Plan shall become nonforfeitable at the earlier of disability, or retirement under the Traditional Pension Option of the Qualified Retirement Plan after reaching age 60 or after five years of service credit and termination of employment or retirement under the Qualified Retirement Plan Contemporary Pension Option.

  • A Participant shall be eligible for benefits under the provisions of this Plan who has attained age 60 under the Traditional Pension Option or age 55 under the Contemporary Pension Option or at any age if eligible to retire on 1 January 1997 and retires under the provisions of the Qualified Retirement Plan.

  • The amount determined in 3.2 above shall be reduced 1/3% per month from the unreduced full benefit age provided in the Contemporary Pension Option of the Qualified Retirement Plan as of the date benefits commence.

  • It will also help prevent exposure of Offeror’s proposal prepared in response to a defective or inaccurate solicitation upon which award could not be made.

  • The ---------------------------------------------------------------- amount determined in 3.2 above shall be reduced 1/3% per month from the unreduced full benefit age provided in the Contemporary Pension Option of the Qualified Retirement Plan as of the date benefits commence.

  • Relationship between SRTS project characteristics and change in rate of ATS....................

  • Reduction for Early Retirement under Contemporary Pension Option.

  • A Participant shall be eligible for benefits under the provisions of this Plan if such Participant is (1) entitled to a Vested Plan Benefit under the Qualified Retirement Plan, (2) has attained Salary Grade 13 or above on or before 31 October 2014, and (3) has attained (a) age 60 under the Traditional Pension Option; (b) any age under the Contemporary Pension Option; or (c) any age, if eligible to retire on 1 January 1997.

  • The amount determined in 3.2 above shall be reduced 1/3% per month from the unreduced full benefit age, as defined under the terms of the Contemporary Pension Option of the Qualified Retirement Plan in effect as of 1 January 2007, as of the date benefits commence.3.5Commencement and Duration.

Related to Contemporary Pension Option

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Renewal Option has the meaning set forth in §12.1.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

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

  • Compensation Options means the options of the Company to be issued to the Agent pursuant to Section 8.2 hereof to acquire Compensation Shares;

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

  • Extension Term means the time period defined in §2.C.

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

  • Commencement Date means the date fourteen (14) days after the date the Contract comes into effect or any other date named in the Contract Data.

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Temporary total disability means disability that results in the inability of an employee to earn wages as a result of a compensable injury for which disability benefits may not exceed a cumulative total of one hundred four weeks or the date the employee reaches maximum medical improvement or maximum medical recovery, whichever occurs first.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;

  • First Option has that meaning set out in Section 3.1 (a);

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.

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

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

  • Loan Commencement Date means, with respect to each Loan, the first Business Day of the calendar month following the Funding Date of such Loan.

  • Second Extension Period means the period commencing on the day following the First Extended Scheduled Maturity Date and ending on the Second Extended Scheduled Maturity Date.

  • Commencement Date or Handover Date means the date on which the Licensed Space of first lot of stations as per Annexure 1 is handed over by DMRC to the Selected Bidder, in accordance with the terms of this agreement.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Top-Up Option has the meaning set forth in Section 1.04(a).