Deemed Retirement Benefit definition

Deemed Retirement Benefit means the aggregate benefits that would be payable to the Executive under the Hecla Mining Company Qualified Retirement Plan and/or any successor defined benefit plan (the “Retirement Plan”) and any supplemental and/or excess retirement plans in which the Executive participates (the “SERP”), assuming that (i) the Executive’s age as of the Date of Termination were increased by three years for purposes of calculating the pension reduction but not for purposes of determining covered compensation (as those terms are defined in the Retirement Plan), (ii) the Executive’s average annual earnings were calculated by assuming that the Executive had continued to receive the compensation required by Section 4(b) of this Agreement for three years, (iii) the Executive’s years of service were increased by three years, and (iv) the Executive’s benefits under the Retirement Plan and the SERP were fully vested.
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Related to Deemed Retirement Benefit

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

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

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

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

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

  • 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.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • 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;

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

  • Disability Benefit means the benefit set forth in Article 8.

  • Retirement Age means the earlier to occur of:

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

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

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

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

  • Normal Retirement Age means the Executive's 65th birthday.

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

  • Severance from Service Date means the earlier of:

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

  • 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.

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