Deferred Compensation Benefit definition

Deferred Compensation Benefit means the annuitized value of the Director’s Elective Contribution Account, measured as of the Director’s Benefit Age, payable in monthly installments throughout the Payout Period and commencing on the Director’s Benefit Eligibility Date.

Deferred Compensation Benefit means Six Hundred Seventy-Six ($676.00) Dollars per month payable for a one hundred eighty (180) month period, such period to begin at Director’s Normal Retirement Date.

Deferred Compensation Benefit means the annuitized value (using the Interest Factor) of the Director's Elective Contribution Account, measured as of the Director's Benefit Age, payable in monthly installments throughout the Payout Period and commencing on the Director's Benefit Eligibility Date.

Examples of Deferred Compensation Benefit in a sentence

• The Accrued Benefit shall represent that portion of the Deferred Compensation Benefit which is required to be expensed and accrued under generally accepted accounting principles by any appropriate methodology which the Board of Directors may require in the exercise of its sole discretion.

• Any Deferred Compensation Benefit or Disability Benefit shall be actuarially adjusted to reflect such distribution.

• If the Director's service is terminated pursuant to this Subsection and Board of Director approval is obtained, the Director may elect to begin receiving the Disability Benefit in lieu of the Deferred Compensation Benefit, which is not available prior to the Director's Benefit Eligibility Date.

• If two or more persons designated as a Participant’s Beneficiary are in existence with respect to a single Deferred Compensation Benefit, the amount of any payment to the Beneficiary under this Plan shall be divided equally among such persons, unless the Participant’s designation specifically provided to the contrary.

• In the event Director continues in service beyond Normal Retirement Date, upon Director's death, he will be deemed to have commenced his Retirement Benefits (and therefore limited to a total of 120 monthly payments) even if Director has not elected to begin actual receipt of his Deferred Compensation Benefit as specified in Section 4.3.

More Definitions of Deferred Compensation Benefit

Deferred Compensation Benefit means that benefit which can be provided by annuitizing the Director's Retirement Account balance as of the Valuation Date immediately preceding the initial distribution date over a one hundred eighty (180) month period. A monthly interest factor of 1.075% shall be used to annuitize the account balance.

Deferred Compensation Benefit means the amount determined in accordance with the provisions of Article IV of this Plan.

Deferred Compensation Benefit means with respect to each Deferral Period the deferrals and any earnings thereon credited to the Participant's Deferred Compensation Account.

Deferred Compensation Benefit means the benefit of a Participant as determined under Article IV of this Plan.

Deferred Compensation Benefit means the benefit payable from the Director's Elective Contribution Account, commencing on his Benefit Eligibility Date and payable over the Payout Period.

Deferred Compensation Benefit means the annuitized value (using the Interest Factor) of the Executive’s Elective Contribution Account, measured as of the Executive’s Benefit Age, payable in monthly installments throughout the Payout Period and commencing on the Executive’s Benefit Eligibility Date.

Deferred Compensation Benefit means the annuitized value (using the Interest Factor) of the Trustee’s Elective Contribution Account, measured as of the Trustee’s Benefit Age, payable in monthly installments throughout the Payout Period and commencing on the Trustee’s Benefit Eligibility Date.