Examples of Deferred member in a sentence
Failing approval of the settlement in accordance with such Agreement by December 31, 2009, this Memorandum of Agreement and in particular Part I thereof, shall no longer be applicable to the CPNA and Xx Xxxxxxxxx nor to any Eligible Pensioner, Eligible Surviving Spouse, Eligible Child and Eligible Deferred Member (as such terms are defined in section 2 of this Memorandum of Agreement).
Where a Deferred Member is reactivated as Active their investment strategy for future regular payments shall be automatically re-set initially to the Plan’s default investment strategy.
If an Active Member or a Deferred Member dies, the Trustee shall hold on the Discretionary Trusts in Rule 9.4 an amount equal to the value of the Member’s Personal Retirement Account.
All amendments made by the Sponsor Board or, where applicable, the Sponsor Board Chair, are binding on the Administrative Board, the Participating Employers, and every Member, Deferred Member and Pensioner.
If the Deferred Member or Unrepresented Member has at least 20 years of Service Credit, the contribution will be an amount that, assuming the Member or Deferred Member retires at the average age of retirement assumed by the Retirement System’s actuary, and assuming an annual investment return of six percent, is projected to yield $8,500 annually during the Member’s life expectancy.