Deferred Pension definition

Deferred Pension means the amount of a participant's Accrued Pension that such participant has elected to defer until a later year pursuant to an election under Section 3.1.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Deferred Pension means a pension for which an eligible member of the system has made application and which is payable as provided in division (A) or (B) of section 5505.16 of the Revised Code.

Deferred Pension means a deferred benefit that is in payment;

Examples of Deferred Pension in a sentence

• Nothing contained in this Agreement shall be construed or interpreted or is intended as a waiver of or limitation on any rights, powers, privileges or remedies that any Fund has or may have under its respective participation agreement(s) or under applicable law with respect to any contributions or other obligations of any of the Obligors to such Fund, other than the Deferred Pension Payments and any other Obligations.

• Based on the Projections, as of the Effective Date, the Obligors do not expect to be able to repay the Deferred Pension Payments or the Deferred Interest on a date earlier than is required by this Agreement.

• Promptly following reasonable request from a Fund, the applicable Primary Obligors shall provide such Fund a Promissory Note(s) with respect to the Deferred Pension Payments and Deferred Interest owed by such Primary Obligor to such Fund.

• Amounts paid pursuant to clause (i) above may be paid to and applied against the electing Fund’s Deferred Pension Payments and/or Deferred Interest on a non-pro rata basis.

• Each Primary Obligor is unable to make payment of any portion of the Deferred Pension Payments or Deferred Interest set forth on Schedule 2.01 as of the Effective Date, other than any payment made pursuant to Section 2.05.

More Definitions of Deferred Pension

Deferred Pension means a pension benefit, payment of which is deferred until the beneficiary reaches normal retirement age under the pension plan;

Deferred Pension means a pension payable under this Plan to a former employee commencing on the day following his/her normal retirement date;

Deferred Pension means the pension benefits, calculated in accordance with the terms of Article 6, to which a Participant becomes entitled as a result of credited service while a Participant of the Plan.

Deferred Pension means the pension payable in accordance with Rule 22(b) of the Old Consolidated Trust Deed and Rules or Rule 53;

Deferred Pension means a pension benefit to which a participant has a vested right upon termination of employment prior to pension age but which is postponed until pension age.

Deferred Pension means a Pension, payment of which is deferred until the Pension becomes payable in accordance with the provisions of Section 8.03. The Bridging Benefit is excluded from this definition.

Deferred Pension means a pension benefit, payment of which is deferred until the person entitled to the pension benefit reaches the normal retirement date under the pension plan; (“pension différée”)