Deferred Retirement Pension definition

Deferred Retirement Pension means a Pension earned by a Terminated Participant who was under the age of 60 at thetime of his Termination but who had completed at least 10 years, but fewer than 25 years, of Credited Service prior to his Termination.
Sample 1
Deferred Retirement Pension means a pension to which a Member becomes entitled in terms of Rule 5.2.3.1 or Rule 7.3.
Sample 1

Examples of Deferred Retirement Pension in a sentence

  • WHAT HAPPENS IF MY EMPLOYMENT TERMINATES BEFORE I AM VESTED?If you terminate employment with all covered Employers before you are vested (see Deferred Retirement Pension, p.

  • A Deferred Retirement Pension shall commence on the Member’s Deferred Retirement Date.

  • A Participant, who is eligible for a Normal, Early, Late or Deferred Retirement Pension, may elect to have his Pension payable under one of the optional forms of payment set forth below, which shall be of equivalent value to the Normal Form described in Section 6.1(a) above.

  • Such adjusted Pension payments shall be the Actuarial Equivalent of the Pension otherwise payable to such Participant, and the option may be elected in conjunction with the Early Retirement Pension or the Vested Deferred Retirement Pension payable on either a Life Annuity basis or as otherwise provided in Section 6.02, 6.04 or 6.05.

  • For this benefit to be payable, you will have to be otherwise eligible for a Normal, Early, Disability or Vested Deferred Retirement Pension at the time of your death and you will have to have been married at least one year.

  • Payment of a Vested Deferred Retirement Pension shall commence on the first day of the month coincident with or next following his sixty-fifth birthday.

  • Notwithstanding any other provisions of this Article 4, upon Termination other than as a result of his death, a Participant may elect to receive a refund of his Accumulated Contributions in lieu of a Service Retirement Pension or Deferred Retirement Pension, including minimum Pensions addressed in 4.5. Furthermore, if he elects to receive such refund, then no Survivor Pension shall be payable to his survivors.

  • Any person entitled to a Vested Deferred Retirement Pension under the Plan may, however, elect to receive his benefit commencing on the first day of any month coincident with or next following his fifty-fifth birthday, in an amount actuarially reduced based on the actuarial assumptions described in Section 2.

  • A former Participant eligible to receive a Vested Deferred Retirement Pension who is not entitled to coverage under Section 6.02, shall be deemed to have elected the surviving spouse benefit coverage described in this Section 6.04 for that portion of the period between his Termination Date and his Pension commencement date during which he has a spouse to whom he has been married for at least one year.

  • Any Eligible Employee who becomes a Participant in the Plan on or after January 1, 1989 shall be eligible to receive one hundred percent (100%) of his Vested Deferred Retirement Pension after completing five years of Continuous Service.

Related to Deferred Retirement Pension

  • 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.

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

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

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

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

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

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

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

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • 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.

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

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

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Disability retirement for plan 1 members, means the period

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

  • 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.

  • 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).

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

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • 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.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

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

  • Retirement Age means the earlier to occur of:

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;