Drop benefit definition

Drop benefit means, for a participant, an amount credited to the participant’s account each applicable month equal to the member’s applicable percentage multiplied by the member’s participant retirement amount.

Drop benefit means the benefit calculated for a DROP participant in accordance with the provisions of section 742.442 of the Revised Code and rule 742-4-06 of the Administrative Code, but subject to the provisions of division (C) of section 742.442 and section 742.445 of the Revised Code.

Drop benefit means the lump-sum benefit calculated and distributed as provided in this part.

Examples of Drop benefit in a sentence

• While the nomenclature used in the Pension Statute resembles that of an arrangement requiring additional disclosures under GASB 67, the COAERS Backward Drop benefit is technically different.x The lump-sum death benefit payable upon the death of a retiree is $10,000.x There is no guaranteed cost of living increase.Contributions.

• While the nomenclature used in the Pension Statute resembles that of an arrangement requiring additional disclosures under GASB 67, the COAERS Backward Drop benefit is technically different.• The lump-sum death benefit payable upon the death of a retiree is $10,000.• There is no guaranteed cost of living increase.

• While the nomenclature used in the Pension Statute resembles that of an arrangement requiring additional disclosures under GASB 67, the COAERS Backward Drop benefit is technically different.• The lump−sum death benefit payable upon the death of a retiree is $10,000.• There is no guaranteed cost of living increase.

• While the nomenclature used in the Pension Statute resembles that of an arrangement requiring additional disclosures under GASB 67, the COAERS Backward Drop benefit is technically different.• The lump-sum death benefit payable upon the death of a retiree is $10,000.• There is no guaranteed cost of living increase.Contributions.

More Definitions of Drop benefit

Drop benefit means, for a participant, an amount credited to the participant's account each applicable month equal to the member's applicable percentage multiplied by the member's participant retirement amount.

Drop benefit means a DROP participant's total DROP account balance at the time the DROP participant terminates employment.

Drop benefit means the lump-sum benefit calculated and distributed as provided in [sections 5through 12].

Drop benefit means the lump-sum benefit calculated and distributed as provided in this part. (3)(4) "DROP period" means the period of time that a member irrevocably elects to participate in the