Early Retirement Total Benefit definition

Early Retirement Total Benefit means a Normal Retirement Total Benefit reducing the 65% in the formula in Section 3.l(q) at the rate of one percentage point for each full and one percentage point for each fraction of a year that, on the Participants Early Retirement Date, such Participant’s age is less than sixty-five (65) years (i.e., 60% at age 60, 55% at age 55).
Sample 1
Early Retirement Total Benefit means a Normal Retirement Total Benefit reduced at the rate of one percentage point for each full and fraction of a year that, on the effective date of commencement of benefits, such Participant's age is less than sixty-five (65) years (i.e., 60% at age 60, 55% at age 55).
Sample 1

Related to Early Retirement Total Benefit

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

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

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

  • Early Retirement means retirement, with consent of the Committee at the time of retirement, from active employment with the Company and any Subsidiary or Parent Corporation of the Company.

  • 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.

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

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

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

  • Retirement Age means the earlier to occur of:

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

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

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

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

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

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

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • 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).

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

  • Special benefit means a particular and distinct benefit over and above general benefits conferred on real property located in the district or to the public at large. General enhancement of property value does not constitute “special benefit.”

  • 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.

  • 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.

  • Disability retirement for plan 1 members, means the period

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;