Form of Retirement Benefit definition

Form of Retirement Benefit means, with respect to an Executive, the Post-Retirement Death Benefit, the Lump Sum Benefit or the Salary Continuation Benefit as set forth in Section 6(c).
Sample 1Sample 2Sample 3

Examples of Form of Retirement Benefit in a sentence

  • The President shall be the chief executive officer of the corporation, subject to the limitations set forth in these bylaws, and subject to any Board policy directive established to govern the day-to-day activities of the Corporation.

  • If the Executive elects to receive the Post-Retirement Death Benefit as the Form of Retirement Benefit, the Executive shall receive continued coverage under the Plan (but not the Policy) after his or her Retirement.

  • Prior to the commencement of payment of a Retirement Benefit, a Participant may file an election designating a payment form other than the Normal Form of Retirement Benefit.

  • The Normal Form of Retirement Benefit payments hereunder shall be the Life Annuity.

  • The Normal Form of Retirement Benefit shall be a single life annuity for a Participant who is unmarried at the time that payment of the Retirement Benefit commences.

  • A Form of Retirement Benefit selected in the event of Normal Retirement may be the same as or different than the Form of Retirement Benefit selected in the event of an Approved Early Retirement.

  • If a Participant is married at the time that payment of the Retirement Benefit commences, the Normal Form of Retirement Benefit shall be a joint and survivor annuity (which shall be the Actuarial Equivalent of a single life annuity) for the benefit of the Participant's spouse as of the date that payment of the Retirement Benefit commences.

  • If a Contingent Annuitant dies before the Participant's actual retirement date, the Normal Form of Retirement Benefit will automatically become payable as if a Contingent Annuitant Option had not been elected.

  • In lieu of the Normal Form of Retirement Benefit described in Section 9.1 above, a Participant may elect a Contingent Annuitant Option which provides for an actuarially reduced benefit payable to the Pensioner during his lifetime and for the continuance of such Retirement Benefit payments in either the same, 100%, 66 2/3% or 50% to a Contingent Annuitant, if living, after the Pensioner's death.

  • RETIREM EN T BEN EFITS(a) N ormal Form of Retirement Benefit (i ) M em bers not a at termi nati on ofThe normal form of Reti rement Benefit for M embers not havi ng a Spouse at terminati on of employment shall be monthly payments for the li fe of the M ember only, ceasi ng on the member's d eath.

Related to Form of Retirement Benefit

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

  • 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.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

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

  • 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;

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

  • 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.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

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

  • Disability Benefit means the benefit set forth in Article 8.

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

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

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

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

  • 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).

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

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

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

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

  • 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.

  • 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).

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Actuarial equivalent means a benefit of equal value when