Grandfathered Retirement Fund Benefit definition

Grandfathered Retirement Fund Benefit means the benefit described in Section 3.01(a).
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Grandfathered Retirement Fund Benefit means the present value as of December 31, 2004 of the amount to which the Participant would be entitled under Article III of this Plan if the Participant voluntarily terminated services without cause on
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Examples of Grandfathered Retirement Fund Benefit in a sentence

  • If a Participant is restored to employment with the FHLBank after payment of his Grandfathered Retirement Fund Benefit has commenced, all payments of Grandfathered Retirement Fund Benefits shall thereupon be discontinued.

  • If a Participant who had elected an optional form of payment under this Section 3.03(a) dies before the Participant Separates From Service, the Participant’s election of an optional form of Grandfathered Retirement Fund Benefit shall be inoperative and the death benefit described in Section 3.04(a)(i) shall be payable to the Participant’s Beneficiary.

  • An election of an optional form of payment under this Section 3.03(a) may be made only on a form and in the manner prescribed by the Committee, and must be made no later than the end of the calendar year immediately preceding the year in which the Participant Separates From Service, at least one hundred eighty (180) days prior to the date the Participant Separates From Service, and prior to the date when the payment of the Participant’s Grandfathered Retirement Fund Benefit are due to commence.

  • A Participant may, with the consent of the Committee, elect in writing to have the Grandfathered Retirement Fund Benefit, if any, payable to or on account of a Participant under Section 3.02 above converted by the Actuary to any optional form of payment permitted under the Retirement Fund on October 3, 2004.

  • If a Participant who had elected an optional form of payment under this Section 3.03(a) dies after the date the Participant Separates From Service, the only death benefit, if any, payable under the Plan in respect of said Participant and attributable to the Grandfathered Retirement Fund Benefit shall be the amount, if any, payable under the optional form of payment which the Participant had elected under the Plan.

  • Unless the Participant elects an optional form of payment under the Plan pursuant to Section 3.03 below, the Grandfathered Retirement Fund Benefit and/or Non-Grandfathered Retirement Fund Benefit, as applicable, payable to or on account of a Participant under Section 3.01 above, shall be payable to or on account of the Participant in the “Regular Form” of payment, utilizing for that purpose the actuarial factors described in Section 3.03(b)(iv), below.

  • In the Participant’s subsequent Retirement or other termination of employment with the FHLBank, his Grandfathered Retirement Fund Benefit shall be recomputed in accordance with Sections 3.01 and 3.02 and shall be paid to such Participant in accordance with the provisions of the Plan.

  • The Beneficiary of any Participant first hired on or after January 1, 2006, shall be paid an active service death benefit equal to the Participant’s benefit calculated under Section 3.01(b), above.(ii) Payment of Grandfathered Retirement Fund Benefit Upon Death After Separation From Service.

  • Unless the Participant elects an optional form of payment under the Plan pursuant to Section 3.03 below, the Grandfathered Retirement Fund Benefit and/or Non-Grandfathered Retirement Fund Benefit, as applicable, payable to or on account of a Participant under Section 3.01 above, shall be payable to or on account of the Participant in the "Regular Form" of payment, utilizing for that purpose the actuarial factors described in Section 3.03(b)(iv), below.

  • In the Participant's subsequent Retirement or other termination of employment with the FHLBank, his Grandfathered Retirement Fund Benefit shall be recomputed in accordance with Sections 3.01 and 3.02 and shall be paid to such Participant in accordance with the provisions of the Plan.

Related to Grandfathered Retirement Fund Benefit

  • 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.

  • 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.

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

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

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

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

  • Retirement fund means the "Washington law enforcement

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

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

  • 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.

  • 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)).

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Disability retirement for plan 1 members, means the period

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

  • Grandfathered Service means service which is no longer available for new customers and is limited to the current customer at their current locations with certain provisioning limitations, including but not limited to upgrade denials, feature adds/changes and responsible/billing party.

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

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

  • 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;

  • Grandfathered Amounts means, if applicable, the amounts that were deferred under the Plan and were earned and vested within the meaning of Section 409A of the Code and regulations thereunder as of December 31, 2004. Grandfathered Amounts shall be subject to the terms designated in the Adoption Agreement.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Severance from Service Date means the earlier of:

  • 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.

  • 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.

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

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • 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).