GTE Service Benefit definition

GTE Service Benefit means a Contel Participant's accrued benefit determined under the Southeast Plan's benefit formula and based on the Contel Participant's GTE Service and GTE Compensation.
Sample 1

Examples of GTE Service Benefit in a sentence

  • A GTE Service Benefit shall be determined only with respect to any non-cash balance formula that may apply to the Contel Participant under the Plan and only for so long as such formula applies to such participant (e.g., for a Contel Participant who is not a Transition-Eligible Employee, there is no accrual under a non-cash balance formula after May 31, 2004 and, therefore, no accrual after May 31, 2004 for the GTE Service Benefit).

Related to GTE Service Benefit

  • Service benefit means the credit toward retirement benefits as determined by the

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • 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;

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

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

  • 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.

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

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

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

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

  • 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 Eligibility with respect to this Award means a Participant attaining age sixty (60) and completing five (5) Full Years of Continuous Service with the Employer; and

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • 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.

  • 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.

  • 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.