Is the LMAC Retirement Benefit actually payable under the LMAC Retirement Plan taking into account all years of credited service under such plan on and after the Effective Date and assuming that such benefits actually commence on the SIRP benefit commencement date.1.2 Form and Timing of Distribution.
Normal Retirement Benefit means the benefit described in Section 2.1.
Retirement Benefit means the benefit set forth in Article 5.
Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.
Early Retirement Benefit means the retirement benefit payable to a member following early
Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.
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;
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.
Plan Benefit means the benefit payable to a Participant as calculated in Article V.
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.
Disability Benefit means the benefit set forth in Article 8.
Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.
Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.
Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.
Change in Control Benefit means the benefit described in Section 2.4.
Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.
Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.
Normal Retirement Age means the Executive's 65th birthday.
Disability Retirement Date means the first day of the month following the last day of paid employment;
Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.
Retirement Age means the earlier to occur of:
Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.
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).
Disability retirement for plan 1 members, means the period
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).
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.