LMAC Retirement Plan definition

LMAC Retirement Plan means the Liberty Mutual Agency Corporation Retirement Benefit Plan as it may be amended from time to time, except as specifically noted to the contrary herein.
Sample 1

Examples of LMAC Retirement Plan in a sentence

  • If an entity ceases to be a Participating Employer under the LMAC Retirement Plan, it shall be assumed that it has withdrawn from participation in this Plan for purposes of this Section 6.2, unless the Company agrees in writing to permit the Participating Employer to continue its participation in this Plan.

  • A Participant may elect a change in the form of a payment before the Annuity Starting Date, from one type of annuity to another type of annuity under the LMAC Retirement Plan that is available at the same Annuity Starting Date, provided that the annuities are actuarially equivalent.

  • Such adjustment in age shall be made solely for purposes of applying the early retirement reduction factors set forth in the LMAC Retirement Plan, and shall not result in the allocation of additional years of credited service to a Participant under the LMAC Retirement Plan.

  • Appendix II describes the LMAC Retirement Plan related benefits of this Plan.

  • For avoidance of doubt, no amount shall be paid under this Plan to a Participant with respect to his or her years of credited service under the LMAC Retirement Plan while accruing benefits under Appendix II of the Liberty Mutual Agency Corporation Deferred Compensation Plan.

  • Actuarial equivalence for purposes of paragraphs (a) and (b) above shall have the same meaning as in Section 1.2(a)(1) of the LMAC Retirement Plan.

  • Recognize any deferrals made under Section 1.3(a) above that cannot be recognized under the LMAC Retirement Plan when calculating pension benefits or under TIP when calculating company matching contributions.

  • 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.

Related to LMAC Retirement Plan

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • 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.

  • 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.

  • Public employees retirement system means the retirement plan and program

  • 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)).

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • 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.

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

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Disability retirement for plan 1 members, means the period

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

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

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

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

  • Continuing care retirement community means a residential

  • Health benefits plan means a benefits plan which pays or

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

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

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

  • 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.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;