Lump Sum Retirement Benefit definition

Lump Sum Retirement Benefit means the total value of all retirement benefits payable in any form other than non-commutable pension under this and any Associated Scheme.
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Lump Sum Retirement Benefit means, in relation to a Member, the total value of all retirement benefits payable in any form other than non-commutable pension under this Scheme and any Associated Scheme;
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Lump Sum Retirement Benefit the total value of all retirement benefits payable in any form other than non-commutable pension under this and any Associated Scheme; “Pensionable Service” shall have the meaning ascribed to it by paragraph 3 Schedule 16 Social Security Xxx 0000; “Permitted Maximum” shall have the meaning ascribed to it by s590C(2) of the Act; “Relevant Date” the date of retirement leaving Pensionable Service or death as the case may be; “Relevant Scheme” any other scheme approved or seeking approval under Chapter I Part XIV of the Act;
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Examples of Lump Sum Retirement Benefit in a sentence

  • For the purpose of calculating the Aggregate Retirement Benefit or the total retirement benefit in (a) to (d) above, the pension equivalent of any Lump Sum Retirement Benefit is one twelfth of its total cash value.

  • No lump sum may be paid to the Ex-Spouse Participant where the Member (who was formerly married to the Ex-Spouse Participant) has already received a Lump Sum Retirement Benefit from the Scheme before the date of the implementation by the Scheme of the Pension Sharing Order, agreement or equivalent provision.

  • In September 2005, it was agreed that Mr Dighton should be granted an Unfunded Lump Sum Retirement Benefit (ULSRB) to be calculated as the accumulation of notional contributions of 30% of his base salary in excess of the earnings cap, deemed to be invested in the FTSE All Share Total Return Index.

  • Any lump sum payment made pursuant to this Section 6.2 shall include amounts credited as investment earnings with respect to the Lump Sum Retirement Benefit for the period from May 1, 1999 until April 30, 2000.

  • Notwithstanding anything herein to the contrary, no portion of a Director’s Lump Sum Retirement Benefit may be paid prior to May 1, 2000.

  • The Lump Sum Retirement Benefit and the Lump Sum Death Benefit for each Director shall be credited to that Director’s Account as of May 1, 1999.

  • Subject to Section 5.7, a Director may also elect to receive the Lump Sum Death Benefit and the Lump Sum Retirement Benefit in a single lump sum payable on or about May 1, 2000, so long as prior to May 1, 1999, the Director makes an irrevocable written election to receive the lump sum payment.

  • Subject to the provisions of Section 3.1 above, the Director’s investment selections for deferred Director’s Fees shall be the investment selection for a Director’s Lump Sum Retirement Benefit and Lump Sum Death Benefit and as of the last day of each month, a Director’s Account shall be credited to reflect investment earnings (or loss) for the month, based on the Director’s investment selections under Section 4.2. 6.2 Payment of Lump Sum Benefits.

  • The Lump Sum Retirement Benefit and the Lump Sum Death Benefit shall be distributed as part of a Director’s Deferred Compensation in accordance with Article V.

  • Lump Sum Retirement Benefit means the value of the benefit earned under the Lockheed Martin Corporation Directors Retirement Plan as determined upon termination of that plan effective May 1, 1999.


More Definitions of Lump Sum Retirement Benefit

Lump Sum Retirement Benefit means the total value of all retirement benefits payable in any form other than non-commutable pension under this and any Associated Scheme, plus in the case of an Excepted Director who is a Class A Member any benefits of either a retirement annuity contract approved under Chapter III Part XIV of the Act or a personal pension scheme approved under Chapter IV of that Part insofar as those benefits are secured respect of Service with the Employer or an associated employer.
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Lump Sum Retirement Benefit means the total value of all retirement benefits payable in any form other than pension under this and any Associated Schemes.
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Lump Sum Retirement Benefit means the total value of all retirement benefits payable in a form other than non-commutable pension under this and any Associated Scheme otherwise than on death.
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Lump Sum Retirement Benefit means the total value of all benefits payable in any form other than non-commutable pension under the Scheme and any Associated Scheme.
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Lump Sum Retirement Benefit means the total value of all retirement benefits payable in any form other than non-commutable pension arising from the Scheme and any Associated Scheme. For a Special Director who is a 1989 Member, Lump Sum Retirement Benefit also includes any benefits from either a retirement annuity contract approved under Chapter III of Part XIV of the 1988 Act or a personal pension scheme approved under Chapter IV of Part XIV of the 1988 Act insofar as those benefits are secured in respect of Service.
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Related to Lump Sum 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.

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

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

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

  • 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;

  • 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.

  • 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.

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

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

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

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

  • 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.

  • Actuarial equivalent means a benefit of equal value when

  • 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).

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • 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.

  • Retirement Age means the earlier to occur of:

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

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

  • 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.

  • Annuity Benefit means a benefit payable by us as described in Part VII.