Minimum Guaranteed Benefit definition

Minimum Guaranteed Benefit means the minimum benefit which is required by the Relevant Law or a Prescribed Agreement or Award to be paid to, or in respect of, a Member.
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Examples of Minimum Guaranteed Benefit in a sentence

  • The amount of the Minimum Guaranteed Benefit, payable at the Member's Postponed Retirement Date will be an amount calculated as at the Member's Normal Retirement Date in accordance with Section 7.01(b), but based on Earnings, Pensionable Service and Year's Maximum Earnings at the Member's Postponed Retirement Date.

  • The amount of supplementary pension required to provide the Member with the Minimum Guaranteed Benefit for that year, if any, will be payable from the Minimum Guarantee Fund in accordance with Sections 7.01(b), 7.02(b) or 7.03(b), as appropriate.

  • The amount of the Minimum Guaranteed Benefit, payable at the Member's Early Retirement Date will be an amount calculated as at the Member's Normal Retirement Date in accordance with Section 7.01(b), but based on Earnings, Pensionable Service and Year's Maximum Earnings at the Member's Early Retirement Date.

Related to Minimum Guaranteed Benefit

  • Maximum Guaranteed Amount means as of the date of determination with respect to a Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render such Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

  • Guaranteed Pension Plan means any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.

  • Accrued Benefit have the meanings specified in ERISA.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • a guaranteed income payment means a payment made under article 15(1)(c) (injury benefits) or 29(1)(a) (death benefits) of the Armed Forces and Reserve Forces (Compensation Scheme) Order 2011;