Non-commutable definition

Non-commutable means that it cannot be converted back into a lump sum (except in limited circumstances). Please refer to page 8 for further details.
Non-commutable means that in general this pension cannot be converted into a lump sum and must be taken as a series of periodic payments.
Non-commutable. , which means you can’t make a lump sum cash withdrawal until you reach 65 or meet another condition of release.

Related to Non-commutable

  • Accidental death and dismemberment insurance or "AD&D" means basic accidental death and dismemberment (AD&D) insurance paid for by the employing agency, as well as supplemental accidental death and dismemberment insurance offered to and paid for by employees for them- selves and their dependents.

  • Severance Agreement means the Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

  • Breath Alcohol Technician (BAT) means an individual who instructs and assists individuals in the alcohol testing process and who operates the EBT.

  • Exempt employee means an at will employee who serves at the discretion of the appointing authority in a position that is exempted by State law, the City Charter or SMC 4.13 from compliance with the provisions of the Personnel Rules or SMC Title 4 related to selection, discipline, termination or appeals of personnel actions to the Civil Service Commission.

  • Accidental release means any sudden or nonsudden release of petroleum that was neither expected nor intended by the owner or operator of the applicable UST system and that results in the need for corrective action or compensation for bodily injury or property damage.