Non-Grandfathered Retirement Fund Benefit definition

Non-Grandfathered Retirement Fund Benefit means the benefit described in Section 3.01(b).
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Non-Grandfathered Retirement Fund Benefit means any portion of the Participant’s benefit under Article III that is not part of the Grandfathered Retirement Fund Benefit, plus any earnings thereon.
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Examples of Non-Grandfathered Retirement Fund Benefit in a sentence

  • During the Special Election Period, a Participant may elect on the Non-Grandfathered Retirement Fund Benefit Distribution Election Form to receive payment of his or her Non-Grandfathered Retirement Fund Benefit in any of the optional forms of payment.

  • The Election Form applicable to the Non-Grandfathered Retirement Fund Benefit that was most recently accepted by the Committee and meeting the above criteria shall govern the payout of the Non-Grandfathered Retirement Fund Benefit.

  • Any election with respect to the payment of the Non-Grandfathered Retirement Fund Benefit that is made after the latter of the Special Election Period (described in 3.03(b)(iii)(A), above), or after the Initial Election Period (described in 3.03(b)(iii)(B), above), is subject to the following rules.

  • Unless the Participant elects an optional form of payment under the Plan pursuant to Section 3.03 below, the Grandfathered Retirement Fund Benefit and/or Non-Grandfathered Retirement Fund Benefit, as applicable, payable to or on account of a Participant under Section 3.01 above, shall be payable to or on account of the Participant in the “Regular Form” of payment, utilizing for that purpose the actuarial factors described in Section 3.03(b)(iv), below.

  • If a Participant who elected an optional form of payment under this Section 3.03(b) dies before the Participant Separates From Service, the Participant’s election of an optional form of Non-Grandfathered Retirement Fund Benefit shall be inoperative and the death benefit described below in Section 3.04(a)(i), if any, shall be payable to the Participant’s Beneficiary.

  • Unless the Participant elects an optional form of payment under the Plan pursuant to Section 3.03 below, the Grandfathered Retirement Fund Benefit and/or Non-Grandfathered Retirement Fund Benefit, as applicable, payable to or on account of a Participant under Section 3.01 above, shall be payable to or on account of the Participant in the "Regular Form" of payment, utilizing for that purpose the actuarial factors described in Section 3.03(b)(iv), below.

  • If a Participant who elected an optional form of payment under this Section 3.03(b) dies before the Participant Separates From Service, the Participant’s election of an optional form of Non-Grandfathered Retirement Fund Benefit shall be inoperative and the death benefit described below in Section 3.04(a)(i), if any, shall be payable to the Participant’s Beneficiary.(iii) Non-Grandfathered Retirement Fund Benefit Distribution Payment Elections.

Related to Non-Grandfathered Retirement Fund Benefit

  • 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.

  • 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.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

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

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

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

  • 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.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • 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.

  • Grandfathered Service means service which is no longer available for new customers and is limited to the current customer at their current locations with certain provisioning limitations, including but not limited to upgrade denials, feature adds/changes and responsible/billing party.

  • Disability retirement for plan 1 members, means the period

  • Retirement Benefit means the benefit set forth in Article 5.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Retirement fund means the "Washington law enforcement

  • 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)).

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

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

  • Severance from Service Date means the earlier of:

  • Grandfathered Amounts means, if applicable, the amounts that were deferred under the Plan and were earned and vested within the meaning of Section 409A of the Code and regulations thereunder as of December 31, 2004. Grandfathered Amounts shall be subject to the terms designated in the Adoption Agreement.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

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

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

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • 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;

  • Non-Key Employee means any Employee who is not a Key Employee.

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.