Normal Retirement Interest Yield definition

Normal Retirement Interest Yield means a rate of interest equal to 120 percent of Prime
Sample 1
Normal Retirement Interest Yield means a rate of interest equal to 120 percent of Prime. (b) "Early Retirement Interest Yield" means a rate of interest equal to 100 percent of Prime. This rate of interest shall be used only for crediting interest on amounts deferred in Deferral Years 1995 and 1996. (c) "Death Interest Yield" means a rate of interest equal to 120 percent of Prime. This rate of interest shall be fixed at the time of the Participant's death.
Sample 1

Examples of Normal Retirement Interest Yield in a sentence

  • Interest on the unpaid principal balance equal to the applicable Normal Retirement Interest Yield in the event of a benefit payable pursuant to Section 4.2 or 4.4 or the Death Interest Yield in the event of a benefit payable pursuant to Section 4.3 will be added to the Deferred Benefit Account on each Determination Date.

  • For Participants who elect to begin receiving their benefit payments immediately upon a Termination of Service, their Deferred Benefit Account shall be credited with interest utilizing the Normal Retirement Interest Yield or the Death Interest Yield in the event of a benefit payable pursuant to Section 4.3 until all benefits due from this Plan have been paid.

  • For Participants who elect to defer the receipt of benefits until a later date upon a Termination of Service, interest on the unpaid principal balance utilizing the Normal Retirement Interest Yield until the Termination of Service and the Early Retirement Interest Yield from the date of the Participant's Termination of Service until all benefits under the Plan have been paid will be added to the Participant's Deferred Benefit Account on each Determination Date.

  • The Deferred Benefit Account shall continue to be credited with interest on each Determination Date, utilizing the Normal Retirement Interest Yield or the Death Interest Yield in the event of a benefit payable pursuant to Section 4.3 until all benefits due from this Plan have been paid.

Related to Normal Retirement Interest Yield

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

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

  • 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.

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

  • Accrual Termination Date Not applicable.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

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

  • Termination Rate means a rate per annum equal to the arithmetic mean of the cost (without proof or evidence of any actual cost) to each party (as certified by such party) if it were to fund or of funding such amounts.

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • 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.

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

  • 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.

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • 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)).

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Early Termination Rate means the lesser of (i) 6.5% per annum, compounded annually, and (ii) LIBOR plus 100 basis points.

  • Interest Accrual Date means with respect to any Security, the date the Company accepts funds for the purchase of the Security if such funds are received by 3:00 p.m. (EDT) on a Business Day, or if such funds are not so received, on the next Business Day.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

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

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • 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.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.