Examples of Normal Retirement Pension Benefit in a sentence
Except as provided in this Section 3.1, under no circumstances will a Participant or a former Participant be entitled to a Benefit under this Plan unless Participant becomes Vested in his Normal Retirement Pension Benefit.
The eligible Participant's normal retirement benefit shall be a monthly amount equal to his Target Normal Retirement Benefit reduced by the sum of (1) his Assumed Normal Retirement Pension Benefit and (2) his Social Security Benefit.
A Progress Nonqualified Plan Participant who incurs a Separation from Service on or after his Progress Normal Retirement Date shall be eligible for the normal retirement benefit, which is a monthly amount equal to his Target Normal Retirement Benefit reduced by the sum of (a) his Assumed Normal Retirement Pension Benefit and (b) his Social Security Benefit.
An Employee who is eligible for a Normal Retirement Pension Benefit under the Borough’s pension Plan is eligible to be a DROP Participant by filing a written application with the Somerset Borough Retirement Plan Administrator at least thirty (30) days prior to the Employee’s effective date of retirement.
A “designated Participant” for purposes of this Section 5 is a Participant who has met the qualifications to receive a Normal Retirement Pension Benefit under Section 3 or an Early Retirement Pension Benefit under Section 4, but has not elected to begin receiving his Pension Benefit or has not yet had a Severance.
The eligible Participant’s normal retirement benefit shall be a monthly amount equal to his Target Normal Retirement Benefit reduced by the sum of (1) his Assumed Normal Retirement Pension Benefit and (2) his Social Security Benefit.
The eligible Participant's normal retirement benefit shall be a monthly amount equal to his Target NormalRetirement Benefit reduced by the sum of (1) his Assumed Normal Retirement Pension Benefit and (2) his Social Security Benefit.
The Normal Retirement Pension Benefit shall be paid during the life of the Participant and for a period of one hundred twenty (120) months certain and continuous from the first day of the month following the Participant’s Normal Retirement Date.
In the event of the Participant’s death within a period of one hundred twenty (120) months after his Normal Retirement Date, the same Normal Retirement Pension Benefit shall be payable for the remainder of the one hundred twenty (120) month period to the Participant’s Beneficiary.
Normal Retirement Pension Benefit and Postponed Retirement Pension BenefitAs a member of the Plan, you will have a nonforfeitable right to your Cash Balance Account upon attaining your Normal Retirement Age (discussed on page 7).