Normal Retirement SERP Benefit definition

Normal Retirement SERP Benefit means the SERP Benefit spayable pursuant to Section 3(a)(i) hereof.
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Examples of Normal Retirement SERP Benefit in a sentence

  • This Pre-Retirement Death Benefit shall be distributed to Participant’s Beneficiary(ies): (1) in a lump sum amount as soon as administratively feasible upon Employer notification; or (2) through monthly installments equal to one-twelfth of the Normal Retirement SERP Benefit each year for a total of fifteen (15) years.

  • The use of generic infrastructure is always perceived by its end users as a task-oriented, and thereby domain-specific, function.

  • In no circumstances will the sum of (1) the Pre-Retirement Death Benefit payable under this Section 8(h) plus (2) the death benefit payable to the beneficiary(ies) designated by the Participant for purposes of any Employer owned life insurance covering the life of the Participant (disregarding any group term life insurance) exceed (3) the Participant's Normal Retirement SERP Benefit earned to date of death under Section 8(a).

  • Furthermore, in addition to the benefit offset as provided for in 8(c) above, an amount equal to any Employer provided disability insurance payment will offset, dollar-for-dollar, the amount of Participant's Normal Retirement SERP Benefit received pursuant to a Disability termination.

  • The Normal Retirement SERP Benefit shall be that amount, as provided for in the Participant’s Participation Agreement, which shall be distributed to the Participant, in the appropriate distribution form, upon Normal Retirement or Disability.

  • A JT-2 can be one of three different voucher types: a journal advice, a non-operating transfer or an expenditure refund.

  • The Participant’s Accrued SERP Benefit shall be based on the number of Years of Service provided by Participant and the targeted Years of Service for a Normal Retirement SERP Benefit.

  • The Normal Retirement SERP Benefit for the Participant shall be $[Wxxxxxx Xxxxx - $104,015, Dxxxxx Xxxxxxx - $108,261, Pxxxx Xxxxx - $72,263].

  • Upon termination of a Participant’s employment with the Employer by reason of Disability, the Participant shall become entitled to receive his Normal Retirement SERP Benefit pursuant to the applicable provisions of the Participant’s Participation Agreement.

  • Further details about the PgCert TSL in HE and its first module are available on the staff intranet, including how many practice hours are required for students accessing the PgCert as a whole.

Related to Normal Retirement SERP Benefit

  • Normal Retirement Benefit means the benefit described in Section 2.1.

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

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

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

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

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

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

  • 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.

  • 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;

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

  • Disability retirement for plan 1 members, means the period

  • Disability Benefit means the benefit set forth in Article 8.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

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

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

  • Retirement Age means the earlier to occur of:

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

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

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

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • 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)).

  • Disability benefit recipient means a member who is receiving a disability benefit.

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

  • 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.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.