Optional Benefit Form definition

Optional Benefit Form means any form of benefit available under the Plan, other than the Normal Benefit Form.
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Examples of Optional Benefit Form in a sentence

  • If an Optional Benefit Form provides benefits to a Beneficiary, election of the Optional Benefit Form shall not be effective unless the Beneficiary is alive on the date of the Participant's Retirement.

  • The Normal Retirement Benefit shall be paid to the Executive in 180 substantially equal monthly payments unless the Executive requests and the Committee approves an Optional Benefit Form in accordance with Section 2.03 hereof.

  • Instead of receiving a benefit in the Normal Benefit Form, a Participant may elect to receive payments in an Optional Benefit Form.

  • The purchase price consisted of 70,000,000 Common Shares of which 1,650,683 Common Shares were issued to pay broker fees, $38,624,575 cash and $8,875,425 debt via a vendor-takeback note due in 12 months.

  • If a Participant terminates employment with the Bank after attaining age 65, on the first working day of the next calendar month the Bank shall commence paying the Participant a benefit in the Normal Benefit Form or the Equivalent in an Optional Benefit Form (see Section 3.8).

  • If you want to take advantage of this offer, please return this Optional Benefit Form with your completed membership form.

  • If a Participant terminates employment with the Bank after attaining age 55 and after completing 25 Years of Service, the sum of the number of such Years of Service and the Participant's age is at least 80, on the first working day of the next calendar month the Bank shall commence paying the Participant a benefit in the Normal Benefit Form in the amount determined under Section 3.1, or the Equivalent of that amount if the Participant's benefit is payable in an Optional Benefit Form (see Section 3.8).

  • Such appeals rely upon commonplace beliefs (Taylor, 1992; Craig, 1999) about what communication is, does, and requires.

  • A Participant's benefit shall be subject to the following offsets (each to be expressed as an Equivalent amount commencing at the Participant's Normal Retirement Age in an Optional Benefit Form).

  • Subject to Section 6.1, instead of receiving a benefit in the Normal Benefit Form, a Participant may elect to receive payments in an Optional Benefit Form.

Related to Optional Benefit Form

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • 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.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

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

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

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

  • Single Life Annuity means an annuity payable for the life of a Participant.

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

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of a Participant, with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse, and which is the amount of benefit that can be purchased with the Participant's Vested Account Balance. The percentage of the survivor annuity under the Plan shall be 50%.

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

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

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

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Lifetime Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder cumulatively since the inception of these Terms and Benefits, irrespective whether any limits of any benefit items stated in the Benefit Schedule have been reached or whether the Annual Benefit Limit in a Policy Year has been reached.

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

  • 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;

  • Variable Annuity An Annuity with payments that vary with the net investment results of one or more Funds under the Separate Account.

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

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Actuarial equivalent means a benefit of equal value when

  • 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.