Part B Retirement Benefit definition

Part B Retirement Benefit means the applicable lump sum benefit described in Article IV.
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Part B Retirement Benefit means the applicable lump sum benefit described in Article IV. “Pension Plan” means the Pension Plan for All Eligible Employees of Crane Co., as effective
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Examples of Part B Retirement Benefit in a sentence

  • The Participant’s reemployment with the Company following distribution of the Participant’s Part B Retirement Benefit hereunder shall have no effect on payment of the Participant’s Part B Retirement Benefit.

  • The applicable Part B Retirement Benefit shall be paid in a single lump sum cash payment.

  • For the Plan Year beginning on January 1, 2013, each Participant who is eligible under Schedule B to participate in the Part B Retirement Benefit program shall be entitled to a benefit credit under the Participant’s Part B Retirement Account equal to 2% of the Participant’s Excess Compensation for such Plan Year.

  • For Plan Years beginning after December 31, 2013, each Participant who is eligible under Schedule B to participate in the Part B Retirement Benefit program for such Plan Year shall be entitled to a benefit credit under the Participant’s Part B Retirement Account equal to three percent (3%) of the Participant’s Excess Compensation for such Plan Year.

  • The Participants in the Plan shall consist of the individuals eligible to receive a Part A Retirement Benefit, as set forth on the attached Schedule A, and individuals eligible to receive a Part B Retirement Benefit, as set forth on the attached Schedule B.

  • For Plan Years beginning after December 31, 2013, each Participant who is eligible under Section 2.1 to participate in the Part B Retirement Benefit program for such Plan Year shall be entitled to a benefit credit under the Participant’s Part B Retirement Account equal to three percent (3%) of the Participant's Excess Compensation for such Plan Year.(c)Allocation of Benefit Credits.

  • In addition, Participants who previously accrued a Part B Retirement Benefit, but no longer are eligible to participate under this Section 2.1, shall continue to be eligible for Interest Credits under Section 4.4 below.(d)Notice of Participation.

  • For the Plan Year beginning on January 1, 2013, each Participant who is eligible under Section 2.1 to participate in the Part B Retirement Benefit program shall be entitled to a benefit credit under the Participant’s Part B Retirement Account equal to two percent (2%) of the Participant's Excess Compensation for such Plan Year.(b)Subsequent Plan Years.

Related to Part B Retirement Benefit

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

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

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

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

  • 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;

  • 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.

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

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

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

  • 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.

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

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

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

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

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

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • 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).

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

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

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

  • Retirement Age means the earlier to occur of:

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

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

  • Actuarial equivalent means a benefit of equal value when

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • 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.