Pension Eligibility Date definition

Pension Eligibility Date has the meaning set forth in Section 3.01(c)(i).
Sample 1Sample 2Sample 3
Pension Eligibility Date means Normal Retirement Date.
Sample 1
Pension Eligibility Date means the first day of the month following the month in which the Member attains age 62.
Sample 1

Examples of Pension Eligibility Date in a sentence

  • From and after a Transferred Employee’s Pension Eligibility Date, such Transferred Employee shall not participate in or accrue any benefits under the Baxter SERP.

  • Without limiting the generality of the foregoing, Transferred Employees shall cease to be active participants in the Baxter Pension Plan effective as of the applicable Pension Eligibility Date.

  • Without limiting the generality of the foregoing, each Transferred Employee shall cease to participate in the Baxter SERP effective as of the applicable Pension Eligibility Date, except as otherwise provided in Section 3.03(c)(iii).

  • The Normal Retirement Date (or Pension Eligibility Date) is the first day of the month after your 65th birthday.

  • How much will my Pension be reduced if I do not qualify for the “Rule of 90” and decide to retire before my Pension Eligibility Date (i.e., before I turn 62)?If you are at least age 50 and you have at least 10 years of service with the Union and at least five years of Participating Service in the Plan, you may retire with a Pension that is reduced by a maximum of 1/2% for each month (6% per year) that you retire before you reach age 62.

  • For example, if you defer retirement and continue working for 36 months beyond your Service Pension Eligibility Date, the total DRI benefit is divided by 36 and is payable for 36 months.

  • Please keep in mind that although your monthly DRI benefit will generally increase with each month that you work past your Service Pension Eligibility Date, your total DRI Benefit (the total of all monthly DRI payments)will begin to decrease at a certain point because you will receive your monthly DRI benefit over a fewer number of months as you approach your unreduced Social Security retirement age.

  • For purposes of determining the Delayed Retirement Incentive, the ―Service Pension Eligibility Date‖ will be the later of your actual Service Pension Eligibility Date and July 1, 2008.

  • Amount and Number of Monthly Payments: In general, the number of months you will receive a Delayed Retirement Incentive benefit will equal the number of months you defer retirement past your Service Pension Eligibility Date.

Related to Pension Eligibility Date

  • Eligibility Date means the date you become eligible for insurance under this plan. The Eligibility Requirements are shown in the Schedule of Benefits.

  • Disability Date means the date on which a Participant is deemed disabled under the employee benefit plans of the Corporation applicable to the Participant.

  • Eligibility Waiting Period means the continuous length of time you must be in Active Employment in an eligible class to reach your Eligibility Date.

  • Retirement Eligibility means attainment of age 60 and completion of at least five (5) years of continuous service with the Company.

  • 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.

  • Eligibility Computation Period means a 12-consecutive month period beginning with your first day of employment. Any succeeding Eligibility Computation Period will then switch to the Plan Year, beginning with the Plan Year that includes your first anniversary of employment. You will generally earn an hour of service for each hour you are paid for the performance of duties for the Company (however, numerous exceptions and special rules apply).

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

  • Election Date has the meaning specified in Section 3.12(h).

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

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

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Optional Termination Date Any Distribution Date on or after which the Stated Principal Balance (after giving effect to distributions to be made on such Distribution Date) of the Mortgage Loans is less than 10.00% of the Cut-off Date Balance.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Starting Date means the date referred to in Clause 3.3 hereof;

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Waiver eligibility span means the twelve-month period following either an individual's initial waiver enrollment date or a subsequent eligibility re- determination date.

  • Year of Eligibility Service means where an Employer designates a one or two 12-consecutive-month eligibility waiting period, an Employee must complete at least 1,000 Hours of Employment during each 12-consecutive-month period (measured from his date of Employment and then as of the first day of each Plan Year commencing after such date of Employment); provided, however, if an Employee is credited with 1,000 Hours of Employment in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's employment commencement date, the Employee will be credited, for eligibility purposes, with two Years of Eligibility Service. Where an Employer designates an eligibility waiting period of less than 12 months, an Employee must, for purposes of eligibility, complete a required number of hours (measured from his date of Employment and each anniversary thereafter) which is arrived at by multiplying the number of months in the eligibility waiting period requirement by 83 1/3; provided, however, if an Employee completes at least 1,000 Hours of Employment within the 12 month period commencing on his Employment commencement date or during any Plan Year commencing after such Employment commencement date, such Employee will be treated as satisfying the eligibility service requirements.

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

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

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • 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.