Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.
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.
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.
Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.
Termination Benefit means the benefit set forth in Article 7.
Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.
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.
Annuity Commencement Date means the first day of any month upon which an annuity begins under the Contract. However, for any Participant, this date shall not be later than the required beginning date as defined in the applicable sections of the Code and Regulations issued thereunder.
Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.
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).
Disability Benefit means the benefit set forth in Article 8.
Plan Benefit means the benefit payable to a Participant as calculated in Article V.
Benefits Continuation Period has the meaning set forth in Section 6.01(b).
Retirement Benefit means the benefit set forth in Article 5.
Normal Retirement Benefit means the benefit described in Section 2.1.
Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.
Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.
disability living allowance means a disability living allowance under section 71 of the SSCBA;
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.
Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).
Employment Commencement Date means the date on which the Employee first performs an Hour of Service.
Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.
Early Retirement Benefit means the retirement benefit payable to a member following early
Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:
Disability Retirement Date means the first day of the month following the last day of paid employment;