Preretirement Spouse definition

Preretirement Spouse s Benefit" means the benefit payable or paid under the Basic Pension Plan and Excess Cash Balance Plan to a Surviving Spouse of a Participant who dies in Employment.
Sample 1
Preretirement Spouse s Benefit” means, prior to a Participant’s Transfer Date, the benefit payable or paid under the Basic Pension Plan and Cash Balance Restoration Plan to a Surviving Spouse of a Participant who dies prior to Separation from Service and, on and after a Participant’s Transfer Date, the benefit payable or paid under the Basic Pension Plan and Section 4.3(e) to a Surviving Spouse of a Participant who dies prior to Separation from Service.
Sample 1
Preretirement Spouse s Benefit” means the benefit payable or paid under the Basic Pension Plan and Cash Balance Restoration Plan to a Surviving Spouse of a Participant who dies prior to Separation from Service.
Sample 1

Examples of Preretirement Spouse in a sentence

  • For purposes of clarity, such Surviving Spouse shall not be eligible to receive an annuity in the form of the Preretirement Spouse Benefit under the principles of Section X.9 of the GE Pension Plan;(b)with respect to any post-retirement death benefit attributable to Non-Grandfathered Plan Benefits under the principles of Section X.11 of the GE Pension Plan (Five Year Certain (No Survivor Benefit)), the calculation of the lump sum shall be determined without making any discount to present value.

  • These properties would be obtained on a freehold basis and the mix is as follows: 2 one-bedroom flats, 4 two-bedroom flats, 2 two-bedroom houses, 2 three-bedroom houses and 1 four-bedroom house.

  • The initial monthly payment under the Preretirement Spouse Option will be equal to the Actuarial Equivalent of the amount payable under the Life Annuity form.

  • DeathStandard survivor benefit under the PlanIn the event of your death, your beneficiary will receive a Qualified Pre-retirement Spouse Annuity if you are married (50% Spouse Annuity) or a 10-Year Certain and Life Annuity if you are unmarried.

  • With respect to a Preretirement Spouse Benefit payable to the Spouse of an active Eligible Employee, the annual benefit will be equal to forty- five percent (45%) of the Participant’s Accrued Benefit determined in accordance with Section 5.1 had his date of death been his Normal Retirement Date, assuming that his Benefit Accrual Service continued until his Normal Retirement Date and that his Compensation remained the same.

  • For a Participant who meets the eligibility requirements set forth in 7.1(a)(ii)(A) or (B), but not 7.1(a)(i) and who has Dependent Children, such Participant shall be eligible to have the Preretirement Spouse Benefit equal to 45% of the Participant’s Accrued Benefit as described in Section 7.1(b)(i) become payable to the Dependent Children commencing upon Participant’s death, payable as described above.

  • If a Public Safety Participant dies before his or her Retirement Date or Normal Retirement Date, whichever is earlier, and is married as of the date of death, the Public Safety Participant’s Spouse will be eligible to receive retirement income if the Preretirement Spouse Benefit described in Section 8.1 is in effect.

  • The Preretirement Spouse Benefit will be payable on a monthly basis and each payment will be equal to 1/12th of the annual benefit determined pursuant to Section 8.1(B).

  • If a Spouse was eligible for benefits in accordance with Section 7.1(b)(i), the Preretirement Spouse Benefit will be payable monthly with each payment equal to one-twelfth (1/12) of the yearly amount.

  • If a Participant dies before his Benefit Commencement Date or Normal Retirement Date, whichever is earlier, his Spouse will be eligible to receive a Preretirement Spouse Benefit in accordance with the terms of Section 7.1 if the Participant is eligible for coverage under the Preretirement Spouse Benefit.


More Definitions of Preretirement Spouse

Preretirement Spouse s Annuity" means an annuity contract purchased with the entire balance of the Participant's Account, payable in the form of a Single Life Annuity to the spouse to whom the Participant was married at the time of the Participant's death. If the balance to the Participant's Account is less than the amount specified in subparagraph (D), such balance shall be payable as a Lump Sum Distribution to the spouse as of the first day of the month following the Participant's death.
Sample 1

Related to Preretirement Spouse

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

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

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

  • 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.

  • Eligible Spouse means a spouse of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document, or an ex-spouse who is an Eligible Spouse with rights to coverage as an Eligible Spouse pursuant to a court order recognized by SHARP. A Spouse must be married to retiree at least one year prior to the effective date of retirement. A Spouse married after the retiree’s effective retirement date is considered a non-eligible spouse for purposes of the Plan. [See “Spouse”]

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

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

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • 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.

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

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

  • 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;

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

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Qualified Joint and Survivor Annuity means an annuity for the life of the Participant with a survivor annuity for the life of his Spouse as described in Section 8.2.

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

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

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

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • 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.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

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