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.
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.
Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.
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.
Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).
Retirement Benefit means the benefit set forth in Article 5.
Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.
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.
Early Retirement Benefit means the retirement benefit payable to a member following early
Normal Retirement Benefit means the benefit described in Section 2.1.
Disability Benefit means the benefit set forth in Article 8.
Annuity Benefit means a benefit payable by us as described in Part VII.
Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.
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;
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;
Termination Benefit means the benefit set forth in Article 7.
Actuarial equivalent means a benefit of equal value when
Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.
retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;
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 Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.
Single Life Annuity means an annuity payable for the life of a Participant.
Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.
Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.
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.