Projected annual retirement benefit definition

Projected annual retirement benefit means the annual benefit to which a Participant would be entitled under any qualified defined benefit retirement plan maintained by the Company or any member of the Affiliated Group, based on the assumptions that employment continues until normal retirement age, that earnings continue until normal retirement age at the same rate as in effect in the limitation year under consideration, and that all other relevant factors used to determine benefits under the plan as of the current limitation year remain constant for all future limitation years.
Sample 1Sample 2Sample 3
Projected annual retirement benefit means the annual benefit to which a Participant would be entitled under the provisions of a defined benefit retirement plan maintained by a Participating or Related Employer in which the individual is a participant, based on the assumptions that the Participant continues employment until the Participant’s normal retirement age, that the Participant’s earnings continue at the same rate as in effect in the plan’s limitation year under consideration until the Participant’s normal retirement age, and that all other relevant factors used to determine benefits under the plan as of the current limitation year of such plan remain constant for all such future limitation years.
Sample 1Sample 2Sample 3
Projected annual retirement benefit means the annual benefit, actuarially adjusted in the case of a benefit that is payable in a form other than a life annuity or qualified joint and survivor annuity, to which a Participant would be entitled under the provisions of a defined benefit retirement plan maintained by the Company or any member of the Affiliated Group in which he is a participant, based on the assumptions that he continues employment until his normal retirement age, that his Earnings continue at the same rate as in effect in the plan's Limitation Year under consideration until his normal retirement age, and that all other relevant factors used to determine benefits under the plan as of the current Limitation Year of such plan remain constant for all such future Limitation Years.
Sample 1Sample 2

More Definitions of Projected annual retirement benefit

Projected annual retirement benefit means the annual benefit to which a Participant would be entitled under the provisions of any defined benefit retirement plan which is not a multiemployer plan and which is maintained by an Employer or any member of the Affiliated Group in which he is a participant,
Sample 1Sample 2

Related to Projected annual retirement benefit

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

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

  • 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.

  • 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 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.

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

  • Actuarial equivalent means a benefit of equal value when