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.
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.
Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.
Retirement Benefit means the benefit set forth in Article 5.
Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.
Early Retirement Benefit means the retirement benefit payable to a member following early
Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).
Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.
Termination Benefit means the benefit set forth in Article 7.
Disability Benefit means the benefit set forth in Article 8.
Actuarial equivalent means a benefit of equal value when
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).
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;
Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.
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;
Change in Control Benefit means the benefit described in Section 2.4.
Disability Retirement Date means the first day of the month following the last day of paid employment;
Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.
Disability retirement for plan 1 members, means the period