Qualified Retirement Annuity definition

Qualified Retirement Annuity means an annual amount calculated as the sum of the following, payable monthly for the life of the Executive commencing as of the Retirement Date provided in Section 4:
Qualified Retirement Annuity means the form of annuity payment described in Paragraph 8.4(2)(a).
Qualified Retirement Annuity means --

Examples of Qualified Retirement Annuity in a sentence

  • In listing the products to be usedthroughout the electrical systems, the subsection of the "Basic Electrical Materials and Methods" section entitled "Wire and Cable" lists metal clad cable or MC cable as a permissible product to be used on the project.

  • We will analyse feedback received on the recognition and measurement of long-term performance incentives and make recommendations at a future meeting.

  • Subject to Section 8.4 (regarding minimum distributions), a Member may elect, pursuant to a qualified election as described in paragraph (3) below, not to receive his CNA Subaccounts in the form of a Qualified Retirement Annuity, but to have his CNA Subaccounts paid to him pursuant to any other method of distribution permitted under Section 8.1 or Section 16.5.

  • The form of annuity contract available under the Plan shall be limited to a Qualified Retirement Annuity.

  • Unless a Member subject to this Section elects, under paragraph (2) below, an alternative method of payment, his CNA Subaccounts shall be paid in the form of a Qualified Retirement Annuity if the Member does not die prior to his Benefit Commencement Date.

  • A Member's election to receive his CNA Subaccount in an alternative form under paragraph (2) above shall be in the form of a waiver of the Qualified Retirement Annuity made by delivering written notice to the Benefits Committee or its authorized representative during the 90-day period ending on the Member's Benefit Commencement Date and, if the Member is married, must be consented to by the Member's Spouse.

  • Except as otherwise provided in Section 6, the amount of the Executive Annuity to or in respect of the Executive shall be an annual sum equal to 1.25% of the Executive's Compensation multiplied by the Executive's Service, reduced by the Executive's Qualified Retirement Annuity.

  • The Qualified Retirement Annuity shall be in the amount that can be purchased with the balance of the Member's CNA Subaccounts.


More Definitions of Qualified Retirement Annuity

Qualified Retirement Annuity. Unless an optional form of benefit described in Section 4.6.1 is elected pursuant to a qualified election within the 90 day period ending on the annuity starting date, a participant's vested accrued benefit shall be applied to the purchase of a qualified retirement annuity. The participant may elect to have such annuity distributed upon the attainment of the earliest retirement age under the plan.
Qualified Retirement Annuity with respect to a participant who is married on the annuity starting date, shall mean a qualified joint and survivor annuity. A qualified retirement annuity, with respect to a participant who is not married on the annuity starting date, shall mean a life annuity as described in Section 4.6.1(i).
Qualified Retirement Annuity means a monthly annuity that is actuarially ---------------------------- equivalent to the Participant's Plan Benefit attributable to his or her Pension Accounts and that is payable (a) in the case of a married Participant, for the life of the Participant, with 50 percent of such annuity continued for the life of the Participant's spouse if he or she survives the Participant and (b) in the case of an unmarried Participant, for the life of the Participant.

Related to Qualified Retirement Annuity

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

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

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

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

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

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Disability retirement for plan 1 members, means the period

  • Normal Retirement Benefit means the benefit described in Section 2.1.

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

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

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

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

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

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Retirement Age means the earlier to occur of:

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

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

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

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.