Reduced Normal Retirement Benefit definition

Reduced Normal Retirement Benefit means the Normal Retirement Benefit reduced by the Applicable Penalty Percentage as determined pursuant to subparagraph 3.01(b).
Sample 1Sample 2Sample 3
Reduced Normal Retirement Benefit means the Normal Retirement Benefit reduced by the Applicable Penalty Percentage as determined pursuant to subparagraph 3.01(b) with the resulting amount multiplied times the Vested Percentage.
Sample 1Sample 2
Reduced Normal Retirement Benefit means an amount equal to the product of (a) the Normal Retirement Benefit (calculated under Section 1.27 hereof) multiplied by (b) a fraction, the numerator of which shall be the number of Years of Service the Participant has completed with the Company and its Affiliates, and the denominator of which shall be (i) 5, in the case of Tier I Participants, or (ii) 15, in the case of Tier II Participants.
Sample 1

Examples of Reduced Normal Retirement Benefit in a sentence

  • The Reduced Normal Retirement Benefit is not payable to an ESCP Participant prior to the date of attaining Early Retirement Age.

  • The city shall improve its applications of information technology in order to manage effectively disasters and their destructive consequences.

  • ESCP II provides a Reduced Normal Retirement Benefit to each ESCP II Participant who Separates from Service or dies with a Vested Percentage prior to having attained Normal Retirement Age.

  • ESCP provides a Reduced Normal Retirement Benefit to each ESCP Participant who Separates from Service or dies with a Vested Percentage prior to having attained Normal Retirement Age.

  • The Reduced Normal Retirement Benefit is not payable to an ESCP II Participant prior to the date of attaining Early Retirement Age.

  • The Reduced Normal Retirement Benefit is calculated by reducing the ESCP II Participant’s Averaged Annual Base Salary by the Applicable Penalty Percentage set forth below in subparagraph 3.0l(b)(ii), then multiplying such reduced Averaged Annual Base Salary by the ESCP II Participant’s Vested Percentage.

  • Given that we find sufficient contacts to afford specific personal jurisdiction under MCL 600.715(1), and that the trial court made no findings under MCL 600.715(5), we need not decide the issue.

  • ASERP provides a Reduced Normal Retirement Benefit to each ASERP Participant who separates from service with a Vested Benefit prior to having attained Normal Retirement Age and does not violate the covenants set forth or otherwise forfeit his ASERP Benefit as set forth in Article VI.

  • A Surviving Spouse’s Reduced Normal Retirement Benefit death benefit shall begin as soon as administratively practicable after the ASERP Participant’s death, but in no event later than sixty (60) days following the date of such Participant’s death.

  • Social movement leaders are directly accountable to their communities, usually emerging from them and facing similar impoverishment, dispossession, discrimination or repression.

Related to Reduced Normal Retirement Benefit

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

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

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

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

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

  • 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.

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

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

  • 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;

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

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Retirement Age means the earlier to occur of:

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

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

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

  • 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.

  • Change in Control Benefit means the benefit described in Section 2.4.

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

  • Actuarial equivalent means a benefit of equal value when

  • 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).

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

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

  • 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.

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

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.