Regular Retirement Benefit definition

Regular Retirement Benefit means the monthly retirement benefit that the Eligible Member would receive absent the Medicare Gap Benefit Election, which includes the actuarial adjustments as a result of the member's election of early retirement and/or survivor benefit options. It does not include amounts refunded of additional contributions paid to a member in the form of a limited retirement benefit under 74 O.S. § 910.5.
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Regular Retirement Benefit means the monthly retirement benefit that the Limited Eligible Member has elected to receive and includes normal, early and disability retirements, excluding retroactive lump-sum disability payments.
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Regular Retirement Benefit means the monthly retirement benefit that the Eligible Member would receive absent the Medicare Gap Benefit Election, which includes the actuarial
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Examples of Regular Retirement Benefit in a sentence

  • Despite any provision to the contrary, all members who made the Medicare Gap Benefit Election with a retirement effective date from May 1, 2006, the Option Effective Date, through June 30, 2007, Medicare Gap Benefit means an adjusted retirement benefit which is greater than the member's Regular Retirement Benefit beginning with the first retirement benefit payment through December of the year the member becomes Medicare-eligible.

  • Beginning in January of the year following such year that the member becomes Medicare-eligible, the retirement benefit will be actuarially reduced making the member's benefit less than the Regular Retirement Benefit for the remaining lifetime of the member.

  • The Board shall cause to be sent a letter of eligibility to each Limited Eligible Member who has Excess Contributions and who is already receiving a Regular Retirement Benefit from the System as of December 31, 2000.

  • The amount of the monthly benefit shall equal the monthly Regular Retirement Benefit, adjusted for Early or Deferred Retirement if applicable.

  • It shall be payable monthly so long as Limited Eligible Member is receiving a Regular Retirement Benefit until the Limited Eligible Member has received the Maximum Limited Benefit amount.

  • If the Limited Eligible Member is aggrieved by the decision, the exclusive remedy is through the administrative hearing procedures as provided in 590:1-1-6.(3) The Board will direct that the Limited Benefit be paid to the Limited Eligible Member as stated in the letter of eligibility provided that the Limited Eligible Member begins to receive a Regular Retirement Benefit.[ Source: Added at 18 Ok Reg 548, eff 12-28-00 through 7-14-01 (emergency); Added at 18 OkReg 3258, eff 7-26-01] 590:10-15-5.

  • A Participant’s monthly Regular Retirement Benefit shall equal his or her vested Accrued Benefit as of the date of Termination (or the Participant’s Freeze Date, if earlier) Actuarially adjusted for form of payment and any prior distributions.

  • The early retirement benefit described in this Section 3.6 is in lieu of, and not in addition to, the Early Retirement Benefit or Regular Retirement Benefit to which such Eligible Participant might otherwise be entitled.

  • A Participant’s monthly Regular Retirement Benefit shall equal his or her vested Accrued Benefit as of the date of Termination Actuarially adjusted for form of payment and any prior distributions.

  • Jack will have 30 years of service on the date he plans to retire, so he will be eligible for a Special Regular Retirement Benefit at age 52.New Rule.

Related to Regular Retirement Benefit

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

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

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

  • 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.

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

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

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

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

  • 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.

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

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

  • 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.

  • 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.

  • 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.

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

  • 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)).

  • Retirement Age means the earlier to occur of:

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

  • 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;

  • 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.

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

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

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