Retirement Benefit Payment definition

Retirement Benefit Payment means any payment to which the Participant is entitled pursuant to Section 5.1.
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Examples of Retirement Benefit Payment in a sentence

  • The Normal Retirement Benefit shall commence within thirty (30) days of the Employee’s Normal Retirement Date (with the date of the initial payment within such period determined by the Corporation in its sole discretion) and shall continue until the expiration of the Normal Retirement Benefit Payment Period.

  • The Normal Retirement Benefit shall be payable to the Employee in equal monthly installments, for a period of fifteen (15) years (one-hundred eighty (180) payments) (the “Normal Retirement Benefit Payment Period”).

  • Retirement Benefit Payment OptionsAs a retired KPERS member, you will receive a monthly retirement benefit for the rest of your life.

  • In addition, subject to the provisions of Section 1(d) below, Executive shall receive with each Retirement Benefit Payment a tax-gross-up payment (each, a “Gross-Up Payment”) in an amount necessary to provide Executive with sufficient cash, after all applicable taxes on the Gross-Up Payment, to pay all applicable taxes on the Retirement Benefit Payment.

  • Notwithstanding any provision herein to the contrary, to the extent required by Code Section 409A, the final Retirement Benefit Payment under Section 1(a) above (in connection with Executive’s termination of employment with the Company) and related Gross-Up Payment shall be made on the date six months after such termination of employment.

  • DEPARTMENT OF MANAGEMENT SERVICESDivision of RetirementRULE NO.: RULE TITLE:60S-4.010 Retirement Benefit Payment OptionsNOTICE OF CORRECTIONNotice is hereby given that the following correction has been made to the proposed rule in Vol.

  • At the date of retirement the individual member’s account is transferred to the Retirement Benefit Payment Reserve.

  • If an Event of Insolvency occurs after the Retirement Benefit Commencement Date, then in lieu of any Retirement Benefit Payments due on, or payable after such Date, the Participant shall be entitled to (i) a Guaranteed Primary Benefit Payment for each month beginning on or after such Date and beginning on or before the earlier of the Causal Termination Date or the Guaranteed Full Payout Date; and (ii) an Insolvency Retirement Benefit Payment for the first month beginning after the close of each Plan Year.

  • Retirement Benefit Payment OptionsThe normal form of benefit if you are single is a 10 Year Certain Life Annuity.

  • Retirement Benefit Payment OptionsWhen a member retires, he or she must select a payment option.

Related to Retirement Benefit Payment

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

  • 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 Benefit means the benefit described in Section 2.1.

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

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

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

  • 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.

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

  • 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.

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

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

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

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

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

  • Annuity Benefit means a benefit payable by us as described in Part VII.

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

  • 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.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Employment benefits means all benefits provided or made

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

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • 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).

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.