Retirement pension benefit definition

Retirement pension benefit means an allowance, right, accrued right, or other pension benefit payable under a defined benefit pension plan to a participant in the plan or a beneficiary of the participant.
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Retirement pension benefit means an allowance, right,
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Examples of Retirement pension benefit in a sentence

  • An Early Service Retirement pension benefit is as follows:2.1% of FAS x years of credited service (for first 20 years)-plus-1/3% of FAS for each month in excess of 20 years [total benefit not in excess of 50% of FAS]-entire benefit above less- 50% of primary Social Security benefit commencing at 62 Normal Service Retirement A member is eligible to retire for Service without reduction upon the completion of 22 years of uniformed service.

  • Retirement pension benefit accounts of the Federation of National Public Service Personnel Mutual Aid Associations.

  • Health insurance benefit (32%) and Retirement pension benefit (21 %) to attract employees to prefer working there.

  • Its previous efforts to generate electricity from renewable energy sources was done under the instrumentality of the Renewable Energy White Paper and the Renewable Energy Feed-In Tariff (REFIT), this unfortunately suffered setbacks as a result of the lack of political support for their implementation.

  • Since your Social Security benefit is a factor in the benefit formula, the Early Retirement pension benefit paid before age 65 is greater than it is after age 65, when Social Security benefits begin.

  • Proposers submitting responses via VSS must make sure to attach their proposal.

  • Any employee who ex- hausts SUB benefits under the and is eligi- ble to receive an Early Retirement pension benefit, excluding (a), will receive a special one (1) time severance payment of fifteen thou- sand dollars ($15,000).

Related to Retirement pension benefit

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

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

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

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

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

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

  • 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;

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

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

  • 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.

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

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

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

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • 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 Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

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

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

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

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