RIP Participant definition

RIP Participant means a Participant in the Plan on December 31, 2008, who meets at least one of the following requirements on
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Examples of RIP Participant in a sentence

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  • Any benefit payments to a RIP Participant and his surviving Spouse or other Beneficiary in a form other than that provided in subsection (a) of this Section 4.06 shall be adjusted so that their value is the Actuarial Equivalent to the value of the RIP Participant’s vested Accrued Benefit, assuming it is paid monthly in the form provided in such subsection (a), commencing with the month next following the later of his sixty-fifth (65th) birthday or Separation from Service.

  • If no designated Beneficiary survives the RIP Participant, a single sum payment which is the Actuarial Equivalent of the remaining payments shall be made to the estate of the last to survive of the RIP Participant or his Beneficiary.

  • A RIP Participant who qualifies on his Termination Date for normal, disability or early retirement under subsection (a), (b) or (c), respectively, of Section 4.01 hereof shall be one hundred percent (100%) vested in his Accrued Benefit.

  • Subject to subsection (b) of this Section 4.08, in the event a RIP Participant’s surviving Spouse, if any, is eligible for pre-retirement death benefits pursuant to Section 4.04 hereof, such Spouse shall be entitled to receive fifty percent (50%) of the monthly Joint and Survivor Annuity, determined in accordance with Sections 4.03, 4.05 and 4.07(a)(i), that the RIP Participant would have been entitled to receive had he terminated employment with the Employer on the day before his death.

  • Notwithstanding any provisions to the contrary contained herein, if a RIP Participant who receives a lump sum distribution pursuant to this subsection (d) is subsequently rehired by an Employer, the amount of any benefit he shall become entitled to receive under the Plan as a result of his reemployment shall be offset by the amount which is the Actuarial Equivalent of such lump sum distribution as if such amount were Other Benefits of the RIP Participant.

  • In the event a RIP Participant dies both while employed by the Employer and on or after his completion of five (5) Years of Service, the RIP Participant’s surviving Spouse, if any, shall be entitled to receive death benefits hereunder as provided in Section 4.08 hereof.

  • In the event that a RIP Participant to whom payment of benefits hereunder has commenced is reemployed as a regular, full time employee by an Employer, his benefit payments hereunder shall not be suspended.

  • A key decision in designing the planning process is to identify the desired membership of a strategic planning committee.

  • The last payment of the Fifty Percent (50%) Joint and Survivor Annuity shall be made as of the first day of the month in which the death of both the RIP Participant and his Spouse has occurred.

Related to RIP Participant

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Participant has the meaning specified in Section 10.06(d).

  • Loan Participant means each Purchaser and its respective successors and registered assigns, including any Certificate Holder.

  • Qualified Participant means any Participant or Former Participant who has completed ten (10) Years of Service as a Participant and has attained age 55.

  • CDS Participant means a broker, dealer, bank or other financial institution or other person for whom, from time to time, CDS effects book entries for the Units deposited with CDS.

  • Current Participant means a Class Member who has an Active Account in one or both the Plans as of August 5, 2020.

  • Other Participant means a cooperative project participant other than the United States.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Active Participant means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, or Normal Retirement.

  • Designated Participant means a key Employee of the Company or any other Participating Company who is designated by the Committee in writing to participate in the Program.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Exchange Participant means (a) the Bank which is a person registered as a China Connect Exchange Participant (as defined in the SEHK China Connect Rules) by SEHK; or (b) where the context requires, any China Connect Exchange Participant (as defined in the SEHK China Connect Rules).

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Study Participant means a person recruited to participate in the Study.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Market Participant means a Market Buyer, a Market Seller, an Economic Load Response Participant, or all three, except when such term is used in Tariff, Attachment M, in which case Market Participant shall mean an entity that generates, transmits, distributes, purchases, or sells electricity, ancillary services, or any other product or service provided under the PJM Tariff or Operating Agreement within, into, out of, or through the PJM Region, but it shall not include an Authorized Government Agency that consumes energy for its own use but does not purchase or sell energy at wholesale.