SERP Pre-Retirement Benefit definition

SERP Pre-Retirement Benefit means the pre-retirement benefit determined under Article IV.
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Examples of SERP Pre-Retirement Benefit in a sentence

  • A Death Beneficiary who is eligible for a SERP Pre-Retirement Benefit hereunder shall receive the portion of such SERP Pre-Retirement Benefit that is based on the Executive’s Grandfathered SERP Benefit in accordance with this Subsection (1).

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  • Notwithstanding the foregoing, the Death Beneficiary of a Cash Balance Participant, and who is eligible for a SERP Pre-Retirement Benefit, shall receive such Benefit in the form of a lump sum payment.

  • The increment between Step 3 and Step 4 is $2,297 or a 4.55% increase, the Step 4 salary being $52,828.

  • The SERP Pre-Retirement Benefit shall be calculated in accordance with, and payable at the same time and (except as provided in Section 3.4(2)) in the same manner as, the pre- retirement death benefits and (if applicable) the optional death benefits described in the Pension Plan, as determined by the Administrator.

  • Hereafter all section references are to the Health and Safety Code.

  • The Non-Grandfathered SERP Pre-Retirement Benefit shall be paid in the form of an Actuarially Equivalent single lump sum payment on the first day of the third month after the later of the date on which the Executive would have attained age 55 or the date of the Executive’s death.

  • Section 1.3 of the Administrative Document is hereby amended by amending and restating such Section to read as follows:Section 1.3 “ Benefit” shall mean a Mirror Pension Benefit, a Mirror Pre-Retirement Pension Benefit, a SERP Benefit, a SERP Pre-Retirement Benefit, a Mirror Savings Benefit, an Executive Death Benefit, an Executive Disability Benefit, or a Deferred Compensation Plan Account benefit.

  • Notwithstanding any provision of the Plan (including the Administrative Document) to the contrary, no amendment or termination of the Plan shall, without the consent of the Executive (or, in the case of his death, his Death Beneficiary), adversely affect the vested SERP Benefit or vested SERP Pre-Retirement Benefit under the Plan of any Executive or Death Beneficiary as such Benefit exists on the date of such amendment or termination.

  • A Death Beneficiary who is eligible for a SERP Pre-Retirement Benefit hereunder shall receive the portion of such SERP Pre-Retirement Benefit that is based on the Executive’s vested Non-Grandfathered SERP Benefit as follows.

Related to SERP Pre-Retirement Benefit

  • 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 Benefit means the benefit described in Section 2.1.

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

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

  • 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.

  • 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;

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

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

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

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

  • 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.

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

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

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

  • 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).

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

  • Retirement Age means the earlier to occur of:

  • Actuarial equivalent means a benefit of equal value when

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

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

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

  • Service benefit means the credit toward retirement benefits as determined by the

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