Supplemental ESOP Death Benefit definition

Supplemental ESOP Death Benefit means the death benefit payable pursuant to section 4.1 of the Plan.
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Examples of Supplemental ESOP Death Benefit in a sentence

  • If a Member who is eligible for a Supplemental ESOP Benefit under section 3.1 dies before the payment of such benefit begins, a Supplemental ESOP Death Benefit shall be payable to the Member’s Beneficiary under this Plan in amount equal to the balance credited to the Supplemental ESOP Account established for the Member under section 3.1(b).

Related to Supplemental ESOP Death Benefit

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

  • 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.

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

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

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

  • 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 Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

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

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

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

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

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

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

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

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

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

  • Actuarial equivalent means a benefit of equal value when

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

  • 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)).

  • 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.

  • 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.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • 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).

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

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