Supplemental FAP Benefit definition

Supplemental FAP Benefit means, for any Participant, the portion (if any) of his Supplemental Pension that is not attributable to the Qualified Plan’s cash balance formula—i.e., the excess (if any) of (i) the Participant’s Gross Pension calculated under the Qualified Plan’s final average pay formula (and any other formula other than the Qualified Plan’s cash balance formula, but excluding any supplemental or restructuring benefit), over (ii) the Participant’s Qualified Pension calculated under the Qualified Plan’s final average pay formula (and any other formula other than the Qualified Plan’s cash balance formula, but excluding any supplemental or restructuring benefit).
Sample 1

Examples of Supplemental FAP Benefit in a sentence

  • If such Participant is an Eligible Participant as defined in 5.1(d) below, his FAP Benefit shall also include his Supplemental FAP Benefit, as determined in 5.1(d) below.

  • For any Participant who is not a Cash Balance Participant, such Participant’s Supplemental Pension shall consist entirely of the Participant’s Supplemental FAP Benefit.

  • For any Cash Balance Participant who has a Pre-Cash Balance Accrued Benefit (as defined by the Qualified Plan), such Participant’s Supplemental FAP Benefit shall be equal to the excess (if any) of (a) such Pre-Cash Balance Accrued Benefit, determined without regard to the Qualified Plan Limits, over (b) such Pre-Cash Balance Accrued Benefit.

  • For the Participant’s Supplemental FAP Benefit (if any), the first day of the calendar month coincident with or next following the later of (A) the Participant’s Termination Date or (B) the Participant’s 55th birthday; provided, that for any Participant who (i) had a Termination Date before July 1, 2008, (ii) attained age 55 before January 1, 2009, and (iii) did not begin receiving his Plan benefit before January 1, 2009, the Nominal Commencement Date means January 1, 2009.

  • No Cash Balance Participant who does not have a Pre-Cash Balance Accrued Benefit (as defined by the Qualified Plan) under the Qualified Plan shall accrue a Supplemental FAP Benefit.

  • Unless the Participant is a Legacy Mead Participant, his vested Supplemental FAP Benefit shall be paid in the annuity form elected (or deemed to be elected) by the Participant, in accordance with Section 4.02(d).

  • The Annuity Component shall be equal to the excess (if any) of the Participant’s Supplemental FAP Benefit over his Lump-Sum FAP Component.

  • The Supplemental Pension (if any) for any Cash Balance Participant who is entitled to a Supplemental Pension for service before January 1, 2008 shall consist of (1) a Supplemental FAP Benefit (for service before January 1, 2008) and (2) a Supplemental Cash Balance Benefit (for service on and after January 1, 2008).

Related to Supplemental FAP Benefit

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

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

  • 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.

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

  • 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.

  • 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.

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

  • 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.

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

  • Supplemental Payment means any payments or transfers of things of value made to the District or to any person or persons in any form if such payment or transfer of thing of value being provided is in recognition of, anticipation of, or consideration for the Agreement and that is not authorized pursuant to Sections 313.027(f)(1) or (2) of the TEXAS TAX CODE, and specifically includes any payments required pursuant to Article VI of this Agreement.

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

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

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

  • Actuarial equivalent means a benefit of equal value when

  • 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;

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

  • Supplemental Plan means a written plan for a child outlining the agency's plan to locate a permanent placement for the child and which may be developed concurrently with the case plan.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • 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.

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

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

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

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

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

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