SURP definition

SURP has the meaning set forth in Section 2.5(c).
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SURP means all supplementary pension arrangements including the Laurentian University Supplemental Retirement Plan and all individual contractual supplementary pension arrangements;
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Examples of SURP in a sentence

  • The Naples SURP may be amended in a manner consistent with any amendments made to the Company SURP; provided, however, no such amendment will reduce or limit any of the benefits thereunder.

  • Executive shall be fully vested in the benefits accrued under the Naples SURP and such benefits shall be nonforfeitable, notwithstanding the termination of his employment with the Company prior to his reaching normal retirement age.

  • In the event Executive makes a timely election to receive the Naples SURP benefit in the form of three installments and dies after the Applicable Date and before the three installments have been paid, the installments not paid to Executive shall be paid to Executive’s Beneficiary.

  • The Naples SURP provides that Executive shall receive supplemental retirement income benefits similar to those in the Company's Supplemental Retirement Income Program ("Company SURP"), as amended through May 5, 1993, with the exception that Executive shall be immediately vested thereunder and that for purposes of calculating benefits, he will only need fifteen years to receive the maximum benefits thereunder.

  • The coordinator will be responsible for co-signing the student’s SURP 2021 application and verifying funding information.

  • Executive shall be entitled to benefits under the Naples SURP as provided in Paragraph 6(b).

  • Notwithstanding anything contained in the Naples SURP and/or in the Company's employment policies to the contrary, promptly after the date of this Employment Agreement, the Naples SURP will be amended so as to provide that benefits (to the extent then earned by credited service without actuarial reduction) under the Naples SURP will commence at age 60 (rather than at age 65) unless prior to Executive's 60th birthday Executive elects a deferred benefit commencement date.

  • At the culmination of the SURP 2021 program, the IMS SURP Administrator will submit an annual activity report to the coordinator.

  • For purposes of determining the amount of the installments, the actuarial equivalent present value as of the Applicable Date of the benefit otherwise payable to Executive under the Naples SURP in the form of a single life annuity commencing at the Applicable Date shall be determined, and the installments shall be the actuarial equivalent of such present value.

  • The Naples SURP may be amended in a manner consistent with any amendments made to the Quaker Chemical Corporation Supplemental Retirement Income Program; provided, however, no such amendment will reduce or limit any of the benefits thereunder.

Related to SURP

  • Parks means the New York City Department of Parks & Recreation.

  • Boathouse (NR 115.03(1h)) means a permanent structure used for the storage of watercraft and associated materials and includes all structures which are totally enclosed, have roofs or walls or any combination of these structural parts.

  • Corporate Headquarters means the location that is the primary center of direction, control and coordination for the company.

  • Next Michigan development corporation means that term as defined in section 3 of the next Michigan development act, 2010 PA 275, MCL 125.2953.

  • Home office is our main office. The mailing address is shown on the first page of this Contract.