Target Pension Benefit definition

Target Pension Benefit means, with respect to a Member, the Member’s target defined benefit determined under Section 5.02 with respect to which contributions are made on behalf of such Member pursuant to Section 5.01.
Sample 1

Examples of Target Pension Benefit in a sentence

  • Using the 2010 diagnostic algorithms as a basis, PNNL reviewed and prioritized a list of common problems that can be detected and diagnosed automatically, some of which can be corrected automatically as well.

  • The Committee shall interpret where necessary, in its reasonable and good faith judgment, the provisions of this Agreement and, except as otherwise provided in the Agreement, shall determine the rights and status of the Executive and Beneficiaries hereunder (including, without limitation, the amount of any Supplemental Target Pension Benefit to which the Executive or Beneficiary may be entitled under this Agreement).

  • To the extent required by applicable law, the Company shall withhold from the Supplemental Target Pension Benefit any taxes required to be withheld therefrom by a federal, state or local government.

  • If the effect on the Executive of the payment of any such lump sum amount is to increase the sum of the highest marginal federal, state and local income tax rates that apply to such lump sum payment over the sum of the highest such rates that would apply to the Executive's receipt of his Supplemental Target Pension Benefit in the form of a single life annuity, the Company shall make an additional lump sum payment to the Executive in an amount sufficient, on an after-tax basis, to eliminate such effect.

  • In the event that any portion of the Executive's benefit under the Pension Plan is allocated to an alternate payee pursuant to the terms of a qualified domestic relations order, the Executive's Supplemental Target Pension Benefit hereunder shall be calculated without taking into account such allocation.

  • Notwithstanding the foregoing provisions of this Article, no amendment or termination of this Agreement shall, without the consent of the Executive (or, in the case of his death, his Beneficiary), adversely affect the vested Supplemental Target Pension Benefit under this Agreement of the Executive or Beneficiary as such Benefit exists on the date of such amendment or termination.

  • Notwithstanding the foregoing provisions of this Article, no amendment or termination of this Agreement shall, without the consent of the Executive (or, in the case of his death, his Beneficiary), adversely affect the vested Supplemental Target Pension Benefit under this Agreement of the Executive or 14 14 Beneficiary as such Benefit exists on the date of such amendment or termination.

  • In no event may an alternate payee receive a distribution or an allocation of any portion of a Supplemental Target Pension Benefit hereunder.

Related to Target Pension Benefit

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

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

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

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

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

  • 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.

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

  • Actuarial equivalent means a benefit of equal value when

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • 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.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

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

  • 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).

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

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

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

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

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

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

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • 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

  • qualifying age for state pension credit means (in accordance with section 1(2)(b) and (6) of the State Pension Credit Act 2002)—

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

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