Disability Retirement Benefit. An Active Participant who has suffered a Permanent Disability shall be entitled to receive during the period of his disability, with the first payment to be made on his Disability Retirement Date, a monthly Standard Form of Retirement Income which shall be equal to his Accrued Benefit payable at his Normal Retirement Date, reduced by one-fifteenth (1/15th) for each of the first five (5) years, one-thirtieth (1/30th) for each of the next five (5) years, and actuarially reduced for each additional year by which his Disability Retirement Date precedes his Normal Retirement Date. If it is subsequently determined that such Participant is no longer disabled, he shall not be entitled to further benefits as a result of such disability, and he shall only be entitled to such other benefits as may be provided under the terms of the Plan for which he was eligible as of his Disability Retirement Date, reduced by the disability retirement benefits paid. If such Participant returns to the employ of the Employer immediately following the termination of his Permanent Disability, he shall resume the classification of an Active Participant, and his employment with the Employer shall not be deemed interrupted. A Participant, who has severed employment prior to his Permanent Disability, will not be entitled to any benefits under this Section 5.4.
Disability Retirement Benefit. Notwithstanding any other provision hereof, if requested by the Director and approved by the Board, the Director shall be entitled to receive payments hereunder prior to his Normal Retirement Date, in any case in which it is determined by a duly licensed physician selected by the Association that, because of ill health, accident, disability or general inability because of age, the Director is no longer able, properly and satisfactorily, to perform his regular duties as a Director. If the Director’s service is terminated pursuant to this paragraph and Board approval is obtained, the Director may elect to begin receiving the annuity value of his Accrued Benefit. The interest factor used to annuitize the Accrued Benefit shall be equal to the greater of the average cost of deposits of the Association for the prior twelve (12) month period or the internal rate of return earned on the Director’s deferrals up to the date of disability. In the event the total benefits received by the Director pursuant to this Subsection are less than the total Deferred Compensation Benefit, upon Director’s death, an additional amount shall be paid to Director’s Beneficiary to make up the difference. This payment, when added to the burial expenses provided by Subsection 5.3, shall discharge the Association’s obligation under this Agreement.
Disability Retirement Benefit. Upon the Executive’s Disability Retirement, the Bank shall pay to the Executive the benefit described in this Section 2.4 instead of any other benefit under this Agreement.
Disability Retirement Benefit. (a) In the event of total and permanent disability, a Participant shall: (select one)
Disability Retirement Benefit. Notwithstanding any other provision hereof, the Director shall be entitled to receive his Deferred Compensation Benefits hereunder prior to his Normal Retirement Date in any case the Director terminates service due to Disability. The benefit shall be distributed in accordance with the Payout Period. In the event the total benefits received by the Director pursuant to this Subsection are less than the total Survivor's Benefit [i.e., One Hundred Thousand Six Hundred Twenty Dollars ($100,620)], upon Director's death, an additional lump sum payment shall be made to Director's Beneficiary to make up the difference between these two (2) gross benefit amounts.
Disability Retirement Benefit. (a) A Member covered by this Appendix B shall only be eligible to receive a Disability Retirement Benefit if such Member became Totally and Permanently Disabled during the performance of job-related police duties pertaining to employment with the City, and arose out of and in the course of employment with the City.
Disability Retirement Benefit. (a) No Disability Retirement Benefit payable to a Member on account of the Member’s becoming Totally and Permanent Disabled during the performance of essential duties pertaining to employment by the City shall be equal to less than sixty-six and two-thirds percent (66 2/3%) of the Member’s annual rate of pay at the time he or she becomes Totally and Permanently Disabled.
Disability Retirement Benefit. A Member’s annual amount of Disability Retirement Benefit shall be an amount commencing on his Disability Retirement Date computed in accordance with Section 5.01 of this Article based on the Member’s Average Compensation as of his Disability Retirement Date but based on the Member’s Credited Service as of his attainment of age sixty (60), as if the Member were to continue to accrue Credited Service with the Employer. Such amount shall be reduced by three percent (3%) for each year that the Disability Retirement Date, or age sixty (60), if later, precedes the first day of the month coincident with or next following the Member’s attainment of age sixty-five (65).
Disability Retirement Benefit. If the Participant is eligible for unreduced Social Security benefits, the Participant’s Disability Retirement Benefit shall be determined pursuant to Section 3.1.2, without reduction for early commencement, but shall be no less than $100 per month. If the Participant is not eligible for unreduced Social Security benefits, the Participant’s Disability Retirement Benefit shall be determined according to the preceding sentence, then increased by $100 per month.
Disability Retirement Benefit. The Participant’s Disability Retirement Benefit shall be determined by multiplying the fixed rate provided below in effect on the date his Total and Permanent Disability commences, multiplied by the Participant’s Years of Credited Service as of such date:
