Normal Pension Sample Clauses

Normal Pension. Pension payable for life with the provision that, upon death, the beneficiary will receive the excess, if any, of the accumulated member contributions with interest over the sum of the pension payments made.
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Normal Pension. A Member is eligible for a Normal Pension as of his Normal Retirement Date which is the first day of the calendar month which next follows the latest of:
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Normal Pension. Each Member who terminates employment with the Company and qualifies for a Normal Pension on or after the date of ratification (“Date of Ratification”) of the Collective Bargaining Agreement, shall be entitled to receive a monthly amount, in the applicable form described in Section 5.4, equal to:
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Normal Pension. An Employee who is eligible for a pension pursuant to Paragraph 1 of Article IV shall be entitled upon his retirement at or after his Normal Retirement Date and on or after the Effective Date to receive a monthly pension equal to (a) $60.00 (effective for retirements occurring after August 17, 2017), multiplied by the Employee's years of credited service reduced by (b) the immediate annuity equivalent of the Employee's Additional Employer Contributions Account under the Bridgestone Americas , Inc. Employee Savings Plan for Bargaining Unit Employees (the "Savings Plan") as of the date his pension commences hereunder. For purposes of this calculation, the Employee's Additional Employer Contributions Account under the Savings Plan as of the date the Employee's pension commences hereunder shall mean the actual amount in such Account as of such date plus any amount withdrawn from such Account prior to such date for any reason (including a hardship withdrawal pursuant to Section 6.7 of the Savings Plan, any amount withdrawn from such Account pursuant to a qualified domestic relations order or a deemed withdrawal upon default of a loan from such Account to the Employee) with interest imputed on any withdrawn amount from the date of any such withdrawal through the date the Employee's pension commences hereunder at the rate of 7.75% per annum compounded monthly. The immediate annuity equivalent of the Employee's Additional Employer Contribution Account under the Savings Plan shall be the amount in such Account as of the date the Employee's pension commences hereunder (determined as described in the preceding sentence) converted to an annuity payable as a single life and five year certain annuity to the Employee commencing as of the date the Employee's pension commences hereunder using an interest rate of 7.75% and the 1983 Group Annuity Mortality Table, Male. In no event will this reduction exceed $7 multiplied by the Employee's years of credited service. For purposes of this Paragraph, the amount of an Employee's Normal Pension shall be the greater of the Early Pension calculated under Paragraph 2 of this Article V or the Normal Pension calculated at normal retirement age. Such pension shall be subject to the provisions of Paragraph 5 of this Article V, and shall commence in the month following that in which the Employee retires if an application is made therefor in the month of retirement. In the event application is not made in the month of retirement, the pensi...
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Normal Pension. The term “
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Normal Pension. The Parties, during this collective agreement, agree to investigate the cost benefits of converting from an to Pension Plan including the cost sharing of converting previous service for Local employees, and should it be deemed appropriate by the Corporation and Local that joint submission be made to the Provincial government and Board of Directors requesting their approval to offer an Plan to eligible Homes for the Aged employees, with consideration to convert past service under the existing Plan to an Plan. VACATION SCHEDULING MARCH BREAK AND
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Related to Normal Pension

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Dental Benefit (1) A confirmed staff shall be eligible for reimbursement of expenses incurred for restorative and preventive dental treatment up to $150 per calendar year.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

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