Payment of Retirement Benefits. Except as otherwise provided herein, the benefit at retirement is paid as calculated by the Fiscal Services Office of the Diocese and as approved by the Xxxxxx as of the date of retirement and monthly thereafter on the first day of each month for the life of the priest (but cf. 7.4 infra).
Payment of Retirement Benefits. Compensation paid as follows:
Payment of Retirement Benefits. 4.1 No benefits are payable under this Agreement if the Participant is discharged for Cause (as defined in Section 2.2) or engages in Competition with the Company (as defined in Section 2.2) or if the Participant voluntarily terminates his employment with the Company prior to the Participant's Normal Retirement Date.
Payment of Retirement Benefits. In the event of the Normal or Late Retirement Date of a Participant, a Participant may elect to receive, in accordance with Section 5 of this Article, the full value of the
Payment of Retirement Benefits. 6.1 Normal Form of Benefit ---------------------- Except as otherwise provided in the applicable Supplement, a Participant's benefit shall be paid in the form of a 100% Joint and Survivor's Annuity, with the Participant's spouse as joint annuitant if the Participant is married on the Annuity Starting Date, and in the form of an Individual Life Annuity if the Participant is not married on the Annuity Starting Date, unless the Participant elects not to receive payments pursuant to this Section 6.1 and to receive payments in one of the optional forms permitted under Section 6.2. An election not to receive the normal form of benefit and to receive payment in an optional form shall satisfy the applicable requirements of Section 6.3.
Payment of Retirement Benefits. Except as otherwise provided in this Agreement, the Normal Retirement Benefit calculated under Section 2, above, shall be payable to the Executive following the termination of the Executive's employment for any reason other than Cause only as follows:
Payment of Retirement Benefits. (a) Upon the happening of any of the events set forth below at any time after the date hereof, Employee shall be entitled to receive Retirement Benefits payable in accordance with Employer's Retirement Benefit Plans in which Employee then participates. If such event occurs at any time from the date hereof through December 31, 2002, the Retirement Benefits shall be calculated as if the Employee was age 58 rather than actual age at the time of the event. If such event occurs at any time from January 1, 2003 through May 31, 2012, the Retirement Benefits shall be calculated as if the Employee was age 62 rather than actual age at the time of the event; provided, however, that the portion of Employee's Retirement Benefits under the Employer's Retirement Plan (as referred to in Section 1(l)(iv) above) shall be calculated without making any age adjustment. Employee shall be entitled to the Retirement Benefits in the event any of the following occurs:
Payment of Retirement Benefits. 1. The payment of a Member's retirement benefits shall not commence earlier than the Member attaining age 50, except on retirement on grounds of Incapacity, nor later than attaining age 75.
Payment of Retirement Benefits. (a) Upon the happening of any of the events set forth below, Employee shall be entitled to receive Retirement Benefits payable in accordance with Employer's Retirement Benefit Plans in which Employee then participates. If such event occurs at any time prior to December 31, 2002, the Retirement Benefits shall be calculated as if the Employee was age 58 rather than actual age at the time of the event. If such event occurs at any time from January 1, 2003 through May 31, 2012, the Retirement Benefits shall be calculated as if the Employee was age 62 rather than actual age at the time of the event; provided, however, that the portion of Employee's Retirement Benefits under the Employer's Retirement Plan shall be calculated without making any age adjustment. Employee shall be entitled to the Retirement Benefits in the event any of the following occurs:
Payment of Retirement Benefits. As soon as administratively feasible after the Committee has credited and adjusted a Participant's Individual Accounts as provided in Section 6.1, the Trustee shall make payments to the Participant pursuant to Article X. Subject to the mandatory distribution requirements of Section 6.4, the survivor annuity requirements of Section 6.5, if applicable, and the immediate cashout provisions of Sections 9.3(b) and 9.3(c), payments shall begin as soon as administratively feasible after the Participant attains Normal Retirement Age, whether or not the Participant actually retires or elects to receive retirement benefit distributions after attaining Normal Retirement Age. The Committee shall charge each payment to the Participant's Individual Account and payment shall continue until death (when Article VII shall control the disposition of the deceased Participant's Nonforfeitable Account Balance) or until the Nonforfeitable Account Balance is paid to the Participant in full, whichever event shall occur first. Unless a Participant elects otherwise, payment of benefits shall commence as soon as administratively feasible after the end of the Plan Year in which the latest of the follow events occur: (a) the date on which the Participant attains the earlier of age sixty-five (65) or Normal Retirement Age under the Plan; (b) the tenth (10th) anniversary of the year in which the Participant commenced participation in the Plan; or (c) the date on which the Participant terminates service with the Employer. Notwithstanding the foregoing, a Participant may not defer commencement of benefits or elect a form of installment payment which would result in the Participant receiving less than fifty-one percent (51%) of the total benefits to be paid during the Participant's life expectancy.
