Drop benefit definition

Drop benefit means, for a participant, an amount credited to the participant’s account each applicable month equal to the member’s applicable percentage multiplied by the member’s participant retirement amount.
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Drop benefit means the benefit calculated for a DROP participant in accordance with the provisions of section 742.442 of the Revised Code and rule 742-4-06 of the Administrative Code, but subject to the provisions of division (C) of section 742.444 and section 742.445 of the Revised Code.
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Drop benefit means the lump-sum benefit calculated and distributed as provided in this part.
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Examples of Drop benefit in a sentence

  • At times there is a special occasion.These are the times when a certain sophistication is required.

  • While the nomenclature used in the Pension Statute resembles that of an arrangement requiring additional disclosures under GASB 67, the COAERS Backward Drop benefit is technically different.• The lump-sum death benefit payable upon the death of a retiree is $10,000.• There is no guaranteed cost of living increase.

  • While the nomenclature used in the Pension Statute resembles that of an arrangement requiring additional disclosures under GASB 67, the COAERS Backward Drop benefit is technically different.x The lump-sum death benefit payable upon the death of a retiree is $10,000.x There is no guaranteed cost of living increase.Contributions.

  • The Chilean financial system has avoided major financial disruption in the period since 1982, indicating that the BCCh has met its financial stability mandate.


More Definitions of Drop benefit

Drop benefit means the lump-sum benefit calculated and distributed as provided in this part. (3)(4) "DROP period" means the period of time that a member irrevocably elects to participate in the
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Drop benefit means a DROP participant's total DROP account balance at the time the DROP participant terminates employment.
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Drop benefit means, for a participant, an amount credited to the participant's account each applicable month equal to the member's applicable percentage multiplied by the member's participant retirement amount.
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Drop benefit means the lump-sum benefit calculated and distributed as provided in [sections 5through 12].
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Related to Drop benefit

  • 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.

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

  • 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.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty Six Thousand Three Hundred and Seventy Three dollars ($66,373) for a period of Fifteen (15) years.

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

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

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

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Actuarial equivalent means a benefit of equal value when

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).