Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.
Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.
Retirement Benefit means the benefit set forth in Article 5.
Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).
lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.
Actuarial equivalent means a benefit of equal value when
Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.
Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.
Disability Retirement Date means the first day of the month following the last day of paid employment;
Extended benefit period means a period which:
Normal Retirement Age means the Executive's 65th birthday.
Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.
Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.
Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—
Early Retirement Benefit means the retirement benefit payable to a member following early
Termination Benefit means the benefit set forth in Article 7.
occupational pension means any pension or other periodical payment under an occupational pension scheme but does not include any discretionary payment out of a fund established for relieving hardship in particular cases;
Starting Date means the date referred to in Clause 3.3 hereof;
war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;
Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.
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.
Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.
Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.
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.
state pension credit means state pension credit under the State Pension Credit Act 2002;