Examples of Retirement Benefit Payments in a sentence
Retirement Benefit Payments to defined contribution retirement benefit plans are recognized as an expense when employees have rendered service entitling them to the contributions.
The Administrative Committee, upon application by the Participant, shall grant him one or more successive one- (1-) year postponements of the date on which payment of Retirement Benefit Payments will commence.
If an Event of Insolvency occurs after the Retirement Benefit Commencement Date, then in lieu of any Retirement Benefit Payments due on, or payable after such Date, the Participant shall be entitled to (i) a Guaranteed Primary Benefit Payment for each month beginning on or after such Date and beginning on or before the earlier of the Causal Termination Date or the Guaranteed Full Payout Date; and (ii) an Insolvency Retirement Benefit Payment for the first month beginning after the close of each Plan Year.
Retirement Benefit Payments In order to allow sufficient time to receive final payroll records and process all retirement documents, your benefit payment for the first two (2) months is made by direct deposit directly to your account in a bank or other financial institution on the last working day of the second month of retirement.
Regardless of whether any postponement granted under this Section 5.1.2 is then in effect, the payment of Retirement Benefit Payments shall in all events commence with the first month of the first Plan Year beginning after the Retirement Date.
The maximum term of any Executive Benefit or Retirement Benefit Payments payable over time under the Agreement shall be twenty-five (25) years from the first date of payment of such Executive Benefit.
Retirement Plan, will provide the percentage of the final 36 months average Compensation, for life (15 years minimum) as illustrated below: Retirement Benefit Retirement Age Percentage 50&under 50.00%51 51.20%52 52.40%53 53.60%54 54.80%55 56.00%56 56.57%57 57.14%58 57.71%59 58.28%60 58.85%61 59.42%62 60.00%63 60.56%64 61.13%65&over 161.70% 1.B Commencement of Retirement Benefit Payments.
If an Event of Insolvency occurs after the Retirement Benefit Commencement Date, then in lieu of any Retirement Benefit Payments due on or payable after such Date, the Participant shall thereafter only be entitled to receive a Guaranteed Net Value Payment for each month beginning after the close of the Insolvency Year and ending on or before the earlier of the Causal Termination Date or the Guaranteed Full Net Value Payout Date.
The Administrative Committee, upon application by the Participant, shall grant him one or more successive five- (5-) year postponements of the date on which payment of Retirement Benefit Payments will commence.
To satisfy the requirements of this Section 5.2, (i) an application to the Administrative Committee for any five- (5-) year postponement must be submitted (on a form provided by the Committee) not less than three hundred sixty-five (365) days before the date prescribed for the payment of Retirement Benefit Payments to commence (as such date may have previously been postponed pursuant to this Section 5.2); and (ii) no such Payments shall have previously become due and payable.