Accrued Retirement Benefit Sample Clauses

Accrued Retirement Benefit. A monthly benefit payable to the Participant's Pre-Retirement Beneficiary which shall be actuarially equivalent to the Participant's Accrued Normal Retirement Benefit determined as of the date of death.
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Accrued Retirement Benefit. The term “Accrued Retirement Benefit,” as of a given date, shall mean an annual amount of Retirement Benefit to which a Member would be entitled, determined pursuant to Section 5.01 hereof, commencing on his Normal Retirement Date using his Average Compensation and Credited Service determined as of such date in lieu of the corresponding amounts determined as of his Normal Retirement Date. In no event shall the amount of Accrued Retirement Benefit be less than the Member’s Accrued Retirement Benefit on February 16, 1983, determined in accordance with the provisions of the Prior Plan in effect on such date. [This Section is effective for all dates before and including September 30, 2011.]
Sample 1
Accrued Retirement Benefit. The term “Accrued Retirement Benefit,” as of a given date, shall mean an annual amount of Retirement Benefit to which a Member would be entitled, determined pursuant to Section 5.01 hereof, commencing on his Normal Retirement Date using his Average Compensation and Credited Service determined as of such date in lieu of the corresponding amounts determined as of his Normal Retirement Date. In no event shall the amount of Accrued Retirement Benefit be less than the Member’s Accrued Retirement Benefit on February 16, 1983, determined in accordance with the provisions of the Prior Plan in effect on such date. The Accrued Retirement Benefit of a Member who, as of September 30, 2011, has or had less than twenty (20) years of Credited Service, shall be limited to and not exceed Fifty Percent (50%) of the Average Compensation of the Member determined as of his Normal Retirement Date
Sample 1
Accrued Retirement Benefit. The term “Accrued Retirement Benefit,” as of a given date, shall mean an annual amount of Retirement Benefit to which a Member would be entitled, determined pursuant to Section 5.01 hereof, commencing on his Normal Retirement Date using his Average Compensation and Credited Service determined as of such date in lieu of the corresponding amounts determined as of his Normal Retirement Date. In no event shall the amount of Accrued Retirement Benefit be less than the Member’s Accrued Retirement Benefit on February 16, 1983, determined in accordance with the provisions of the Prior Plan in effect on such date. The Accrued Retirement Benefit of a Member who, as of September 30, 2011, has or had less than twenty (20) years of Credited Service, shall be limited to and not exceed Fifty Percent (50%) of the Average Compensation of the Member determined as of his Normal Retirement Date or other Severance from Service Date related to retirement, disability or death.” [This Section is effective beginning October 1, 2011, and thereafter.] Notwithstanding any provisions of the Plan to the contrary, a Member’s Accrued Retirement Benefit shall be fixed and determined as of the earlier of (a) the conclusion of the pay period which corresponds to paychecks distributed to Employees on December 4, 2014, or (b) the date the benefit accruals of the Member otherwise ceased under the provisions of the Plan. The date as of which the Member’s Accrued Retirement Benefit is fixed and determined under the preceding sentence shall be the Member’s “Accrued Retirement Benefit Freeze Date”.
Sample 1

Related to Accrued Retirement Benefit

  • 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.

  • 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. .

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Accrued Benefits The term "Accrued Benefits" shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

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