Common use of Benefit Payment Clause in Contracts

Benefit Payment. The benefit accrued by an employee under either Section 29.01 or 29.02, above, shall not be payable until retirement at the earliest of the following: 1. age fifty-five (55) and fifteen (15) years of service; 2. age sixty-two (62) and five (5) years of service; or, 3. thirty (30) years of service regardless of age.

Benefit Payment. The benefit accrued by an employee under either Section 29.01 paragraphs A or 29.02B, above, shall not be payable until retirement at the earliest of the following: 1. age fifty-five (55) and fifteen (15) years of service; 2. age sixty-two (62) and five (5) years of service; or, 3. thirty (30) years of service regardless of age.

Benefit Payment. The benefit accrued by an employee under either Section 29.01 paragraphs A. or 29.02B., above, shall not be payable until retirement at the earliest earlier of the following: 1. age fifty-five (55) and fifteen (15) years of service; 2. service or age sixty-two (62) and five (5) years of service; or, 3. or after thirty (30) years of service regardless of age.