Benefit Service Sample Clauses

Benefit Service. Such Clergyperson shall receive Years of Service for Participation for the period of such uniformed service, provided that immediately prior to such uniformed service he/she was actually accruing benefits under this Plan. No more than five (5) Years of Service for Participation shall be granted under this provision.
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Benefit Service. The maximum years of Benefit Service to earn a full pension under the Plan is thirty (30) years.
Benefit Service. 14 SECTION 2. VESTING SERVICE.......................................... 15
Benefit Service. (A) Benefit Service is the period of Service counted in determining a Member's benefits (subject to Articles IV and V). It is the sum of Membership Service and Prior Service.
Benefit Service. Benefit Service will include the Participant’s aggregate periods of employment with the Company in a position that the Board has determined is eligible for benefit credit under the Plan (determined in periods of whole months), including periods before the Effective Date of this Plan. The Board has determined that employment in a position on the Company’s Executive Committee will be credited as Benefit Service, including periods before the adoption of the Plan.
Benefit Service. The term “Benefit Service” shall mean the Participant's years of service used to calculate his or her SERP III benefit, which shall be equal to the sum of his or her Vesting Service plus three (3) more years of service.
Benefit Service. The amount of your pension benefit is based on your years of Benefit Service as an active participant in the Retirement Plan. Benefit Service is determined as follows: Total Compensated Hours in a Calendar Year Benefit Service Service before January 1, 1958 N/A Determined by crediting full years and fractions of a year of six months or more as a full year and disregarding fractions of a year of less than six months. January 1, 1958 through March 31, 1969 N/A Determined by calculating the number of full years and fractions of years of Eligibility Service, rounded to the nearest full month. April 1, 1969 through December 31, 1977 1,500 or more 1,300 but less than 1,500 750 but less than 1,300 350 but less than 750 Less than 350 1 year ¾ of a year ½ of a year ¼ of a year none January 1, 1978 and forward 1,500 or more 1,125 but less than 1,500 750 but less than 1,125 350 but less than 750 Less than 350 1 year ¾ of a year ½ of a year ¼ of a year none (Note that a special rule applied to the short plan year running from June 1, 2004, through December 31, 2004. Please ask for more details.) Hours compensated at overtime or premium rates are counted as straight time hours. You will not receive more than one year of Benefit Service in any calendar year, whether the Benefit Service is granted under this Plan or in combination with Benefit Service from an affiliated Company plan. Full and Part-time Union Service Benefit Service will be granted for full and part-time union service subject to the limitations noted under Loss, Reduction or Delay of Benefits.
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Related to Benefit Service

  • Years of Service Any teacher placed on such leave may engage in teaching or any other occupation during such period, may be eligible for unemployment insurance if otherwise eligible for such compensation under the law, and such leave will not result in a loss of credit for years of service in the School District earned prior to the commencement of such leave.

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Annual Compensation The Executive’s “Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Date of Termination occurs.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

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