Deferred Vested Pension Benefit Sample Clauses

Deferred Vested Pension Benefit. Commencing with the monthly benefit payable January 1, 1985, the amount of the monthly retirement benefit payable out of the Pension Trust Fund for a former Employee who shall be eligible for a deferred vested pension benefit under the provisions of Section 4.04 of the Plan or under the provisions of the Prior Pension Plan shall be whichever of the following is applicable:
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Deferred Vested Pension Benefit. The monthly retirement benefit payable out of the Pension Fund for an employee who shall be eligible for a deferred vested pension benefit under the provisions of Article IV, Section 6, of the Plan shall be whichever of the following is applicable:
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Deferred Vested Pension Benefit for an employee who terminates or loses his under the Collective Agreement in effect at the time of such loss of seniority provided such employee on June has been continuously employed by the Company for at least ten (10) years. The benefit will be a deferred vested benefit which will start at such employee's Normal Retirement Age if he shall then be living and shall be equal to the Normal Retirement Benefit accrued up to the date of his termination. Deferred Vested Pension Benefit for an employee other than an employee covered by Paragraph (a) above, who terminates or loses his seniority under the Collective Agreement in effect at the of such loss of seniority provided such employe is years of age or and has been continuously employed by the for at least ten (10) years immediately prior to such termination or loss of seniority. the benefit will be a deferred vested benefit which will start at such employee’s Normal Retirement Age if shall then be living and shall be equal to the Normal Retirement Benefit accrued up to the date of his termination. The Retirement Benefit Shall be payable for life only and ceases on death. Optional forms of pension which will be the actuarial equivalent of the Normal Retirement Benefit may be selected in lieu of the Normal Retirement Benefit. Optional Forms of Benefit The following optional forms are retirement benefits which will be available to the employee, based on election made prior to his Normal Retirement date, The amount of benefit Payable will be the actuarial equivalent of the employee’s normal retirement benefit.
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Related to Deferred Vested Pension Benefit

  • 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.

  • 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.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • Dental Benefit (1) A confirmed staff shall be eligible for reimbursement of expenses incurred for restorative and preventive dental treatment up to $150 per calendar year.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • 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. .

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

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