Defined Benefit Fund. As soon as administratively possible after termination of employment or death, the administrator shall pay the Participant or Beneficiary if applicable, the account balance as requested. The Participant may elect to receive the benefit in any of the Benefit options permitted under the plan. The benefit shall be the Actuarial Equivalent of the account balance at the time the benefit commences. This option shall be effective [include the earlier of the date this Option was originally adopted in a Joinder Agreement or the date of adoption in the current Plan Year].
Defined Benefit Fund. (i) Employees who are currently part of the JDA Defined Benefit Division (Defined Benefit Plan) of the Lend Lease Superannuation Plan (LLSP), and who were Employees of the Company prior to 1 January 1999, may continue to be members of the Defined Benefit Plan of the LLSP for the life of this Agreement. The Defined Benefit Plan is non-contributory, and provides a Company Benefit calculated at 12.75% (after Federal Government contributions tax) from the date of operation of this Agreement, for each year of membership, multiplied by the Employee's ordinary time earnings over the previous three (3) years of service.
Defined Benefit Fund. The membership multiple is suspended for the unpaid leave period in the calculation of resignation, retrenchment or retirement benefits. The member's Death and Total and Permanent Disablement benefit payable prior to the leave will be maintained until permanent employment is resumed. The cost of this cover is met by the Company. • Flexible Benefits Accumulation Fund No member or company contributions will be payable to the member's account during the period of unpaid leave. The member's account will continue to receive interest at the Fund's earning rate declared annually less tax and expenses. The member's Death and Total and Permanent Disablement benefit payable prior to the leave will be maintained until permanent employment is resumed.
