Common use of Disability Retirement Benefit Clause in Contracts

Disability Retirement Benefit. An Active Participant who has suffered a Permanent Disability shall be entitled to receive during the period of his disability, with the first payment to be made on his Disability Retirement Date, a monthly Standard Form of Retirement Income which shall be equal to his Accrued Benefit payable at his Normal Retirement Date, reduced by one-fifteenth (1/15th) for each of the first five (5) years, one-thirtieth (1/30th) for each of the next five (5) years, and actuarially reduced for each additional year by which his Disability Retirement Date precedes his Normal Retirement Date. If it is subsequently determined that such Participant is no longer disabled, he shall not be entitled to further benefits as a result of such disability, and he shall only be entitled to such other benefits as may be provided under the terms of the Plan for which he was eligible as of his Disability Retirement Date, reduced by the disability retirement benefits paid. If such Participant returns to the employ of the Employer immediately following the termination of his Permanent Disability, he shall resume the classification of an Active Participant, and his employment with the Employer shall not be deemed interrupted. A Participant, who has severed employment prior to his Permanent Disability, will not be entitled to any benefits under this Section 5.4.