Lump Sum Benefit. Notwithstanding Sections 2.1.2, 2.2.2, 2.3.2 or 2.5.2 above, upon a Termination of Employment after a Change in Control Event, the Executive may elect to receive a lump sum payment equal to the lump sum present value of the payments described in Sections 2.1.2, 2.2.2, 2.3.2 or 2.5.2 above, whichever is applicable, where such present value is to be determined using a discount rate equal to the applicable federal rate in effect on the date of the Change in Control Event for purposes of determining present value of payments subject to the non-deductibility and excise tax provisions of Section 280G and Section 4999 of the Code, respectively, and regulations thereunder.
Lump Sum Benefit. Notwithstanding anything to the contrary in the Plan, in the event that, under the terms of the Plan, the Enhanced SERP shall be payable in a lump sum, the amount of such lump sum shall be determined using a discount rate equal to 7%.
Lump Sum Benefit. An employee who is eligible for IMRF retirement and who has been an employee in NSSD for 8 consecutive years shall be entitled to a one-time, lump sum payment of $1,500. An eligible employee who gives an irrevocable letter of resignation with notice of two months, will be paid the sum payment to be paid according to IMRF rules. To the extent eligible, the applicable benefits of this Article shall not be applicable to employees who leave the employment of the District for reasons other than retirement, such other reasons including, but not limited, to dismissal for cause.
Lump Sum Benefit. In the event that a lump sum election was made and is in effect, the computation of a single sum benefit shall be determined as provided in Section 2.1.
Lump Sum Benefit. The amount of the death benefit shall be equal to a multiple of fifty (50) of the Participant’s monthly Pension benefit as of the Participant’s Benefit Commencement Date subject to the maximum amount specified in Section 9.03 of the Plan.
Lump Sum Benefit. The lump sum benefit shall be as indicated on the "Benefit Supplement" which is attached hereto. The lump sum benefit shall be paid to the Employee irrespective of whether said Employee terminates employment and engages in competition with Bank and/or its successor.
Lump Sum Benefit. The Individual Gross Settlement Benefit for Class Members originally paid a lump sum is equal to the Initial Underpayment times the Interest Accumulation Factor and times the Relative Litigation Risk Factor.
Lump Sum Benefit. In the event that a lump sum payment is to be made, the computation of a single sum benefit will be determined as follows: i) the monthly benefit will be determined under the appropriate paragraph of Article 2 herein, and ii) the single sum benefit will be determined by computing the present value of the projected stream of benefit payments using a discount rate equal to the then current 10 Year treasury rate, and a 180 month term of benefit payments.
Lump Sum Benefit. The computation of a single sum benefit shall be determined as provided in Section 2.1.4.
Lump Sum Benefit. An employee who is eligible for IMRF retirement and who has been an employee in NSSD for ten (10) consecutive years shall be entitled to a one-time, lump sum payment of $4,000.00. An eligible employee who gives an irrevocable letter of resignation with notice of two months, will be paid the sum payment no later than sixty (60) calendar days after the effective date of the resignation and such payment will not be considered creditable earnings under IMRF rules. To the extent eligible, the applicable benefits of this Article shall not be applicable to employees who leave the employment of the District for reasons other than retirement, such other reasons including, but not limited, to dismissal for cause.
