Retirement Annuity. Unless the Participant elects to waive the application of this subsection in a manner satisfying the requirements of subsection (d) below, to the extent applicable to the Participant, within the 90-day period preceding his Annuity Starting Date (which election may be revoked, and if revoked, remade, at any time in such period), the vested Account due any Participant to whom this subsection (b) applies will be paid to him by the purchase and delivery to him of an annuity contract described in Section 8.02 providing a life annuity only form of benefit or, if the Participant is married as of his Annuity Starting Date, providing an immediate annuity for the life of the Participant with a survivor annuity for the life of the Participant's spouse (determined as of the date of distribution of the contract) which is 50 percent of the amount of the annuity which is payable during the joint lives of the Participant and such spouse. The Participant may elect to receive distribution of his benefits in the form of such annuity as of the earliest date on which he could elect to receive retirement benefits under the Plan. Within the period beginning 90 days prior to the Participant's Annuity Starting Date and ending 30 days prior to such Date, the Administrator will provide such Participant with a written explanation of (1) the terms and conditions of the annuity contract described herein, (2) the Participant's to make, and the effect of, an election to waive application of this subsection, (3) the rights of the Participant's spouse under subsection (d), and (4) the right to revoke and the period of time necessary to revoke the election to waive application of this subsection.
Retirement Annuity. Full-time and part-time A employees, who are appointed for at least four complete calendar months, participate in a defined contribution retirement plan administered by XXXX/CREF (the “pension plan”). Some of the key terms of the pension plan are summarized below. For all employees, participation in the pension plan is mandatory. For employees in TIER I (those hired and enrolled in TIAA/CREF before July 1, 1994 with no break in service2), the Foundation contributes 11% of the first $16,500 of the employee’s earnings during the calendar year, and 14% of the employee’s earnings over $16,500. Employees are immediately and fully vested in the employer contributions. For employees in TIER II (those hired on or after July 1, 1994, and before January 1, 2000, with no break in service*), there is a one-year waiting period to participate in the pension plan. The Foundation contributes 8% of the employee’s earnings during the first seven years of service (as defined in the Plan), and 10% of the employee’s earnings thereafter. Employees must make a mandatory employee contribution of 3% of his/her earnings (on a pre-tax basis) starting at the end of the one-year waiting period. Employees are immediately and fully vested in their employer contributions and employee contributions. For employees in TIER III (those first hired, or rehired after a break in service,* on or after January 1, 2000 and before January 1, 2009), there is a one-year waiting period to participate in the pension plan. The Foundation contributes 8% of the employee’s earnings from the 2nd through the 7th year of service (as defined in the Plan), and 10% of the employee’s earnings thereafter. Employees are fully vested in their employer contributions after three years of service. (The one-year waiting period counts toward this vesting requirement.) Employees must make a mandatory employee contribution of 3% of his/her earnings after completing three years of service. An employee’s own contributions are immediately and fully vested. For employees in TIER IV (those first hired, or rehired after a break in service,* on or after January 1, 2009), there is a one-year waiting period to participate in the pension plan. The Foundation contributes 8% of the employee’s earnings from the 2nd through the 7th year of service (as defined in the Plan), and 10% of the employee’s earnings thereafter. The employer contribution for each year is allocated to the plan in a lump sum as soon as practicable after the final pa...
Retirement Annuity. Full-time and part-time A employees, who are appointed for at least four complete calendar months, participate in a defined con- tribution retirement plan administered by TIAA/CREF (the “pen- sion plan”). Some of the key terms of the pension plan are summa- rized below. For all employees, participation in the pension plan is mandatory. For employees in TIER I (those hired and enrolled in TIAA/CREF before July 1, 1994 with no break in service2), the Foundation contributes 11% of the first $16,500 of the employee’s earnings during the calendar year, and 14% of the employee’s earn- ings over $16,500. Employees are immediately and fully vested in the employer contributions. For employees in TIER II (those hired on or after July 1, 1994, and before January 1, 2000, with no break in service*), there is a one-year waiting period to participate in the pension plan. The Foundation contributes 8% of the employee’s earnings during the first seven years of service (as defined in the Plan), and 10% of the employee’s earnings thereafter. Employees must make a mandatory employee contribution of 3% of his/her earnings (on a pre-tax basis) starting at the end of the one-year waiting period. Employees are immediately and fully vested in their employer contributions and employee contributions.
Retirement Annuity. Retirement Annuity" shall mean a series of income payments that may be provided under this Plan. Retirement Annuity is credited in a yearly amount equivalent to the total payment that would be made during one year in monthly installments commencing on the Annuity Commencement Date for such Retirement Annuity.
Retirement Annuity. Lincoln National Variable Annuity Account L GAC96-111; GAC91-101 Asset Manager - Initial Class GVA I, II, III Contrafund - Service Class 2 ------------------------------------------- ---------------------------------------------- ----------------------------------- Lincoln Life Flexible Premium Variable Life LN605/615 VUL I Asset Manager - Initial Class Account M Investment Grade Bond - Initial Class ---------------------------------------------- ----------------------------------- LN660 VUL, VUL(CV) II Contrafund - Service Class LN680 VUL(DB) ---------------------------------------------- ----------------------------------- ELITE SERIES: LN680 VUL(DB), LN690 VUL(DB) II, VUL(DB) IV Contrafund - Service Class MoneyGuard LN665 VUL(CV) II, VULFlex LN670 VUL(CV) III, VUL(CV) IV LN694 VUL(ONE)2005, LN695 Momentum VUL(ONE)2005 LN696 VUL(ONE)2007, Momentum VUL(ONE)2007 LN698 AssetEdge ------------------------------------------- ---------------------------------------------- ----------------------------------- </Table> <Page> <Table> <S> <C> <C> ------------------------------------------- ---------------------------------------------- ----------------------------------- Lincoln Life Variable Annuity Account N AN425 ChoicePlus Contrafund - Service Class 2 ---------------------------------------------- ----------------------------------- 30070-B ChoicePlus II Contrafund - Service Class 2 30070-B ChoicePlus II Access 30070-B ChoicePlus II Bonus 30070-B ChoicePlus II Advance ---------------------------------------------- ----------------------------------- 30070-B ChoicePlus Assurance (A Share/Class) Contrafund - Service Class 2 30070-B ChoicePlus Assurance (B Class) 30070-B ChoicePlus Assurance (B Share) 30070-B ChoicePlus Assurance (C Share) 30070-B ChoicePlus Assurance (L Share) 30070-B ChoicePlus Assurance (Bonus) 30070-B ChoicePlus Assurance (Prime) 30070-B, 30070-A 8/03 ChoicePlus Assurance (Series) 30070-B ChoicePlus Momentum Income Option 30070-CP-Design (all variations) ChoicePlus Design 30070-B ChoicePlus Rollover 30070-B ChoicePlus Signature 30070-A ChoicePlus Fusion 30070-B Investor Advantage(SM) 30070-A Investor Advantage(SM) Fee-Based Contrafund - Initial Class 30070-B Investor Advantage(SM) RIA ------------------------------------------- ---------------------------------------------- ----------------------------------- Lincoln Life Variable Annuity Account Q 28883, 28884, 28890, 28867, 28868, Contrafund - Service Class 28891, 28903 Group MultiFund -----...
Retirement Annuity. The Board of Directors of the Company will develop a plan for a trigger event to put into place a retirement annuity or other bonus award. Such plan shall be developed within six months of the Effective Date.
Retirement Annuity. An employee’s monthly retirement annuity at normal retirement date will be based upon one percent (1%) of annual earnings for service up to February 1989; one and a quarter percent (1 of annual earnings for service from March up to March and one and a thirty fifth percent (1.35%) for service from March up to March 1995; and one and a forty fifth percent (1.45%) from March up to March 1996; and one and a fifty fifth percent (1 from March up to March 1997; and one and a sixty fifth percent (1.65%) for services from March up to March and one and a percent(1.70%) for future service. Annual earnings are calculated exclusive of the premium pay portion of overtime compensation.
Retirement Annuity. An employee’s monthly retirement annuity at normal retirement date will be per month per year of service based on whole months of service with no limitation on service. Effective March the monthly retirement annuity was increased an additional for future service. Effective March the monthly annuity was increased an additional for future service. Effective March the monthly annuity for February service is increased to per month per year of service for future retirees.
Retirement Annuity. You will receive a monthly annuity payment based on 50% of your highest three consecutive average pay years effective the same date as this agreement that is not subject to reduction for any benefit(s) or form of survivor annuity, but is subject to a court order providing for division, allotment, assignment, execution, levy, attachment, garnishment, or other legal process. Unused sick leave will not be used in the computation of the phased retirement annuity. However, any unused sick leave will be taken into account at full retirement. Lump-sum credit, i.e., the retirement contributions credited to you in the Retirement Fund, will be reduced by the monthly annuity paid during phased retirement.
