Special Pension Benefits Sample Clauses

Special Pension Benefits. In addition to your regular normal or early retirement pension benefit, you may be eligible for a special Medicare benefit or a supplemental benefit. The Plan also provides a special temporary benefit in the event you become permanently disabled or experience a layoff.
Sample 1
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Special Pension Benefits. In addition to Employee's regular benefit entitlement under the Pension Plan of Hercules Incorporated, Employee will be granted a special pension benefit payable under the Hercules Employee Pension Restoration Plan of $13,172.59 per month effective July 1, 2001, such amount payable until age 55 after which the amount will be $11,312.43, subject to optional forms of payment elections pursuant to the Pension Plan of Hercules Incorporated. This benefit is derived by adding 5-1/2 years to Employee's current age and three years to Employee's current credited service, then using these additions to calculate Employee's pension entitlement pursuant to the Pension Plan of Hercules Incorporated and subtracting the benefit calculated not using these additions. The total lifetime benefit from all Plans will be $14,376.95 per month payable as a single life annuity. Additionally, Employee shall be entitled to a special pension benefit of $16,677 per year payable in monthly installments for a period commencing July 1, 2001 and ending June 30, 2011. This benefit is not subject to the 5l% lump sum payment option but is subject to the normal joint and survivor option election provisions of the Pension Plan of Hercules Incorporated.
Sample 1
Special Pension Benefits 
Sample 1

Related to Special Pension Benefits

  • 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. .

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • 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.

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