Common use of Supplemental Retirement Clause in Contracts

Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to Seventy Thousand Seven Hundred and Four Dollars ($70,704) at age 65 if paid entirely from the Accrued Benefit Account or Forty-Eight Thousand and Seventy-Nine Dollars ($48,079) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions).

Appears in 1 contract

Samples: Deferred Compensation Agreement (First Bancorp of Indiana Inc)

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Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to Seventy One Hundred Two Thousand Seven Three Hundred and Four Sixty-Two Dollars ($70,704102,362) at age 65 if paid entirely from the Accrued Benefit Account or FortySixty-Eight Five Thousand Five Hundred and Seventy-Nine Twelve Dollars ($48,07965,512) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions).. Exhibit A

Appears in 1 contract

Samples: Executive Supplemental Retirement Income Agreement

Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to Seventy Fifty-Four Thousand Seven Six Hundred and Four Ninety-Six Dollars ($70,70454,696) at age 65 if paid entirely from the Accrued Benefit Account or FortyThirty-Eight Thousand and Seventy-Nine Fourteen Dollars ($48,07938,014) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! · the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions).

Appears in 1 contract

Samples: Deferred Compensation Agreement (First Bancorp of Indiana Inc)

Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to Seventy Seventy-Two Thousand Seven Three Hundred and Four Twenty-Eight Dollars ($70,70472,328) at age 65 if paid entirely from the Accrued Benefit Account or FortyFifty-Eight Two Thousand and Seventy-Nine Six Dollars ($48,07952,076) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions).

Appears in 1 contract

Samples: Executive Supplemental Retirement Income Agreement (United Community Bancorp)

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Supplemental Retirement. Income Benefit means an actuarially determined annual amount equal to Seventy One Hundred Two Thousand Seven Three Hundred and Four Sixty-Two Dollars ($70,704102,362) at age 65 if paid entirely from the Accrued Benefit Account or FortySixty-Eight Five Thousand Five Hundred and Seventy-Nine Twelve Dollars ($48,07965,512) at age 65 if paid from the Retirement Income Trust Fund. The Supplemental Retirement Income Benefit: ! the definition of Supplemental Retirement Income Benefit has been incorporated into the Agreement for the sole purpose of actuarially establishing the amount of annual Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account). The amount of any actual retirement, pre-retirement or disability benefit payable pursuant to the Agreement will be a function of (i) the amount and timing of Contributions (or Phantom Contributions) to the Retirement Income Trust Fund (or Accrued Benefit Account) and (ii) the actual investment experience of such Contributions (or the monthly compounding rate of Phantom Contributions).

Appears in 1 contract

Samples: Executive Supplemental Retirement Income Agreement (Magyar Bancorp, Inc.)

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