Accrued Pension Benefit definition

Accrued Pension Benefit has the meaning set forth in Section 5.8(e)(i)(C). “Acquired Assets” has the meaning set forth in Section 2.1.
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Accrued Pension Benefit means, for any such Transferred Employee, the pension benefit payable to such Transferred Employee under Seller’s Pension Plan at such Transferred Employee’s retirement, which shall be calculated based upon (A) the pension benefit formula under the Seller’s Pension Plan applicable to such Transferred Employee as of the Closing Date, as adjusted to incorporate the provisions of the CBA MOA, (B) such Transferred Employee’s years of credited service with Seller (or its applicable Affiliates) as of the Closing Date, (C) such Transferred Employee’s final average earnings (as specified in the Seller’s Pension Plan) as of the Closing Date, and (D) such Transferred Employee’s covered compensation as of the Closing Date.
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Accrued Pension Benefit means, for any such Transferred Employee, the pension benefit payable to such Transferred Employee under Seller’s Pension Plan at such Transferred Employee’s retirement, which shall be calculated based upon (A) the pension benefit formula under the Seller’s Pension Plan applicable to such Transferred Employee as of the Closing Date, (B) such Transferred Employee’s years of credited service with Seller (or its applicable Affiliates) as of the Closing Date, (C) such Transferred Employee’s final average earnings (as specified in the Seller’s Pension Plan) as of the Closing Date, and (D) such Transferred Employee’s covered compensation as of the Closing Date.
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Examples of Accrued Pension Benefit in a sentence

  • Your annual Accrued Pension Benefit reported on your annual statement is the Normal Form of Retirement Benefit.

  • An Accrued Pension Benefit is subject to a “locked-in” provision as prescribed and is required by the Federal Legislation (PBSA).

  • This calculation takes into consideration your total Accrued Pension Benefit, your age and prescribed interest rates at the date of termination.

  • As long as you remain employed by a participating employer you will not have the option of a terminated employee to transfer the commuted value.Bridging your Pension BenefitIf you chose to defer your Accrued Pension Benefit when your employment was terminated you are considered to be a Terminated Vested Member.

  • Accrued Pension BenefitThe portion of your Normal Retirement Benefit that you have earned at any point in time is called your Accrued Pension Benefit.

  • You also become vested in your Accrued Pension Benefit if you are an Active Employee at the time you reach your Normal Retirement Date.

  • Your Accrued Pension Benefit is computed using the formula shown above, except your Earnings Base and Credited Service are determined as of the date of the calculation.

  • Such data locality-based task allocation has been presented in the literature [5, 10].– List-based task scheduling algorithm (HEFT [34] and PEFT [36]): Heterogeneous earliest finish time (HEFT) is a well-known task scheduling algorithm that is widely employed in real systems such as ASKALON [35].

  • Your normal retirement pension starting on or after your Normal Retirement Date is based on your Accrued Pension Benefit as of the date of your retirement.

  • Early Retirement If you are an Active Employee and are between 55 and 65 years old and have a Vested Accrued Pension Benefit (see “How Do I Become Vested in My Pension Benefits?” in Section 3) and you want to retire before age 65, you may do so and receive a reduced early retirement pension.


More Definitions of Accrued Pension Benefit

Accrued Pension Benefit shall have the same meaning accorded to such words in the Retirement Plan.
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Accrued Pension Benefit means the accrued benefit of a Member expressed as a monthly annuity beginning at Normal Retirement Date determined under Section 3.1 on the basis of the Member's Years of Service to the date as of which the computation is made.
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Accrued Pension Benefit means the monthly benefit to which a Participant is entitled under the defined benefit portion of the Plan on or after the Effective Date pursuant to the provisions of Section 6.1, expressed as a single life annuity commencing at the Participant’s Normal Retirement Date or the Actuarial Equivalent thereof. The Accrued Pension Benefit as of any date preceding the Participant’s Normal Retirement Date shall be a monthly benefit commencing on the Participant’s Normal Retirement Date and continuing for his or her life, calculated in the same manner as a normal retirement benefit and based upon the benefit earned by such Participant as of the date of determination.
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Related to Accrued Pension Benefit

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Termination Benefit means the benefit set forth in Article 7.

  • SERP Benefit means the benefit described in Section 5.1.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Disability Benefit means the benefit set forth in Article 8.

  • Accrued Benefit have the meanings specified in ERISA.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Actuarial equivalent means a benefit of equal value when

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.