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

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

  • In the event that this Plan is terminated, and the available Plan assets are less than the value of all Accrued Pension Benefits, your Accrued Pension Benefit may be reduced.

  • Your Accrued Pension Benefit may be forfeited if you are convicted of certain felonies as provided by State law (F.S. 112.3173).

  • This benefit is equal to your Accrued Pension Benefit as of your date of separation multiplied by your Vested Interest.

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

  • For purposes of this calculation, the Participant’s Accrued Pension Benefit and City Funded Retirement Income Account shall be expressed in the form in which Disability Benefits are payable to the Participant.

  • Separate cost of living adjustment shall be made with respect to the payment of the Participant’s Disability Benefit and Accrued Pension Benefit following the Participant’s Normal Retirement Date (subject to all of the limitations and provisions of Section 5.16 and this Section 6.11).

  • A Participant who has completed at least 30 Years of Credited Service and whose Employment Commencement Date was prior to October 23, 2013 may voluntarily elect, pursuant to this Section 6.4, to retire for purposes of calculating his or her Accrued Pension Benefit, continue working as a Covered Employee for a period of up to 3 years, and defer commencement of his or her Accrued Pension Benefit until his or her DROP Retirement Date.

  • Separate cost of living adjustment shall be made with respect to the payment of the Participant’s Disability Benefit and Accrued Pension Benefit following the Participant’s Disability Retirement Date (subject to all of the limitations and provisions of Section 5.16 and this Section 6.11).

  • In the case of a Participant who becomes Disabled on or after reaching his or her Normal Retirement Date, the Participant’s Disability Benefits under this Plan shall be equal to the Participant’s Disability Benefits, as computed under Article 5, less the sum of the Participant’s Accrued Pension Benefit under Article 6 and, if applicable, the amount of his or her City Funded Retirement Income Account.


More Definitions of Accrued Pension Benefit

Accrued Pension Benefit has the meaning set forth in Section 5.8(e)(i)(C).
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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 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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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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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.

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

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

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

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • 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 described in Section 2.4.

  • 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 Company and its Affiliates 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, 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; 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 as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer'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.

  • 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.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan which contains a “defined benefit provision,” as defined in subsection 147.1(1) of the Income Tax Act (Canada).