Accrued retirement benefit means two and one-half percent (2 1/2%) of the firefighter's final average salary multiplied by the member's years of credited service not to exceed thirty (30) years;
Accrued retirement benefit means two and one-half percent
Accrued retirement benefit means, in relation to any Eligible Director that is a member of the Board on the Plan Effective Date, the amount set forth opposite such Eligible Director's name on Schedule A annexed hereto, which amount corresponds to the present value of the annual retirement benefits that would be payable to such Eligible Director under the Fluor Corporation Retirement Plan for Outside Directors following his or her mandatory retirement based on years of service prior to the Plan Effective Date and life expectancy after retirement, assuming a discount rate approximating the interest rate on 30-year treasury obligations of the United States government.
Examples of Accrued retirement benefit in a sentence
Accrued retirement benefit for directors and corporate auditors is an esti- mated payment amount based on internal rules.
Accrued retirement benefit for this purpose is calculated in a manner consistent with the benefits provided by the plan, in particular the early retirement benefit.
Accrued retirement benefit for directors and corporate audi- tors have been made for the vested benefits to which they were entitled if they were to retire or sever immediately at the balance sheet date.
More Definitions of Accrued retirement benefit
Accrued retirement benefit means as to each Participant a monthly benefit that is equal to the Participant’s Normal Retirement Benefit computed as of any date in accordance with Section 2.2(a).
Accrued retirement benefit means the amount of a prospective retirement benefit attributable to past membership or service determined in accordance with Professional Standard 402 (Determination of Accrued Benefits for Defined Benefit Superannuation Funds).
Accrued retirement benefit as of a given date, shall mean an annual amount of Retirement Benefit to which a Member would be entitled, determined pursuant to Section 5.01 hereof, commencing on his Normal Retirement Date using his Average Compensation and Credited Service determined as of such date in lieu of the corresponding amounts determined as of his Normal Retirement Date. In no event shall the amount of Accrued Retirement Benefit be less than the Member’s Accrued Retirement Benefit on February 16, 1983, determined in accordance with the provisions of the Prior Plan in effect on such date. The Accrued Retirement Benefit of a Member who, as of September 30, 2011, has or had less than twenty (20) years of Credited Service, shall be limited to and not exceed Fifty Percent (50%) of the Average Compensation of the Member determined as of his Normal Retirement Date or other Severance from Service Date related to retirement, disability or death.” [This Section is effective beginning October 1, 2011, and thereafter.]
Accrued retirement benefit means, as of any date before a Director's ---------------------------- Normal Retirement Age, that cumulative portion of a Director's Retirement Benefit which he has earned in accordance with the schedule attached to his Signature Page. In order to accrue an additional benefit for any calendar year; the Director must serve on the Board for the entire calendar year.
Accrued retirement benefit means, with respect to a Participant, the balance credited to his Account as of his Annuity Starting Date, if payable as a lump sum, or an Actuarially Equivalent benefit available under the Plan, if payable other than as a lump sum. If there are any surrender charges applicable under the Contract, a Participant’s Accrued Retirement Benefit shall be net of those charges.
Accrued retirement benefit means in relation to a Member at any particular date the greater of:-
Accrued retirement benefit means, as of any given date, the monthly amount of Retirement Benefits payable to a Participant, determined in accordance with Section 4.2, based on the Participant's actual Credited Service and Final Annual Pay as of such given date.