Annual Retirement Benefit definition

Annual Retirement Benefit means a benefit payable annually in the form of a single life annuity with no ancillary benefits and beginning at the Normal Retirement Age under the Plan.

Annual Retirement Benefit means a benefit which commences at age 65 and is payable annually in the form of a single life annuity.

Annual Retirement Benefit means an amount equal to $112,500 per annum which, subject to the conditions set forth herein, is to be paid by the Company to the Employee during the period described in Section 2 hereof.

Examples of Annual Retirement Benefit in a sentence

• The Executive’s Annual Retirement Benefit will increase commensurate with his Years of Service.

• The Annual Retirement Benefit already paid or to be paid shall not be increased.

• There are three (3) types of benefits provided under this Agreement, as set forth below and in the last three columns of Schedule A attached hereto: the Annual Retirement Benefit, the Annual Change in Control Benefit, and the Annual Death Benefit, respectively.

• A Participant shall be paid an Annual Retirement Benefit, in equal monthly installments commencing upon his Termination Date, for the number of months equal to the lesser of: (i) the number of months the Participant has served as an Outside Director, or (ii) 120 months.

• Subject to Section 2.9 of this Plan, monthly payments of the Annual Retirement Benefit shall continue until Participant’s death.

More Definitions of Annual Retirement Benefit

Annual Retirement Benefit means an amount equal to a Participant’s Final Average Earnings multiplied by the lesser of (i) 60%, or (ii) a percentage equal to 2% multiplied by the Participant’s years of Service.

Annual Retirement Benefit means the benefit amount to be paid annually until Participant’s death (subject to the provisions of Section 2.9 of this Plan), as set forth in Schedule A hereto under the column titled “Normal Retirement,” minus the amount of the Offsetting Benefit which Participant is predicted to receive during the initial fiscal year benefits are paid, which Offsetting Benefit will be fixed for purposes of this Agreement. The net payment in subsequent years will be the benefit amount reflected in the schedule minus the fixed Offsetting Benefit.

Annual Retirement Benefit means a benefit payable annually in the form of a single life annuity (with no ancillary benefits) beginning at NORMAL RETIREMENT DATE as defined in Section 22 of this PLAN or its actuarial equivalent.

Annual Retirement Benefit means a benefit payable annually in the form of a single life annuity (with no ancillary benefits) beginning on the Normal Retirement Date as defined in Section 2.25.

Annual Retirement Benefit means an annual amount equal to Eighteen Thousand Dollars ($18,000), paid in monthly increments of One Thousand Five Hundred Dollars ($1,500.00).

Annual Retirement Benefit means an amount equal to the last annual retainer paid to the Outside Director prior to his Termination Date, plus the total of actual Board of Directors meeting fees (excluding fees earned for committee meetings) paid to the Outside Director by either the Bank or FFIC for the twelve months immediately preceding his Termination Date.

Annual Retirement Benefit means an amount determined actuarially by Cowlitz’s consulting actuaries that if paid annually from the Normal Commencement Date until the later of Participant or Spouse’s death would equal the Base Amount. For purpose of this calculation, life expectancies shall be determined as of the Termination Date based upon the 1994 GAR Male/Female blended Table, prescribed under Internal Revenue Service Rev. Rul. 2001-62 or the most recently published successor thereto.