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.

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

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

• 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.

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

• The first applicable Supplemental Annual Retirement Benefit shall become payable upon the termination of Executive's employment with the Company, and such Supplemental Annual Retirement Benefit shall be payable each year to Executive through the remainder of his life in quarterly calendar installments (with a prorated initial installment if necessary), with a 50% right of survivorship.

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 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 the amount calculated under Section 6.1.

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 the product of $13,019 multiplied by each full Year of Service, up to a maximum annual benefit of $78,115.