Annual Supplemental Retirement Benefit definition

Annual Supplemental Retirement Benefit means the annual benefit to be paid from the Plan, as provided in Section 7, and shall be paid in accordance with the provisions of Section 5.
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Annual Supplemental Retirement Benefit means the annual benefit to be paid from the Plan, as provided in Section 7 hereof.
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Annual Supplemental Retirement Benefit means the annual benefit payable to a Participant pursuant to the Plan, as determined in accordance with provisions of Section 4.01 of the Plan.
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Examples of Annual Supplemental Retirement Benefit in a sentence

  • Each Participant who shall have a Separation from Service under the conditions set forth in Section 7 will receive a monthly Annual Supplemental Retirement Benefit paid from the general assets of the Corporation for a period of fifteen years commencing as provided herein.

  • A Participant may, with the consent of the Plan Administrator, elect in writing to have his Annual Supplemental Retirement Benefit converted by the Actuary to any optional form of payment then permitted under the Regulations, except that no benefit under the Plan may be paid in the form of a lump sum.

  • A Participant's Annual Supplemental Retirement Benefit under the Plan shall be paid in monthly installments commencing on the first day of the month next following the Participant's retirement date under the Regulations, except that no benefit shall be paid prior to the date benefits under the Plan can be definitely determined by the Plan Administrator.

  • If a Participant to whom an Annual Supplemental Retirement Benefit is payable under the Plan dies before commencement of the payment of his benefit, the death benefit payable under paragraph (a) of this Section 6.03 shall be payable to the Participant's Beneficiary as if the payment of the Participant's benefit had commenced on the first day of the month in which his death occurred.

  • Each Participant who shall retire under the conditions set forth in Section 7 will receive a monthly Annual Supplemental Retirement Benefit paid from the general assets of the Corporation for a period of fifteen years commencing as provided herein.

  • The “Annual Supplemental Retirement Benefit Amount” shall be determined by multiplying the Average Annual Compensation by 40 percent, and then subtracting $79,700; provided, however, the Annual Supplemental Retirement Benefit Amount shall be no less than $67,200.

  • The “Total Supplemental Retirement Benefit Amount” will be the Annual Supplemental Retirement Benefit Amount multiplied by ten; provided, however, in the event of the death or Disability of the Executive prior to the Vesting Date, the Total Supplemental Retirement Benefit Amount will be $672,000 for purposes of Section 2(a) and Section 2(b).

  • If a Participant is restored to employment with the Employer after payment of his Annual Supplemental Retirement Benefit under the Plan has commenced, all payments under the Plan shall thereupon be discontinued.

  • Each Participant who shall retire under the conditions set forth in Section 7 will receive an Annual Supplemental Retirement Benefit paid from the general assets of the Corporation for a period of fifteen years commencing as provided herein.

  • Upon the Participant's subsequent retirement or termination of employment with the Employer, his benefit under the Plan shall be recomputed in accordance with Sections 4.01 and 6.01 of the Plan, but shall be reduced by the equivalent value of the amount of any Annual Supplemental Retirement Benefit paid by the Plan in respect of his previous retirement or termination of employment, and such reduced benefit shall be paid to such Participant in accordance with the provisions of the Plan.

Related to Annual Supplemental Retirement Benefit

  • Normal Retirement Benefit means an annual benefit payment in the amount of Seventy Two Thousand and Sixty One dollars ($72,061) for a period of fifteen (15) years.

  • 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.

  • 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.

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

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

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