Basic Plan Benefit definition

Basic Plan Benefit means the amount of benefits payable from the Basic Plan to a Member or Vested Former Member.

Basic Plan Benefit means the amount of benefits payable from the Basic Plan to a Participant or Vested Former Participant.

Basic Plan Benefit means the amount of benefit payable to a Participant under any Basic Plan, assuming immediate commencement of payments as of the date of Retirement, with benefits payable in the form of a straight life annuity.

Examples of Basic Plan Benefit in a sentence

• The Disability Benefit of a Member entitled thereto shall be an annual benefit payable in monthly installments under this Plan during the same period as disability benefits are actually paid by the Basic Disability Plan, in an amount equal to 60% of the Member's Covered Earnings, offset by the Member's (i) Basic Disability Plan Benefit, (ii) Basic Plan Benefit, if the Basic Disability Plan Benefit does not already include an offset for such Basic Plan Benefit, and (iii) Other Disability Income.

• Such pre-Retirement death benefit shall be an annuity equal to 50% of the annual Retirement benefit calculated as of the date of death, reduced in accordance with the reduction factors applicable to the Basic Plan Benefit and offset by the Qualified Pre-Retirement Survivor Annuity (or Pre-Retirement Death Benefit, as the case may be) under the Basic Plan.

• Credits of the Supplemental Basic Plan Benefit to the Participant’s Supplemental Basic Plan Account pursuant to this subsection 2.2 shall be made at the same time that employer contributions would otherwise have been credited to his accounts under the ACE USA Basic Employee Retirement Savings Plan or the ACE USA Basic Puerto Rico Employee Retirement Savings Plan, as applicable, provided the eligibility requirements for employer contributions under either said plan have been satisfied.

• The Basic Plan Benefit actually paid to the Participant in whichever form he elects, after compliance with (S)(S) 415 and 401(a)(17) of the Code, plus any additional benefits paid to the Participant under any non-qualified defined benefit plan (besides this Plan) sponsored by Loral or any of its subsidiaries or affiliates.

• Subject to the terms and conditions of the Plan, the Supplemental Basic Plan Benefit and the Supplemental Savings Plan Benefit to which a Participant or Beneficiary is entitled shall be paid to him in the first calendar quarter of the year following the year of his Separation from Service in one lump sum cash payment.

More Definitions of Basic Plan Benefit

Basic Plan Benefit means the annual amount of benefit payable from the Basic Plan to a Participant in the form of a straight life annuity.

Basic Plan Benefit means the sum of the monthly benefits payable from the Pension Plan and the Prior Pension Plan which:

Basic Plan Benefit means a benefit expressed as a single life annuity beginning at age 65 determined under the following formula:

Basic Plan Benefit means the amount of benefit payable from the Basic Plan to a Participant in the form of a straight life annuity when benefits commence under the Basic Plan.

Basic Plan Benefit means the annual benefit payable from the Basic Plan to a Participant in the form of a straight life annuity. If the Basic Plan provides for lump sum or installment payment options, the value of such payments shall be converted to a straight life annuity based on actuarial factors selected by the Committee. If the Basic Plan provides for contributions that are based upon the Participant’s elective deferral of compensation, such as may be available under a cash or deferred arrangement described in Code Section 401(k), the Basic Plan Benefit shall not include benefits that are attributable to such contributions and any earnings thereon (other than matching contributions, if any, as defined in Code Section 401(m)(4)(A), and any earnings thereon).

Basic Plan Benefit means the annual benefit payable under the Basic Plan in the form of a straight-life annuity at the time of retirement or at age 65, whichever benefit is greater.

Basic Plan Benefit means the amount of benefit payable from the Basic Plan to a Participant (a) in the form of an unreduced straight life annuity, where the Participant’s benefit from this Plan is payable in the form of an annuity; or (b) in the form of a single lump sum, where the. Participant’s benefit from this Plan is payable in the form of a lump sum.