Benefit Equalization Survivor Allowance definition

Benefit Equalization Survivor Allowance means the benefit payable to:
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Benefit Equalization Survivor Allowance means the total amount payable during a twelve (12) month period in equal monthly payments for the life of the Spouse of a Deceased Employee or deceased Retired Employee who has died after the date of his retirement and prior to the date his Optional Payment under Paragraph I(r)(i) or (ii) hereof commences to be paid in an amount equal to one- half of the reduced Benefit Equalization Retirement Allowance which would have been payable as a Benefit Equalization Joint and Survivor Allowance to the Deceased Employee or deceased Retired Employee.
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Examples of Benefit Equalization Survivor Allowance in a sentence

  • Except as provided in clause (B), the BEP Benefit Commencement Date of the Benefit Equalization Survivor Allowance payable to the Spouse of a Deceased Employee or deceased Retired Employee shall be the Survivor Allowance Payment Date, but not later than the Survivor Allowance Latest Payment Date.

  • Except as provided in clause (B) of this ARTICLE I(i)(3), the BEP Benefit Commencement Date of the Benefit Equalization Survivor Allowance payable to the Spouse of a Deceased Employee or deceased Retired Employee shall be the Survivor Allowance Payment Date, but not later than the Survivor Allowance Latest Payment Date.

Related to Benefit Equalization Survivor Allowance

  • 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.

  • 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).

  • 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.

  • Retirement allowance means the retirement payments to which a member is entitled.

  • superannuation benefit means a pension, gratuity or other allowance payable on resignation, retirement or death;

  • Retirement Benefit means the benefit set forth in Article 5.

  • Actuarial equivalent means a benefit of equal value when