Examples of BEP Benefit in a sentence
In the event a Grandfathered Employee shall not have elected an Optional Payment method with respect to his Grandfathered Benefit Equalization Retirement Allowance, any such notification shall specify the Beneficiary to whom payment of the Single Sum Payment shall be made in the event the Employee dies after his Date of Retirement and prior to his BEP Benefit Commencement Date.
Participation in the Plan shall terminate upon the Participant’s Separation From Service, except, however, that an individual who is entitled to receive Benefits under the Plan after his or her Separation From Service will continue to be treated as a Participant (other than for BEP Benefit accrual purposes) until his or her full BEP Benefits have been paid or forfeited.
If the Plan is terminated, a determination shall be made of each Participant’s BEP Benefit as of the Plan termination date (determined in accordance with Section 8.2(a)).
If the date of the Participant’s Separation From Service is on or after January 1, 2007, the pre-retirement death benefit shall be distributed to the Beneficiary in the form of a single lump sum payment on the first day of the first month following the date of the Participant’s death, notwithstanding any election made by the Participant to credit all or a portion of his BEP Benefit to the BEP—Savings Plan.
The provisions of this Section prohibiting an action by the Board of Directors which would reduce a Participant’s accrued BEP Benefit cannot be amended without the consent of all Participants (including those who have retired).
If the Participant’s Termination from Employment occurs more than two years following a Change in Control, the Participant’s BEP Benefit shall be paid in accordance with the Participant’s Payment Election.
If the TP Employee dies after terminating employment with the Controlled Group but before his BEP Benefit Commencement Date, the amount by which (i) the amount determined under ARTICLE IIC(2)(d) of the Plan exceeds (ii) the remaining Trust Account TP Value, if any, determined under ARTICLE IIC(2)(a) of the Plan.
The Board of Directors reserves the right to amend, modify, restate or terminate the Plan; provided, however, that no such action by the Board of Directors shall reduce a Participant’s BEP Benefit accrued as of the time thereof.
Are Community Health Workers in your program paid during training?A No B Yes C Not applicable V.
The Participant has commenced payment of the Participant’s BEP Benefit.