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For more information visit our privacy policy.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.
Termination Benefit means the benefit set forth in Article 7.
Actuarial equivalent means a benefit of equal value when
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).
superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;
Disability Benefit means the benefit set forth in Article 8.
Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.
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.