DB Member definition
Examples of DB Member in a sentence
A DB Member shall be eligible for normal retirement upon attaining age 60 or older with 8 or more years of credited service, or age 50 or older with 25 or more years of credited service.
Except as otherwise set forth in this Section 2(C), with respect to an employee who was a DB Member and entered the Deputy Sheriffs bargaining unit covered under this Agreement prior to July 1, 2013, the monthly benefit formula shall equal two and one-half (2.5%) percent of the DB Member's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of final average compensation.
An employee who is a DB Member shall stop making contributions when he has reached 25 years of Credited Service.
Except as otherwise provided in Section 2(C) above, with respect to an employee who was a DB Member and entered the Deputy Sheriffs bargaining unit covered under this Agreement on or after July 1, 2013, the monthly benefit formula shall equal one and one-half (1.5%) percent of the employee's final average compensation multiplied by his years of credited service, not to exceed seventy-five percent (75%) of final average compensation.
Irish DB Member a Broadcast Employee in pensionable service under the Irish DB Scheme or who is eligible to join the Irish DB Scheme immediately before the Completion Date including any Broadcast Employee who would be in pensionable service but for his or her temporary absence from work.
All payments to the DB Member shall be made, without deductions or restrictions, to the following account: [name of bank, account no., SWIFT code, etc.].
By clause 5 of the deed of amendment dated 30 March 2011, effective on and from 1 April 2011, when calculating the Revaluation Increase under Rule 9 for a DB Member whose Pensionable Service ceases on and from the Termination Date, the DB Member shall be treated as if he or she had left the Scheme when Pensionable Service as a DB Member ceased (and any period of continued membership on and from 1 April 2011 as a DC Member in the DC Plan shall be disregarded for these purposes).
The Parties desire jointly to appoint the undersigned person to act as [sole DB Member / one of three DB Members] [and desire the Member to act as chairperson of the DB], hereinafter referred to as the DB Member.
The CIArb’s decision shall be final and binding on the Parties and the DB Member.
Thereafter they shall be adjusted by agreement between the Parties and the DB Member at each anniversary of the execution of this TPA.