Deferred Vested Pension definition

Deferred Vested Pension means the Pension payable pursuant to Section 3.2.

Deferred Vested Pension means the type of Pension described in Section 5.4.

Deferred Vested Pension means a Pension earned by a Terminated Participant who was under the age of 55 at the time of his Termination but who had completed at least 10 years of Credited Service prior to his Termination (seven and one-half (7 ½) years of Credited Service for Eligible Employees who were Employees on or after January 1, 1998).

Examples of Deferred Vested Pension in a sentence

• The monthly amount of a Participant’s Deferred Vested Pension payable on a single-life basis commencing as of his Normal Retirement Date shall be equal to his Accrued Benefit at his Retirement (or, in the event that a Participant is eligible for a Deferred Vested Pension under Section 5.4, the vested percentage of his Accrued Benefit at his Retirement determined under Section 5.4).

• However, if a Participant requests the Committee to authorize the commencement of his Deferred Vested Pension as of the first day of any month after his attainment of age 55 and prior to his Normal Retirement Date, his Pension shall commence as of the first day of the month so requested, but the amount thereof shall be reduced as provided in Section 6.4.

• A Participant shall be eligible for a Deferred Vested Pension under Section 6.4 if his employment is terminated for any reason before his death and he had completed at least three Years of Service during or prior to any Top Heavy Year.

• A Participant shall be eligible for a Deferred Vested Pension if his employment is terminated for any reason before his death after the Participant’s Vesting Date but prior to his Early Retirement eligibility in accordance with Section 5.2. Payment of a Participant’s Deferred Vested Pension shall commence as of his Normal Retirement Date.

• Employees who terminate with eligibility for a Deferred Vested Pension and have at least two hundred fifty hours of Sick Leave in their Bank will also receive Credited Service in their Basic Pension Plan calculation.

More Definitions of Deferred Vested Pension

Deferred Vested Pension means the payments under the Plan to an Employee who is eligible by reason of age and Vesting Service, pursuant to Section 5.5 and Section 6.3.

Deferred Vested Pension means a Pension payable to a Member who satisfies the requirements of Section 4.03.

Deferred Vested Pension means the monthly pension benefit described in Subsection 3.3(d).

Deferred Vested Pension means the monthly benefit for life payable under the Pension Plan to a Participant whose employment terminates before he is eligible for an Early Retirement Pension or Normal Retirement Pension and who has a vested entitlement to benefits under the Pension Plan. Such monthly benefit shall be calculated as of the first day of the month on which the Participant would first be entitled to a monthly Deferred Vested Benefit for life under the Pension Plan.

Deferred Vested Pension means the payments under this Appendix OO to an Employee who is eligible by reason of age and Vesting Service, pursuant to Section 4.5 and Section 5.3.

Deferred Vested Pension means the benefit provided under Section 7.

Deferred Vested Pension means that pension benefit to which a Member may be entitled under Article 10 hereof.