Designated Benefit Commencement Date definition

Designated Benefit Commencement Date means, with respect to an Account, the date elected by an Eligible Employee for distribution (or commencing distribution, if payable in installments) of the Account. Except as otherwise provided in Section 4.06, a Participant’s Designated Benefit Commencement Date must be either (i) a specified Quarterly Distribution Date occurring at least two years after the end of the calendar year for which the deferral is made or (ii) a specified Quarterly Distribution Date occurring in the calendar quarter after the Participant’s Retirement or one of the next following three calendar quarters.
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Designated Benefit Commencement Date means
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Designated Benefit Commencement Date means, with respect to a Plan Year Balance, the date elected by an Eligible Employee for distribution (or commencing distribution, if payable in installments) of the Plan Year Balance. Except as otherwise provided in Section 4.06, a Participant's Designated Benefit Commencement Date must be either (i) a specified Quarterly Distribution Month occurring at least two years after the end of the calendar year for which the deferral is made or (ii) a specified Quarterly Distribution Month occurring in the calendar quarter after the Participant's Retirement or one of the next following three calendar quarters.
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Examples of Designated Benefit Commencement Date in a sentence

  • At the time a Participant makes a deferral election pursuant to Section 4.02, 4.03 or 4.04, he shall also elect a Designated Benefit Commencement Date and Designated Form for the Account to which amounts subject to the deferral are credited.

  • A Participant was permitted to elect during the election period established by the Administrator (which shall begin and end in 2008) to change his Designated Benefit Commencement Date and/or Designated Form with respect to an Account, provided that such election does not cause any amounts otherwise payable in another year to be payable in 2008 or cause any amounts otherwise payable in 2008 to be paid in a later year.

  • A Participant was permitted to elect during the election period established by the Administrator (which shall begin no earlier than September 1, 2007, and end no later than December 31, 2007) to change his Designated Benefit Commencement Date and/or Designated Form with respect to an Account, provided that such election does not cause any amounts otherwise payable in another year to be payable in 2007 or cause any amounts otherwise payable in 2007 to be paid in a later year.

  • Legacy Plan Participants may elect to receive their retirement benefit hereunder in an Optional Form of Benefit by filing a Benefit Election Form with the Administrator indicating the Optional Form of Benefit chosen no later than December 31 in the year prior to the year in which his Designated Benefit Commencement Date occurs and at least 90 days prior to his Designated Benefit Commencement Date (the "Latest Optional Form of Benefit Election Date").

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  • There shall be no reduction in the Monthly Base Benefit Amount under Section 1.20 if the Designated Benefit Commencement Date is on or after the first day of the calendar month following the calendar month in which the Legacy Plan Participant's 62nd birthday occurs.

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  • A Legacy Plan Participant may elect to receive an Early Retirement Benefit hereunder by filing a Benefit Election Form with the Administrator no later than December 31 in the year prior to the year in which he terminates employment with the Company and at least 90 days prior to his Designated Benefit Commencement Date.

  • Notwithstanding the preceding provisions of this Section, if a Participant’s Account on the Designated Benefit Commencement Date is less than $10,000, the Designated Form shall be deemed to be a lump sum.

  • Eligible Employees and Vested Participants may elect to receive their retirement benefit hereunder in an Optional Form of Benefit by filing a Benefit Election Form with the Administrator indicating the Optional Form of Benefit chosen no later than December 31 in the year prior to the year in which his Designated Benefit Commencement Date occurs and at least ninety (90) days prior to his Designated Benefit Commencement Date (the "Latest Optional Form of Benefit Election Date").


More Definitions of Designated Benefit Commencement Date

Designated Benefit Commencement Date means, with respect to an Account, the date elected by a Participant on the Applicable Form for distribution (or commencing distribution, if payable in installments) of the Account. Such date may be the date on which the Participant Separates from Service, a year specified by the Participant, or the date on which a Change of Control occurs. If a Participant fails to elect a Designated Benefit Commencement Date, the Designated Benefit Commencement Date shall be the date on which the Participant Separates from Service.
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Related to Designated Benefit Commencement Date

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

  • Extended benefit period means a period which:

  • 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.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Employment Commencement Date means the date on which the Employee first performs an Hour of Service.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Annuity Commencement Date is the first day of the month an annuity begins under this contract. This date may not be later than the date a Participant's periodic benefits are required to commence under the Code.

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Reemployment Commencement Date means the first day following a One-Year Period of Severance on which an Employee is entitled to be credited with an Hour of Service described in Paragraph (a)(1) of the definition of “Hour of Service” in this Article.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • Severance from Service Date means the earlier of:

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • 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).

  • Plan Termination Date means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board pursuant to Section 15 hereof.

  • Policy Commencement Date means the date of commencement of the Policy as specified in the Schedule.

  • Termination Year means the calendar year in which the Employment Period is terminated.