Early Pension definition

Early Pension means the type of Pension described in Section 5.2.
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Early Pension means the Pension payable to a Participant whose Retirement occurs on or after his 55th birthday and prior to his Normal Retirement Date by reason other than Disability.
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Examples of Early Pension in a sentence

  • Early Pension You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and Future Service Credit, five of which must be years of Future Service Credit.

  • Early Pension Commencement Date prior to Age 65This is the first day of the month selected by a Participant to commence their pension prior to their Normal Commencement Date.

  • If the Participant elects to receive his Pension Benefit prior to his Normal Retirement Date, his Accrued Benefit will be reduced to the extent required by the Early Pension Benefit Reduction Factors applicable to such Participant as described in Section 2.7.

  • Specifically determine the relationship between water level fluctuations and the high spot in the channel at Beardstown.

  • No medical examination is required to qualify for a Normal or Early Pension under the Plan.

  • The Early Pension is based on the amount of the Normal Pension you have earned.

  • Normal and Early Pension payments are payable as long as you live; the last payment that is payable to you is the one for the month in which you die.

  • Once you become vested, it does not matter what happens after that time, you will be entitled to receive your pension benefit at your Normal Pension Date (or your Early Pension Date, if eligible).

  • The amount of such Early Pension shall be determined under Section 6.2. The form of such Early Pension shall be determined under Article VIII.

  • Once you become eligible for a Normal or Early Pension, the payments are non-forfeitable.

Related to Early Pension

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • war pension means a war disablement pension, a war widow’s pension or a war widower’s pension;

  • Retirement Benefit means the benefit set forth in Article 5.

  • Actuarial equivalent means a benefit of equal value when

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • SERP Benefit means the benefit described in Section 5.1.

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • 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.

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

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

  • Accrued Benefit have the meanings specified in ERISA.

  • Termination Benefit means the benefit set forth in Article 7.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • 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).

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

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

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

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