Early Retirement Factor definition

Early Retirement Factor means the reduction factors used to calculate early retirement benefits under the A&B Retirement Plan for participants of such plan who retire from active service at or after attaining age 55.

Early Retirement Factor means, in relation to a Member who elects a Pension Commencement Date earlier than their Normal Retirement Date, the factor calculated in Section 8.02.

Early Retirement Factor means the reduction defined in Section 4.02(e).

Examples of Early Retirement Factor in a sentence

• If an early retirement benefit is paid, the Early Retirement Factor shall be based on the months by which commencement of the benefit precedes age 60.

• For early retirement prior to age 65, the Supplemental Benefit is reduced by the Supplemental Early Retirement Factor.

• The Enhanced Benefit will be reduced for early retirement prior to the participant’s Enhanced Unreduced Retirement Age (but not for early retirement on or after the participant’s Enhanced Unreduced Retirement Age) by the Enhanced Early Retirement Factor.

• The death benefit shall be a percentage of the participant's Accrued Benefit as of the date of death, based on an Early Retirement Factor of 100 percent.

• The benefit freeze described herein shall not affect the increase in the amount of a Participant’s benefit due to the Participant’s increasing age (and the consequent effect on the applicable Early Retirement Factor).

More Definitions of Early Retirement Factor

Early Retirement Factor means 100% minus 0.41667% times the number of months by which the Employee’s age at his Early Retirement Date precedes his age 60.

Early Retirement Factor means 100% minus one-half of one percent (.5%) for each month by which the SPP Commencement Date precedes the date the Employee would have attained age 60, with any partial final month to be rounded to the closest whole month.

Early Retirement Factor means 100% minus 0.41667% times the number of months the Employee’s age at his Early Retirement Date precedes his Normal Retirement Date.

Early Retirement Factor means, in relation to a Member:

Early Retirement Factor means an adjustment to the pension

Early Retirement Factor means an amount by which a Benefit will be reduced because the Retiree’s Benefit Commencement Date precedes his/her Normal Retirement Date. The amount of the reduction shall be equal to 5% for each year and 1/12th of 5% for each month of a fractional year by which the Benefit Commencement Date precedes the first date of the month coincident with or next following the 62nd anniversary of the Member’s birth.

Early Retirement Factor means the reduction defined in