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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

  • Washington State law requires reporting of any contractor, independent contractor or personal service contractor that has retired from the State of Washington using the 2008 Early Retirement Factor (ERF).

  • The Early Retirement Factor applicable to a Member is equal to 100% reduced by 3.00% per year (prorated for partial years) by which the Member’s Pension Commencement Date precedes their Normal Retirement Date.

  • A Participant's Vested Change in Control Benefit shall equal his or her Prorated Retirement Income determined as of the Change in Control date, reduced by (i) the Early Retirement Factor applicable at the Participant's age determined as of the monthly benefit commencement date determined under the provisions of paragraph (3) below, and (ii) further reduced by Other Benefits as provided in Appendix C.

  • A Participant's Participation Termination Benefit shall equal his or her Prorated Retirement Income determined as of the date his or her participation terminates reduced by (i) the Early Retirement Factor applicable at the Participant's age determined as of the monthly benefit commencement date determined under the provisions of subsection (c) below and (ii) further reduced by Other Benefits as provided in Appendix C.

  • 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.


More Definitions of Early Retirement Factor

Early Retirement Factor means the early
Early Retirement Factor means 100% minus 0.41667% times the number of months the Employee’s age at his Early Retirement Date precedes his age 60.
Early Retirement Factor means the reduction defined in
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 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 an adjustment to the pension
Early Retirement Factor means, in relation to a Member: