Excess Retirement Benefit definition

Excess Retirement Benefit means the benefit payable to a Participant pursuant to the Arrangement by reason of termination of employment with any Employer for any reason other than death.
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Excess Retirement Benefit means the monthly benefit an Excess Benefit Participant would have been entitled to receive from the retirement system under Chapter 104 RSMo., as if there were no restrictions under Section 104.010.2 RSMo., and designed to conform to Section 415 of the Internal Revenue Code.
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Excess Retirement Benefit means an amount equal to the difference between (i) the Retirement Plan Benefit to which the Part A Participant would be entitled under the Retirement Plan if such Retirement Plan Benefit was computed without the restrictions or limitations imposed by Sections 401(a)(17) and 415(b) of the Code as now or hereafter in effect, less (ii) the amount of Retirement Plan Benefit payable to the Part A Participant under the Retirement Plan.
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Examples of Excess Retirement Benefit in a sentence

  • A Participant shall be entitled to a cash distribution of the Participant’s Excess Retirement Benefit and Excess Thrift Benefit, as applicable (collectively, the “Excess Benefit”), as provided in this Section 3.3.

  • Such amount will be calculated as the Actuarial Equivalent of the Participant’s Excess Retirement Benefit using the assumptions for determining Actuarial Equivalence provided under the Pension Plan for determining lump sum distributions.

  • A Participant is eligible for a Deferral/Incentive Supplement if his Excess Retirement Benefit, using the Hypothetical Amount in 2.4(b)(1), is positive.

  • The Excess Retirement Benefit payable to a Participant’s Beneficiary under this Plan shall be equal to the balance in the applicable Sub-Account on the date of the distribution of the Account to the Beneficiary.

  • Excess Retirement Benefit Plan (together, the “Retirement Plans”) as in effect on the date hereof, notwithstanding any subsequent amendment thereto; provided, however, that in no event shall you accrue benefits under such Retirement Plans beyond the first anniversary of your last day of active employment.

  • No amendment or termination of the Arrangement shall directly or indirectly deprive any current or former Participant or Beneficiary of all or any portion of any Excess Retirement Benefit or Excess Beneficiary Benefit payment that has commenced prior to the effective date of such amendment or termination or any Participant’s accrued benefit hereunder, on such effective date.

  • No Excess Retirement Benefit or Supplemental Retirement Benefit under the Plan or a Plan Agreement shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance, or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall be void.

  • If two or more persons designated as a Participant's Beneficiary are in existence with respect to a single Excess Retirement Benefit the amount of any payment to the Beneficiary under this Plan shall be divided equally among such persons unless the Participant's designation specifically provides for a different allocation.

  • The Excess Retirement Benefit payable to a Participant shall be paid in the same form under which the Qualified Plan Retirement Benefit is payable to the Participant.

  • The Participant's election under the Qualified Retirement Benefit (with the valid consent of the Participant’s Spouse where required under the Qualified Plan) shall also be applicable to the payment of the Excess Retirement Benefit.


More Definitions of Excess Retirement Benefit

Excess Retirement Benefit means the monthly benefit payable to or with respect to a Participant and/or his Beneficiary under Article 2.
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Excess Retirement Benefit means the monthly benefit payable to or with respect to a Participant and/or his Spouse under Article III.
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Excess Retirement Benefit means an Excess Pension Benefit, an Excess 401(k) Benefit or an Excess Matching Benefit (as described in Article III) which is payable to or with respect to a Participant under this Plan.
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Related to Excess Retirement Benefit

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

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

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

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

  • Accrued Benefit have the meanings specified in ERISA.

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

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

  • SERP Benefit means the benefit described in Section 5.1.

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

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

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

  • Retirement Age means the earlier to occur of the Participant attaining: (i) age 65 or more; or (ii) age 60 or more with at least 15 years of continuous Service, provided that the Participant has continuously remained in Service from the Award Date until the earlier to occur of (i) or (ii).

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

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

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

  • 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.

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

  • Normal Retirement Age means the Executive's 65th birthday.

  • Disability Benefit means the benefit set forth in Article 8.

  • 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).

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

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

  • 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.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.