Future Service means the number of years (rounded up to the nearest year) an Employee is a Member, beginning with the date on which an Employee becomes a Member and ending no later than the Member's Normal Retirement Age.
Future Service. Means service subsequent to the date of the member’s participation in the Florida Retirement System and may include authorized leaves of absence as provided in Rule 60S-2.006, F.A.C.
Future Service. This is the service in respect of a Member for the period from the Annual Renewal Date until he or she attains the Normal Retirement Age (NRA).
Examples of Future Service in a sentence
Leaves of absence of less than six months may be taken into account as Future Service, to the extent provided by the Committee.
The average annual compensation of a Participant for the five full consecutive calendar years during his Future Service period during which he received the largest total amount of compensation.
Benefit determined under 5.1(c)(i)(A) above shall be the greater of the actual benefit amount or the sum of the Adjusted Accrued Benefit and Future Service Benefit.
For a Participant not described in (1) above, the Future Service Benefit shall be determined by multiplying the excess of 1.6% of Monthly Average compensation multiplied by Years of Benefit Service (not exceeding 30) over the Monthly Social Security Allowance by a fraction.
Note 2:The Future Service Liability (FSL) does not have to be recognised by an employer.
More Definitions of Future Service
Future Service means your years of Service which are earned on or after April 1, 1968* as set forth below:
Future Service. Future Service" shall mean each Year of Participation by an Active Participant prior to his Normal Retirement Date.
Future Service with which the employee is credited as of the Closing, his accrued benefit, and his annual rate of retirement annuity which is accrued as of the Closing under the greater of the career average pay formula or the final average pay formula, in each case determined in accordance with the provisions of the Cyanamid Retirement Plan in effect as of the Closing, and his current rate of compensation. Seller also shall deliver to Buyer within ninety (90) days following the Closing Date all personnel, benefit and other employment records respecting the Transferred Employees, the most current summary plan description for each of the Benefit Plans, and records of all actuarial assumptions used to determine equivalence under the Cyanamid Retirement Plan as of the Closing. Seller shall be responsible for and shall indemnify and hold Buyer harmless from and against all liabilities and obliga- tions of any kind in connection with the provision of retiree medical benefits to employees who have retired or who are eligi- ble for retiree medical benefits under the Seller's medical plan as of the Closing Date, regardless of whether such employees actually retire from employment prior to the Closing Date. Seller shall be responsible for and shall indemnify and hold Buyer harmless from and against all claims of the Trans- ferred Employees for worker's compensation, unemployment compen- sation and other government mandated benefits, and for weekly indemnity, life, pension, profit sharing, hospital/medical /surgical, disability, major medical, dental and other welfare benefits which arise by reason of events that occur prior to the Closing and are payable under the terms and conditions of any existing benefit program or plan maintained by Seller for the Transferred Employees. Buyer shall be responsible for and indemnify and hold Seller harmless from and against all claims for such benefits which arise by reason of events that occur after the Closing and which are payable under the terms and conditions of any benefit program which in similar to a plan or program described in the preceding sentence and which is adopted or maintained by Buyer for the Transferred Employees, whether through assumption of the existing collective bargaining agree- ment or otherwise. Anything in this subsection 12.3 to the contrary notwithstanding, any amount payable in respect of any claim which is determined by a final decision of a court of competent jurisdiction or of a duly constituted arbitral tribu...
Future Service means the full Units of Benefit Credit with which a Participant is credited from October 1, 1984 to his Early or Normal Retirement Date.
Future Service means periods of service from 1 June 2009 under the ECB Pension Scheme, subject to the conditions laid down in the Rules of the Scheme.∗
Future Service means an Employee’s service with the Company after December 3l, l969 as determined in accordance with paragraph (3) of Section 13 hereof.
Future Service. For service on and after August 1, 1981 or the actual date the Employee becomes a Member of the Plan if subsequent to August 1, 1981, an annual benefit equal to 2% of each year's gross earnings after that date.