Normal Form of Benefit definition

Normal Form of Benefit means the form of benefit described in Section 4.2.

Normal Form of Benefit means (a) a single life annuity for the life of the Participant, in the case of a Key Executive who became a Participant on or after July 23, 1998, and (b) a joint and 50% survivor annuity, in the case of a Key Executive who became a Participant before July 23, 1998.

Normal Form of Benefit means the Form of Benefit for a Deferred Participant provided in the accompanying exhibit.

Examples of Normal Form of Benefit in a sentence

Normal Retirement Benefit: An annual benefit at Normal Retirement Date equal to 5% of an Independent Trustee's Annual Compensation multiplied by the Independent Trustee's whole Years of Service, up to a maximum of ten Years of Service, payable in the Normal Form of Benefit, as defined in ss.3(g).
Except as otherwise provided in this ss.3, benefits payable under this ss.3 shall be payable in the form of a monthly annuity for the life of the Independent Trustee, and, if the Independent Trustee dies before he has received one hundred twenty (120) payments, monthly payments in the same amount shall be payable to his beneficiary until the number of payments to the Independent Trustee plus the number of payments to the beneficiary equal one hundred twenty (120) payments (the "Normal Form of Benefit").
Schedule Type You should indicate the schedule type to which the component belongs.
The offset from a defined contribution plan is the account balance converted to the Normal Form of Benefit payable at Normal Retirement Date (or attained age, if later) using the actuarial assumptions of this Plan.
The Normal Form of Benefit under the Plan shall be a single lump sum distribution, made [X] (if selected) as soon as administratively practical after receipt of a distribution request from a Participant entitled to a distribution or [ ] (if selected) upon the Participant's attainment of the Plan's Early Retirement Date or the Plan's Normal Retirement Date, whichever is earlier.

Normal Form of Benefit means an annuity expressed as a ten year certain annuity (no life thereafter). In addition, the Affected Members shall also be permitted to elect a lump sum option on the value of the annuity at his Retirement Date.

Normal Form of Benefit means a joint and 50% survivor annuity if the Participant is married at the time benefits under this Supplement first commence, and a single life annuity if the Participant is unmarried as of such time.

Normal Form of Benefit means the same form of benefit payment, the same benefit commencement date, and the same beneficiary as elected by an Eligible Employee under the Goodrich Retirement Plan.

Normal Form of Benefit means a life annuity unless the Participant was designated a Participant in this Plan prior to July 23, 1998, in which case the Normal Form of Benefit shall be a Joint and 50% Survivor annuity.

Normal Form of Benefit means a single lump sum payment of the Participant’s vested accounts. Notwithstanding the foregoing, pursuant to Treasury Regulation Section 1.411(d)-4, Q&A-2, (d)(1)(i) relating to Employer Securities that are not readily tradable on an established market, the Company retains the discretion to eliminate the lump sum distribution form with respect to Employer Securities that are not readily tradable on an established market, if any. To the extent the Company, in accordance with this Section 5.2(a), eliminates the lump sum distribution form, the remaining forms of benefit must be consistent with the distribution rules of Code Section 409(o), must apply equally to all Participants, and must apply to all undistributed Plan benefits.

Normal Form of Benefit means a monthly pension commencing on the Employee's Annuity Starting Date, and paid on the first day of each following month, terminating with the payment made in the month of the Employee's death. No death benefit is payable under the Normal Form.

Normal Form of Benefit means that form of benefit available to a Participant unless such Participant elects an Alternative Form of Benefit in accordance with the provisions of the Plan. For an unmarried Participant, the Normal Form of Benefit shall be an individual life annuity, meaning a form of benefit providing equal monthly payments to the Participant during the Participant's life only. For a married Participant, except as provided in the applicable Schedule of Benefits, the Normal Form of Benefit shall be a joint and survivor annuity which is the Actuarial Equivalent of the single life annuity described above, meaning a form of benefit that provides annuity payments during the Participant's life and, after the Participant's death, annuity payments equal to one hundred percent (100%) of the original annuity payments to the Participant's surviving spouse for the spouse's life. For purposes of determining the Normal Form of Benefit, the EBC shall determine whether a Participant is married as of the date when the payment of the Participant's benefit is to commence.