Examples of Normal Retirement Pension in a sentence
As of the effective date of this Agreement, the monthly amount per Year of Credited Service payable as a Normal Retirement Pension (the “Monthly Benefit”) is $572.13.
Subject to the maximum and minimum limitations herein set forth, the Retirement Board shall pay to each Employee who has retired in accordance with Article VI, a Normal Retirement Pension for life.
All benefits are determined by the facts and Plan provisions applicable at or prior to your retirement or termination of employment.The Normal Retirement Pension payable under the Plan is independent of, and in addition to, any Social Security payments you receive for yourself and for your spouse.Employment After Age 65Subject to your continued ability to perform your duties, your employment may continue beyond your Normal Retirement Date.
The Pension Plan’s benefit formula for a Normal Retirement Pension is the sum of (a) 1.65 percent of FAC60 times “Years of Benefit Service” and (b) 0.50 percent of (i) FAC60 in excess of Social Security covered compensation items and (ii) “Years of Benefit Service” (not to exceed 35).
Judge Lobree agreed with Vice-Chair Upson and Chair Rothstein-Youakim.