Optional Form of Benefit definition

Optional Form of Benefit means an optional form of benefit other than a single sum amount.
Sample 1Sample 2Sample 3
Optional Form of Benefit means an optional form of benefit settlement described in Section 7.2.
Sample 1Sample 2

Examples of Optional Form of Benefit in a sentence

  • For purposes of determining the amount of an Optional Form of Benefit, a benefit having in the aggregate equality in value to the amounts expected to be received under the Normal Form of benefit payment based upon an interest rate of 6% and the 1983 GAM Mortality Table for Males for Participants and the 1983 GAM Mortality Table for Females for beneficiaries and Alternate Payees.

  • Rejection of the 50% Husband-and-Wife Pension and Selection of an Optional Form of Benefit If the Participant is married when the Participant retires, the Participant’s pension will automatically be paid in the form of a 50% Husband-and-Wife Pension unless the Participant and the Participant’s Spouse sign a notarized statement rejecting the 50% Husband-and-Wife Pension and file it with the Fund Office at the time the Participant retires.

  • Signature of NRDA………………………..…………Press Note NAYA RAIPUR DEVELOPMENT AUTHORITY (NRDA) RAIPUR, CHHATTISGARH DETAILED NIT NIT No: 159/FA-PS-IBMS/VB/ELECT /CE(E)/NRDA/2016-17 Naya raipur Dated: 27.01.2017Last date and time for submission of tenders: 15.00 hrs on 17.02.2017 1.

  • The student and faculty develop a teaching contract in advance to delineate expectations of the teaching experience.

  • Upon your retirement under Early or Normal Retirement, complete the form necessary to indicate which Optional Form of Benefit you desire.

  • Legacy Plan Participants may elect to receive their retirement benefit hereunder in an Optional Form of Benefit by filing a Benefit Election Form with the Administrator indicating the Optional Form of Benefit chosen no later than December 31 in the year prior to the year in which his Designated Benefit Commencement Date occurs and at least 90 days prior to his Designated Benefit Commencement Date (the "Latest Optional Form of Benefit Election Date").

  • In knowledge assessment, the teacherexplains my mistakes and instructs me how 0.62830.716.225.116.611.42.62to improve my knowledge.5. The teacher stimulates cooperation 0.62431.312.731.615.58.92.586.

  • Multiply the resulting percentage by the Optional Form of Benefit to obtain the reduced monthly benefit payable to the Participant, provided, however, that the amount of the reduced monthly benefit calculated pursuant to this paragraph shall not be less than the reduced monthly benefit to which the Participant would have been entitled had he retired on December 31, 2000 and had his benefit calculated in accordance with sub-paragraph (a) hereof.

  • Optional Forms of Benefit‌You may waive the Automatic Form of Benefit and select an Optional Form of Benefit.

  • Upon your retirement under Early or Normal Retirement, complete the form necessary to indicate whether you desire an Optional Form of Benefit, and if so, which option you choose.

Related to Optional Form of Benefit

  • 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.

  • Coordination of Benefits or “COB” means a provision establishing an order in which plans pay their claims, and permitting secondary plans to reduce their benefits so that the combined benefits of all plans do not exceed total allowable expenses.

  • Assignment of Benefits means an arrangement whereby the Plan Participant assigns their right to seek and receive payment of eligible Plan benefits, in strict accordance with the terms of this Plan Document, to a Provider. If a provider accepts said arrangement, Providers’ rights to receive Plan benefits are equal to those of a Plan Participant, and are limited by the terms of this Plan Document. A Provider that accepts this arrangement indicates acceptance of an “Assignment of Benefits” as consideration in full for services, supplies, and/or treatment rendered.

  • Schedule of Benefits means the section of this policy which shows, among other things, the Eligibility Requirements, Eligibility Waiting Period, Elimination Period, Amount of Insurance, Minimum Benefit, and Maximum Benefit Period.

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

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

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

  • Normal Form means a monthly annuity which is one twelfth of the amount of the member’s accrued benefit which is payable for the member’s life. If the member dies before the sum of the payments he or she receives equals his or her accumulated contributions on the annuity starting date, the named beneficiary shall receive in one lump sum the difference between the accumulated contributions at the annuity starting date and the total of the retirement income payments made to the member.

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

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

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

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

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

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse and which is the amount of benefit which can be purchased with the Participant's Vested Account Balance.

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Adoption Agreement means the written agreement pursuant to which the Employer adopts the Plan. The Adoption Agreement is a part of the Plan as applied to the Employer.

  • Application for Final Payment means Contractor’s final invoice for payment that includes any portion of the Work that has been completed for which an invoice has not been submitted, amounts owing to adjustments to the final Contract Sum resulting from approved change orders, and release of remaining Contractor’s retainage.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

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

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

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • EU withdrawal agreement means the withdrawal agreement within the meaning of the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) and (6) of that Act).”,