Other Retirement Benefits means the amount (actuarially adjusted, as described below) of all retirement, disability income and death benefits, or the like, whether tax-qualified or non-qualified, that the Participant (or, in the case of surviving spouse’s benefit under Section 5, the Participant’s surviving spouse) is entitled to receive in the applicable month under all plans or arrangements provided, maintained or funded by any of the Participant’s employers (whether or not affiliated with Black & Decker), including all Social Security Benefits, but excluding: (A) any portion of those benefits (other than Social Security Benefits) that is attributable to the Participant’s contributions, including salary or other compensation reduction contributions; (B) any death benefits under a life insurance contract; (C) any defined contribution plan, unless that plan is intended to provide the primary source of retirement income (in addition to Social Security Benefits) funded by any employer for the employees at any location covered by that plan; (D) any payments to the Participant made pursuant to an individual written agreement with Black & Decker and as a result of a change in the ownership or effective control of the Corporation or a change in the ownership of a substantial portion of the Corporation’s assets, including, without limitation, a Change in Control of the Corporation; (E) any amounts paid under an individual written agreement with Black & Decker that expressly provides that those amounts are in addition to the benefits under this Plan; and (F) any amount that constitutes Pay. Notwithstanding anything to the contrary, the amount of the Participant’s or spouse’s Other Retirement Benefits in any month shall be increased or decreased so that the amount of those Other Retirement Benefits that offset the monthly benefit payable under this Plan is the Actuarial Equivalent of the Other Retirement Benefits that the Participant or spouse would otherwise have received that month but for the Participant’s or spouse’s election with respect to those Other Retirement Benefits either to (A) accelerate payment to a date that precedes or to defer the payment beyond the earliest date those payments would otherwise have been made, or (B) receive those Other Retirement Benefits in any form of payment other than the form of payment that would have provided the largest monthly benefit to the Participant or spouse, unless, and only to the extent that, the elected form of payment provides death bene...
Other Retirement Benefits means the sum of:
Other Retirement Benefits means the sum of:
(a) The annual benefit payable to the Participant from the Basic Retirement Plan; plus
(b) The annual Retirement Income Benefit payable to the Participant hereunder; plus
(c) The annual amount of any supplemental retirement benefit payable to the Participant by the Employer or any other Employer pursuant to any Supplemental Retirement Agreement with the Participant (other than amounts attributable to elective deferrals of such Participant’s compensation); plus
(d) The annual benefit that could be provided by (A) Employer contributions (other than elective deferrals) made on the Participant’s behalf under the Basic 401(k)/ESOP, and (B) actual earnings on contributions in (A), if such contributions and earnings were converted to a benefit payable at age 62 in the same form as the Supplemental Retirement Benefit, using the same actuarial assumptions as are provided under Section 1.1; plus
(e) The annual benefit that could be provided by the Participant’s Deferral Credit Account, if such Deferral Credit Account were converted to a benefit payable at age 62 in the same form as the Supplemental Retirement Benefit, using the same actuarial assumptions as are provided under Section 1.1. The amount of Other Retirement Benefits shall be determined by an actuary selected by the Company, with such determination to be made without regard to whether the Participant is receiving payment of such benefits on the Determination Date. To the extent the Participant receives a payment of Other Retirement Benefits described in 1.26(d) or (e) prior to the date the Supplemental Retirement Benefit is determined pursuant to this Plan, the total of such Other Retirement Benefits shall be determined by including and assuming that such amounts earned interest at a variable rate equal to the one-year United States Treasury xxxx rate as reported in the New York edition of The Wall Street Journal on the Determination Date from the date received to the date Other Retirement Benefits are calculated for purposes of this Plan.
Examples of Other Retirement Benefits in a sentence
The EEOC recognizes the full cost of providing future pension and Other Retirement Benefits (ORB) for current employees as required by SFFAS No. 5, Accounting for Liabilities of the Federal Government.
The CSB recognizes a current cost for these and Other Retirement Benefits (ORB) at the time the employee's services are rendered.
The FMC recognizes a current cost for these and Other Retirement Benefits (ORB) at the time the employee's services are rendered.
In the event that the Other Retirement Benefits for any month exceed the monthly benefit payment for that month under this Plan, such excess shall be carried over and added to the Other Retirement Benefits for subsequent months, until such excess is exhausted.
The IAF recognizes a current cost for these and Other Retirement Benefits (ORB) at the time the employee's services are rendered.
More Definitions of Other Retirement Benefits
Other Retirement Benefits means the amount (actuarially adjusted, as described below) of all retirement, disability income and death benefits, or the like, that the Participant or the Participant's surviving spouse is entitled to receive in the applicable month under all plans or arrangements provided, maintained or funded, in part or in whole, by any of the Participant's employers or former employers (whether or not affiliated with Black & Decker), including all Social Security Benefits, but excluding; (a) any portion of those retirement, disability income or death benefits (other than Social Security Benefits) that is attributable to the Participant's contributions, including contributions made by the Participant's employer pursuant to a salary reduction agreement with the Participant (such as under The Black & Decker Executive Deferred Compensation Plan or The Black & Decker Supplemental Retirement Savings Plan); (b) any death benefits under a life insurance contract with a life insurance company; (c) any defined contribution pension, profit sharing or stock bonus plan, unless that plan is intended to provide the primary source of retirement income (in addition to Social Security Benefits) funded by Black & Decker or any other employer for the employees at any location covered by that plan; (d) any payments to the Participant (including any "parachute payments" within the meaning of Section 280G of the Internal Revenue Code of 1986) made by reason of a Change in Control of the Corporation pursuant to an individual agreement in writing between the Participant and Black & Decker; (e) any amounts paid under an individual written agreement between the Participant and Black & Decker which agreement expressly refers to this Plan and provides that those amounts shall not reduce the benefits under this Plan or otherwise are in addition to the benefits payable under this Plan; and (f) any amount that constitutes Pay, as defined in this Plan. Without limiting the generality of the foregoing, the term "Other Retirement Benefits" includes such benefits payable to a Participant or the Participant's spouse under any plan or arrangement provided or maintained at any time by any employer or former employer of the Participant
Other Retirement Benefits means the retirement benefits payable to the Executive on a single life annuity basis and commencing on the date that the Executive attains age 65 under the Retirement Plan and any other U.S. defined benefit plan(s) of the Bunge Group in which the Executive participates, regardless of whether such benefits are paid as of such date or in any other form.
Other Retirement Benefits means (x) all amounts paid to the Executive as Plan Benefits following his attainment of age 65, and all amounts which, if the Executive had so chosen, could have been so paid assuming he was then retired from all employment with all current or former employers (or, if the Executive dies before he attains age 65, all amounts which, had the Executive been alive and so chosen, could have been so paid to the Executive at age 65), plus (y) the Social Security Benefits payable beginning at age 65, each expressed as an aggregate annual amount.
Other Retirement Benefits means (i) the annual annuity equivalent of the non-discretionary contribution made by the Bank to the Woronoco 401(k) Plan beginning in 2001, which contribution shall equal 3% of the Executive’s compensation (as determined under the 401(k) Plan); (ii) the annual pension benefit earned from SBERA through the date of termination, and (iii) fifty percent (50%) of the Executive’s Primary Social Security Benefit. For purpose of clause (i) the term “annuity equivalent” shall mean the hypothetical account balance the Executive would have accrued at her Retirement Date had the non-discretionary 3% contribution made by the Bank to the 401(k) plan earned a 6% fixed rate of return. For purposes of clause (ii), the annual pension benefit shall be determined in accordance with the Schedule A, as attached to this Agreement. Factors consistent with the requirements of Section 417(e) of the Code shall be used in converting the Executive’s Other Retirement Benefits from a lump sum value to an annuity for purposes of determining the benefit under Section 2(a) of this Agreement.
Other Retirement Benefits means the sum of:
(a) The annual benefit payable to the Participant from the Basic Retirement Plan; plus
(b) The annual Retirement Income Benefit payable to the Participant hereunder; plus
(c) The annual amount of any supplemental retirement benefit payable to the Participant by the Employer or any other Employer pursuant to any Supplemental Retirement Agreement with the Participant (other than amounts attributable to elective deferrals of such Participant's compensation); plus (d) The annual benefit that could be provided by (A) Employer contributions (other than elective deferrals) made on the Participant's behalf under the Basic 401(k)/ESOP, and (B) actual earnings on contributions in (A), if such contributions and earnings were converted to a benefit payable at age 62 in the same form as the Supplemental Retirement Benefit, using the same actuarial assumptions as are provided under Section 1.1; plus
Other Retirement Benefits means the monthly benefits available to the Executive under any (i) retirement plan in which the Executive is a participant, which is qualified under Section 401(a) of the Code and which is maintained by the Bank, the Company or any affiliate of the Company and (ii) non-tax-qualified supplemental retirement plan, agreement or similar arrangement (other than this Agreement) which is maintained by the Bank, the Company or any affiliate of the Company for the benefit of the Executive or to which the Executive is a party. For purposes of determining the monthly Supplemental Benefit payable to the Executive under this Agreement, the monthly benefits available to the Executive as Other Retirement Benefits shall be (i) limited solely to those benefits which are attributable to contributions or accruals made by the Bank, the Company or any affiliate of the Company on behalf of the Executive and shall not include any benefits which are attributable to the Executive's own contributions, (ii) determined as if such benefits were payable to the Executive in the form of a twenty year annuity using a 7.5% earnings rate, and (iii) based on the value of the Executive's Other Retirement Benefits on the Executive's Retirement Date (without regard to whether the Executive is actually receiving such Other Retirement Benefits on such date).
Other Retirement Benefits. Your "Base Compensation" shall mean your annual base salary from AL during the twelve month period ending on the last day of the month preceding your retirement or Disability (provided that if your base salary shall have changed during such twelve month period, Base Compensation shall mean your average annual base salary weighted to reflect the number of days during which each varying base salary was in effect). The "Inflationary Adjustment" shall be the same as the adjustment for inflation provided in the retirement plan of Alpharma AS for Norwegian employees. "Other Retirement Benefits" shall mean all amounts you are entitled to receive as retirement benefits under any plan or program funded by any company in the Worldwide Group or its predecessor; provided that Other Retirement Benefits shall not include any payments you receive under the 401(k) savings plan or the deferred compensation plan maintained by AL but shall include retirement benefits you receive under any governmental program (however funded) or under any insurance program funded by any company in the Worldwide Group or its predecessor; and provided further that for any plan or program which is funded in part by contributions from you and in part from contributions by any company in the Worldwide Company, the amount of Other Retirement Benefits shall exclude the portion of payment to you under such plan or program which bears the same proportion as the portion of all funding under such plan or program contributed by you. Subject to section 8(c) below, you shall have the option to retire at age 60 (irrespective of the provisions of any plan or program specifying a different age) or as of the first day of any subsequent month. You shall be entitled to receive the Benefit for the remainder of your life and shall also be entitled, by appropriate election made prior to your retirement, to elect any different form of payment (e.g. ten year certain, etc.) if such form is permitted under the retirement plan maintained by Alpharma AS for Norwegian employees, with the Benefit actuarially reduced to reflect the elected form of payment while maintaining the same value of the Benefit.