Plan Anniversary definition
Examples of Plan Anniversary in a sentence
Within sixty (60) days following the end of each Plan Anniversary Date following the Director's Termination of Service after his Normal Retirement Date and continuing up until the Director's death, the Company shall pay a Secondary Normal Retirement Benefit to the Director.
The Secondary Normal Retirement Benefit shall be paid in a lump sum in an amount equal to the hypothetical growth, if any, of the Director's Retirement Account from the immediately preceding Plan Anniversary Date, determined pursuant to the method set forth in Sections 2.1 and 2.2 hereof.
Commencing on the first day of the month following the Director's Termination of Service after his Normal Retirement Date, the Company shall pay a Primary Normal Retirement Benefit to the Director which is equal to the Director's Retirement Account balance as of the Plan Anniversary Date immediately preceding the Director's Termination of Service (without adjustment for interest or earnings during the payment period).
Upon the Director's death prior to termination of this Agreement, the Company shall pay to the Director's beneficiary a benefit equal to the Retirement Account balance as of the Plan Anniversary immediately preceding the Director's death.
The Company shall provide to the Director, within 60 days after each Plan Anniversary, a statement setting forth the Retirement Account balance.