pre-retirement benefit definition
pre-retirement benefit means: all cash benefits, other than an unemployment benefit or an early old-age benefit, provided from a specified age to workers who have reduced, ceased or suspended their remunerative activities until the age at which they qualify for an old-age pension or an early retirement pension, the receipt of which is not conditional upon the person concerned being available to the employment services of the competent State; ‘early old-age benefit’ means a benefit provided before the normal pension entitlement age is reached and which either continues to be provided once the said age is reached or is replaced by another old-age benefit;
pre-retirement benefit means, for each Eligible Officer under the Plan, the difference between (a) the amount reflected in Schedule A hereto as the “Projected Benefit” payable to such Eligible Officer at the Eligible Officer’s Age at Termination, minus (b) the Net Projected Cash Surrender Value (updated no less often than annually) of the Policy or Policies insuring the life of such Eligible Officer at such Eligible Officer’s Age at Termination, and minus (c) the amount of any outstanding loan against the Policy or Policies insuring the life of such Eligible Officer.
pre-retirement benefit means the benefit payable in accordance with Section 8 with respect to a Participant who incurs a Separation from Service before his Early Retirement Age.