Preretirement Survivor Benefit definition

Preretirement Survivor Benefit means, in the case of a Participant who dies prior to a Termination of Employment and not during a Disability, the Participant's SERP Benefit as of the date of death (which becomes Vested upon death) that is payable to such Participant's Beneficiary, in accordance with Section 4.1(c).
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Preretirement Survivor Benefit means the benefit set forth in Article 6.
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Preretirement Survivor Benefit means lump sum or periodic benefits paid by a plan to a beneficiary when a member dies before the pension matures;
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Examples of Preretirement Survivor Benefit in a sentence

  • A Participant, in connection with his or her commencement of participation in the Plan, shall elect on an Election Form to receive the Preretirement Survivor Benefit in a lump sum or pursuant to an Annual Installment Method of 5, 10 or 15 years.

  • If a Participant dies prior to his or her Termination of Employment and not while the Participant is receiving benefits under Section 4.1(a) due to a Disability, the Participant's Beneficiary shall be entitled to receive the Participant's Vested SERP Benefit in the form of a Preretirement Survivor Benefit, payable in quarterly installments for a period of 15 years.

  • I have read the Preretirement Survivor Benefit information provided on this form and understand that if I die before my payment start date and after meeting the requirements for vesting, a Preretirement Survivor Benefit will be paid by the Pension Plan to one of the individuals I have designated on this form.I hereby revoke any prior Preretirement Survivor Benefit designation I may have made.

  • A Surviving Spouse or Alternate Beneficiary who is entitled to a Preretirement Survivor Annuity or a Preretirement Survivor Benefit under the Pension Plan shall receive a benefit payment under this Plan in the form of a lump sum equal to an amount determined under Section 5 and payable within 60 days after the participant’s death.

  • The lump sum amount so determined is hereafter referred to as the Pre-retirement Survivor Benefit, and shall be paid to the Participant's Beneficiary in 60 equal monthly installments, including interest, at an interest rate determined by reference to Section 2.2 of this Plan.

  • The amount of Retirement Benefit and Preretirement Survivor Benefit to which Employee shall be entitled under this Agreement are set forth on Exhibit "A," attached hereto and incorporated by reference herein.

  • If a Participant does not make any election with respect to the payment of the Preretirement Survivor Benefit, then such benefit shall be payable pursuant to an Annual Installment Method of 15 years.

  • If the Participant dies before the commencement of the payment of benefits payable under Sections 3.1, 3.2, or 3.5, the Employer shall pay to his Beneficiary a death benefit (which benefit is herein called his Pre-retirement Survivor Benefit).

  • If Employee's Beneficiary dies prior to the payment of the entire Preretirement Survivor Benefit, the then present value of Beneficiary's remaining Preretirement Survivor Benefit, determined in accordance with Section 3.5(c) hereof, shall be paid to Beneficiary's estate in a single sum distribution within 30 days after the date of Beneficiary's death.

  • The Election Form most recently accepted by the Committee at least 1 year prior to the Participant's death shall govern the payout of the Preretirement Survivor Benefit.


More Definitions of Preretirement Survivor Benefit

Preretirement Survivor Benefit means with respect to Employee, the amount designated by the Board and listed on Exhibit "A" to this Agreement to which Employee's Beneficiary will be entitled in the event Employee dies prior to terminating employment with the Company. A Preretirement Survivor Benefit will be payable in accordance with Section 3.3.
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Preretirement Survivor Benefit means a benefit that is the Actuarial Equivalent of the Participant's Vested SERP Benefit as of the date of such Participant's death and that is payable monthly to such Participant's Beneficiary in the form of a 20-year installment benefit.
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Preretirement Survivor Benefit means with respect to any Employee, the amount designated by the Board and listed on Exhibit "A" to the Plan to which the Employee's Beneficiary will be entitled in the event an Employee dies prior to terminating employment with the Company. A Preretirement Survivor Benefit will be payable in accordance with Section 4.3.
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Related to Preretirement Survivor Benefit

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

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

  • 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.

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

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

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

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

  • 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.

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

  • 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.

  • SERP Benefit means the benefit described in Section 5.1.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Disability Benefit means the benefit set forth in Article 8.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

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

  • Accrued Benefit have the meanings specified in ERISA.

  • Termination Benefit means the benefit set forth in Article 7.

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

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Actuarial equivalent means a benefit of equal value when

  • 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.

  • Eligible Spouse means a spouse of an Eligible Retiree who satisfies the requirements for eligibility described in the Eligibility section of this document, or an ex-spouse who is an Eligible Spouse with rights to coverage as an Eligible Spouse pursuant to a court order recognized by SHARP. A Spouse must be married to retiree at least one year prior to the effective date of retirement. A Spouse married after the retiree’s effective retirement date is considered a non-eligible spouse for purposes of the Plan. [See “Spouse”]

  • 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.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.