Primary Social Security definition

Primary Social Security means the estimated primary insurance amount under the Social Security law in effect on December 31, 1991.

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Primary Social Security means the monthly benefit which a retired Member or a terminated Member receives or would be entitled to receive at his 62nd birthday, or in the case of a Member who terminates employment after age 62, at the date his Benefit Service terminates as a primary insurance amount under the U.S. Social Security Act, as amended, whether he applies for such benefit or not, and even though he may lose part or all of such benefit for any reason. The amount of such Primary Social Security to which the retired or terminated Member is or would be entitled shall be estimated and computed by the Company for the purposes of the Plan as of the January 1 of the calandar year of retirement or termination on the following basis:

Primary Social Security means the annual amount payable at age 65 under the Social Security law in effect at retirement. If the Executive terminates employment prior to age 65, the Primary Social Security benefit is estimated assuming that the Social Security Law does not change and earnings are constant until age 65 at the level during the last full calendar year of employment.

Examples of Primary Social Security in a sentence

The additional monthly benefit shall be payable retroactively to the date of the Employee's retirement and only to and including the month preceding that for which the Employee is or might be eligible for 80% of Full Unreduced Primary Social Security or comparable law of the United States of America.
Print Name Date: Signature - - Primary Social Security Number First Name Middle Last Name - - Spouse’s Social Security Number First Name Middle Last Name Primary date of birth: / / ▇▇▇▇▇▇’s date of birth: / / Street No. Street Name Apt.
In no event shall payments under this Section, together with Primary Social Security Benefits and any regular benefits awarded under the Connecticut Workers' Compensation Act, exceed one hundred percent (100%) of the Participant's Final Average Earnings.
In determining such benefit, the Participant’s Final Average Rate of Compensation, Final Average Cap, and the Participant’s Primary Social Security Benefit shall be determined as of the date the Participant is determined to be subject to a Disability.
In addition, in calculating the amount of the offset for Primary Social Security and the other offsets and reductions listed in Section 5(a), it shall be conclusively presumed that the Executive started to receive those benefits as soon as he was eligible for them, without regard to whether he was actually receiving them.
Starting August 1, 2002, Executive's annual SERP payment, prior to offsets for Primary Social Security and the Sonoco Retirement Plan, will be $536,559.
In no event shall payments under this Section, together with Primary Social Security Benefits and outside income subject to Social Security Taxes, exceed one hundred percent (100%) of the Participant's Final Average earnings.
Long Term Disability Insurance - 66 2/3% of Maximum Eligible Salary - Maximum Monthly Benefit $3000 - Maximum Eligible Monthly Salary $4,500.00 - 90-Calendar Day Modified Fill Elimination Period - COLA No - Mental/Nervous Waiver: Same as Illness - Alcoholism/Drug Abuse Waiver: Same as Illness - 5% Minimum Payout - Pre-Existing Condition Waiver: Yes - Primary Social Security Offset - No Survivor Income - Offset Freeze: Yes - Educational Supplemental Program: No - Two Year Own Occupation 3.
Bene1ts of G7% of the teacher's salary (based on a 12-month year), but not greater than $2,S00.00 per month, less any bene1t paid or payable under Primary Social Security, Worker's Compensation, and other private or group plan, or occupational disease law.
For purposes of this Section I.A.(1), the maximum annual supplemental benefit, calculated as a single life annuity, shall not exceed 70% of the Executive's compensation for the last full calendar year before retirement less $12,145.00, less the Dauphin Pension Benefit and less the Primary Social Security Benefit.

More Definitions of Primary Social Security

Primary Social Security means the actual Social Security Benefit paid to the Participant at initial retirement.

Primary Social Security means the monthly Primary Insurance Amount payable at age 65 under Social Security multiplied by twelve. The Primary Insurance Amount will be calculated as of the date of retirement or termination or as of age 65, if earlier, based upon provisions of the Social Security Act in effect at that date. In determining this amount, all earnings subject to Social Security taxes prior to the date of termination will be used.

Primary Social Security means the primary benefit paid to an Officer under the Federal Social Security Act, as amended from time to time.