Retirement Benefit Account definition

Retirement Benefit Account means the amount, if any, transferred from the Directors’ Retirement Plan to this Plan in accordance with Section 2.4.
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Retirement Benefit Account means the bookkeeping account established for the Participant as described under Article 5.
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Retirement Benefit Account means in respect of a Member at any time or on the happening of any event the amount held by the
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Examples of Retirement Benefit Account in a sentence

  • The University will contribute 6.02% of basic regular salary up to the YMPE, and 7.65% of basic regular salary in excess of the YMPE, and 5.05% of basic regular salary to the Defined Retirement Benefit Account.

  • When the change in the CPI exceeds 3%, the Investments and Administration Committee may authorize additional indexing from the Supplementary Retirement Benefit Account (Note 9) to pensioners who are at least age 66, provided the actuary certifies that the increase can be financed by the assets of the Supplementary Retirement Benefit Account on a sound actuarial basis.

  • The Supplementary Retirement Benefit Account is a reserve to provide pensioners who have reached age 66 with increases that are supplemental to the increases provided under the Basic Plan (Note 1(f)).

  • Supplementary increases are authorized by the Staff Pension Plan Investments and Administration Committee in consultation with the plan actuary and are subject to the availability of funds in the Supplementary Retirement Benefit Account.

  • Except for the assets of the Defined Retirement Benefit Account (“DRBA”), the assets of the Plan are pooled for investment purposes with the assets of the University of Victoria Money Purchase Pension Plan.

  • The Defined Retirement Benefit Fund holds the assets of the Defined Retirement Benefit Account from which defined benefit pensions and supplements are paid.

  • The employee will have to maintain a Retirement Benefit Account with any permitted savings intermediary in accordance with the scheme framed and prescribed by the Central Government.

  • Hence, taxation of withdrawals from a Retirement Benefit Account would be harsh.

  • Members contribute an additional 0.25% of salary to the Supplementary Retirement Benefit Account (Note 9).

  • The University contributes an additional 0.25% of salary to the Supplementary Retirement Benefit Account (Note 9).

Related to Retirement Benefit Account

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

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • 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;

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

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

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

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

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

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

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Retirement fund means the "Washington law enforcement

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

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

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

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

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

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Employer Contributions means all amounts paid into ASRS by an

  • 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.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;