Retirement Benefit Payments definition

Retirement Benefit Payments means the benefits determined pursuant to subparagraphs 3.1 and in accordance with Schedule “B”, and reduced or adjusted to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5, 6, and 7 hereof; (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Bank; or (iii) required in order for the Bank to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
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Retirement Benefit Payments means the benefits determined pursuant to subparagraphs 3.1 or 3.2 and in accordance with Schedule "B", and reduced or adjusted to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5, 7, and 8 hereof; (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Bank or the Holding Company; or (iii) required in order for the Bank or the Holding Company to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI).
Sample 1
Retirement Benefit Payments means the benefits determined pursuant to subparagraphs 3.1 or 3.2 and in accordance with Schedule "B", and reduced or adjusted to the extent: (i) required under the other provisions of this Agreement, including, but not limited to, Paragraphs 5 and 7 hereof, (ii) required by reason of the lawful order of any regulatory agency or body having jurisdiction over the Bank or the Holding Company; or (iii) required in order for the Bank or the Holding Company to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (e.g., FICA, FUTA, SDI). The maximum term of any Executive Benefit or Retirement Benefit Payments payable over time under the Agreement shall be twenty-five (25) years from the first date of payment of such Executive Benefit.
Sample 1

Examples of Retirement Benefit Payments in a sentence

  • The Administrative Committee, upon application by the Participant, shall grant him one or more successive one- (1-) year postponements of the date on which payment of Retirement Benefit Payments will commence.

  • Regardless of whether any postponement granted under this Section 5.1.2 is then in effect, the payment of Retirement Benefit Payments shall in all events commence with the first month of the first Plan Year beginning after the Retirement Date.

  • The Association of Jewish Organizations and Communities (VAAD) states there are approximately 300,000 persons of Jewish ancestry in the country.

  • The maximum term of any Executive Benefit or Retirement Benefit Payments payable over time under the Agreement shall be twenty-five (25) years from the first date of payment of such Executive Benefit.

  • Retirement Plan, will provide the percentage of the final 36 months average Compensation, for life (15 years minimum) as illustrated below: Retirement Benefit Retirement Age Percentage 50&under 50.00%51 51.20%52 52.40%53 53.60%54 54.80%55 56.00%56 56.57%57 57.14%58 57.71%59 58.28%60 58.85%61 59.42%62 60.00%63 60.56%64 61.13%65&over 161.70% 1.B Commencement of Retirement Benefit Payments.

  • The Administrative Committee, upon application by the Participant, shall grant him one or more successive five- (5-) year postponements of the date on which payment of Retirement Benefit Payments will commence.

  • To satisfy the requirements of this Section 5.2, (i) an application to the Administrative Committee for any five- (5-) year postponement must be submitted (on a form provided by the Committee) not less than three hundred sixty-five (365) days before the date prescribed for the payment of Retirement Benefit Payments to commence (as such date may have previously been postponed pursuant to this Section 5.2); and (ii) no such Payments shall have previously become due and payable.

  • If an Event of Insolvency occurs after the Retirement Benefit Commencement Date, then in lieu of any Retirement Benefit Payments due on or payable after such Date, the Participant shall thereafter only be entitled to receive a Guaranteed Net Value Payment for each month beginning after the close of the Insolvency Year and ending on or before the earlier of the Causal Termination Date or the Guaranteed Full Net Value Payout Date.

  • Be deemed to have attained an age equal to the Executive's actual age plus five (5) years, for purposes of commencing the Retirement Benefit Payments as provided under Section 1.B of the Executive's Plan Agreement under the ONEOK, Inc.

  • The Retirement Benefit Payments shall commence on the termination of the Director's service, payable annually in one (1) installment at the end of each Plan Year, and continue until the Director's death.

Related to Retirement Benefit Payments

  • 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;

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

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

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

  • SERP Benefit means the benefit described in Section 5.1.

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

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

  • 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.

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

  • 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.

  • Employment benefits means all benefits provided or made

  • Termination Benefits means the benefits described in Section 4.1(b).

  • relevant benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

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

  • Monthly Benefit means the monthly amount payable by Lincoln to you if you are Disabled or Partially Disabled.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • 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.

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

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

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • relevant benefit means any benefit specified in paragraph 21(2); and