Examples of Social Security Retirement Age in a sentence
For a benefit commencing before a Participant's Social Security Retirement Age but at or after age 62, the Defined Benefit Dollar Limit will be adjusted in a manner which is consistent with the reduction for old-age insurance benefits commencing before Social Security Retirement Age under the Social Security Act.
The reduction will be 5/9 of 1% for each of the first 36 months and 5/12 of 1% for each additional month (up to 24 months) by which benefits commence before the month of the Participant's Social Security Retirement Age.
For a benefit commencing after a Participant's Social Security Retirement Age, the Defined Benefit Dollar Limit will be adjusted to the actuarial equivalent of the Defined Benefit Dollar Limit for a benefit commencing at the Participant's Social Security Retirement Age.
Table I provides the adjustments in the 0.75-percent factor in the maximum excess or offset allowance applicable to benefits commencing on or after age 55 and on or before age 70 to an Employee who has a Social Security Retirement Age of 65, 66, or 67.
Except as provided in (d) below, if a benefit payable to an Employee under an integrated plan commences at an age before the Employee's Social Security Retirement Age (including a benefit payable at the Normal Retirement Age under the Plan), the maximum excess or offset allowance shall be reduced (if necessary) in accordance with Subsection (c).