Social Security Retirement Benefit definition

Social Security Retirement Benefit means the monthly amount of the primary Social Security benefit payable, or projected to be payable, to a Participant (regardless of whether such Social Security benefit is or has been applied for) at his or her Normal Retirement Date. The Social Security Retirement Benefit shall include a benefit payable to the Participant under any other similar retirement program sponsored by the United States government to which the Company contributed (at least in part) or which the Company funded (in whole or in part) by tax or similar levy.
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Social Security Retirement Benefit will mean the value of one-half of the Executive's primary insurance amount under the Federal Social Security Act payable at the Executive's Social Security Retirement Age (as defined in Internal Revenue Code Section 415(b)(8)), and/or any other comparable primary insurance amount payable under another governmental retirement program. The Social Security Retirement Benefit will be calculated in the form of an Actuarial Equivalent annual single life annuity.
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Social Security Retirement Benefit means the benefit payable to an Employee from theU.S. Social Security system when the Employee’s reaches his or her Full Social Security Retirement Age.
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Examples of Social Security Retirement Benefit in a sentence

  • Benefits for salaried employees are based upon a percentage of the employee's average compensation during the preceding ten years, reduced by 50 percent of the Social Security Retirement Benefit.

  • The parties further agree that, in such case, the individual's LTD benefit shall be reduced by the amount of the Social Security Retirement Benefit as if it were a Social Security Disability Benefit, provided, however, that no such reduction shall apply to any LTD disability beneficiary who was receiving LTD benefits prior to the effective date of the ordinance implementing the provisions of this Article.

  • Annual Social Security Retirement Benefit – If no Annual Social Security Retirement Benefit is provided, Managed Accounts will generate an estimated amount based on your spouse or partner’s current salary.

  • Admin., Estimating Your Social Security Retirement Benefit, http:// www.ssa.gov/pubs/10070.html#estimate (on file with the Harvard Law School Library) (ex- plaining how to calculate social security benefits).

  • A Participant’s Primary Social Security Retirement Benefit is the estimated Primary Insurance Amount to which the Participant is entitled at his Normal Retirement Date of Late Retirement Date, if later.

  • You can also receive a Social Security Statement online or by calling the toll-free number: 800-772-1213Social SecurityWhat is the maximum Social Security Retirement Benefit payable?The maximum benefit depends on the age you retire.

  • The Primary Social Security Retirement Benefit of a Non-Grandfathered Participant shall be determined as of December 31, 2006.The foregoing freeze shall not apply to Grandfathered Participants.

  • When a person turns 65 they are eligible to enroll in Medicare, even though they are not eligible to take their full Social Security Retirement Benefit.

  • The parties further agree that, in such case, the individual's LTD benefit shall be reduced by the amount of the Social Security Retirement Benefit as if it were a Social Security D isability Benefit, provided, however, that no such reduction shall apply to any LTD disability beneficiary who was receiving LTD benefits prior to the effective date of the ordinance implementing the provisions of this Article.

  • This offset formula provided a monthly Normal Retirement Benefit of 55% of the Participant's Average Monthly Compensation, less 50% of the Participant's Primary Social Security Retirement Benefit.

Related to Social Security Retirement Benefit

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

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

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

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

  • Social Security Benefit means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.

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

  • 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;

  • SERP Benefit means the benefit described in Section 5.1.

  • 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.

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

  • Accrued Benefit have the meanings specified in ERISA.

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

  • Social Security Benefits means any social insurance, pension insurance benefits, medical insurance benefits, work-related injury insurance benefits, maternity insurance benefits, unemployment insurance benefits and public housing reserve fund benefits or similar benefits, in each case as required by any applicable Law or contractual arrangements.

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

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

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

  • Disability retirement for plan 1 members, means the period

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Normal Retirement Age means the Executive's 65th birthday.

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

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

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

  • 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)).