Social Security Supplement definition

Social Security Supplement means a Participant's benefit which both commences and terminates before the Participant's Social Security Retirement Age and does not exceed the old age insurance benefit under the Federal Social Security Act to which the Participant is entitled. For purposes hereof, "Social Security Retirement Age" means the age used as the retirement age for the Participant under Section 216(l) of the Federal Social Security Act, except that such section shall be applied without regard to the age increase factor, and as if the early retirement age under Section 216(l)(2) of such Act were sixty-two (62). As of the Effective Date of this Restatement of the Plan, the Social Security Retirement Age is determined on the basis of a Participant's calendar year of birth as follows: SOCIAL SECURITY CALENDAR RETIREMENT AGE YEAR OF BIRTH
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Social Security Supplement described below shall be provided to Executive as an additional benefit under the Supplemental Plan. The Social Security Supplement shall be determined as follows:
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Social Security Supplement means an amount equal to the difference between the primary insurance amount the Pilot Participant would have received had he remained in employment until age 65 minus either the amount of the monthly Social Security benefit he actually receives or the amount of temporary income he receives under the Qualified Pension Plan, whichever is applicable.
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Examples of Social Security Supplement in a sentence

  • Eliminate the Social Security Supplement plan for termination on or after the first of the month following ninety days after ratification.

  • If enrolled, the retiree will receive a Supplement based on a percent- age of the monthly benefit (which is based on his or her Longview accrued benefit as adjusted for the timing and form of the benefit), as follows: Age 60 24% Age 61 30% Age 62 and older 40% • If eligible, the Social Security Supplement amount will be paid to the retiree until the earlier of the month of attaining age 65 or until the retiree is no longer en- rolled in either health care plan stated above.

  • For any eligible participant whose early retirement (as de- fined by the Plan) occurs on a date on or after attaining age 60 and prior to attaining age 65, he or she will be ▇▇▇- gible for a Social Security Supplement (subject to the rules described below) which will commence on the later of his or her benefit commencement date or the first of the month after attaining age 60.

  • For any eligible participant whose early retirement (as defined by the Plan) occurs on a date prior to attaining age 60, he or she will be eligible for a Social Security Supplement commencing no earlier than the first day of the month after attaining age 60.

  • The "Social Security Supplement" described below shall be provided to Executive as an additional benefit under the Supplemental Plan.

  • In no case will the Social Security Supplement be greater than the amount of the participant’s Social Se- curity benefit as of his or her Social Security normal retirement date.

  • Ap- propriate paperwork must be completed to commence the Social Security Supplement.

  • The annual retirement benefit provided to the Executive under this Section 3(b) ("SERP Benefit") shall equal the amount which, when added to all other annual retirement benefits provided by the Company (including benefits provided under the Pension Plan, the Commonwealth Edison Company Supplemental Management Retirement Plan and the Social Security Supplement paid by the Company until the Executive attains age 65) results in the SERP Benefit described in the preceding paragraph.