Spousal Benefits definition

Spousal Benefits means the aggregate value of property passing to or in trust for the benefit of the surviving spouse by reason of a decedent’s death and property held for the benefit of the surviving spouse in any trust created during a decedent’s lifetime of which the decedent was a settlor, reduced by:
Sample 1Sample 2Sample 3
Spousal Benefits means the SERP Benefits payable to a spouse or former spouse in accordance with Section 3.7.
Sample 1Sample 2
Spousal Benefits means benefits payable to a spouse or former spouse in accordance with Section 3.4.Section 1.3. Purpose of the PERI Plan. The PERI Plan is an unfunded plan maintained primarily for the purpose of providing additional retirement benefits for a select group of management or highly compensated employees, and participation in the PERI Plan is limited consistent with that purpose. PERI Benefits are intended to supplement benefits provided under the ERP by providing for the payment of additional benefits that would be payable under the ERP but for the limitations imposed by Code Section 401(a)(17), which limits compensation that may be counted for pension purposes.Section 1.4. Effective Date. Except as otherwise provided, this amended and restated PERI Plan will be effective as of the Effective Date.Section 1.5. Pre-2007 Amounts and Section 409A Transition Rules. Any PERI Benefits commencing between January 1, 2005 and December 31, 2006 were distributed in compliance with Code Section 409A transition rules governing nonqualified deferred compensation plans under which the time and form of payment of benefits is controlled by elections made under qualified plans. Under the transition rules, PERI Benefits that commenced before January 1, 2007 continued to be paid at the same time and in the same form as benefit payments were made to, or on behalf of, the PERI Participant or spouse under the ERP. Provisions governing the time and form of payment of those PERI Benefits are contained in the PERI plan document in effect as of October 3, 2004, a copy of which is attached as Appendix A to the PERI Plan. - 27 -
Sample 1Sample 2

Examples of Spousal Benefits in a sentence

  • Same-Sex Spousal Benefits: Comparison of Navy Officers andSociety (2004–2012) Question 44.

  • Surviving Spousal Benefits Surviving spousal benefits are available on the death of a member and may take the form of a spousal pension or a lump sum payment.

  • Martin, supra note 21, at 1; see also Goodwin Liu, Social Security and the Treatment of Marriage: Spousal Benefits, Earnings Sharing, and the Challenge of Reform, 1999 WIS.

  • Oppel, Jr., 3 States End Resistance to Spousal Benefits Order, N.Y. TIMES, Nov.

  • For more information about spousal waivers, see the PEPP Talk on Waiver of Spousal Benefits on our website.

  • The cost of the group insurance plan shall be borne by the Employer, except where specified to the contrary in the plan, and shall provide benefits in the following amounts: Accidental Death and Dismemberment $45,000.00; Effective January 2016 increase to $50,000 Dependent Life $10,000 Spouse $5,000 Child Surviving Spousal Benefits 24 Months after death of member Weekly Indemnity An amount equal to 66⅔% of weekly earnings up to a maximum of $550.00 to a maximum of 26 weeks.

  • Add:Health Single Dental SingleHealth Family Dental Family Remove:Health Single Dental SingleHealth Family Dental FamilyName of Spouse’s Insurer:Policy #:Coordination of Spousal Benefits: If an employee’s spouse has their own plan, the benefits payable under this plan will be coordinated so that the total amount received from both plans will not exceed 100% of the actual expense incurred.

  • If a trust is created upon the deceased spouse’s death or was created during the deceased spouse’s lifetime for the surviving spouse’s benefit, and such trust is essentially a “qualified terminable interest property” trust for purposes of§2056(b)(7) of the Internal Revenue Code of 1986, as amended, one-fourth of the value of such trust is a reduction from Spousal Benefits.

  • Can request Collect Spousal Benefits And people Own Social Security AARP.

  • The cost of the group insurance plan shall be borne by the Employer, except where specified to the contrary in the plan, and shall provide benefits in the following amounts: Group Term Life Insurance $60,000.00; Accidental Death and Dismemberment $50,000.00; Dependent Life $10,000 Spouse $5,000 Child Surviving Spousal Benefits 24 Months after death of member Weekly Indemnity An amount equal to 66⅔% of weekly earnings up to a maximum of $675.00 to a maximum of 26 weeks.

Related to Spousal Benefits

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Additional Benefits means quantifiable and verifiable enhancement of conservation of biodiversity and/or improvement of local livelihoods realized as a result of implementation of the REDD activities;

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

  • Special benefit means, for purposes of a property-based district, a particular and distinct benefit over and above general benefits conferred on real property located in a district or to the public at large. Special benefit includes incidental or collateral effects that arise from the improvements, maintenance, or activities of property-based districts even if those incidental or collateral effects benefit property or persons not assessed. Special benefit excludes general enhancement of property value.

  • 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;

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

  • 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.

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

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any deferral election then in effect, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained at the target level (reduced, but not below zero, by amounts paid under all such contingent bonus or incentive compensation awards upon the Change in Control of the Company to the extent such amounts relate to the same period of time); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits; provided that payments pursuant to clause (iv)(B) shall be paid on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, unless the Executive’s Separation from Service is due to death, in which event such payment shall be made within 90 days of the date of Executive’s death.

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

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

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

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

  • 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).

  • Bereavement Pay Benefits means the benefits as set out in Article II hereof.

  • 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.

  • SERP Benefit means the benefit described in Section 5.1.

  • Change in Control Benefits means the following benefits:

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Accrued Benefit have the meanings specified in ERISA.

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.