Vested Retirement Benefit definition

Vested Retirement Benefit means the benefit determined in accordance with Section 7.5.
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Vested Retirement Benefit means the Retirement Benefit multiplied by the vesting schedule described in Article 4 hereof.
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Vested Retirement Benefit means the benefit described in Section 4.4.
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Examples of Vested Retirement Benefit in a sentence

  • In the event that the employment of the Participant shall be terminated by the Plan Sponsor without cause, but including Disability, then this Agreement shall terminate upon the date of such termination of employment and the Plan Sponsor shall pay to the Participant as severance compensation his or her Vested Retirement Benefit.

  • If a Participant dies after commencement of the payment of his Deferred Vested Retirement Benefit under this Section 4.4, his Surviving Spouse or Eligible Children will be entitled at Participant’s death to receive (in accordance with Sections 4.6 and 4.7) a benefit equal to fifty percent (50%) of the Participant’s Deferred Vested Retirement Benefit.

  • The benefits payable to a Surviving Spouse or Eligible Children under this Section 4.8(f) will be no less than the benefits payable to a Surviving Spouse or Eligible Children under Section 4.4 (regarding the Deferred Vested Retirement Benefit) as if the Participant had died immediately prior to age fifty-five (55).

  • The Normal Retirement Benefit, Early Retirement Benefit, Disability Retirement Benefit or Deferred Vested Retirement Benefit under the Plan will be payable to the Participant in the form of a monthly benefit payable for life.

  • The monthly installments made under his Vested Retirement Benefit will be the same as the monthly installments under his Accrued Benefit.

  • If a Participant terminates employment with the Company and is entitled to a Deferred Vested Retirement Benefit provided under the Retirement Plan, the Participant shall be entitled to a monthly benefit equal to the Participant's Unrestricted Benefit less the Maximum Benefit and less any Supplemental Retirement Benefit.

  • To arrive at the amount of the Deferred Vested Retirement Benefit payments to commence at the Participant’s Normal Retirement Date, the Early Termination reduction calculated under Section 4.4(c) (and indirectly under Section 4.4(d), and Section 4.4(e)) will be limited to the maximum percentage reduction for Early Retirement at age fifty-five (55) (i.e., twenty-one percent (21%)).

  • Service as an Executive Officer after age sixty (60) shall be recognized for purposes of vesting for an Employee’s Supplement Retirement Benefit or Early Vested Retirement Benefit.

  • A Participant who at the time of his Termination of Service (for reasons other than death) has completed at least five (5) years of Vested Service shall be eligible for a Vested Retirement Benefit.

  • If the Vested Retirement Benefit thus determined commences prior to the Member's Normal Retirement Age, it shall be reduced as of the date the first Vested Retirement Benefit payment commences by 5/9 of one percent for each of the first 60 months and 5/18 of one percent for each of the next 60 months, as applicable, by which his Vested Retirement Benefit payment precedes his Normal Retirement Age.


More Definitions of Vested Retirement Benefit

Vested Retirement Benefit means the aggregate annualized value of any benefits in respect of a Participant under any pension, retirement, or deferred profit sharing plan maintained by the Corporation (other than this Plan) that either have been paid prior to the Participant’s Benefit Commencement Date or are vested as of the Participant’s Benefit Commencement Date. For this purpose,
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Vested Retirement Benefit means the Benefit which is non-forfeitable in accordance with Section 3.9-N.
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Vested Retirement Benefit means Vested Retirement Benefit as defined in the Applicable Exhibit.
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Vested Retirement Benefit means the nonforfeitable Retirement ------------------------- Benefit of a Member who has:
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Vested Retirement Benefit means the Benefit provided under Section 5.9 which is nonforfeitable, except as provided therein.
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Vested Retirement Benefit means the Normal Retirement Benefit described in Section 2.1.1 that the Executive has earned as of the end of the Plan Year preceding either: (i) Separation from Service; or (ii) the Executive’s death.
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Related to Vested Retirement Benefit

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

  • Normal Retirement Benefit means an annual benefit payment in the amount of Sixty-Six Thousand Three Hundred and Seventy-Three Dollars ($66,373.00) for a period of fifteen (15) years.

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

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

  • 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.

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

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

  • 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;

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

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

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

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

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

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Retirement Age means the earlier to occur of:

  • 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.

  • Disability retirement for plan 1 members, means the period

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

  • Severance from Service Date means the earlier of:

  • 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.

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

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

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