Pension Plan Benefit

Example Definitions of "Pension Plan Benefit"
Pension Plan Benefit. For the purposes of paragraph 1(b) and paragraph 2(c)(i), Employee's Pension Plan benefit will be Employee's accrued benefit under the Pension Plan, determined as of the earlier of (i) the date Employee begins to receive such Pension Plan benefit, or (ii) the date Employee begins to receive the supplemental retirement plan benefit, expressed (in either case) in the form of a single life annuity (payable for Employee's life) commencing as of the date determined pursuant to paragraph 4. In the... event payments of supplemental retirement benefits commence before payments of Employee's Pension Plan benefit commence, the supplemental retirement benefit shall be adjusted (if necessary) to reflect any difference between the Pension Plan benefit calculated pursuant to the preceding sentence and the actual benefit paid to Employee pursuant to the Pension Plan. View More
Found in Community Bank System, Inc. contract
Pension Plan Benefit. For the purposes of paragraph 1(b) and paragraph 2(c)(i), Employee's Pension Plan benefit will Will be Employee's accrued benefit under the Pension Plan, determined without regard to Employee's supplemental account balance under the Pension Plan. Such accrued benefit shall be determined as of the earlier of (i) the date Employee begins to receive such Pension Plan benefit, or (ii) the date Employee begins to receive the supplemental retirement plan benefit, expressed (in either case) in the... form of a single life annuity (payable for Employee's life) commencing as of the date determined pursuant to paragraph 4. 4; provided, however, that, if Employee retires in good standing from Employer after attaining at least age 62, then the amount described in clause (i) of paragraph 1(b) shall be determined without reduction for early retirement. In the event payments of supplemental retirement benefits commence before payments of Employee's Pension Plan benefit commence, the supplemental retirement benefit shall be adjusted (if necessary) to reflect any difference between the Pension Plan benefit calculated pursuant to the preceding sentence and the actual benefit paid to Employee pursuant to the Pension Plan. Plan View More
Found in Community Bank System, Inc. contract
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Pension Plan Benefit. The difference between: (a)benefits which would have accrued on behalf of a Manager under the Pension Plan with the following adjustments: (i)in the absence of the limitations provided by Sections 415 and 401(a)(17) of the Code, and (ii)had such Manager not reduced his or her compensation pursuant to a Deferred Compensation Plan; and (b)benefits actually accrued on behalf of a Manager under the Pension Plan
Found in Reinsurance Group of America contract
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