PRSB Supplemental Lump Sum

Example Definitions of "PRSB Supplemental Lump Sum"
PRSB Supplemental Lump Sum. The single sum Actuarial Equivalent of the PRSB Monthly Supplemental Retirement Income determined as of the date of Key Employee's death; provided however, if Key Employee previously established an employee grantor trust pursuant to an agreement between the Company and Key Employee, the PRSB Supplemental Lump Sum shall be reduced by the Pre Tax Value of Key Employee's Grantor Trust. If Key Employee has a Domestic Partner at death, the PRSB Supplemental Lump Sum shall be adjusted to reflect the... fact that the Domestic Partner is not eligible for pre retirement survivor benefits under the Retirement Plan and that the monthly survivor income from the Disability and Survivorship Plan is payable, if at all, for only up to 10 years following Key Employee's death. The purpose of such adjustment is to make payments to the Domestic Partner equivalent to the payment which would have been made to such Domestic Partner had he or she qualified as a Spouse under the Retirement Plan, taking into account payments to be made from the Disability and Survivorship Plan, the Retirement Plan and this Agreement. View More
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