Deferred Vested Benefit Definition - Law Insider

Deferred Vested Benefit definitionDeferred Vested Benefit means the benefits described in Section 3.2(b) hereof.View SourceBased on 17 documents17Draft with AISplit ViewAI-Powered Contracts

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Get StartedSchedule a DemoDeferred Vested Benefit means the benefit, if any, described in Section 5.2(c).View SourceBased on 4 documents4Draft with AIDeferred Vested Benefit means the benefit payable under the Deferred Vested Benefits" article.View SourceBased on 3 documents3Draft with AI

Examples of Deferred Vested Benefit in a sentence

• The annual retirement benefit under this Section 2.2 is the applicable vested percentage of the Accrual Balance determined as of the effective date of the voluntary Termination of Employment by the Executive and is set forth as the Deferred Vested Benefit on Schedule A.

• A Participant who has five or more Years of Service will be eligible for a Deferred Vested Benefit if (i) his employment with an Employer Company and all Related Employees is terminated other than by reason of death before the earliest date on which he would be eligible for retirement under the terms of Sections 4.2 or 4.3, and (ii) he does not later reenter the service of any Employer Company or Related Employer.

• Notwithstanding the foregoing, the Deferred Vested Benefit of a Pre-2001 Participant shall not be less than the Deferred Vested Benefit, if any, the Participant would have earned under the provisions of this Plan immediately prior to January 1, 1992, taking into account for this purpose Compensation earned by the Participant through December 31, 1991 and Benefit Service earned by him through December 31, 1992 reduced by one-quarter of one percent (0.25%) instead of one-half of one percent (0.50%).

• A Participant’s Deferred Vested Benefit shall be payable as of his Normal Retirement Date or, if he has completed five Vesting Years and so elects, as of the first day of the month coincident with or next following his attainment of 55 years of age.

• A Participant’s Deferred Vested Benefit shall equal his Monthly Single-Life Benefit as determined in Section 4.2 based on his years of Service Credit earned prior to his most recent separation from service with the Employer Company and all Related Employers, reduced, if applicable, for early commencement as described below and further reduced by the Other Plan Benefits Offset described below.

More Definitions of Deferred Vested Benefit

Deferred Vested Benefit means the benefit payable pursuant to Section 6.04.View SourceBased on 3 documents3Draft with AIDeferred Vested Benefit. . shall mean the benefit to which a vested Participant would be entitled after a Break in Service, as calculated in accordance with Article 5 and Article 6.View SourceBased on 3 documents3Draft with AIDeferred Vested Benefit means, when referring to a participant, the benefit described in Article VII of this Plan.View SourceBased on 3 documents3Draft with AIDeferred Vested Benefit means the benefit to which a vested Member would be entitled after a Severance Date, if the Member is not eligible to receive an Early Retirement Benefit as of such date under the terms of the Plan.View SourceBased on 2 documents2Draft with AIDeferred Vested Benefit means the retirement benefit provided to a Participant or Vested Terminated Participant who qualifies and elects to receive benefits under Article 9.View SourceBased on 2 documents2Draft with AIDeferred Vested Benefit means a benefit determined pursuant to Section 4.02E (under benefit formulas prior to January 1, 1998) and payable to a Participant who is vested under the Pension Plan at the time of his or her termination of employment, and who is not Service Pension Eligible as of the date specified by the relevant provision of this Plan.View SourceBased on 2 documents2Draft with AIDeferred Vested Benefit means the retirement benefit provided to a Participant who qualifies and elects to receive benefits under Article 9.View SourceBased on 1 documents1Draft with AI

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Related Definitions

• Vested Benefits
• Accrued Benefit
• Plan Benefit
• Termination Benefit
• Deferred Retirement Date