Examples of Annuity Commencement Date in a sentence
Retirement Annuity is credited in a yearly amount equivalent to the total payment that would be made during one year in monthly installments commencing on the Annuity Commencement Date for such Retirement Annuity.
During each calendar year a Participant's Contributions shall be deducted by the Employer from the earnings (as shown on the Participant's W-2 Form) received by the Participant during such calendar year while he/she has a payroll deduction order in effect and is in the Eligible Class and has not attained his/her Annuity Commencement Date, in an amount equal to 7.5% of such earnings effective and retroactive to July 1, 2013.
Such refund will be in an amount equal to the excess, if any, of the Participant's Contributions and Prior Plan Contributions, if any, received by the Insurance Company together with Credited Interest thereon to such Annuity Commencement Date over the sum of Retirement Annuity payments which have become payable in respect to the Participant's coverage.
A Participant's Annuity Commencement Date is his/her Normal Retirement Date unless an earlier or later Annuity Commencement Date is applicable to his/her coverage in accordance with the further terms of this Plan.
On or after his/her Early Retirement Date or Termination of Employment and before his/her Annuity Commencement Date, a Participant may elect to receive a cash refund, to be paid directly from the pension fund, in an amount equal to the Participant's contributions and Prior Plan Contributions, if any, with Credited Interest thereon to the date the election is made.