Lump Sum Benefit definition

Lump Sum Benefit means a retirement fund lump sum benefit or retirement fund lump sum withdrawal benefit;”;

Lump Sum Benefit means the capital amount paid to a Staff Member on cessation of service at the Bureau, or to his "survivors", or, in the case of a married woman, to her widower, in the event of the employee's death.

Lump Sum Benefit means

Examples of Lump Sum Benefit in a sentence

• The Lump Sum Benefit shall be determined by the Company based on the Pension Benefit Guaranty Corporation interest rate for immediate annuities in effect for December, 2002 and the 2000 Annuity Mortality Table.

• The portion of the Severance Benefit consisting of the Lump Sum Benefit shall be paid to the Executive in a lump sum payment within sixty (60) days following the Executive’s Termination of Employment.

• Upon a Participant's involuntary Termination of Employment prior to reaching the Early Retirement Date, for reasons other than death, disability or discharge for cause, the Participant shall become 100% vested and the Company shall pay to the Participant as compensation for services rendered prior to such Termination of Employment the "Immediate Lump Sum Benefit" as defined in Schedule A.

• If the Participant had timely elected and qualified to receive a Lump Sum Benefit, it shall be calculated in the same manner as provided in Section 4.2 as if the Participant were alive; e.g., calculated as of the Participant's death applying the Mortality Tables and the GAAP Rate, both as in effect for the calendar year immediately preceding the calendar year of the Participant’s death, but using the Participant’s age, Years of Service and other factors as of the Participant’s date of death.

• The Executive acknowledges that, under current tax law, he or she will be considered to have taxable compensation income on such payment date in an amount equal to the Lump Sum Benefit.

More Definitions of Lump Sum Benefit

Lump Sum Benefit means the part of the Member’s benefit that is paid as a lump sum.

Lump Sum Benefit means a one time payment equal to the actuarial equivalent, on the date of such payment, of the Monthly Benefits remaining payable hereunder. In the event of a "Change of Control" of the Bank, the Employee, or if he is then deceased, the Beneficiary, shall have an irrevocable right to elect to receive a lump sum payment.

Lump Sum Benefit means the aggregate of the lump sum benefits that may be paid to the member from the sources set out in regulation 2.8(1).

Lump Sum Benefit means any benefit payable under the legacy scheme or the 2015 scheme by way of a lump sum;

Lump Sum Benefit means any benefit payable under a pension scheme 20

Lump Sum Benefit means a single lump sum payment in an amount equal to the lesser of (i) the actuarial equivalent present value of the Normal Retirement Benefit, which shall be determined by assuming that the Executive receives his Normal Retirement Benefit over the Benefit Period, or (ii) $1,370,469.

Lump Sum Benefit means any benefit other than a Pension Benefit;