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Early Retirement Benefit
Early Retirement Benefit contract clause examples
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Supplemental Retirement Benefit. A Participant’s `Supplemental Retirement Benefit’ means the difference between the Participant’s Modified Accrued Benefit and the sum of the Participant’s Accrued Benefit and the Participant’s Foreign Plan Benefit, expressed in terms of a single-life annuity effective as of the first day of the month next following the Participant’s Normal Retirement Date.

The “Index Retirement Benefit” for the Executive for any year shall be equal to the amount shown on Exhibit A-33] of this Agreement.

Normal Retirement Benefit. The Participant has been designated as a Group C Participant and shall be entitled to a Retirement Benefit calculated in accordance with the applicable provision of [Section 3.1] of the Plan. In addition to the offsets specified in Article III of the Plan, the Participant’s Retirement Benefit shall be calculated with an offset for the amount of any employer-funded benefit earned by the Participant under any other retirement plan sponsored by the Company or its subsidiaries, whether domestic or foreign.

Adjustments for Early Retirement. In the event a Participant incurs a Separation from Service prior to the Participant’s Normal Retirement Date, the Participant’s Supplemental Retirement Benefit shall be adjusted in the same manner that the Participant’s Accrued Benefit under the Pension Plan would be adjusted had such Participant elected to receive his Accrued Benefit under the Pension Plan # in the same form that the Participant elected to receive his Supplemental Retirement Benefit and # commencing on the later of the first day of the month next following his # Separation from Service or # 55th birthday.

Early Retirement Benefit: A Participant may retire after his 55th birthday and the date of completion of at least three (3) Years of Credited Service, but prior to his Normal Retirement Date, and be entitled to receive his Accrued Benefit (“Early Retirement Benefit”) commencing as of the first day of the calendar month coinciding with or next following the Participant’s 60th birthday. Alternatively, a Participant may elect to commence his Early Retirement Benefit (excluding any Pre-[Section 409A] Benefit) as of the first day of the calendar month coinciding with or next following his Retirement, or as of the first day of any subsequent calendar month which precedes his Normal Retirement Date, provided # that any election to commence the Participant’s Early Retirement Benefit prior to his Normal Retirement Date shall comply with the election rules set forth below and # that the Participant’s Early Retirement Benefit, paid in the normal form, shall be reduced five-twelfths of one percent (5/12 of 1%) for each full month or portion thereof by which the commencement of the Early Retirement Benefit precedes the Participant’s Normal Retirement Date.

Early Voluntary Termination Benefit. If Early Voluntary Termination occurs, the Employer shall pay the Executive the vested portion of the Deferral Account balance. This benefit shall be paid in quarterly installments between 2 years and 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent quarter following Separation from Service. During the payment period, interest shall be credited on the unpaid portion of the Deferral Account balance as described in [Section 3.1(b)(ii)]. The quarterly payments shall be amortized in such a way so as to produce equal payments over the remaining payment period. This will require quarterly reamortization for changes in the Crediting Rate.

Retirement means # the Termination of Employment of a Participant pursuant to which such Participant is eligible for an “Early Retirement Benefit” or “Normal Retirement Benefit” under the Pension Plan, and # the Termination of Employment of a Participant pursuant to which such Participant is eligible for a subsidized early retirement benefit, or a “normal” retirement benefit payable to an employee who terminates employment after attaining age 65, under any defined benefit pension plan sponsored by an Affiliated Company (other than the Pension Plan).

effect on the same date as the corresponding increase under the GE Pension Plan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and Plant Closing Retirement Option Plan.

A Participant who, if he separated from service, would not yet be eligible for Early Retirement under [Article 3] or Normal Retirement under [Article 4], and who becomes Disabled, shall be eligible to receive a Disability Retirement Benefit.

Retirement. This Agreement shall be terminated upon the early or normal retirement of the Officer under the benefit plan(s) in which the Officer participates pursuant to [Section 6] of this Agreement.

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