Example ContractsClausesform and time of payment of deferred compensation accountVariants
Form and Time of Payment of Deferred Compensation Account
Form and Time of Payment of Deferred Compensation Account contract clause examples

Upon a Participant's Early Retirement, Disability or death, payment of his Accrued Benefit shall commence or be made pursuant to Article 3, 6 or 77], as applicable. Upon a Participant's separation from service at or after Normal Retirement Age, # his pre-2005 Benefit shall commence or be made at the time elected by the Participant in accordance with the terms of the First Bancorp Employees' Pension Plan, and # his Post-2004 Benefit shall commence or be made on his Normal Retirement Date or Delayed Retirement Date, as applicable.

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Early Retirement Benefit - If a Participant shall separate from service as an Employee following his 55th birthday but prior to. his Normal Retirement Date, this shall be considered as an Early Retirement, provided the Participant shall have completed 15 Years of Service in the employ of the Employer. Payment of the Participant's Pre-2005 Benefit shall start on the date the Participant's retirement benefits under the First Bancorp Employees' Pension Plan start, and payment of his Post-2004 Benefit shall start on his Normal Retirement Date. In either case, the amount of such benefit shall be determined as follows:

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