Pension Plan Summary Plan Description
5.1 Definition of Accrued Benefit
Your benefit is expressed by the Plan as a monthly payment beginning at Normal Retirement Age (usually age 65), continuing through the month in which you die, with no survivor benefit. That payment, in the amount you have earned under the Plan's rules, is your "Accrued Benefit." This Article discusses how you determine your Accrued Benefit. You may elect to receive your Accrued Benefit in a form other than a single life annuity (see Article 7), but any reference in this booklet to Accrued Benefit means the monthly (or annual, if so indicated) payment amount payable to you at Normal Retirement Age under a single life annuity.