Common use of DROP Benefit Clause in Contracts

DROP Benefit. The Participant’s DROP Benefit shall be the regular monthly retirement benefit to which the Employee would have been entitled if the Employee had actually terminated employment and retired on the DROP Date (less the annuity withdrawal reduction as set forth in Subsection F and/or actuarial reductions as a result of the Employee electing an Optional form of benefit under the Plan, if applicable).

DROP Benefit. The Participantparticipant’s DROP Benefit shall be the regular monthly retirement benefit to which the Employee member would have been entitled if the Employee member had actually terminated employment and retired on the DROP Date (less Date. The participant’s DROP Benefit shall be credited monthly to the annuity withdrawal reduction as set forth in Subsection F and/or actuarial reductions as a result of the Employee electing an Optional form of benefit under the Plan, if applicable)participant’s individual DROP Account.