When both the employee and spouse are age 65, the employee's pension is reduced by 10 percent to provide the spouse with an annuity of 55 percent of the reduced pension. Thus, the 55-percent option would yield a spouse annuity equal to 49.5 percent of the employee's normal, straight-life pension (90 percent x 0.55).or example, a plan may provide a spouse's pension if death occurs at any age with 10 years of service, although early retirement is at age 55 with 10 years of service. A small number of plans had age requirements for the spouse's benefit more stringent than those for early retirement.
definition : lapel. Lapels are the folded flaps of cloth on the front of a jacket or coat, and are most commonly found on formal clothing and suit jackets. Usually they are formed by folding over the front edges of the jacket or coat and sewing them to the collar, an extra piece of fabric around the back of the neck.
The part of a garment, such as a coat or jacket, that is an extension of the collar and folds back against the breast. laÂ·peledâ², laÂ·pelledâ² adj. lapel. laâ¢pel. n. the front part of a garment, as a coat or shirt, that is folded back on the chest and is joined to a collar or forms one continuous piece with it.