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.
palm1. 1  the part of the inner surface of the hand that extends from the wrist to the bases of the fingers. 2  the corresponding part of the forefoot of an animal. 3  the part of a glove covering this part of the hand. 4  Also called sailmaker's palm. a stiff rawhide or metal shield worn over this part of the hand by sailmakers to serve as a thimble. 5. a linear measure of from 3 to 4 inches (7.5 to 10 cm), based on the breadth of the hand.