Benefit Increase Sample Clauses

Benefit Increase. Benefit payments may be increased as provided in Section 2.1.3.
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Benefit Increase. (i) The Pension Plan shall be amended to provide that, effective as of February 2, 2024, (A) the Normal Retirement Date shall be the first of the month following a player’s sixty-second (62nd) birthday, and (B) the Early Retirement Date shall be any date on or after the first day of the month following the player’s forty-fifth (45th) birthday and prior to the player’s Normal Retirement Date. The Early Retirement Pension shall be the actuarial equivalent of the Normal Retirement Pension, as determined using modified actuarial equivalence factors to be specified in the Pension Plan amendment effective as of February 2, 2024.
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Benefit Increase. (a) Effective August 1, 1999, a Participant (including a retired or former Participant) who was credited with a least one-quarter Pension Credit in 1999 shall have the monthly benefit amount for Pension Credits earned and credited from and after January 1, 1999 increased to $93.00 if Local Union No. 3 Pension Credits and to $98.00 if Local Union No. 772 Pension Credits, including for purposes of any survivor and death benefits. If such Participant retired, terminated or died in 1999 after being credited with a least one- quarter Pension Credit in 1999 and payment of the Participant’s Pension or the survivor or death benefit commenced before August 1, 1999, said increase in the monthly benefit amount shall be retroactively effective to its Annuity Starting Date or payment date, respectively.
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Related to Benefit Increase

  • Benefit Increases Benefit payments may be increased as provided in Section 2.1.3.

  • Merit Increases (a) Subject to documented assessment and performance review undertaken pursuant to the Performance Management System, an employee on anniversary date may be granted an increase of up to five pay increments in the pay scale, not to exceed the control point maximum.

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range:

  • Wage Increase 1. The minimum hourly wage amounts in the salary table in column I (job grades 1 up to and includ- ing 3) concern the statutory minimum wage and are adjusted in the event of an increase in the statutory minimum wage.

  • Commitment Increase (i) On any date prior to the latest Termination Date, the Borrowers may increase the aggregate amount of the Commitments by an amount not less than $50,000,000 for any such increase but not more than $500,000,000 (the “Maximum Accordion Amount”) for all such increases (any such increase, a “Commitment Increase”) by designating one or more of the existing Lenders or one or more Affiliates thereof (each of which, in its sole discretion, may determine whether and to what degree to participate in such Commitment Increase) or one or more other Persons that at the time agree, in the case of any existing Lender, to increase its Commitment (an “Increasing Lender”) and, in the case of any other Person or an Affiliate of a Lender (an “Additional Lender”), to become a party to this Agreement; provided that (i) each Additional Lender shall be acceptable to the Administrative Agent, and each Increasing Lender and each Additional Lender shall be acceptable to the Fronting Banks, (ii) the allocations of the Commitment Increase among the Increasing Lenders shall be determined by the Administrative Agent in consultation with each Borrower, and (iii) the amount of the Commitment of each Additional Lender shall not be less than $5,000,000. The sum of the increases in the Commitments of the Increasing Lenders pursuant to this subsection (b) plus the Commitments of the Additional Lenders upon giving effect to the Commitment Increase shall not exceed the amount of the Commitment Increase. The Borrowers shall provide prompt notice of any proposed Commitment Increase pursuant to this Section 2.06(b) to the Administrative Agent, which shall promptly provide a copy of such notice to the Lenders and the Fronting Banks.

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will:

  • Wage Increases The wage rates in this Agreement will only be increased in accordance with any increases which may be awarded by the Australian Fair Pay Commission through wage reviews. The level of any increases will be such that the percentage wage increase as set out in Clause 15 of this agreement will be maintained. No additional increases in wage rates will apply to the rate of pay in Clause 15 of this Agreement while it is in operation.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Salary Increase 46.01 Effective July 1, 2020 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2021 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2022 an increase equal to 1% will be added to the job rates and to the salaries of all employees.

  • Salary Increments The Employer may grant an increment for meritorious service after an Employee has served for a period of twelve (12) months following the day established in Article 25.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 25.04, 25.05, or 25.06.

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