Defined Benefit Fraction. Defined The fraction, for any Plan Year, where the numerator is the "projected annual benefit" and the denominator is the greater of 125% of the "protected current accrued benefit" or the normal limit which is the lesser of (1) 125% of the maximum dollar limitation provided under Code section 415(b)(1)(A) for the Plan Year or (2) 140% of the amount which may be taken into account under Code section 415(b)(1)(B) for the Plan Year, where a Participant's:
Appears in 10 contracts
Sources: Retirement & Savings Plan (Bank Jos a Clothiers Inc /De/), Retirement Savings Plan and Trust Agreement (Spieker Properties Inc), Retirement Savings Plan and Trust Agreement (Southdown Inc)
Defined Benefit Fraction. Defined The fraction, for any Plan Year, where the numerator is the "projected annual benefit" and the denominator is the greater of 125% of the "protected current accrued benefit" or the normal limit which is the lesser of (1i) 125% of the maximum dollar limitation provided in effect under Code section 415(b)(1)(A) for the Plan Year or (2ii) 140% of the amount which may be taken into account under Code section 415(b)(1)(B) for the Plan Year, where a Participant's:
Appears in 6 contracts
Sources: Savings Plan Amendment (New Nisource Inc), 401(k) Maximum Advantage Program and Trust Agreement (Gerber Scientific Inc), 401(k) Savings Plan and Trust Agreement (Advo Inc)
Defined Benefit Fraction. Defined The fraction, for any Plan Year, where the numerator is the "projected annual benefit" and the denominator is the greater of 125% of the "protected current accrued benefit" or the normal limit which is the lesser of (1) 125% of the maximum dollar limitation provided under Code section 415(b)(1)(A) for the Plan Year or (2) 1402)140% of the amount which may be taken into account under Code section 415(b)(1)(B) for the Plan Year, where a Participant's:
Appears in 1 contract