Lifetime Benefit Clause Samples

Lifetime Benefit. A = A(1)f) -A(1)g) Benefit B (Lifetime Benefit) B(1) GMCL portion of Lifetime Benefit B (i) Defined Benefit Pension - Indexed with AIW (Sections M.3.01(a)(i), (ii), (iii), (iv) of the 2007 GMCL Plan) - GMCL minimum basic benefit rate at March 1, 2003 based on the 2003 GMCL plan - GMCL frozen average base salary and GMCL frozen average YMPE as at March 1, 2003 a) Minimum Basic Benefit B (Section 5.04 (a)) = D12 x 12 x D1 x (1 + D11) b) 1% excess benefit (Section 5.03(a)(i)) = 1% x D3 x D1 x (1 + D11) - B(1)(i)a) c) 0.75% over AYMPE (Section 5.03(a)(ii)) = 0.75% x (D3 - D4) x D1 x (1 + D11)