Accrued Service definition

Accrued Service shall be calculated based on an employee’s hours paid (excluding overtime), except as modified in this Agreement.
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Accrued Service means a Member’s credited service for employment rendered before the date of an actuarial valuation of the Retirement System and before July 1, 2014.
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Accrued Service means the years of service and/or contributions accrued by a Participant toward Vested Rights. Years of service shall be calculated from the effective date of the Pension Bylaws or Rules or the initiation of contributions on behalf of the Employee, whichever occurs later. Service after the Employee reaches age eighteen (18) shall be counted.
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Examples of Accrued Service in a sentence

  • Sometimes referred to as “accrued liability” or “past service liability.” Accrued Service.

  • Accrued Service Service credited under the system which was rendered before the date ofthe actuarial valuation.

  • In no cases, however, shall more than five (5) years of Accrued Service be required to obtain Vested Rights to a benefit.

  • An Actuarial Valuation must include a funding schedule illustrating the prospective funding of all Vested Rights and of all Accrued Service of Participants of the Pension Fund within a time period of no less than twenty (20) years.

  • The chance that larger moves will occur in practice - which means that margins will be insufficient to cover losses - is, at 3.5 standard deviations and under the assumption of log normality, 1 in 2,000 in any day, and 1 in 9 over a whole year.

  • The second payment shall be equal to the remaining balance of the Accrued Service Award, reflecting actual investment income earned and/or expenses incurred, or other transactions that occurred up to the date of payment.

  • Sometimes referred to as “accrued liability” or “past service liability.” Accrued Service - The service credited under the plan which was rendered before the date of the actuarial valuation.

  • Lump sum payable to the firefighter’s designated beneficiary equal to the Actuarial Present Value of the firefighter’s Accrued Service Award at time of death.

  • Sometimes referred to as "accrued liability" or "past service liability." Accrued Service.

  • Lump sum payment equal to the Actuarial Present Value of the firefighter’s Accrued Service Award at time of total and permanent disability as defined by #13.


More Definitions of Accrued Service

Accrued Service means a Member’s credited service for employment rendered before July 1, 2014.
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Accrued Service used to calculate your retirement income benefit; and (iii) your "Total Service" for purposes of determining the applicability of any early retirement reduction factor. The crediting of service applies solely for these purposes and is not intended to enhance any other Kodak benefit or compensation.
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Accrued Service shall be calculated based on an employee’s hours paid (excluding overtime), except as modified in this agreement. NEW “NORTHERN SERVICE” shall be the period of time an employee has been continuously employed in Xxxxxxxx, Flin Flon or The Pas.
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Accrued Service means the number of years service which a member has completed and in the event of the final year of service being incomplete shall include such part of that year as was completed in terms of months.
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Accrued Service means the number of years’ service which a member has completed and in the event of the final year of service to 31st May 2013 being incomplete shall include such part of that year as was completed in terms of days. It shall include any additional service purchased by way of additional personal contributions to 31st May 2013 and service transfers made to that date.
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Related to Accrued Service

  • Compensation Accrued at Termination means the following:

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Accrued Day(s) Off means the paid day(s) off accruing to an employee resulting from an entitlement to the 38 hour week as prescribed in Clause 6. - Hours of this award.

  • Credited Service means the member's total period of service

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • Severance from Service Date means the earlier of:

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

  • Service Period has the meaning given to it in Framework Schedule 4 (Template Order Form and Template Call Off Terms) as refined by a Contracting Body in a Call Off Agreement between that Contracting Body and the Supplier;

  • Covered Termination means the termination of Executive’s employment by the Company without Cause or by Executive for Good Reason, and shall not include a termination due to Executive’s death or disability.

  • Ongoing employee means an employee who has been employed for at least one complete standard measurement period.

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • Accrued Amounts means:

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • Accrued Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated on a monthly basis.

  • Annual Compensation means an amount equal to the greater of:

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Accrued Rights shall have the meaning set forth in Section 4(a)(iv).

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.