Age Factor definition
Examples of Age Factor in a sentence
Age Factor ------------------------------------------ 40 2.50 58 1.38 41 2.43 59 1.34 42 2.36 60 1.30 43 2.29 61 1.28 44 2.22 62 1.26 45 2.15 63 1.24 46 2.09 64 1.22 47 2.03 65 1.20 48 1.97 66 1.19 49 1.91 67 1.18 50 1.85 68 1.17 51 1.78 69 1.16 52 1.71 70 1.15 53 1.64 71 1.13 54 1.57 72 1.11 55 1.50 73 1.09 56 1.46 74 1.07 57 1.42 75 1.05 The Death Benefit Factor for all Attained Ages below 40 is 2.50.
The Age Factor is derived from Schedule 1 based on the following interest rate: o(i)7.50% o(ii)8.00% o(iii)8.50% Thus, the allocation of the Employer Base Contribution to a Participant’s Employer Active Account shall equal the total Employer Base Contribution multiplied by a fraction the numerator of which is the eligible Participant’s allocation factor and the denominator of which is the sum of the Allocation Factors of all eligible Participants.
Age Factor ----------------------------------------------- 40 2.50 58 1.38 41 2.43 59 1.34 42 2.36 60 1.30 43 2.29 61 1.28 44 2.22 62 1.26 45 2.15 63 1.24 46 2.09 64 1.22 47 2.03 65 1.20 48 1.97 66 1.19 49 1.91 67 1.18 50 1.85 68 1.17 51 1.78 69 1.16 52 1.71 70 1.15 53 1.64 71 1.13 54 1.57 72 1.11 55 1.50 73 1.09 56 1.46 74 1.07 57 1.42 75 1.05 The Death Benefit Factor for all Attained Ages below 40 is 2.50.
The Age Factor is derived from Schedule I based on the following interest rate: o 7.50% o 8.00% o 8.50% Thus, the allocation of the Employer Base Contribution to a Participant’s Employer Active Account shall equal the total Employer Base Contribution multiplied by a fraction the numerator of which is the Covered Participant’s allocation factor and the denominator of which is the sum of the Allocation Factors of all Covered Participants.
The Allocation Factor shall be equal to the product of the Participant’s Age Factor and the Covered Participant’s Compensation.
Age Factor -------------------------------------------------------- 40 2.50 58 1.38 41 2.43 59 1.34 42 2.36 60 1.30 43 2.29 61 1.28 44 2.22 62 1.26 45 2.15 63 1.24 46 2.09 64 1.22 47 2.03 65 1.20 48 1.97 66 1.19 49 1.91 67 1.18 50 1.85 68 1.17 51 1.78 69 1.16 52 1.71 70 1.15 53 1.64 71 1.13 54 1.57 72 1.11 55 1.50 73 1.09 56 1.46 74 1.07 57 1.42 75 1.05 The Death Benefit Factor for all Attained Ages below 40 is 2.50.
The Allocation Factor shall be equal to the product of the Participant’s Age Factor and the eligible Participant’s Compensation.