Annual Benefit Amount definition

Annual Benefit Amount means the amount of a Participant’s Annual Benefit, which, subject to the other provisions of this Plan, shall be a dollar amount equal to 10% of the excess (if any) of (a) the Participant’s Compensation, over (b) the maximum dollar amount of annual compensation that can be taken into account for purposes of determining a
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Annual Benefit Amount means a gross amount equal to the product of the Participant’s Final Average Compensation multiplied by the Participant’s Benefit Percentage.
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Annual Benefit Amount means an annual amount calculated on the basis of the following formula: [(a x b%) – (c + d)] (a) represents the Executive’s Final Average Pay; (b) represents the proportion, expressed as a percentage, of the number of years and months of service the Executive provided to the Bank divided by forty (40) years (not to exceed one hundred percent (100%)); (c) represents the Qualified Retirement Plan Offset; and (d) represents the Social Security Offset.
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Examples of Annual Benefit Amount in a sentence

  • The District shall estimate the Annual Benefit Amount to be provided for the Health Benefit for the Plan Year prior to September 1 of each Plan Year.

  • If cumulative withdrawals in any Rider Year are less than or equal to the Annual Benefit Amount then in effect, the Benefit Base will not be reduced.

  • If a withdrawal causes the cumulative withdrawals in any Rider Year to exceed the Annual Benefit Amount, the amount withdrawn in excess of the Annual Benefit Amount and any subsequent withdrawals in that Rider Year are all considered excess withdrawals.

  • Each non-lifetime excess withdrawal will reduce the Non-Lifetime Annual Benefit Amount in the same proportion as the Contract Value is reduced.

  • The Annual Benefit Percentage is used to determine the Annual Benefit Amount.


More Definitions of Annual Benefit Amount

Annual Benefit Amount means an amount based on the Participant’s attained age when the Participant’s employment with the Company terminates:
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Annual Benefit Amount means the dollar amount, determined by the Committee and set forth in the Participant’s Participation Agreement, that is to be used for purposes of calculating the Participant’s benefit opportunity under this Plan.
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Annual Benefit Amount means the dollar amount, determined by the Committee and set forth in the Participant's Participation Agreement, that is to be used for purposes of calculating the Participant's benefit opportunity under this Plan.
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Annual Benefit Amount means $10,000.
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Annual Benefit Amount means an amount determined from the following table based on the date of termination of the Participant's employment with the Company:
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Annual Benefit Amount means a fixed dollar amount set forth as to each Participant in a Participation Agreement between the Bank and the Participant.
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Annual Benefit Amount means the amount as defined in Section 4.01 of this Plan.
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