Cash Balance Benefit definition

Cash Balance Benefit means the benefit accrued under the Cash Balance portion of the Salaried Retirement Plan. The American Axle & Manufacturing, Inc. and Affiliated Corporation Salaried Cash Balance Pension Plan was merged into the Salaried Retirement Plan on December 31, 2011.
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Cash Balance Benefit means the lump sum amount determined under Article IV.
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Cash Balance Benefit means that part of the Member’s Accrued Benefit which accrues in accordance with the provisions of section 5.1(b).
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Examples of Cash Balance Benefit in a sentence

  • The board shall award an additional earnings credit as a plan amendment to the Defined Benefit Supplement Program and the Cash Balance Benefit Program, as applicable, pursuant to a resolution adopted by the board no later than June 30 of the plan year for which the credit is being awarded.

  • Part-time educators hired under a contract of less than 50 percent or on an hourly or daily basis without contract may elect membership in the Cash Balance Benefit Program (CB Benefit Program).

  • For purposes of determining whether additional credits are awarded prior to the adoption of the Experience Study in 2016, one standard deviation of the assumed annual rate of investment return for the Defined Benefit Supplement Program shall be 13.9 percent, and for the Cash Balance Benefit Program, the standard deviation shall be 13.2 percent.

  • The employee’s creditable service is subject to coverage by the Cash Balance Benefit Program pursuant to Education Code §26400 (see Section 2.c. Required Participation in the Cash Balance Benefit Program).

  • One person who, at the time of election, is an active member of the Defined Benefit Program or an active participant of the Cash Balance Benefit Program employed by a school district that provides instruction for grades K to 12, inclusive, or a county office or education.

  • One person who, at the time of election, is an active member of the Defined Benefit Program or an active participant of the Cash Balance Benefit Program employed by a school district that provides instruction for grades K to 12, inclusive, or a county office of education, in a position other than a school administrator that requires a services credential with a specialization in administrative services.

  • To add clarity to reporting on national policies in additional background information it may, however, be helpful if States indicated on the reporting form either "no change" or changes, if applicable.

  • One person who, at the time of election, is a community college instructor and an active member of the Defined Benefit Program or an active participant of the Cash Balance Benefit Program employed by a community college district, who shall be elected by the active community college members of the Defined Benefit Program and the active community college participants of the Cash Balance Benefit Program, pursuant to regulations adopted by the board, for a four-year term commencing on January 1, 2004.

  • Cash Balance Benefit – Upon attainment of age 55, regardless of service, the retirement allowance will be equal to the accumulated employee and employer cash balance accounts, including interest credits, annuitized for payment in the normal form.

  • Cash Balance Benefit – Upon attainment of age 55, regardless of service, the retirement allowance shall be equal to the accumulated employee and employer cash balance accounts, including interest credits, annuitized for payment in the normal form.


More Definitions of Cash Balance Benefit

Cash Balance Benefit means the Total Benefit determined under the cash balance benefit formula, as set forth in Section 3.5.
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Cash Balance Benefit means, for a Participant who has not reached Normal Retirement Age, the Participant’s benefit as of any valuation date on or prior to the Participant’s Normal Retirement Date equal to a single life annuity which is the projected value of such Participant’s Account as of such valuation date divided by eleven (11). For purposes of this definition, “projected value” is determined using the Plan’s current interest crediting rate and projecting to Normal Retirement Date. Notwithstanding the foregoing, for a Participant who has reached Normal Retirement Age, “Cash Balance Benefit” shall mean the Participant’s benefit as of any valuation date equal to a single life annuity which is equal to such Participant’s Account as of such valuation date divided by eleven (11).
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Cash Balance Benefit means the benefit accrual formula in Schedule IV of the Qualified Plan.
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Cash Balance Benefit means the benefit provided based on the Participant's Retirement Account.
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Cash Balance Benefit means a benefit calculated by reference to an amount available for the provision of benefits to or in respect of the member (“the available amount”) where there is a promise about that amount. But a benefit is not a “cash balance benefit” if, under the scheme—
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Cash Balance Benefit means the single monthly life annuity benefit computed as of the date of determination that is (i) the Actuarial Equivalent of the Participant's Account as of his or her Normal Retirement Date (including all Contribution Credits allocated to such Account as of the date of determination and Investment Credits projected to such Normal Retirement Date), and (ii) payable at the Participant's Normal Retirement Date. Annuities shall be calculated by dividing the Participant's Account balance by the appropriate annuity factor from Table 1 set forth on the attached Appendix A.
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Related to Cash Balance Benefit

  • Cash Balance means, at any date of determination, the unencumbered and otherwise unrestricted cash and Cash Equivalents of the NCLC Group.

  • 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.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Termination Benefit means the benefit set forth in Article 7.

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

  • Retirement Benefit means the benefit set forth in Article 5.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Service benefit means the credit toward retirement benefits as determined by the

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Actuarial equivalent means a benefit of equal value when

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Benefit Amount shall have the meaning set forth in Section 20.12 hereof.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Change in Control Benefit means the benefit described in Section 2.4.