Death Benefit Earnings definition

Death Benefit Earnings means the total amount of a Participant’s Compensation for the last full Fiscal Year, as determined on or prior to the date of the Participant’s death.
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Examples of Death Benefit Earnings in a sentence

  • If the oldest Owner, or the Annuitant if the Owner is a non-living person, is between the ages of 66 and 75 on the Rider Date, the Enhanced Earnings Death Benefit will be: o 20% of the lesser of 200% of In-Force Premium (excluding purchase payments made in the twelve month period immediately preceding the death of the Owner) or Death Benefit Earnings, calculated as of the date we receive due proof of death.

  • If the oldest Owner, or the Annuitant if the Owner is a non-living person, is between the ages of 56 and 65 on the Rider Date, the Enhanced Earnings Death Benefit will be: o 30% of the lesser of 200% of In-Force Premium (excluding purchase payments made in the twelve month period immediately preceding the death of the Owner) or Death Benefit Earnings, calculated as of the date we receive due proof of death.

  • Under this rider, if the oldest Owner, or the Annuitant if the Owner is a non-living person, is age 55 or younger on the Rider Date, the Enhanced Earnings Death Benefit will be: o 40% of the lesser of 200% of In-Force Premium (excluding purchase payments made in the twelve month period immediately preceding the death of the Owner) or Death Benefit Earnings, calculated as of the date we receive due proof of death.

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  • Ms. Evans, Vice Chair, shared that Wrap Around and Census presentations are still being finalized.

  • Death Benefit Earnings shall mean the total of Church’s base pay and cash incentive compensation for the full Avnet fiscal year ending on the day of or preceding Church’s death.

  • For example, the Death Benefit Earnings used to calculate the death benefit should Church die during (but before the last day of) Avnet’s fiscal year ending in 2005 (July 4, 2004 — July 2, 2005) is the total of his base pay and cash incentive earned (accrued not paid) during Avnet’s fiscal year ending on July 3, 2004.

  • However, the Member shall not be entitled under Rule D4 to a refund of the contributions he would have made had he not been a Reduced Salary Member.B5.2 The "Reference Earnings", the "Reference Death Benefit Earnings", and the "Reference Pay" of a Reduced Salary Member are, respectively, the Earnings, the Death Benefit Earnings, and the Pay which the Employer reasonably determines the Reduced Salary Member would have had if he had not been a Reduced Salary Member.

  • It will also set out which elements of the pension will be increased and by what indexation method once in payment.Did you know?Core life cover is provided at no cost to youYou can normally increase your level of life cover in steps of 1 x Death Benefit Earnings at each flexible benefits enrolment window.

  • The death benefit will be based upon the Church’s Death Benefit Earnings (as defined herein).

Related to Death Benefit Earnings

  • 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.

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

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

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

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

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

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

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

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

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Weekly Earnings means, in the case of a day or shift worker, 40 hours x his regular rate;

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

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

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • 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).

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

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

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

  • 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.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

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

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • 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.

  • 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.