Earnings Credit definition

Earnings Credit means for any given day during a calendar year the product of (a) the Federal Funds Rate for such date minus .25%, and (b) 82% of the Available Balance.

Earnings Credit has the meaning set forth in Section 3.1(b).

Earnings Credit means the gains and losses credited on the balance of an Account based on the choice made by the Participant (or Beneficiary after the death of the Participant) among the investment options made available under the Plan.

Examples of Earnings Credit in a sentence

• The Fund shall receive a credit for each calendar month against such compensation and fees of the Custodian as may be payable by the Fund in an amount equal to the aggregate of its Earnings Credit for such calendar month.

• If an investment option has a loss, the Earnings Credit attributable to such investment option will serve to reduce the Account; similarly, if an investment option has a gain, the Earnings Credit attributable to such investment option will serve to increase the Account.

• In the event that Bank, in its sole discretion, provides an Earnings Credit Rate program to Customer, and the application of the Earnings Credit Rate program results in a positive number or Earnings Credit, the Earnings Credit may be used to offset fees accrued in Customer’s account during the billing period, up to the amount of the Earnings Credit.

• On a quarterly basis, or more frequently as mutually agreed by the parties, the Company will compute the investment earnings credit on a VSA (the “VSA Earnings Credit”), as determined in accordance with Schedule 3.3. The VSA Earnings Credit, whether positive or negative, reflects the change in value of the Variable Separate Account Assets, net of cash flows between a VSA and the General Account, and shall be included as part of the calculation of the periodic payment as provided for in Section 5.2.

• Unless we agree otherwise in writing, excess Earnings Credit is not carried forward or backward to other billing periods.

More Definitions of Earnings Credit

Earnings Credit means the amount credited to a Participant’s Account under Section 6(B).

Earnings Credit means, with respect to an Account, the amount credited to the Account pursuant to Section 5.05.

Earnings Credit means the gains credited on the balance of an Account in accordance with Section 4.3.

Earnings Credit means the gains credited on the balance of an Account pursuant to Section 4.3.

Earnings Credit means, with respect to a Plan Year Balance, the amount credited to the Plan Year Balance pursuant to Section 5.05.

Earnings Credit means the amount (including a negative amount) which shall be credited to the account maintained for a Participant or Beneficiary under Section 3.5.

Earnings Credit means the amount which shall be credited each Plan Year to the account maintained for a Participant or Beneficiary by calculating interest at a rate to be determined by the Committee. As determined by the Committee, the interest rate for the Plan effective May 1, 2012 shall be 120% of the federal long-term interest rate under Section 1274(d) of the Code. Such rate shall remain in effect until the Company determines that the record keeper engaged to assist the Company with the administration of the Plan is equipped to credit earnings based on the Participants’ deemed investments, as provided in Section 3.6, after which, the ‘Earnings Credit’ shall mean the amount (including a negative amount) credited to the account maintained for a Participant or Beneficiary under Section 3.6.”