Excess benefit participant definition

Excess benefit participant means any retired member whose retirement benefits as determined on the basis of all qualified plans without regard to the limitations of Section 25(b) of this article and comparable provisions of other qualified plans would exceed the maximum benefit permitted under Section 415 of the code.
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Excess benefit participant means any member whose retirement benefit, as determined on the basis of all qualified plans without regard to the limitations of R.S. 11:1458 and comparable provisions of other qualified plans of the employer, would exceed the maximum benefit permitted under Section 415 of the Internal Revenue Code.
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Excess benefit participant means an Employee who has satisfied the eligibility requirements of Section II, as indicated pursuant to an action taken by the Committee, and is eligible for benefits in accordance with Section IV.
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Examples of Excess benefit participant in a sentence

  • Excess benefit participant shall mean any retiree or beneficiary whose benefits would otherwise be payable pursuant to Chapter 104, RSMo. as if there were no limitations under Section 104.010.2, RSMo. nor under Section 415 of the Internal Revenue Code.

  • In this article: (1) "Excess benefit participant" means any member whose retirement benefits as determined on the basis of all qualified plans, without regard to the limitations of Section 5.10(a) of this Act and comparable provisions of other qualified plans, would exceed the maximum benefit under Section 415 of the code.

  • It also identifies ten similarities between trust and faith in context with the committed actions and behaviors of the individuals who exercise that trust or faith.


More Definitions of Excess benefit participant

Excess benefit participant means any retiree whose retirement benefits, as determined on the basis of all qualified plans without regard to the limitations provided by Section 23 of this Act and comparable provisions of other qualified plans, would exceed the maximum benefit permitted under Section 415, Internal Revenue Code of 1986, as amended.
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Excess benefit participant means any member whose retirement benefit is determined on the basis of all qualified plans maintained by the city without regard to the limitations set forth in the pension plan and comparable provisions of other qualified plans of the city, that exceed the maximum benefit under section 415 of the Internal Revenue Code.
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Excess benefit participant means any member 72-39 whose retirement benefits as determined on the basis of all 72-40 qualified plans without regard to the limitations of Section 8.01 72-41 of this article and comparable provisions of other qualified plans 72-42 would exceed the maximum benefit permitted under Section 415 of the 72-43 code.
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Excess benefit participant means an Employee who has satisfied the eligibility requirements of Section II, as indicated on Schedule B attached hereto and as updated from time to time, and is eligible for benefits in accordance with Section IV.
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Related to Excess benefit participant

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

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

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

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

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Active Participant means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, or Normal Retirement.

  • Qualified Participant means any Participant or Former Participant who has completed ten (10) Years of Service as a Participant and has attained age 55.

  • 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.

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

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Current Participant means a Class Member who has an Active Account in one or both the Plans as of August 5, 2020.

  • 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;

  • Eligible employer means any municipality with a municipal

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Salaried Employee means an employee who is not covered by the Fair Labor Standards Act who regularly receives each pay period a predetermined amount constituting all or part of compensation. This base salary cannot be reduced because of variations in the quality or quantity of work performed.

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

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

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

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

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

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.