Initial benefit definition

Initial benefit means the retirement allowance as calculated to be effective on the date of the member's retirement. It takes into account any reductions based on options selected by the member under Section 4.36.260. It shall also mean payments of accumulated contributions made under Subsection 4.36.270 B, and payments received by a beneficiary as a result of an option selected under Section 4.36.260.
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Initial benefit. Means the first monthly retirement benefit payable to a retiree or beneficiary in accordance with the laws governing the determination of such benefit at time of retirement or death.
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Initial benefit means the first monthly benefit to a retiree or beneficiaryBeneficiary in accordance
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Examples of Initial benefit in a sentence

  • The computed year shall be calculated in the manner and subject to the restrictions provided in paragraph “a.”21.13(8) Initial benefit determination.

  • Initial benefit payment elections and subsequent changes will be effective only if made on forms provided or in the manner prescribed by the Plan Administrator and received by the date determined by the Plan Administrator.

  • In addition, the average five-year salary is restricted to an antispiking limit of 134 percent of the highest sixth year of wages.[ARC 8601B, IAB 3/10/10, effective 4/14/10; ARC 0017C, IAB 2/22/12, effective 3/28/12; ARC 1348C, IAB 2/19/14, effective3/26/14; ARC 1887C, IAB 2/18/15, effective 3/25/15; ARC 5027C, IAB 4/8/20, effective 5/13/20] 495—12.2(97B) Initial benefit determination.

  • Initial benefit payments and increases in original benefits are paid by the Plan and the continuance of such benefits is subject, of course, to the continuance of the Plan and the adequacy of Pension Plan assets.

  • The computed year shall becalculated in the manner and subject to the restrictions provided in paragraph “a.”21.13(8) Initial benefit determination.

  • Initial benefit eligibility rules: School entry into the program follows a three-step process.

  • Initial benefit will be derived from the immediate creation of jobs and income from the construction of the Project (see “Interim construction benefits” below).

  • However, the control year cannot be the computed year, as the computed year will never be a calendar year with service credit for wages in all four quarters.[ ARC 8601B, IAB 3/10/10, effective 4/14/10] 495—12.2(97B) Initial benefit determination.12.2(1) The initial monthly benefit for the retired member will be calculated utilizing the wages that have been reported as of the member’s retirement and subject to the requirements of subrule 12.1(7).

  • Initial benefit payment" has the same meaning as in rule 145-1-65 of the Administrative Code.

  • Initial benefit calculations indicate that there are small benefits in estimated fuel and level-off savings.


More Definitions of Initial benefit

Initial benefit means the amount of savings the Company or the Sublessee received through the Agency, in the form of exemptions from sales tax.
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Related to Initial benefit

  • Special benefit means a particular and distinct benefit over and above general benefits conferred on real property located in the district or to the public at large. General enhancement of property value does not constitute “special benefit.”

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • 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).

  • material benefit means a benefit which may not be financial but has a monetary value;

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

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

  • Additional Benefits means those benefits in addition to the rights and remedies available under the Australian Consumer Law.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

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

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

  • 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.

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

  • 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.

  • 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.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

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

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1 of the Agreement.

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

  • Contribution Period means a period in respect of which contributions appropriate to the benefit in question are payable, have been paid or treated as paid under the legislation in question;

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

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Change in Control Benefits means the following benefits:

  • Planning Period Balance means the entire period of time remaining in the Planning Period following the month that a monthly auction is conducted.