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 eligibility rules: School entry into the program follows a three-step process.
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 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.
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).
Additional monthly amount per year of service in excess of 20 years (b) Following initial 30-month period, is the greater of (i) and (ii) (i) Initial benefit reduced by the portion of the initial benefit equal to estimated annual residual earning capacity divided by annual base earnings (ii) Initial benefit multiplied by percentage of disability (c) Upon attaining eligibility for normal retirement, the member’s vested retirement benefit becomes payable if the disability benefit has been reduced 7.
Initial benefit payment elections and subsequent changes will be effective only if made on forms provided or in the manner prescribed by the Provider and received by the date determined by the Provider.