Maximum Annual Benefit definition

Maximum Annual Benefit. Shall be defined as those benefits payable under this Agreement that have annual maximum limits for each Covered Person as shown in Exhibit .
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Maximum Annual Benefit means a maximum annual benefit amount of $36,000 per year for autism support program services for an eligible individual. For the purposes of this program, the annual benefit is calculated by using as a starting date the date the first service is reimbursed by the program and an ending date 12 months from the starting date. Expenditures included in the calculation of the maximum annual benefit include reimbursements to autism service providers for provision of applied behavioral analysis and reimbursements to integrated health homes for costs of care coordination. Cost-sharing paid by the eligible individual is not included in the calculation of the individual’s annual benefit.
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Maximum Annual Benefit means an amount calculated by subtracting from the Retirement Factor: (i) the annual accrued benefit as of the Qualifying Event (based on a monthly single life annuity) payable at normal retirement age (as defined in the Pension Plan); (ii) one-half of Executive's Social Security Benefit as of the Qualifying Event; and (iii) the annual single life annuity payable at age 65 based on the Actuarial Equivalent of Executive's account under the Savings Plan as of the Qualifying Event solely attributable to matching contributions made by the Company. Notwithstanding anything in this Section 1 (m) to the contrary, the calculation of the Maximum Annual Benefit shall be based solely on full and consecutive years of employment with the Company or an Affiliate and shall cease to accrue and vest after an Executive's date of termination with the Company or an Affiliate.
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Examples of Maximum Annual Benefit in a sentence

  • A Certificate Year Maximum Annual Benefit may apply to each Insured.

  • The total Maximum Annual Benefit Amount of benefits has not been paid.Benefits with respect to expenses incurred in connection with the injury or illness causing such disability will be continued during such total disability until either:1.

  • We will pay benefits equal to 100% of any deductible, coinsurance, and copays for which You are responsible under Your Primary Medical Policy, up to the Maximum Annual Benefit each calendar year, for You or a Family Member’s Inpatient Hospital Stays covered under the Primary Medical Policy.

  • We will pay benefits equal to 100% of any deductible, coinsurance, and copays for which you are responsible under Your Primary Medical Policy, up to the Maximum Annual Benefit each calendar year, for You or a Family Member’s Inpatient Hospital Stays covered under the Primary Medical Policy.

  • BENEFIT SCHEDULE Maximum Annual Benefit $ [2,000.00] POLICY SCHEDULEINSUREDPOLICYNUMBEREFFECTIVEDATEINITIAL TERMEXPIRES ONINITIALPREMIUM[John Doe][12346789][08-01-07][09-01-07][$44.00] ADDITIONAL BENEFITS [Hospital Outpatient Benefit] The Policy Schedule includes premiums for Additional Benefits, if any.

  • Amount Payable Subject to the procedural requirements of Article VII, payable Qualifying Medical Expenses may not exceed the health care spending account premium payment benefit the Covered Employee elected to be credited to his or her Health Care Flexible Spending Account for the Plan Year, less any payments previously made during the Plan Year — up to the Maximum Annual Benefit.

  • If a Participant who is covered under this Plan and under any Related Plan (as defined in subparagraph (f)(ii) below) is entitled to an aggregate Projected Annual Benefit under said plans in a Plan Year which exceeds his Maximum Annual Benefit, the aggregate Projected Annual Benefit shall be reduced to the extent necessary so that it shall not exceed his Maximum Annual Benefit.

  • Coverage Type Coverage Description In-Network Out-of-Network Annual Deductible A Preventative 100% 100% N/A B Basic Restorative 100% 80% $50 Individual/$100 Family C Major Restorative 50% 50% $50 Individual/$100 Family D Orthodontia 50%* 50%* N/A Maximum Annual Benefit $1,250** $1,000** * Orthodontia has a lifetime maximum benefit of $1,000 for dependents age 19 and under.

  • For Respite Care Benefit, this Rider provides for a Maximum Annual Benefit equal to the percentage of the Maximum Monthly Benefit shown on the Policy Schedule.

  • ExampleAssumptions• Accumulated Value is $150,000• Death Benefit is $600,000• Cash Surrender Value is $100,000• Chronic Illness Factor is 47.63776%• Annual Per Diem Limitation is $177,937.50The Reduction Factor is 0.5239499 = [$100,000 + 0.4763776 x ($600,000 - $150,000)] ÷ $600,000The Maximum Annual Benefit Amount is $177,937.50 (the lesser of $177,937.50 and 0.5239499 x $600,000)End of ExampleIf you elect to receive monthly payments, we will pay up to the Maximum Monthly Benefit over a 12-month period.


More Definitions of Maximum Annual Benefit

Maximum Annual Benefit means an amount calculated by subtracting from $150,000, indexed annually by 4% beginning September 30, 1998: (i) the annual accrued benefit as of the Qualifying Event (based on a monthly single life annuity) payable at age 66; (ii) one-half of Executive's Social Security Benefit as of the Qualifying Event; and (iii) the annual single life annuity payable at age 66 based on the Actuarial Equivalent of Executive's account under the Savings Plan as of the Qualifying Event solely attributable to matching contributions made by the Company.
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Maximum Annual Benefit means the total Salary Reduction Contributions a Covered Employee authorizes to his or her Health Care Flexible Spending Account, according to the election procedures of Section 7.1, for Qualifying Medical Expense reimbursement, which amount must be not more than an amount communicated annually by the Plan Administrator, which amount shall not exceed maximum amount allowed under Section 125 of the Code. Plan Plan means the PAREXEL International Corporation Combination Limited Purpose Health Care Flexible Spending Account Plan as herein set forth and as amended from time to time.
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Maximum Annual Benefit means $150,000 per Plan Year for each Participant including all of the Participant’s Dependents combined.
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Maximum Annual Benefit means a maximum annual benefit amount of $36,000 per year for autism support program services for an eligible individual. For the purposes of this program, the annual benefit is calculated by using as a starting date the date the first service is reimbursed by the program and an
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Related to Maximum Annual Benefit

  • 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).

  • 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:

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Average Annual Compensation For the purposes of this Agreement, “Average Annual Compensation” shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Current Annual Compensation means the greater of:

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • 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.

  • Target Annual Bonus as of any date means the amount equal to the product of Base Salary determined as of such date multiplied by the percentage of such Base Salary to which Executive would have been entitled immediately prior to such date under any Bonus Plan for the Annual Performance Period for which the Annual Bonus is awarded if the performance goals established pursuant to such Bonus Plan were achieved at the 100% level as of the end of the Annual Performance Period.

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

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

  • 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.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Aggregate Targeted Balance With respect to any group of Targeted Principal Classes or Components and any Distribution Date, the amount set forth for such group for such Distribution Date in Schedule V hereto.

  • Benefit year means the period of twelve consecutive months, July 1 through June 30, as established by an employer in which an employee shall accrue and use earned sick leave as provided pursuant to N.J.S.A. 34:11D-2, provided that once the starting date of the benefit year is established by the employer it shall not be changed unless the employer notifies the Commissioner of Labor and Workforce Development of the change in accordance with regulations promulgated pursuant to the Act. The Commissioner shall impose a benefit year on any employer the Commissioner determines is changing the benefit year at times or in ways that prevent the accrual or use of earned sick leave by an employee.

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

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

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Annual Compensation means an amount equal to the greater of:

  • Base Period Income Base Period Income" is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Average Compensation means the average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the Change in Control is effected. Any W-2 wages for a partial year of employment will be annualized, in accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation.

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

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.