Primary insurance amount definition

Primary insurance amount means the monthly retirement benefit payable under the federal system at the age at which full retirement benefits are available under the federal system. This age is deemed to be age 65 until June 30, 1983.

Primary insurance amount means the monthly retirement benefit payable under the federal system at the age of 65.

Primary insurance amount as of any date shall mean the monthly amount of Social Security old age and survivor disability insurance benefits received or receivable by a Participant commencing at the Participant’s unreduced Social Security retirement age. The amount will be calculated based on the Social Security Act in effect as of the date of calculation, without regard to any dependent benefits.

Examples of Primary insurance amount in a sentence

• The insured’s own old-age benefit amount consists of two components: • Primary insurance amount: 60% of the insured’s adjusted value of average indexed annual earnings based on their best “computational years” of earnings.

• For disabled worker beneficiaries, the AIME is computed by using an individual’s indexed earnings between the age of 22 and the year of onset of his or her disability.◼ Primary insurance amount factors.

• Any entity which has received the European Solidarity Corps quality label shall be given access to the European Solidarity Corps Portal and shall be allowed to make offers for solidarity activities to registered individuals.

• Thus, a worker’s nominal earnings for the appropriate working years are converted to near-current wage levels on theciaries, the AIME is computed by using an individual’s indexed earnings between the age of 22 and the year of onset of his or her disability. Primary insurance amount factors.

• The Federal Circuit is a progressive court that attempts to apply progressive takings clause doctrine.

More Definitions of Primary insurance amount

Primary insurance amount means the monthly retirement benefit payable under

Primary insurance amount means the monthly primary social security benefit to which the Executive will be entitled at age 65, determined in accordance with Exhibit B which is attached to and forms a part of this Plan.

Primary insurance amount means the monthly amount of a Participant’s “old-age insurance benefit”, as defined in Section 402 of the federal Social Security Act in effect on the date of the Participant’s Separation from Service, payable on the later of the Participant’s Normal Retirement Date or Separation from Service, whether or not the Participant actually applies for and receives such amount for any month. The Primary Insurance Amount shall be determined by assuming that the Participant will receive Compensation in the amount applicable during the Plan Year in which such Separation from Service occurs over a further period of employment, if any, extending to his or her Normal Retirement Date. The Primary Insurance Amount shall be determined on the

Primary insurance amount means the monthly amount of old age insurance benefits under Section 202 of the Social Security Act payable to a Member at a single age that is not earlier than age 62 and not later than age 65. A Member's Primary Insurance Amount shall be determined under the Social Security Act as in effect at the time the Member's offset is determined, based on the Member's then-current compensation and other relevant factors.

Primary insurance amount means the amount payable to a person at sixty-two (62) under the social security law. (Priv. Acts 1967, Ch. 169, § 5; Ord. No. 8688, § 1(3), 8-19-86)Editor’s Note-This definition is utilized in calculations for social security offset in Section 2-308 hereof for employees hired or vested prior to 8/19/86 pursuant to Ord. No. 8688.

Primary insurance amount means an amount that is determined from the average monthly earnings creditable to the insured person. This term and the manner in which it is computed are explained in Subpart C.

Primary insurance amount means the old-age insurance benefit under Section 202 of the Social Security Act payable to each Employee at a single age that is not earlier than age 62 and not later than age 65. Primary Insurance Amount must be determined under the Social Security Act as in effect at the time the Employee's offset is determined. Thus, it is determined without assuming any future increases in compensation, any future increases in the Taxable Wage Base, any changes in the formulas used under the Social Security Act to determine Primary Insurance Amount, or any future increases in the consumer price index. However, it may be assumed that the Employee will continue to receive compensation at the same rate as that received at the time the offset is being determined, until reaching the single age described in the first sentence above. Primary Insurance Amount must be determined in a consistent manner for all Employees.