Projected benefits definition

Projected benefits means the amount of Benefits projected in accordance with the rules set forth in Article 12.

Projected benefits means benefit amounts which are expected to be paid at various future times under a particular set of actuarial assumptions, taking into account, as applicable, the effect of advancement in age and past and anticipated future compensation and service credits.

Projected benefits means benefit amounts under a plan

Examples of Projected benefits in a sentence

• Present Value of Projected Benefits (PVB)This measure of funded status is an assessment of the need for future employer contributions based on the selected actuarial cost method used to fund the plan.

• Projected Benefits: Pension benefit amounts which are expected to be paid in the future taking into account such items as the effect of advancement in age as well as past and anticipated future compensation and service credits.

• A method under which the Actuarial Present Value of the Projected Benefits of each individual included in an Actuarial Valuation is allocated on a level basis over the earnings of the individual between entry age and assumed exit ages.

• Actuarial Present Value of Total Projected Benefits (APV) – The actuarial present value of the cost to finance, as of a specified date, all future benefit costs or a series of benefit costs, with each amount adjusted to reflect (a) the time value of money (through discounts for interest) and (b) the probability of payment (for example, by means of decrements for events such as death, disability, withdrawal or retirement) between the specified date and the expected date of payment.

• Actuarial Present Value of Total Projected Benefits or Present Value of Benefits (PVB)Total projected benefits include all benefits estimated to be payable to plan members (retirees and beneficiaries, terminated employees entitled to benefits but not yet receiving them, and current active members) as a result of their service through the valuation date and their expected future service.

• It may be that further columns are required to ensure that the Illustrative Table of Projected Benefits and Charges is fair, clear and not misleading.

• The five columns of the Illustrative Table of Projected Benefits and Charges must be disclosed in all circumstances other than in the case of a contract providing no protection benefits, where it is permissible not to include Column D of the Illustrative Table of Projected Benefits and Charges.

• Column C of the Illustrative Table of Projected Benefits and Charges shows the “projected expenses and charges to date”.

• Where Illustrative Tables of Projected Benefits and Charges are prepared on a generic basis, the guiding principle that policyholders be provided with illustrations of projected benefits, expenses and charges which are fair, clear and not misleading also applies.

• However, if it is projected that the contract can be maintained beyond age 100, the final row of the Illustrative Table of Projected Benefits and Charges need not be shown.

More Definitions of Projected benefits

Projected benefits means the projected amounts to be paid or accrued by the NBA or the Teams, other than Expansion Teams during their first two Seasons, for the upcoming Season with respect to the benefits to be provided for such Season. In the event that the amount of any benefit for the upcoming Season is not reasonably calculable, then, for purposes of computing Projected Benefits, such amount shall be projected to be 108% of the amount attributable to the same benefit for the prior Season.

Projected benefits means the amount of Benefits projected in accordance with the rules set forth in Article XXIV (Guaranteed League- wide Salary, Salary Cap & Minimum Team Salary).

Projected benefits in League Year 2001 shall be a league-wide dollar amount of $2,719,452, which was incurred by the Teams in League Year 2001. In League Years 2002, 2003, 2004, 2005, and 2006, Projected Benefits shall be projected by the jointly-retained accountants, based upon the amount of Player Benefits actually paid during the prior League Year (or contributed in the case of pension or other such deferred payment benefits) and any expected changes in such benefits agreed upon by the parties, or such other amount that the parties agree is a reasonable projection of such Player Benefits. The amount of Player Benefits shall increase at least six percent (6%) each League Year, or by such other amount as the parties so agree.

Projected benefits means the projected amounts, as estimated by the NBA in good faith, to be paid or accrued by the NBA or the Teams, other than Expansion Teams during their first two Salary Cap Years, for the upcoming Salary Cap Year with respect to the benefits to be provided for such Salary Cap Year. In the event that the amount of any benefit for the upcoming Salary Cap Year is not reasonably calculable, then, for purposes of computing Projected Benefits, such amount shall be projected to be 104.5% of the amount attributable to the same benefit for the prior Salary Cap Year.