Theoretical Contribution definition

Theoretical Contribution means the contribution that would be made on behalf of the Participant, using the individual level premium funding method from the age at which participation commenced to Normal Retirement Age, to fund the Participant's entire retirement benefit without regard to pre-retirement ancillary benefits. The entire retirement benefit for this purpose is based upon a single life annuity and assumes continuation of current salary (no salary scale).
View Source
Theoretical Contribution means, for any year during which the Agreement is in effect, is a contribution assumed to be made by the Bank and determined by using the individual level premium funding method, from the age at which the Executive was first covered by the Agreement until the Executive attains age sixty-five (65), to fund the Executive's entire anticipated benefit under the Agreement, assuming the Executive remains employed by the Bank during that period. The calculation of the Theoretical Contribution as of any date applies from the effective date of the Agreement until the Executive attains age sixty-five (65) years, based on the benefit due under Paragraph 1.1 of the Agreement, determined using the Executive's base salary as of that date.
View Source
Theoretical Contribution means the contribution that would be made on behalf of the Participant, using the individual level premium funding method from the age at which participation commenced to Normal Retirement Age, to fund the Participant's entire
View Source

Examples of Theoretical Contribution in a sentence

  • In the case of a combination of contracts, one-half (1/2) the premium paid for any Plan Year for ordinary life insurance contracts plus the premium paid for the Plan Year for term insurance contracts shall not exceed thirty-three percent (33%) of the Theoretical Contribution.

  • For purposes of this requirement, the face amount of the insurance policies will be that purchasable by (fill in the amount but not greater than 66% if whole life and not greater than 33% if term and/or universal life) percent of the Theoretical Contribution.

  • In no event shall the premium paid for any Plan Year for any Participant exceed sixty-six percent (66%) of the Theoretical Contribution in the case of ordinary life insurance contracts or thirty-three percent (33%) of the Theoretical Contribution in the case of term life insurance contracts.

  • The -------------------------------------------- Theoretical Contribution for any Plan Year is the contribution which the Advisory Committee would compute using the individual level premium funding method from the age at which a Participant commenced participation in the Plan to Normal Retirement Age to fund the Participant's entire anticipated normal retirement pension, including any minimum benefit guaranteed under Article XVIII, without regard to preretirement ancillary benefits.

  • The Theoretical Reserve is the amount the Advisory Committee would have available in a reserve fund if for each Year of Participation until the Participant's death the Employer made the Theoretical Contribution to the reserve fund.


More Definitions of Theoretical Contribution

Theoretical Contribution means the contribution that would be made on behalf of the Participant, using the actuarial assumptions stated in Paragraph 2.3(b) and the individual level premium funding method from the age at which participation commenced to Normal Retirement Age, to fund the Participant's entire retirement benefit without regard to preretirement ancillary benefits.
View Source