Benefit Base Reset Sample Clauses

Benefit Base Reset. The Benefit Base is reset on any Contract Anniversary where the Contract Value is greater than the Benefit Base. The Benefit Base will increase to the Contract Value, but will not exceed the Benefit Base Maximum. The Benefit Base will continue to be eligible for an increase due to a Benefit Base Reset on each Contract Anniversary until a Benefit Base Reset is declined as described in the Annual Rider Charge section.
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Benefit Base Reset. On each Contract Anniversary the Benefit Base will be increased to the Contract Value if the Contract Value is greater than the Benefit Base. The annual rider charge may increase at the time of a Benefit Base Reset as described under the Annual Rider Charge section. Guaranteed Annual Income (GAI) – Before Contract Value Reaches Zero Beginning at the Benefit Date, you may withdraw an amount up to the GAI each Contract Year until the rider terminates as described under the Rider Termination section. The amount received will be in the form of a withdrawal of Contract Value, if available, or in the form of Annuity Payments if your Contract Value reaches zero. Prior to the first withdrawal, the GAI will be equal to (a) multiplied by (b), where:
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Benefit Base Reset. On each Contract Anniversary the Benefit Base will be increased to the Contract Value if the Contract Value is greater than the Benefit Base. The annual rider charge may increase at the time of a Benefit Base Reset as described under the Annual Rider Charge section. Guaranteed Annual Income (GAI) – Before Contract Value Reaches Zero Beginning at the Benefit Date, you may withdraw an amount up to the GAI each Contract Year until the rider terminates as described under the Rider Termination section. The amount received will be in the form of a withdrawal of Contract Value, if available, or in the form of Annuity Payments if your Contract Value reaches zero. A123456 ICC20-70594 Minnesota Life 3 Prior to the first withdrawal, the GAI will be equal to (a) multiplied by (b), where:
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Benefit Base Reset. On each Contract Anniversary, immediately following application of any applicable Benefit Base Enhancement, the Benefit Base will be increased to the Contract Value if the Contract Value is greater than the Benefit Base. The Enhancement Base and Enhancement Period will not be affected by a Benefit Base Reset. The annual rider charge may increase at the time of a Benefit Base Reset as described under the Annual Rider Charge section. Guaranteed Annual Income (GAI) Beginning at the Benefit Date, you may withdraw an amount up to the GAI each Contract Year until the rider terminates as described under the Rider Termination section. The amount received will be in the form of a withdrawal of Contract Value, if available, or in the form of Annuity Payments if your Contract Value reaches zero. Prior to the first withdrawal, the GAI will be equal to (a) multiplied by (b), where:
Sample 1

Related to Benefit Base Reset

  • Death Benefit Amount The Death Benefit Amount as of any Business Day prior to the Annuity Date is equal to the greater of:

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • VALUE OF PARTICIPANT'S ACCRUED BENEFIT If a distribution (other than a distribution from a segregated Account) occurs more than 90 days after the most recent valuation date, the distribution will include interest at: (Choose (a), (b) or (c))

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Account Value The term “Account Value” is defined as the policy value determined in accordance with the terms of the Annuities.

  • Annual Adjustment At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

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