Defined Benefit Plan Fraction definition

Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit (determined as of the close of the relevant Plan Year) of the Participant under all Defined Benefit Plans maintained by one or more Related Companies, and the denominator of which is the lesser of (i) the product of 1.25 multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the Code for the Plan Year, or (ii) the product of 1.4 multiplied by the amount which may be taken into account under Section 415(b)(1)(B) of the Code with respect to the Participant for the Plan Year.

Defined Benefit Plan Fraction for a Limitation Year shall mean a fraction, (A) the numerator of which is the aggregate projected annual benefit (determined as of the last day of the Limitation Year) of the Participant under all defined benefit plans (whether or not terminated) maintained by the Employer, and (B) the denominator of which is the lesser of: (I) the product of 1.25 (or such adjustment as required under Section 12.4) and the dollar limitation in effect under Section 415(b)(1)(A) of the Code, adjusted as prescribed by the Secretary of the Treasury under Section 415(d) of the Code, or (II) the product of 1.4 and the amount which may be taken into account with respect to such Participant under Section 415(b)(1)(B) of the Code for such Limitation Year. Notwithstanding the above, if the Participant was a participant in one or more defined benefit plans of the Employer in existence on May 6, 1986, the dollar limitation of the denominator of this fraction will not be less than one hundred twenty-five percent (125%) of the Participant's Current Accrued Benefit.

Defined Benefit Plan Fraction means, for any Plan Year, a fraction, the numerator of which is the projected benefit payable pursuant to Code Section 415(e)(2)(A) under all Related Defined Benefit Plans and the denominator of which is the lesser of: (i) the product of 1.25 and the dollar limit in effect for the Plan Year under Code Section 415(b)(1)(A), and (ii) the product of 1.4 and one hundred percent (100%) of the Participant's average Compensation for his or her high three (3) years.

Examples of Defined Benefit Plan Fraction in a sentence

• In appropriate cases, the Defined Benefit Plan Fraction will be adjusted to reflect applicable transition rules provided by the Code and the regulations thereunder.

• For Plan Years beginning prior to January 1, 2000, if an Employee is a Participant in the Plan and any one or more Defined Benefit Plans (as defined below) maintained by the Employer or an Affiliate, the sum of his or her Defined Benefit Plan Fraction and his or her Defined Contribution Plan Fraction, as set forth in subsections 5.3(d)(4) and (6), respectively, shall not exceed 1.0 for any Limitation Year.

• In addition to the limitations in Section 3.03 and notwithstanding other provisions of the Plan, in any case in which an individual is a Participant in this Plan and in a defined benefit plan qualified under Section 401(a) of the Code which at any time was maintained by any member of the Affiliated Group, the sum of the Defined Benefit Plan Fraction and the Defined Contribution Plan Fraction for any year may not exceed one.

• The average monthly returns and standard errors on each portfolio at each lag are presented in Table 6.

• With respect to Plan Years commencing prior to January 1, 2000, if any Participant is also participating in any other qualified plan (within the meaning of Code Section 401) maintained by a Participating Employer or Related Employer, then for any limitation year, which will be the Plan Year, the sum of the "Defined Benefit Plan Fraction" and the "Defined Contribution Plan Fraction" for such limitation year will not exceed one.

More Definitions of Defined Benefit Plan Fraction

Defined Benefit Plan Fraction means the following fraction:

Defined Benefit Plan Fraction for any Plan Year means a fraction where the numerator is the Participant's Projected Annual Benefit, as defined below, as of the end of the year and the denominator is the lesser of one and twenty-five hundredths multiplied by the dollar limitation in effect under Code Section 415(b)(1)(A) for such Plan Year or one and four-tenths multiplied by 100 percent of the Participant's average annual Compensation for the highest 3 consecutive calendar Years of Participation.

Defined Benefit Plan Fraction means for any Limitation Year:

Defined Benefit Plan Fraction means, for any Limitation Year, a fraction, the numerator of which is the Participant's projected annual retirement income benefit under all the defined benefit plans (whether or not terminated) maintained by the Employer or any Affiliate of the Employer determined as of the end of the Limitation Year, and the denominator of which is the lesser of:

Defined Benefit Plan Fraction means a fraction determined in accordance with the provisions of Code Section 415(e) and the following rules with respect to the combined participation by a Participant in all defined benefit plans of the Company and all Affiliated Companies.

Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit of a Participant under the Plan and any other defined benefit plan maintained by the Employer or its Controlled Group, whether or not terminated, and the denominator of which is the lesser of:

Defined Benefit Plan Fraction with respect to a Participant, means, subject to section 2004(d)(2) of ERISA, a fraction: