Unfunded Benefit Liability definition

Unfunded Benefit Liability means the excess of a Plan's benefit liabilities (as defined in Section 4001(a)(16) of ERISA) over the current value of such Plan's assets, determined in accordance with the assumptions used by the Plan's actuaries for funding the Plan pursuant to Section 412 of the IRC for the applicable plan year.

Unfunded Benefit Liability has the meaning assigned to that term in subsection 5.11D.

Unfunded Benefit Liability means the excess of a Qualified Plan's or a Multiemployer Plan's benefit liabilities (as defined in Section 4001(a)(16) of ERISA) over the current value of such plan's assets, determined in accordance with the assumptions used by the plan's actuaries for funding the plan pursuant to Section 412 of the Code for the applicable plan year. Voting Interests. Stock or similar interests, of any class or classes (however designated), the holders of which are at the time entitled, as such holders, to vote for the election of a majority of the directors (or persons performing similar functions) of the partnership, corporation, association, trust or other business entity involved, whether or not the right so to vote exists by reason of the happening of a contingency.

Examples of Unfunded Benefit Liability in a sentence

• The restructuring will be for the purpose of separating the liabilities arising under SHIP’s LTC policies that it is projected to have sufficient assets to fund (the Initial Funded Restructured Policy Value - “IFRPV”), from those that it is projected to be unable to fund (the Unfunded Benefit Liability - UBL).

• Given the rise in stock, we also assume that landlord numbers will grow by 2.7% per year.

• Except as described in the preceding sentence, when the policy transfers are made as described in this Subsection, the transferring Company will not transfer the Unfunded Benefit Liability (UBL) under those policies and the receiving Company will not assume that liability.

• The Company will retain indebtedness to the policyholders for the amount by which the liabilities have been reduced, i.e., the Unfunded Benefit Liability (UBL).

• SELLER is not responsible for typographical errors made in any of its publications or for stenographic or clerical errors made in preparation of quotations, sales orders, acknowledgments, or invoices.

More Definitions of Unfunded Benefit Liability

Unfunded Benefit Liability. The excess of a Plan's benefit liabilities (as defined in Section 4001(a)(16) of ERISA) over the current value of such Plan's assets, determined in accordance with the assumptions used by the Plan's actuaries for funding the Plan pursuant to Section 412 of the Code for the applicable plan year.

Unfunded Benefit Liability. With respect to any Plan, the amounts described in Section 4001(a)(18) of ERISA.

Unfunded Benefit Liability or “UBL” means the portion of a policy’s Unmodified Policy Value that exceeds its IFRPV.

Unfunded Benefit Liability shall have the meaning given in and be determined in accordance with Section 4001(a)(18) of ERISA.

Unfunded Benefit Liability means (i) with respect to each Benefit Plan, the amount (if any) by which the present value of all non-forfeitable benefits under each Benefit Plan exceeds the current value of such Benefit Plan’s assets allocable to such benefits, all determined in accordance with the respective most recent valuations for such Benefit Plan using applicable PBGC plan termination actuarial assumptions (the terms “present value” and “current value” shall have the same meanings specified in Section 3 of ERISA) and (ii) with respect to each Foreign Pension Plan, the amount (if any) by which the present value of all non-forfeitable benefits under each Foreign Pension Plan exceeds the current value of such Foreign Pension Plan’s assets allocable to such benefits, all determined in accordance with the respective most recent valuations for such Foreign Pension Plan using the most recent actuarial assumptions and methods being used by the Foreign Pension Plan’s actuaries for financial reporting under applicable accounting and reporting standards.

Unfunded Benefit Liability means (i) with respect to each Benefit Plan, the amount (if any) by which the present value of all non-forfeitable benefits under each Benefit Plan exceeds the current value of such Benefit Plan’s assets allocable to such benefits, all determined in accordance with the respective most recent valuations for such Benefit Plan using applicable PBGC plan termination actuarial assumptions (the terms “present value” and “current value” shall have the same meanings specified in Section 3 of ERISA) and

Unfunded Benefit Liability means with respect to any Plan, the amounts described in Section 4001(a)(18) of ERISA.