Adjustment of contribution rate Sample Clauses

Adjustment of contribution rate. 6.5.1 Without prejudice to its powers under regulation 64(4) of the 2013 Regulations, where the Administering Authority considers there are circumstances which make it likely that the Admission Body will become an exiting employer, the Administering Authority may obtain from the Actuary a certificate specifying the percentage or amount by which: 6.5.1.1 the Admission Body’s contribution rate at the primary rate should be adjusted; or 6.5.1.2 any prior secondary rate adjustment should be increased or reduced; with a view to ensuring that assets equivalent to the anticipated exit payment that will be due from the Admission Body are provided to the Fund by the likely exit date or, where the Admission Body is unable to meet that liability by that date, over such period of time thereafter as the Administering Authority considers reasonable. 6.5.2 In accordance with regulations 64(6) and (7) of the 2013 Regulations, where: 6.5.2.1 the Admission Body agrees under Clause 5.3.1.1 (Additional pension) to pay increased contributions to meet the cost of an award of additional pension under regulation 31 of the 2013 Regulations; or 6.5.2.2 it appears likely to the Administering Authority that the amount of the liabilities arising or likely to arise in respect of Members in employment with the Admission Body exceeds the amount specified, or likely as a result of the assumptions stated, for the Admission Body, in the current rates and adjustments certificate applying to the Admission Body; the Administering Authority must obtain a revision of the rates and adjustments certificate concerned, showing the resulting changes required.
Sample 1Sample 2Sample 3See All (4)
Adjustment of contribution rate. 6.5.1 Pursuant to regulation 64(1) of the 2013 Regulations and regulation 25A of the Transitional Regulations, but subject to any exercise by the Administering Authority of its power to issue a suspension notice under regulation 64(2A) of the 2013 Regulations, where this Agreement terminates in accordance with Clause 7 (Termination) or the Admission Body no longer employs an active member contributing to the Fund: 6.5.1.1 subject to any outstanding requirements to make payments under Clauses 6.1.4, 6.1.5 and 6.1.6, the parties agree that the assets and liabilities of the Admission Body under this Agreement shall be subsumed within the Fund by the Scheme Employer so that no exit payment will be due from, and no exit credit will be payable to, the Admission Body. Instead, the Administering Authority may obtain a further revision of the Scheme Employer’s rates and adjustments certificate showing the revised contributions (if any) due from the Scheme Employer in respect of such assets and liabilities, and the Scheme Employer will correspondingly be entitled to benefit from any surplus within the Fund relating to those assets and liabilities; and 6.5.1.2 if, pursuant to the 2013 Regulations, the Administering Authority is required to pay an exit credit to the Admission Body, the Admission Body must reimburse that exit credit to the Fund, and the reimbursed amount will be credited to the Scheme Employer.
Sample 1Sample 2See All (4)
Adjustment of contribution rate. 6.4.1 Where in the opinion of the Administering Authority there are circumstances that suggest that the Admission Body is to cease being an admission body at some point in the future, the Administering Authority may obtain periodically from the Actuary a certificate specifying the percentage or amount by which: 6.4.1.1 the Admission Body's contribution rate at the common rate should be adjusted; or 6.4.1.2 any prior individual adjustment should be increased or reduced with a view to providing that the value of the Fund’s assets in respect of the Members is neither materially more nor materially less than the Fund’s anticipated liabilities in respect of the Members at the date it appears to the Administering Authority that the Admission Body will cease to be an admission body (calculated on such basis as the Actuary shall recommend). 6.4.2 In accordance with Regulation 64(1) of the Regulations the Administering Authority shall obtain an actuarial valuation as at the date this Agreement ceases to have effect of the Fund’s liabilities in respect of the Members (calculated on such basis as the Actuary shall recommend) and a revision of the Admission Body’s rates and adjustments certificate showing the revised contribution(s) due and payable by the Admission Body. 6.4.3 Where, in the opinion of the administering authority, there is a reasonable expectation that the exiting admission body is likely to have one or more active members contributing to the fund, within a period of up to 3 years, the Administering Authority may issue a written notice (“a suspension notice”) to the exiting admission body suspending that employer’s liability to pay its cessation debt assessed in accordance with Clause 6.4.2 above during the period of that notice. 6.4.4 Where a suspension notice period ends, or the notice is withdrawn, and the admission body does not have any active members contributing to the fund it will become immediately liable for the payment of the exit payment assessed in accordance with Clause 6.4.2 above. 6.4.5 The Admission Body shall meet the costs of obtaining any certificate under Clauses 6.4.1, 6.4.2 or 6.4.2 (Adjustment of Contribution Rate). The Admission Body will co-operate with the Administering Authority and the Actuary to provide the certificate or review. 6.4.6 The Admission Body agrees that any reference to a Scheme employer in Regulation 64 of the Regulations shall be deemed to include an admission body.
Sample 1Sample 2
Adjustment of contribution rate. 6.5.1 In accordance with the Regulations, the Administering Authority may from time to time obtain from the Actuary a certificate, or a revision of an existing certificate, specifying the percentage or amount by which the contribution rate at the primary rate and/or the secondary rate as relates to the Admission Body should be increased or reduced. 6.5.2 Pursuant to regulation 64(1) of the 2013 Regulations and regulation 25A of the Transitional Regulations, but subject to any exercise by the Administering Authority of its power to issue a suspension notice under regulation 64(2A) of the 2013 Regulations, on the earlier of this Agreement terminating in accordance with Clause 7 (Termination), the Admission Body no longer employing an active member contributing to the Fund, or the Admission Body ceasing to be a Scheme employer (the “Exit date”): 6.5.2.1 the Administering Authority must obtain an actuarial valuation as at the Exit Date of the Fund’s liabilities in respect of the Members calculated on such basis as the Actuary recommends and a revision of the Admission Body’s rates and adjustments certificate showing any exit payment (as defined by the Regulations) due and payable by the Admission Body or the excess of assets in the Fund relating to those liabilities. 6.5.2.2 where for any reason it is not possible to obtain all or part of any exit payment from the Admission Body or from any person providing a bond, indemnity or guarantee in accordance with Clause 8 (Risk assessment) then, in accordance with Regulation 64(3) of the 2013 Regulations, the Administering Authority will obtain a further revision of the rates and adjustment certificate of the body which is the related employer as defined in regulation 64(8) of the 2013 Regulations in relation to the Admission Body. For the avoidance of doubt, an exit payment may require that a lump sum payment must be paid by the Admission Body. 6.5.3 The Admission Body must meet the costs of any certificate and actuarial valuation referred to at Clauses 6.5.1 and 6.5.
Sample 1
Adjustment of contribution rate. The ‘Administering Authority’ may periodically obtain from an actuary appointed by the ‘Administering Authority’ a certificate specifying the percentage or amount by which in the actuary's opinion:
Sample 1

Related to Adjustment of contribution rate

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Payment of Contributions The University and eligible academic staff members shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Performance Adjustment Rate Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest .01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the portfolio, the portfolio's investment performance will be based on the performance of the retail class. The performance period will commence with the first day of the first full month following the retail class's commencement of operations. During the first eleven months of the performance period for the retail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

  • Return of Contribution Nonrecourse to Other Members Except as provided by law, upon dissolution, each member shall look solely to the assets of the Company for the return of the member's capital contribution. If the Company property remaining after the payment or discharge of the Company's debts and liabilities is insufficient to return the cash contribution of one or more members, such member or members shall have no recourse against any other member or the Board.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • Adjustment to Interest Rate Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.