Age-Only Band Formula Sample Clauses

Age-Only Band Formula. Enter the starting allocation rate in the first blank, and the allocation rates for each age-only band in the nine (9) blanks below. The schedule of allocation rates must have regular intervals such that each band, other than the band associated with the lowest and highest ages, is the same length. The allocation rate for each band must be greater than the allocation rate for the immediately preceding band [i.e., the band with the next lower number of years of age but by no more than five (5) percentage points]. However, the ratio of the allocation rate for any band to the rate for the immediately preceding band must not exceed 2.0 and also must not exceed the ratio of allocation rates between the two (2) immediately preceding bands. First age band: Age-only bands commence with ages less than twenty-five (25) as the first allocation band with an allocation rate of %. Subsequent allocation rate bands are as follows: At least age 25 but less than 30 with an allocation rate of %, At least age 30 but less than 35 with an allocation rate of %, At least age 35 but less than 40 with an allocation rate of %, At least age 40 but less than 45 with an allocation rate of %, At least age 45 but less than 50 with an allocation rate of %, At least age 50 but less than 55 with an allocation rate of %, At least age 55 but less than 60 with an allocation rate of %, At least age 60 but less than 65 with an allocation rate of %, At least age 65 with an allocation rate of %.
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