Credited Interest. For the purpose of determining refunds in the event of termination or death before retirement, an employee's own contributions shall be credited from July with interest compounded annually at a rate below the rate earned by the fund on its fixed income investments calculated at their book value.
Credited Interest. Credited Interest" on a Participant's Contributions and Prior Plan Contributions, if any, shall mean interest for the number of full months from the date that such Contributions are received by the Administrator to the date specified herein. The initial rate of Credited Interest is 4% per annum compounded on each anniversary of the Effective Date. Any change in the rate of Credited Interest will apply to interest allowed after the effective date of such change.
Credited Interest. The term “
Credited Interest. The rate of interest credited for year shall be equal the average yield of series reported in the Bank of Canada Review) over the preceding calendar year.
Credited Interest. Credited Interest" on a Participant's Contributions shall mean• interest for the number of full months from the anniversary of the Effective Date following the date such Contributions are received by the Insurance Company to the date specified herein. Credited Interest on Prior Plan Contributions, if any, shall mean interest for the number of full months from the date that such Contributions are received by the Insurance Company to the date specified herein. The initial rate of Credited Interest is 4% per annum compounded on each anniversary of the Effective Date. Any change in the rate of Credited Interest will apply to interest allowed after the effective date of such change.
Credited Interest. Each Cash Account shall be credited with interest until the entire Account balance has been paid out. The interest rate shall be the pre-tax equivalent yield on the Company's combined short-term and long-term investment portfolios. In the absence of such investment portfolios, the interest rate shall be the 30-day London Interbank Offered Rate (LIBOR) for U.S. dollar deposits as quoted in the Wall Street Journal, less .25 percent. Interest shall be compounded monthly using the interest rate as of the last business day of the preceding month.
Credited Interest. Interest will be credited to the Contractholder's Guaranteed Long Term Account daily. Interest will be credited to each dollar in the Guaranteed Long Term Account, pursuant to the Contract Section 3.2(C), from the Valuation Date on which it is allocated to the Guaranteed Long Term Account until the Valuation Date as of which it is transferred, distributed or disbursed from the Guaranteed Long Term Account. The rate of Credited Interest for any period of time will be determined by the Insurance Company and may be changed from time to time. Any such change by the Insurance Company will be declared in advance and will become effective as of the first day of the month immediately following the date the Contractholder is mailed notice of such change. The rate of Credited Interest will not be reduced by more than 2.10% during any calendar year. The rate of Credited Interest shall never be less than zero (0) percent.
