Defined Benefit Plan Fraction. For Limitation Years beginning before January 1, 2000, a fraction, the numerator of which is the sum of the Participant’s Projected Annual Benefits under all the Defined Benefit Plans (whether or not terminated) maintained by the Employer, and the denominator of which is the lesser of 125% of the dollar limitation determined for the Limitation Year under Code Sections 415(b) and (d) or 140% of the Highest Average Compensation, including any adjustments under Code Section 415(b).
Defined Benefit Plan Fraction. As used in this Section, the words "Defined Benefit Plan fraction" shall mean, for any Plan year, a fraction,
(a) the numerator of which is the projected annual benefit of the participant, that is, the annual benefit to which he would be entitled under the terms of the Defined Benefit Plan on the assumptions that he continues employment until his normal retirement date as determined under the terms of the Defined Benefit Plan, that his compensation continues at the same rate as in effect in the Plan year under consideration until his normal retirement date and that all other relevant factors used to determine bene-fits under such Defined Benefit Plan remain constant as of the current Plan year for all future Plan years, under all Defined Benefit Plans maintained by the Company determined as of the close of the Plan year, and
(b) the denominator of which is the lesser of: (i) the maximum dollar limit for such year (for example, ninety thousand dollars ($90,000.00) for 1983 and adjusted annually for increases in the cost of living as permitted under Section 415(d) of the Internal Revenue Code) times 1.25, or (ii) the percentage of compensation limit for such year times 1.4.
Defined Benefit Plan Fraction. As used in this section, the words "defined benefit plan fraction" shall mean, for any Plan year, a fraction,
(a) the numerator of which is the projected annual benefit of the participant, that is, the annual benefit to which he would be entitled under the terms of the defined benefit plan on the assumptions that he continues employment until his normal retirement date as determined under the terms of the defined benefit plan, that his compensation continues at the same rate as in effect in the Plan year under consideration until his normal retirement date and that all other relevant factors used to determine bene-fits under such defined benefit plan remain constant as of the current Plan year for all future Plan years, under all defined benefit plans maintained by the Company, determined as of the close of the Plan year; and,
(b) the denominator of which is the lesser of: (i) the maximum dollar limit for such year (for example, ninety thousand dollars ($90,000.00) for 1983, and adjusted annually for increases in the cost of living as permitted under Section 415(d) of the Internal Revenue Code) times 1.25, or (ii) the percentage of compensation limit for such year times 1.4.
Defined Benefit Plan Fraction. A component of the combined limitation test under Code §415(e) for Employers that maintain or ever maintained both a Defined Contribution and a Defined Benefit Plan. See Section 7.5 (b)(1).
Defined Benefit Plan Fraction. 3.19(j) (3.09) Defined Contribution Plan...............................3.19(h) (3.08) Defined Contribution Plan Fraction......................3.19(k) (3.09) Determination Date...................................1.33(B)(7) (1.10) Disability.................................................1.28 (1.07) Distribution Date..........................................6.01 (6.01) Distribution Restrictions.............................14.03(m) (14.03) Earned Income..............................................1.13 (1.05) Effective Date.............................................1.18 (1.05) Elective Deferrals....................................14.03(h) (14.02)
Defined Benefit Plan Fraction. A fraction, the numerator of which is the sum of the Participant’s Projected Annual Benefit under all the Defined Benefit Plans (whether or not terminated) maintained by the Employer, and the denominator of which is the lesser of 125 percent of the dollar limitation determined for the Limitation Year under Code §§415(b) and (d) or 140 percent of the Participant’s Highest Average Compensation, including any adjustments under Code §415(b). Notwithstanding the above, if the Participant was a Participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more Defined Benefit Plans maintained by the Employer which were in existence on May 6, 1986, the denominator of this fraction will not be less than 125 percent of the sum of the annual benefits under such plans which the Participant had accrued as of the close of the last Limitation Year beginning before January 1, 1987, disregarding any changes in the terms and conditions of the plans after May 5, 1986. The preceding sentence applies only if the Defined Benefit Plans individually and in the aggregate satisfied the requirements of Code §415 for all Limitation Years beginning before January 1, 1987. If the Plan is a Top-Heavy Plan for any Plan Year, 100% will be substituted for 125% in the prior paragraph, unless in Part 13, #54.b. of the Agreement [Part 13, #72.b. of the 401(k) Agreement], the Employer provides an extra minimum top-heavy allocation or benefit in accordance with Code §416(h) and the regulations thereunder. In any event, if the Top-Heavy Ratio exceeds 90%, then 100% will always be substituted for 125% in the prior paragraph.
Defined Benefit Plan Fraction. For Limitation Years beginning before January 1, 2000, a fraction, the numerator of which is the sum of the Participant's Projected Annual Benefits under all the Defined Benefit Plans (whether or not terminated) maintained by the Employer, and the denominator of which is the lesser of 125% of the dollar limitation determined for the Limitation Year under Code Sections 415(b) and (d) or 140% of the Highest Average Compensation, including any adjustments under Code Section 415(b). Transitional Rule If an Employee was a Participant as of the first day of the first Limitation Year beginning after 1986, in one or more Defined Benefit Plans maintained by the Employer which were in existence on May 6, 1986, the denominator of this fraction will not be less than 125% of the sum of the annual benefits under such Plans which the Participant had accrued as of the close of the last Limitation Year beginning before 1987, disregarding any changes in the terms and conditions of the Plan after May 5, 1986. The preceding sentence applies only if the Defined Benefit Plans individually and in the aggregate satisfied the requirements of Code Section 415 for all Limitation Years beginning before 1987.
Defined Benefit Plan Fraction. A fraction, the numerator of which is the sum of the Participant's projected annual benefits under all defined benefit plans (whether or not terminated) maintained by the Employer, and the denominator of which is the lesser of 125% of the dollar limitation determined for the Limitation Year under Section 415(b) and (d) of the Code or 140% of the "Highest Average Compensation" (as 11 defined in Section 3.05(E)(8)), including any adjustments under Section 415(b) of the Code. However, if the Participant was a participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined benefit plans maintained by the Employer which existed on May 6, 1986, the denominator of this Fraction is not less than 125% of the sum of the annual benefits under those plans which the Participant had accrued as of the close of the last Limitation Year beginning before January 1, 1987, ignoring any changes in the terms and conditions of the plan after May 5,1986, but only if the defined benefit plans individually and together satisfied the requirements of Section 415 of the Code for all Limitation Years beginning before January 1, 1987.
Defined Benefit Plan Fraction. 3.19(j)(3.09) Owner-Employee..........................1.08(1.02) Defined Contribution Plan.............3.19(h)(3.08) Paired Plans............................1.34(1.10) Defined Contribution Plan..........................
Defined Benefit Plan Fraction. (1) The defined benefit plan fraction for any Limitation Year is a fraction (a) the numerator of which is the "projected annual benefit" of the Participant under the Plan (determined as of the close of the Limitation Year), and (b) the denominator of which is the greater of (i) the product of 1.25 multiplied by the "protected current accrued benefit" or (ii) the lesser of (a) the product of 1.25 multiplied by the maximum dollar limitation provided under Code Section 415(b)(1)(A) for such limitation year, or (b) the product of 1.4 multiplied by the amount which may be taken into account under Code Section 415(b)(1)(B) for such Limitation Year.
(2) For purposes of applying the limitations of Code Section 415, the "projected annual benefit" for any Participant is the benefit, payable annually, under
