Common use of Defined Benefit Plan Fraction Clause in Contracts

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-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 Code1983) times 1.25, or (ii) the percentage of compensation limit for such year times 1.4.

Defined Benefit Plan Fraction. As used in this Sectionsection, the words "Defined Benefit Plan defined benefit plan fraction" shall mean, for any Plan year, a fraction, (a) the The numerator of which is the projected annual benefit of the participant, that is, the annual benefit to which he the participant would be entitled under the terms of the Defined Benefit Plan defined benefit plan on the assumptions that he the participant continues employment until his or her normal retirement date as determined under the terms of the Defined Benefit Plandefined benefit plan, that his or her compensation continues at the same rate as in effect in the Plan year under consideration until his or her normal retirement date and that all other relevant factors used to determine bene-fits benefits under such Defined Benefit Plan defined benefit plan remain constant as of the current Plan year for all future Plan years, under all Defined Benefit Plans defined benefit plans maintained by the Company Company, determined as of the close of the Plan year, ; and, (b) the 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 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, 1.25 or (ii) the percentage of compensation limit for such year times 1.4. Effective January 1, 2000, this Paragraph shall not apply.