Economic Benefit. The Corporation shall annually determine the economic benefit attributable to the Participant based on the amount of the current term rate for the Participant's age multiplied by the aggregate death benefit payable to the Participant's beneficiary. The "current term rate" is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority. The Corporation shall annually impute the economic benefit to the Participant.
Appears in 2 contracts
Samples: Split Dollar Life Insurance Plan (Heartland Financial Usa Inc), Split Dollar Life Insurance Plan (Heartland Financial Usa Inc)
Economic Benefit. The Corporation Company shall annually determine the economic benefit attributable to the Participant based on the amount of the current term rate for the Participant's ’s age multiplied by the aggregate death benefit payable to the Participant's ’s beneficiary. The "“current term rate" ” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority. The Corporation shall annually impute the economic benefit to the Participant.
Appears in 2 contracts
Samples: Group Term Replacement Plan (CFSB Bancorp, Inc. /MA/), Group Term Carve Out Plan (Athens Bancshares Corp)
Economic Benefit. The Corporation Company shall annually determine the economic benefit attributable to the Participant based on the amount of the current term rate for the Participant's ’s age multiplied by the aggregate death benefit payable to the Participant's beneficiary’s Beneficiary. The "“current term rate" ” is the minimum amount required to be imputed under Internal Revenue Rulings 64Notice 2002-328 and 66-1108, or any subsequent applicable authority. The Corporation shall annually impute the economic benefit to the Participant.
Appears in 1 contract
Economic Benefit. The Corporation Company shall annually determine the economic benefit attributable to the Participant based on the amount of the current term rate for the Participant's ’s age multiplied by the aggregate death benefit payable to the Participant's ’s beneficiary. The ", the “current term rate" ” is the minimum amount required to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent applicable authority. The Corporation shall annually impute the economic benefit to the Participant.
Appears in 1 contract
Economic Benefit. The Corporation Company shall annually determine the economic benefit attributable to the Participant based on the amount of the current term rate for the Participant's ’s age multiplied by the aggregate death benefit payable to the Participant's ’s beneficiary. The "“current term rate" ” is the minimum amount required to be imputed under Internal Revenue Rulings 64Service Notice 2002-328 and 66-1108, or any subsequent applicable authority. The Corporation shall annually impute the economic benefit to the Participant.
Appears in 1 contract
