Common use of Maximum Accrued Benefit for Ordinary Retirement Clause in Contracts

Maximum Accrued Benefit for Ordinary Retirement. The maximum accrued benefit is 100% of the defined annual benefit. The benefit will not continue to accrue after a priest begins to receive a benefit under this program.

Maximum Accrued Benefit for Ordinary Retirement. The maximum accrued benefit is 100% of the defined annual benefit. The benefit will not continue to accrue after a priest begins to receive a benefit under this program. Extra seniority from teaching or missionary service, or unused sabbatical time, will not be used to determine accrued benefit.