Maximum Income Amount Sample Clauses

Maximum Income Amount. The amount of income that may be paid during a fiscal year is subject to a maximum determined in accordance with applicable pension legislation. If during any fiscal year of the plan, additional contributions having never been allocated to an LIF, PRRIF, LRIF or RLIF, or in Alberta a DC RIA, are transferred to this SSQ LIF, additional payments may be permitted under the plan during said fiscal year, subject to the maximum income amount prescribed under applicable pension legislation, as it would have applied would these additional funds have been transferred into a separate LIF contract. In Alberta, the additional withdrawal will be calculated in accordance with the applicable pension legislation. In Ontario, the annual maximum is not increased in this case and is calculated based on the value of the contract associated with the SSQ LIF at the beginning of the fiscal year. In Newfoundland and Labrador, Ontario, Nova Scotia or where federal pension legislation applies, if the initial fiscal year of the SSQ LIF is less than 12 months, then the maximum income amount is adjusted in proportion to the number of months in said fiscal year divided by 12, with any part of any partial month counting as one month. However, in Quebec, monies transferred to a Life Income Fund are deemed to come in their entirety from a life income fund held by the same contractholder. Consequently, there is no adjustment of the maximum income amount during a year unless SSQ receives a declaration from the contractholder in conformity with the one prescribed in schedule 0.9 or 0.9.1 of the Regulation respecting supplemental pension plans as the situation requires.
Sample 1
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Maximum Income Amount. The amount of income that may be paid during a fiscal year is not subject to a maximum. If during any fiscal year of the plan, additional contributions having never been allocated to an PRRIF are transferred to this SSQ PRRIF, additional payments may be permitted under the plan during said fiscal year, as it would have applied would these additional funds have been transferred into a separate PRRIF contract.
Sample 1
Maximum Income Amount. The amount of income that may be paid during a fiscal year is subject to a maximum determined in accordance with applicable pension legislation. If during any fiscal year of the plan, additional contributions having never been allocated to an LIF or LRIF, are transferred to this SSQ LRIF, additional payments may be permitted under the plan during said fiscal year, subject to the maximum income amount prescribed under applicable pension legislation, as it would have applied would these additional funds have been transferred into a separate LRIF contract. In Newfoundland and Labrador, if the initial fiscal year of the SSQ LRIF is less than 12 months, then the maximum income amount is adjusted in proportion to the number of months in said fiscal year divided by 12, with any part of any partial month counting as one month.
Sample 1

Related to Maximum Income Amount

  • Maximum Payment The maximum period or aggregate of periods of accident make-up pay to be made by an Employer will be a total of 39 weeks for any one injury.

  • Average Contribution Amount For purposes of this Agreement, to ensure that all employees enrolled in health insurance through the City’s HSS are making premium contributions under the Percentage-Based Contribution Model, and therefore have a stake in controlling the long term growth in health insurance costs, it is agreed that, to the extent the City's health insurance premium contribution under the Percentage-Based Contribution Model is less than the “average contribution,” as established under Charter section A8.428(b), then, in addition to the City’s contribution, payments toward the balance of the health insurance premium under the Percentage-Based Contribution Model shall be deemed to apply to the annual “average contribution.” The parties intend that the City’s contribution toward employee health insurance premiums will not exceed the amount established under the Percentage-Based Contribution Model.

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Maximum Accrual Vacation credit may be accumulated to a maximum that can be earned in four (4) years. Further accumulation will not continue when the maximum is reached. When an employee’s vacation reaches the maximum level, and if the employee has been denied vacation during the twelve (12) months, the employee will be paid for the time denied but no more than eighty (80) hours in a pay period. Annual Rate of Vacation Accumulation Maximum 80 hours 320 hours 120 hours 480 hours 160 hours 640 hours 180 hours 720 hours 200 hours 800 hours 240 hours 960 hours

  • Maximum Contract Amount 4.4.1. Notwithstanding any other provision of this Agreement, the City’s maximum payment obligation will not exceed ($_) (the “Maximum Contract Amount”). The City is not obligated to execute an agreement or any amendments for any further services, including any services performed by the Contractor beyond that specifically described in Exhibit A. Any services performed beyond those in Exhibit A or performed outside the Term are performed at the Contractor’s risk and without authorization under this Agreement.

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Qualified Income Offset In the event any Partner unexpectedly receives any adjustments, allocations or distributions described in Treasury Regulation Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5), or 1.704-1(b)(2)(ii)(d)(6), items of Partnership income and gain shall be specially allocated to such Partner in an amount and manner sufficient to eliminate, to the extent required by the Treasury Regulations promulgated under Section 704(b) of the Code, the deficit balance, if any, in its Adjusted Capital Account created by such adjustments, allocations or distributions as quickly as possible unless such deficit balance is otherwise eliminated pursuant to Section 6.1(d)(i) or (ii).

  • Reallocation to a Class with a Higher Salary Range Maximum Upon appointment to the higher class, the employee’s base salary will be increased to a step of the range for the new class that is nearest to five percent (5.0%) higher than the amount of the pre-promotional step, or to the entry step of the new range, whichever is higher.

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