Without resets Sample Clauses

Without resets. The following is an illustration of the impact when there are no automatic GLWB Resets or resets of the Death Benefit Base. It assumes the same facts as the example immediately above, except it assumes negative investment performance averaging -2.35% per year, after fees. Older Annuitant Age Younger Annuitant Age Aggregate Unit Value of Income Class Units 5% Bonus Base LWA Base LWA Minimum Class Contract Maturity Benefit Minimum Class Death Benefit 70 65 $200,000 $200,000 $200,000 $9,000 ($200,000 * 4.5%) $150,000 ($200,000 * 75%) $200,000 ($200,000 * 100%) Assume the Aggregate Unit Value of Income Class Units on the reset date at age 68 is $164,170 73 68 $164,170 $200,000 (unchanged) $200,000 (unchanged) $9,000 ($200,000 * 4.5%) (unchanged) $129,286 $172,382 Assume Annual LWA withdrawal of $9,000 at end of year at age 68 73 68 $152,581 $200,000 $200,000 $9,000 $122,085 $162,780 ($161,581 - $9,000) (unchanged) (unchanged) (unchanged) [($161,581 - $9,000) [($161,581 - $9,000) / / $161,581 * $129,286] $161,581 * $172,382] Assume the Aggregate Unit Value of Income Class Units on the reset date at age 80 is $42,197 85 80 $42,197 $200,000 (unchanged) $200,000 (unchanged) $9,000 (unchanged) ($200,000 * 4.5%) $39,411 $52,549 Assume Annual LWA withdrawal of $9,000 at end of year at age 80 85 80 $32,863 $200,000 $200,000 $9,000 $30,938 $41,252 ($41,863 - $9,000) (unchanged) (unchanged) (unchanged) [($41,863 - $9,000) / $41,863 * $39,411] [($41,863 - $9,000) / $41,863 * $52,549]
Sample 1
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Related to Without resets

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  • Without Pay where an employee participates in a program of training for the purpose of qualifying for a higher rank; or

  • Suspension Without Pay If Employee is suspended and/or temporarily prohibited from participating in the conduct of the Employer's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, the Employer's obligations under this Agreement will be suspended as of the date of service thereof, unless stayed by appropriate proceedings. If the charges in such notice are dismissed, the Employer may in its discretion:

  • Authorized Leave Without Pay A. Agency/Departmental Leave‌ A regular, limited-term or probationary employee may request an agency/departmental leave without pay for a period of time not to exceed fifteen (15) calendar days. The granting of such Leave shall be at the discretion of the agency/department, except in cases where Official Leave has been authorized pursuant to B.4., B.5. and Sections 10, 11.A. and 14, below. The agency/department head may require that all accumulated compensatory leave time be used prior to granting of agency/departmental leave. The use of earned vacation or annual leave prior to the obtaining of agency/departmental leave shall be at the option of the employee.

  • Other Leaves Without Pay 10.10.1 Upon recommendation of the Superintendent and approval by the Board of Trustees, leave without compensation, increment, seniority, or tenure credit may be granted for a period of one school year for the following purposes: Peace Corps, care for a member of the immediate family who is ill, long-term illness of the bargaining unit member, service in an elected public office, or professional study or research.

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