Basic Benefit definition

Basic Benefit means the type and amount of support services available to each eligible individual, specifically:

Basic Benefit means the amount determined under Section 4.1 at the time of reference.

Basic Benefit means the accrual made by the Company for the benefit of a Participant equal to 7 1/2 percent of the Participant's Compensation, or such lesser amount as the Committee establishes pursuant to Section 3.4.

Examples of Basic Benefit in a sentence

• The Basic Benefit shall be credited to each Participant's Basic Benefit Account as of the last day of each month of each Plan Year for the accrual attributable to Compensation paid during that month.

• The Administrator shall establish a Deferral Account for each Deferred Participant, (i) to which shall be added the deferred portion of such Deferred Participant’s Basic Benefit effective not less than thirty (30) days after his Separation, (ii) to which shall be added (or deducted) Earnings, and (iii) from which shall be deducted Deferred Payments.

• The Committee may reduce the percentage of the Basic Benefit accrual and/or the Company Match accrual upon written notice to a Participant.

• In addition, amounts contributed to the VSP on or after January 1, 2007, shall not be taken into account in determining a Category II Participant’s Basic Benefit.

• The amount determined by subtracting the Base Defined Benefit Plan Benefit from the greatest of (i) the Base Plan Social Security Offset Benefit, (ii) the Final Average Earnings Benefit, or (iii) the Basic Benefit.

More Definitions of Basic Benefit

Basic Benefit means the accrual made by the Company for the benefit of a Participant equal to 7 1/2 percent of the Participant's Compensation.

Basic Benefit means the benefit established pursuant to Section 134 of this Chapter.

Basic Benefit means the Total Benefit determined under the Basic Benefit formula, as set forth in Section 3.3.

Basic Benefit is equal to the lesser of the state maximum rate or the sum of the premium costs for family Dental, Vision, Long Term Disability, Health Care Authority retiree program, and Medical insurance.

Basic Benefit means the benefit payable under Section 1 of Appendix E, provided all conditions for eligibility are satisfied.

Basic Benefit means the dollar award granted to a qualified CEAP applicant. The value of the basic benefit varies and is dependent on the income level of the household.

Basic Benefit means the monthly benefit payable under the Plan for the lifetime of a retired or separated employee after age 65, including a benefit reduced by a percentage because of early retirement. The term "basic benefit" shall not include any supplementary pension benefit or special allowance payable under the Plan.