Benefit base means the amount to which the net investment return is applied.
Benefit base means property taxes paid by the resident individual during the tax year on the individual's homestead in this State or rent constituting property taxes paid by the resident individual during the tax year on a homestead in the State.[PL 2013, c. 368, Pt. L, §1 (NEW).]
Benefit base means the amount not less than the amount specified under 11 NCAC 12
Examples of Benefit base in a sentence
Benefit base" means property taxes accrued or rent constituting property taxes accrued.
During the Lifetime Income Period, the i4LIFE ® Advantage charge rate of 0.40% is added to the Account Value Death Benefit base contract expense.7 These charges are added to the i4LIFE ® Advantage charges to comprise the total charges reflected.
Benefit base is not the same as the contract accumulation value and may not be used for partial withdrawals, full surrender or as the base contract death benefit.
The Energy Commission expects to only reimburse fringe benefit costs which are allocable to the Fringe Benefit base costs reimbursed by the Energy Commission.
Benefit base roll-upDuring the benefit base roll-up period, the benefit base grows each year by the benefit base roll-up amount.
More Definitions of Benefit base
Benefit base means the guaranteed balance (as described in the applicable prospectus) used to determine claims payable to Policyholders of the Reinsured Contracts under guaranteed minimum income benefit provisions of the Reinsured Contracts in deferred status.
Benefit base. For each separate account, the Benefit Base on the Register Date is the product of the following Items (1) and (2):
Benefit base is used only for purposes of calculating the Maximum Annual Withdrawal amount. The Benefit Base does not provide, and is not available as a cash or settlement value. On the Issue Date, the Benefit Base is equal to the Fund Account Value. During the Funding Phase, the Benefit Base will be recalculated on each date an Ineligible Withdrawal is made and on each Reset Date, as shown on the Certificate Data Page. The Benefit Base will be recalculated as follows:
Benefit base means the amount, not less than the amount determined under the specifications of subdivision b of subsection 2 of section 45-04-02-12, in accordance with the terms of the variable life insurance policy, to which the difference between the net investment
Benefit base. Reset The Benefit Base is reset on any Contract Anniversary where the Contract Value is greater than the Benefit Base after application of the Benefit Base Enhancement, if any. The Benefit Base will increase to the Contract Value, but will not exceed the Benefit Base Maximum. The Benefit Base will continue to be eligible for an increase due to a Benefit Base Reset on each Contract Anniversary until a Benefit Base Reset is declined as described in the Annual Rider Charge section. Designated Life The person listed in the Rider Specifications whose age is used to determine the Annual Income Percentage. The Designated Life is the Owner of the contract. If the Owner of the contract is other than a natural person, such as a trust or other similar entity, the Designated Life is the Annuitant. A Designated Life may not be added or changed after the Rider Effective Date. Enhancement Base The amount that is multiplied by the Enhancement Rate to calculate any applicable Benefit Base Enhancement. The Enhancement Base will not exceed the Benefit Base Maximum as shown in the Rider Specifications. Guaranteed Annual Income (GAI) The maximum amount that can be withdrawn in any Contract Year after the Benefit Date without affecting the Benefit Base, Enhancement Base, or the GAI in future Contract Years. Guaranteed Interest Options A type of investment option that provides an interest rate guaranteed for a specified period of time. These options are as defined in your contract and may also be referred to as Guaranteed Interest Accounts. For purposes of this rider, references to Guaranteed Interest Options also include any options defined in your contract as Guaranteed Interest Accounts.
Benefit base means property taxes paid by a resident individual during the tax year on the resident individual’s homestead in this State or rent constituting property taxes paid by the resident individual during the tax year on a homestead in the State, up to $2,000 for persons claiming 1 personal exemption and $2,700 for persons claiming 2 or more personal exemptions.
Benefit base. The amount that is multiplied by the Guaranteed Annual Withdrawal Percentage to calculate the Guaranteed Annual Withdrawal. The Benefit Base increases dollar-for-dollar upon any Certificate Contribution and is reduced proportionately for an Excess Withdrawal. The Benefit Base can also increase with positive market performance on the Ratchet Date. Each Covered Fund will have its own Benefit Base. A Covered Fund Benefit Base cannot be transferred to another Covered Fund. Business Day – Any day, and during the hours, on which the New York Stock Exchange is open for trading. In the event that a date falls on a non-Business Day, the date of the preceding Business Day will be used. Certificate - The document issued to the Certificate Owner which specifies the benefits, rights, privileges, and obligations of the Certificate Owner and Great-West.