Benefit Credit definition

Benefit Credit means the amount credited to a Participant’s HRA Account for the provision of benefits under the Plan as provided in Section 4.2.
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Benefit Credit means amounts that would be credited to an eligible Participant’s Personal Pension Account, as defined in the EDS Retirement Plan, pursuant to Section 5.2 of the EDS Retirement Plan, determined without regard to any choice election made under Section 5.8 of that plan.
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Benefit Credit means the amount credited to an Employee’s HRA Account for the provision of benefits under the Plan.
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Examples of Benefit Credit in a sentence

  • Maximum Benefit Credit: All paid benefits applied to the maximum benefit amounts under the Prior Plan will also be applied to the maximum benefit amounts under this Certificate.

  • In order to convert the Worker’s salary into an hourly rate of pay, divide the employee’s weekly, bi-weekly or monthly earnings by the total number of hours Worked (government and non-government), including overtime hours for the time period used.114$800.00 (weekly salary) / 40 (total weekly hours) = $20.00$1,600.00 (bi-weekly salary) / 80 (total bi-wee kly hours) = $20.00$3,200.00 (monthly salary) / 160 (total monthly hours) = $20.00 APPENDIX B FRINGE BENEFIT CREDIT Fringe Benefit Credit Calculation.

  • Any benefits paid under the Prior Plan with respect to such replaced coverage will not be applied to or deducted from the maximum benefits payable for services under this Certificate.Maximum Benefit Credit: All paid benefits applied to the maximum benefit amounts under the Prior Plan will also be applied to the maximum benefit amounts under this Certificate.

  • To the extent that Installment Payments are suspended under this section, such suspended Installment Payments (without interest) shall be paid as soon as the Benefit Credit Balance is greater than or equal to the suspended Installment Payment or Installment Payments.

  • A Participant may receive a Benefit Credit which shall be allocated to his or her Account(s), provided that the Benefit Credit is subject to such amounts, limits, terms and conditions as are specified by the Employer.

  • As of the first day of each Plan Year, for so long as the Employee is entitled to future Installment Payments, and to the extent the Benefit Credit Balance is less than the future benefits payable under this Agreement, the Bank shall credit to a book reserve account maintained for the Employee an amount equal to the Annual Benefit Credit.

  • Notwithstanding the provisions of subsections 3(a), 3(c), and 3(d), in the event the Benefit Credit Balance is less than an Installment Payment to be paid, the Installment Payment shall not be made.

  • The Annual Benefit Credit shall be an amount equal to the quotient of (1) the difference between (a) the Annual Earnings on Bank-Owned Life Insurance, minus (b) the Annual After-Tax Cost-of-Funds; divided by (2) the After-Tax Factor.

  • Unless otherwise set forth by the Employer, Employees who become eligible to participate in the Plan on a date other than the first day of the Plan Year shall be eligible to receive the Benefit Credit as specified by the Employer for that Plan Year, if any, reduced proportionately for each full or partial month (or any other period of time relevant in calculating the Benefit Credit) of the Plan Year during which the Employee was not eligible to participate in the Plan.

  • Nomination Formmeans the nomination form on which you name the person to receive a benefit from your Benefit Credit if you die whilst still a Contributor to the Scheme, set out at the back of this Information Booklet.


More Definitions of Benefit Credit

Benefit Credit means the amount deemed credited to a Participant’s HRA Account for the provision of benefits under the Plan as provided in Section 4.2.
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Benefit Credit means the amount determined under clause 16AA;
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Related to Benefit Credit

  • Disability Benefit means the benefit set forth in Article 8.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.