Benefit Factor definition

Benefit Factor means, subject to satisfaction of all policy terms and conditions by the owner or assignee, the number of payment installments that should be made when monthly or combination benefits are selected.

Benefit Factor means the multiple (either 2.0, 1.5, or 1.0) which has been assigned to each Participant for purposes of determining the Participant's benefit under Section 4.2(a)(ii) and Section 4.3(a)(ii), as the case may be, and which Benefit Factor may be different for each of Section 4.2(a)(ii) and Section 4.3(a)(ii).

Benefit Factor means the multiple which has been assigned to each Participant for purposes of determining the Participant’s benefit under Section 4.1(b).

Examples of Benefit Factor in a sentence

• The Plan Administrator will allocate the Employer Contribution for the Plan Year in the same ratio that each Participant's Benefit Factor for the Plan Year bears to the sum of the Benefit Factors of all Participants for the Plan Year.

• A Participant's Benefit Factor is his/her Compensation for the Plan Year multiplied by the Participant's Actuarial Factor.

• During each Benefit Year the Benefit Payment Remaining will be increased by purchase payments (and associated Credit Enhancements, if applicable to your Contract) multiplied by the Withdrawal Benefit Factor and reduced by the amount of each withdrawal.

• The Death Benefit Factor depends on the IRC 7702 test chosen at issue by the policy owner (Cash Value or Guideline Premium test).

• The Death Benefit Factor depends on the IRC 7702 test chosen at issue by the Owner (Cash Value or Guideline Premium test).

More Definitions of Benefit Factor

Benefit Factor means the percentage used in calculating a judge’s monthly retirement allowance under Section 75522.

Benefit Factor means a factor specified in the Benefit Factor Matrix applicable to fixing the monetary value of Enterprise Development and Supplier Development as well as Socio-Economic Development Contributions claimable under Statement 400 and 500.

Benefit Factor means the multiple (e.g., 3.0,2.0 or 1.5) which has been assigned to each Participant pursuant to the recommendations of the Committee and the approval of the Board for purposes of determining the Participant's benefit under Section 4.1 (b).

Benefit Factor for a Plan Year means twenty-five percent (25%), plus two percent (2%) for each Year of Service completed by the Participant. The Benefit Factor shall not exceed thirty-five percent (35%).

Benefit Factor means a percentage, determined by the Committee in its sole discretion, as set forth in this Section 1.4, which shall be multiplied by a Participant's Final Salary to determine the Participant's death benefit under the Plan. Subject to change by the Committee in its sole discretion from time to time, if a Participant dies while employed by the Company, the Participant's Benefit Factor shall be 300%. Subject

Benefit Factor. * means a factor specified in the Benefit Factor Matrix applicable to fixing the monetary value of Enterprise Development and Socio-economic Development Contributions claimable under statements 600, 700, 806 and 807.

Benefit Factor means sixty-five percent (65%) for the Plan Year in which the Participant has attained his Normal Retirement Date. For Plan Years in which the Participant has not yet attained his Normal Retirement Date, the Benefit Factor shall be the following based on the Participant’s attained age during such Plan Year: