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.

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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.

• Benefit Option, the Death Benefit is the greater of the Face Amount plus the Account Value on the Last Surviving Insured's date of death, or the Account Value on that Insured's date of death multiplied by the Minimum Death Benefit Factor at the time of that Insured's death (see Table Of Minimum Death Benefit Factors in the POLICY INFORMATION section).

• In addition, following the special benefits continuation period described in paragraph 3, the Executive will remain a Participant in the DBO Plan and the applicable Benefit Factor will be 100%.

• Upon Executive’s Separation From Service on or after reaching the Early Retirement Date but prior to the Normal Retirement Date, Employer shall pay to Executive (or to Executive’s Beneficiary or Beneficiaries), as compensation for services rendered prior to such date an annual amount (payable in monthly installments) calculated under Section 2.1 above, multiplied by the Reduced Benefit Factor in Schedule A.

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

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 and Supplier Development and Socio-Economic Development Con- tributions claimable under statements 400 and 500 (paragraph 12 and 13).

Benefit Factor means, for a Plan Year, a person’s Annual Compensation for the Plan Year multiplied by his actuarial factor for the Plan Year determined in Appendix A, B, or C, as designated in Item Q(3)(c) of the Adoption Agreement. Catch-up Contributions means Elective Deferral Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age 50 or older by the end of their taxable year. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferral Contributions without regard to Catch-up Contributions, such as the limits on the Maximum Annual Additions, as defined in Section 3.07, the dollar limitation on Elective Deferral Contributions under Code Section 402(g) (not counting Catch-up Contributions), and the limit imposed by the ADP Test. (See Item N(4) and Section 3.01.) Catch-up Contributions are not subject to the limits on the Maximum Annual Additions, as defined in Section 3.07, are not counted in the ADP Test, and are not counted in determining the minimum allocation under Code Section 416 (but Catch-up Contributions made in prior years are counted in determining whether the Plan is top-heavy). Claimant means any person who makes a claim for benefits under this Plan. (See Section 9.05.) Code means the Internal Revenue Code of 1986, as amended. Compensation means one of the following as specified in Item M(1): a) Information Required to be Reported Under Code Sections 6041, 6051, and 6052 (“Wages, Tips and Other Compensation” box on Form W-2). Compensation is defined as wages, within the meaning of Code Section 3401(a), and all other payments of compensation to an Employee by the Employer (in the course of the Employer’s trade or business) for which the Employer is required to furnish the Employee a written statement under Code Sections 6041(d), 6051(a)(3), and 6052. Compensation shall be determined without regard to any rules under Code Section 3401(a) that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)). b) Code Section 3401(a)