Benefit Years definition

Benefit Years means, subject to Section 5.4, the Participant's Benefit Years as that term is defined for purposes of the Retirement Plan; provided, however, that if the Participant had become a covered employee under the Retirement Plan by reason of transfer from hourly-paid service with the Company or an affiliate on or after January 1, 1992, Benefit Years shall also be credited with respect to his service as an hourly employee prior to such transfer.
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Benefit Years means Years of Credited Service for benefit accrual purposes as determined under Section 2.46 of the Retirement Plan.
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Benefit Years means years of service for benefit accrual purposes as determined under Section 3.06 of the CenturyTel Retirement Plan.
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Examples of Benefit Years in a sentence

  • For Benefit Years 2021 (December 27, 2020 – December 25, 2021) and 2022 (anticipated to be December 26, 2021 – December 24, 2022, based on the biweekly health coverage calendar), the COUNTY agrees to participate in the Teamsters Local Union No. 856 Health and Welfare Trust.

  • Retirement Plan - The Medical Center shall freeze accruals under the Pension Plan effective February 29, 2008 for all Registered Nurses, so that benefits determined pursuant to that formula shall be based on Benefit Years and Final Average Pay as of that date.

  • Medical Center shall freeze accruals under the Pension Plan effective February 29, 2008 for all Registered Nurses, so that benefits determined pursuant to that formula shall be based on Benefit Years and Final Average Pay as of that date.

  • For purposes of calculating the Supplemental Benefit, Years of Service shall include the number of years (including any partial years) that the Executive has been an employee of the Bank or Company (up to a maximum of twenty-years).

  • AFA and the District agree that these levels of monthly out-of-pocket premium costs, will not increase until October 1, 2013; or three (3) Benefit Years.

  • Notwithstanding the foregoing, if this Plan is ever Top-Heavy, a Participant's Normal Pension Benefit or Accrued Benefit shall in no event provide a monthly payment less than the product of 1.8 percent of his average compensation multiplied by the number of his Top-Heavy Benefit Years up to but not exceeding 10 Top-Heavy Benefit Years.

  • For Benefit Years 2021 and 2022, the County will also continue to participate in the Teamsters Local Union No. 856 Health and Welfare Trust.

  • Maximum Carryover – If at least one Covered Service is applied toward your Maximum Payment in a Benefit Year and the total Benefit paid does not exceed $750 in that Benefit Year, up to $250 will carry over to the next Benefit Year's Maximum Payment.

  • In the event of a termination of the Plan (other than a partial termination), any amount remaining after all fixed and contingent liabilities of the Plan have been satisfied shall be allocated to each Participant in proportion to the present value of a benefit commencing at Normal Retirement Date equal to such Participant's Average Earnings times Benefit Years.

  • The Medical Center shall freeze accruals under the Pension Plan effective February 29, 2008 for all Registered Nurses, so that benefits determined pursuant to that formula shall be based on Benefit Years and Final Average Pay as of that date.


More Definitions of Benefit Years

Benefit Years means Years of Credited Service for benefit accrual purposes as determined under Section 2.51 of the Retirement Plan. No additional Benefit Years shall be credited after December 31, 2010.
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Benefit Years means, except as provided below, the sum of the following:
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