Benefits Cap definition

Benefits Cap shall have the meaning set forth in Section 9.12.
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Benefits Cap defined as the average FTE allocation required for Benefits Package coverage paid July through September at prior fiscal year Composite Rate for all coverages and costs October through June at current fiscal year Composite Rate.
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Benefits Cap shall have the meaning set forth in Section 4(b).
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Examples of Benefits Cap in a sentence

  • The Benefits Cap is now being applied and those tenants who will be affected have already been identified and are being supported to explore a suitable options.

  • A Benefits Cap Task Force had been established with JobCentre Plus (JCP) officers based at the Civic Centre to offer support.

  • The key elements of reform include: A Total Benefits Cap (TBC) limiting benefits for families to £500 per week, and for single people to £350 per week.

  • However, these tenants need to be aware of any financial constraints which may apply such as the Under Occupation penalty and Benefits Cap.

  • The Council has decided to adopt an affordability cap which recognises the Government’s Universal Credit regime and the associated Benefits Cap.

  • The Welfare Reform Act was passed by Parliament in March 2012 which introduced the concept of a Benefits Cap.

  • In the event that benefit costs as described in Section 9.12 below are below the Benefits Cap (as defined in Section 9.12 below) in a League Year, the difference up to the Benefits Cap will be contributed by the League to a retirement account, if consistent with applicable law.

  • The Private Sector & Prevention Manager confirmed that from current information 462 households have been identified as likely to be affected by the Benefits Cap.

  • In the event that benefit costs as described in this Section 9.12 exceed the Benefits Cap in a League Year, the PWHL may, after discussion with the PWHLPA, amend any or all of the benefits so as to prevent benefits costs under this Article 9 from exceeding the Benefits Cap.

  • The “Bedroom Tax”, changes to disability and health benefits, further reductions to the Benefits Cap, and changes to Council Tax Support arrangements, now mean even the poorest have to meet some of these costs.


More Definitions of Benefits Cap

Benefits Cap has the meaning assigned to that term in Section 4.1 hereof. “Central Expenses” has the meaning assigned to that term in Section 4.2 hereof. “Closing” means the closing of transactions contemplated by this Agreement and the APA as set forth in Section 2.3 hereof. as amended.
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Benefits Cap has the meaning assigned to that term in Section 4.1 hereof. “Central Expenses” has the meaning assigned to that term in Section 4.2 hereof.
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Benefits Cap has the meaning assigned to that term in Section 4.1 hereof.
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Related to Benefits Cap

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Health benefits plan means a benefits plan which pays or

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Fringe benefits means the amount of:

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Pharmacy benefits management means the administration or management of prescription drug

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Compensation Limit means the compensation limit of Section 401(a)(17) of the Code, as adjusted under Section 401(a)(17)(B) of the Code for increases in the cost of living.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Fringe benefit means health insurance, a retirement benefit received under a pension plan or defined contribution plan, a paid vacation day, a paid holiday, sick leave, or any other similar employee benefit provided by an employer.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Pharmacy benefits manager means a person that performs pharmacy benefits management.

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Societal benefits charge means a charge imposed by an electric

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).

  • Final compensation of a member means:

  • Retiree means any person who has begun accruing a retirement