Cash Balance Formula definition

Cash Balance Formula means shall mean the benefit formula described in Section 4.1(c).
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Cash Balance Formula means the formula under the Retirement Plan by which Participants accrue benefits through credits to his or her Cash Balance Account (as defined in the Retirement Plan). The Cash Balance Formula is effective for Plan Years commencing after December 31, 2000.
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Cash Balance Formula means the formula under the Retirement Plan by which Participants accrue benefits through credits to his or her Cash Balance Account (as defined in the Retirement Plan). The Cash Balance Formula is effective beginning July 1, 1997.
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Examples of Cash Balance Formula in a sentence

  • If the Participant continues to perform services, then any additional Principal Credits and Interest credits under the Cash Balance Formula will be credited to a new Hypothetical Account Balance which will be used to provide additional payments to the Participant under the terms of Section 5.1(a).

  • If a Pre-approved Plan contains an ESOP or a Cash Balance Formula, the plan also must include the provisions set forth in section 5.17 or 5.18, as applicable.

  • If benefits are based on a Cash Balance Formula then the following provisions apply.

  • Except as provided in section 5.18(2), Adopting Employers of plans that contain a Cash Balance Formula with a structure of Principal Credits that increase with age, service, or any other measure during a participant’s employment may not rely on an Opinion Letter with respect to the requirements of § 411(b)(1).

  • See section 4.09.).07 A Nonstandardized Plan that contains a Cash Balance Formula may now permit the rate used to determine an Interest Credit to be based on the actual return on plan assets.

  • The data in Table 4.4 suggests that there is a high degree of agreement among the different groups of samples concerning the types of violence perceived to be most prevalent.

  • If this Plan includes a Cash Balance Formula, then with respect to the portion of the Participant's Accrued Benefit attributable to the Cash Benefit Formula, the benefits provided by such Cash Benefit Formula under this Plan shall be no less than the amount needed to provide an Accrued Benefit (on the Annuity Starting Date) equal to the Actuarial Equivalent, at Normal Retirement Age, of 0.5% of Compensation for each Year of Credited Service under such formula.

  • Corresponds to half of the forecast budgetary surplus, in accordance with the government’s policy of allocating half of budgetary surpluses to reducing the debt and the other half to easing the tax burden, by giving priority to the gradual elimination of the health contribution.E.9❑ Gross debt burden Between 1998 and 2009, the government’s gross-debt-to-GDP ratio fell significantly.

  • The administration must demonstrate clearly to Congress and re- settlement communities how federal resources will be better matched with refugee admissions.

  • Notwithstanding the foregoing, a Member whose Retirement Benefit is determined under the Cash Balance Formula may receive payment of his vested Retirement Benefit in the form of a lump sum payment pursuant to Section 6.3(b).


More Definitions of Cash Balance Formula

Cash Balance Formula means any formula elected in the volume submitter Adoption Agreement for accruing benefits that is made by reference to the accumulation of Principal Credits and Interest Credits to a Hypothetical Account Balance maintained for a Participant.
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Cash Balance Formula means the cash balance formula, including minimum and supplemental amounts, used to determine a Participant's Accrued Benefit pursuant to Paragraph 5.3.
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Cash Balance Formula means the cash balance benefit formula used to calculate benefits under the Retirement Plan effective for Plan Years commencing after December 31, 2000.
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Cash Balance Formula means a formula under which hypothetical amounts — Pension Credits based on an applicable Tier Level and Interest Credits based on a stated index — are credited to a Participant’s hypothetical account in a defined benefit plan.
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Related to Cash Balance Formula

  • Cash Balance means, at any date of determination, the unencumbered and otherwise unrestricted cash and Cash Equivalents of the NCLC Group.

  • Cash Balances means cash in hand or credited to any account with a financial institution and securities which are readily convertible into cash;

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000,(ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • 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.

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

  • Actuarial equivalent means a benefit of equal value when

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash, cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by (whether directly or indirectly), credited to the account of, or otherwise reflected as an asset on the balance sheet of, the Parent MLP and its Consolidated Subsidiaries.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;