Contractual Additional Pension Contributions Member definition

Contractual Additional Pension Contributions Member means a Member who —
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Examples of Contractual Additional Pension Contributions Member in a sentence

  • A Contractual Additional Pension Contributions Member must take his or her pension benefits under Rule 31 at the same time as he or she takes the Additional Pension Benefits arising from his or her Contractual Additional Pension Contributions if they are in respect of the same Service.

  • If a Member ceases to be a Contractual Additional Pension Contributions Member, he or she may not be re-admitted to Contractual Additional Pension Contributions Membership.

  • If a Contractual Additional Pension Contributions Member dies after the end of the period of 12 months beginning with the Contractual Additional Pensions Contributions Start Date but before the end of the Contractual Additional Pension Contributions End Date any benefits are to be calculated as if all contributions that would have fallen due after the date of death had been made.

  • If a Contractual Additional Pension Contributions Member exercises any of the options under Rule 27.1, the Member’s Contractual Additional Pension Contributions is to be deducted from the Member’s Pensionable Pay by his or her Employing Authority, and paid into the general revenue of the Island in accordance with Rule 26.

  • A Contractual Additional Pension Contributions Member may cease being a Contractual Additional Pension Contributions Member by giving written notice to that effect to the Public Sector Pensions Authority.

  • If a Contractual Additional Pension Contributions Member elects to take his or her Additional Pension Benefits earlier or later than the age notified to the Member by the Public Sector Pensions Authority on the Member’s Joining Date, the benefits are to be reduced or increased as applicable by the Public Sector Pensions Authority, after receiving the advice of the Scheme Actuary.

  • If a Contractual Additional Pension Contributions Member to whom Rule 27.15 applies does not elect an option under that Rule, the Public Sector Pensions Authority must administer the Member’s benefits in line with Rule 27.15(b)(i) until it is receives a written notice from the Member to do otherwise.

  • If the Public Sector Pensions Authority is satisfied that a Contractual Additional Pension Contributions Member meets the Lower Tier Ill-Health Criteria under Rule 37.1 his or her Additional Pension Benefits are to be awarded by calculating Service on a pro-rata basis but using the accrual rate applicable for the age at which the member had contracted to take his or her benefits.

  • If a Contractual Additional Pension Contributions Member leaves Service and Rule 22 applies, the Public Sector Pensions Authority must establish a record in respect of the Member’s Contractual Additional Pension Contributions that is to be increased in line with the Index before any pension under Rule 31 is paid.

  • Subject to Rule 31.3A a Contractual Additional Pension Contributions Member must take all of the benefits arising from his or her Contractual Additional Pension Contributions in respect of the Active Membership to which the Contractual Additional Pension Contributions relate at the same time as the Member starts to receive his or her annual pension under this Rule 31.

Related to Contractual Additional Pension Contributions Member

  • Catch-Up Contributions means Salary Reduction 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 over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Employer Contributions means all amounts paid into ASRS by an

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Accumulated contributions means the sum of all

  • Annual Additions means the sum of the following amounts credited to a Participant for a Limitation Year:

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

  • Member contributions means all amounts paid to ASRS by a member.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • Company Matching Contributions means the Company contributions described in Section 3.4.

  • Discretionary Contribution means the contribution made by the Employer on behalf of a Participant as described in Section 4.4(b).

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Excess Contribution means a contribution that exceeds the

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Participant Contributions means contributions made by the Participant pursuant to an executed Pay Reduction Agreement subject to the Participant Contribution limits contained in Article III.