Contribution Offset definition

Contribution Offset shall equal the Account Balance, determined as of the date of commencement of payment of the Supplemental Retirement Benefit, converted into an actuarial equivalent life annuity annual benefit commencing on the date of commencement of payment of the Supplemental Retirement Benefit. For purposes of this paragraph, the actuarial equivalent shall be determined using an annual interest rate equal to 6% and using the RP 2000 (unisex) mortality table with improvements to 2025.
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Contribution Offset means, in respect of an Active Member,
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Contribution Offset has the meaning given thereto in Section 3.3.
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Examples of Contribution Offset in a sentence

  • Effective July 1, 2012: Retirement Contribution Offset – Tier A/1 Union Code Employees who have less than 5 yrs.

  • Effective July 1, 2012 Retirement Contribution Offset – Tier A/1 Union Code Employees who have less than 5 yrs.

  • CalPERS Contribution Offset – Effective on the first date of the pay period following Board of Supervisors implementation of these terms and conditions of employment (October 26, 2017), all employees in the unit in an Offset (OS) classification shall be moved to the equivalent non-OS classification.

  • Effective July 1, 2012: Retirement Contribution Offset – Tier A/1 Association Code Employees who have less than 5 yrs.

  • OTS established a prepaid asset representing the Future Employer Contribution Offset, and adjusted its balance and the corresponding expense annually according to actuarial valuation reports prepared by the Plan Administrator.

  • This change was due to the FIRF plan’s status as a multiemployer plan and as such, the inherent uncertainty of the OTS’ portion of the Future Employer Contribution Offset.

  • Employees in job codes designated as CEM, MA, SD2, and NM are eligible for basic and management benefits in accordance with the conditions set forth in the following sections: 5.1.6 Flexible Benefits Plan 5.3 Basic Life Insurance 5.4 Long Term Disability 5.6 Retirement Contribution Offset 5.7 Payment in Lieu of Retirement Contribution Offset 5.9 Holidays 5.10 Suggestion Awards Program 5.11 Employee Recognition and Awards Program (f) Non-Management (NMG) Benefit Program.

  • All premiums required by the State for SDI shall be automatically deducted from the pay of covered employees by the Auditor and Controller and forwarded to the State pursuant to the rules and regulations of the State of California.5.1.6 Flexible Benefits Plan 5.3 Basic Life Insurance 5.6 Retirement Contribution Offset 5.7 Payment in Lieu of Retirement Contribution Offset 5.9 Holidays 5.10 5.11 Suggestion Awards Program Employee Recognitions and Awards Program (j) Unclassified (UCL) Benefit Program.

  • We would urge the Expert Committee to take note of several problems associated with the administration of such a registry.

  • It was moved by Mr. Petropoulos, seconded by Mr. Matson, and unanimously carried, to convene in closed session.The Board convened in closed session at 12:06 p.m. The Board reconvened in open session at 12:41 p.m. Referral to Legislative Committee regarding Member Contribution Offset for Duty Disability Retirement Conversion to Service Retirement.

Related to Contribution Offset

  • 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:

  • 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.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Additional contributions means contributions made by a member of a defined benefit plan to

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Nonelective Contribution means an amount contributed by a participating

  • Contribution Percentage means the percentage obtained by dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by (y) the aggregate Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or any guaranteed obligations arising under any guaranty of any Permitted Additional Indebtedness) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 17 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 18, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 18, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the Termination Date. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Additional Contribution Each Member's pro-rata portion of a Required Amount, determined by multiplying the Required Amount by each Member's Interest.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • 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.

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1.

  • Accumulated contributions means the sum of all

  • Contributions means the payroll deductions and other additional payments specifically provided for in the Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld during the Offering through payroll deductions.