Credited Interest Rate definition

Credited Interest Rate means, for each Plan Year, the rate of return equal to Moody's Monthly Average of Yields of Aa Corporate Bonds, as published by Moody's Investors Service, Inc., for the month of July immediately preceding such Plan Year. If such rate (or any alternative rate described in this sentence) is at any time no longer available, the Plan Administrator shall designate an alternative rate which, in the Plan Administrator's reasonable judgment, is generally comparable to the rate described in the preceding sentence, and such alternative rate shall thereafter be the Credited Interest Rate.

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Credited Interest Rate. The interest rate credited to the Certificate Owner's Account by the Company for any given Guarantee Period in the MVA Account or the Fixed Account. The Credited Interest Rates for the available Guarantee Periods for the MVA Account and the Fixed Account are shown on the Certificate Schedule.

Credited Interest Rate means the annual equivalent of the interest rate credited to the Guaranteed Principal Account.

Examples of Credited Interest Rate in a sentence

The Credited Interest Rate of this Deposit may be higher or lower than the Credited Interest Rate of any other Deposit.
The Credited Interest Rate of this new Certificate may be higher or lower than the Credited Interest Rate of any other Certificate or Deposit.
The Credited Interest Rate will be compounded daily, and on an annual effective basis will not be less than the Guaranteed Interest Rate.
Subject to the provisions on Application of Certificate on Partial Surrender, Surrender, or Retirement, a Deposit to the Guaranteed Certificate Fund will earn a Credited Interest Rate for the Certificate's Interest Guarantee Period.
If such Modification is made, the Group Policyholder in respect of the Participant may, within 30 days of notification, by Written Request Elect the Transfer or Surrender of any or all of these amounts without incurring the Contingent Deferred Sales Charge, and interest will be applied to the date of Transfer or Surrender at the Credited Interest Rate applicable prior to the date of Modification.
The Credited Interest Rate may change daily but on an annual effective basis will not be less than the Guaranteed Interest Rate.
The amount of the Contract Payment will equal the amount scheduled to be paid on the scheduled Contract Payment Date pursuant to Schedule A plus interest thereon at the Credited Interest Rate on the Guaranteed Fund from the date of the scheduled Contract Payment Date to the actual date of payment.
This rate will remain in effect for the entire Guaranteed Credited Interest Rate Period shown on the Contract Schedule.
Redemption Or If, at any time, the Credited Interest Rate falls Maturity Without below the Specified Interest Rate, this contract may Charge be redeemed or matured without any deduction for sales charges.
A Deposit to the Guaranteed Certificate Fund which remains in the Guaranteed Certificate Fund until the Certificate Maturity Date will earn a Credited Interest Rate for the Certificate's Interest Guarantee Period.

More Definitions of Credited Interest Rate

Credited Interest Rate means the interest rate declared by the Board at the beginning of each plan year pursuant to its power in section 5(e):

Credited Interest Rate. The interest rate credited to the Contract by the Company for any given Guarantee Period in the MVA Account and the Fixed Account. The Credited Interest Rates for the available Guarantee Periods for the MVA Account and the Fixed Account are shown on the Contract Schedule. ELIGIBLE FUND: An investment entity that is made available for this Contract. FIXED ACCOUNT: An investment option within the General Account. FIXED ANNUITY: A series of payments made during the Annuity Period which are guaranteed as to dollar amount by the Company. GENERAL ACCOUNT: The Company's general investment account which contains all the assets of the Company except for the Variable Account and other segregated asset accounts. GUARANTEE PERIOD: The period for which the credited Interest ▇▇▇▇ is credited in the MVA Account. Each deposit or transfer to the MVA Account creates one or more new Guarantee Period(s). The Guarantee periods selected by the Owner are shown on the Contract Schedule. MARKET VALUE ADJUSTMENT: An adjustment to the amount withdrawn or transferred from an MVA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period. MVA ACCOUNT: A separate account which provides investment options where the Company guarantees the rate of interest for a specified Guarantee Period and where withdrawals or transfers may be subject to a Market Value Adjustment.

Credited Interest Rate means the rate of interest specified in Schedule A.

Credited Interest Rate. The interest rate credited to the Contract by the Company for any given Guarantee Period in the MVA Account or the Fixed Account. The Credited Interest Rates for the available Guarantee Periods for the Fixed Account and the MVA Account are shown on the Contract Schedule. EFFECTIVE DATE: The Effective Date of a Guarantee Period with a Credited Interest Rate. ELIGIBLE FUND: An investment entity shown on the Contract Schedule. FIXED ACCOUNT: An investment option within the General Account. FIXED ANNUITY: A series of payments made during the Annuity Period which are guaranteed as to dollar amount by the Company. GENERAL ACCOUNT: The Company's general investment account which contains all the assets of the Company with the exception of the Variable Account and other segregated asset accounts. GUARANTEE PERIOD: The period for which the Credited Interest Rate is credited in either the MVA Account or the Fixed Account. Each deposit or transfer to the MVA Account creates one or more new Guarantee Period(s). The Guarantee Periods selected by the Owner are shown on the Contract Schedule. MARKET VALUE ADJUSTMENT: An adjustment to the amount withdrawn or transferred from an MVA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period. MVA ACCOUNT: A separate account which provides investment options where the Company guarantees the rate of interest for a specified Guarantee Period and where withdrawals or transfers may be subject to a Market Value Adjustment. NET PURCHASE PAYMENT: A Purchase Payment less any applicable Premium Tax.