Initial benefit definition

Initial benefit means the retirement allowance as calculated to be effective on the date of the member's retirement. It takes into account any reductions based on options selected by the member under Section 4.36.260. It shall also mean payments of accumulated contributions made under Subsection 4.36.270 B, and payments received by a beneficiary as a result of an option selected under Section 4.36.260.
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Initial benefit. Means the first monthly retirement benefit payable to a retiree or beneficiary in accordance with the laws governing the determination of such benefit at time of retirement or death.
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Initial benefit means the difference between the sale price and the unrestricted fair market value of the Affordable Unit at the time of purchase.
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Examples of Initial benefit in a sentence

  • Initial benefit payment elections and subsequent changes will be effective only if made on forms provided or in the manner prescribed by the Plan Administrator and received by the date determined by the Plan Administrator.

  • Initial benefit payments and increases in original benefits are paid by the Plan and the continuance of such benefits is subject, of course, to the continuance of the Plan and the adequacy of Pension Plan assets.

  • Initial benefit will be derived from the immediate creation of jobs and income from the construction of the Project (see “Interim construction benefits” below).

  • Initial benefit comes from reduction in network costs/response, smaller footprint, reduction in energy, reduction in TCA, reduction in people costs.• URM – Unified Resource Manager.

  • Initial benefit adjustment is the final milestone of the benefit offset adjustment process.

  • Initial benefit calculations indicate that there are small benefits in estimated fuel and level-off savings.

  • Initial benefit coverage for you will start at your effective date as determined by the rules of benefit eligibility.

  • Source: Riboud, Sánchez-Pármo, and Silva-Jáuregui 2002.b Source: Employment in Europe 2003.c Initial benefit level divided by previous earned income.

  • Institutional context in different countries: unemployment protection Country a Initial benefit level divided by previous earned income.

  • Initial benefit assessment can be performed by theinstitution or the Kroger Specialty Pharmacy.


More Definitions of Initial benefit

Initial benefit means the first monthly benefit to a retiree or beneficiaryBeneficiary in accordance
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Initial benefit means the amount of savings the Company or the Sublessee received through the Agency, in the form of exemptions from sales tax.
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Related to Initial benefit

  • Special benefit means, for purposes of a property-based district, a particular and distinct benefit over and above general benefits conferred on real property located in a district or to the public at large. Special benefit includes incidental or collateral effects that arise from the improvements, maintenance, or activities of property-based districts even if those incidental or collateral effects benefit property or persons not assessed. Special benefit excludes general enhancement of property value.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • material benefit means a benefit which may not be financial but has a monetary value;

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • Additional Benefits means those benefits in addition to the rights and remedies available under the Australian Consumer Law.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Projected Annual Benefit means the Annual Benefit as defined in subsection (2) above, to which the Participant would be entitled under the terms of the Plan assuming: (A) the Participant will continue employment until the Normal Retirement Date under the Plan (or current date,if later) and (B) the Participant's Compensation for the current Limitation Year and all other relevant factors used to determine benefits under the Plan will remain constant for all future Limitation Years.

  • SERP Benefit means the benefit described in Section 5.1.

  • Termination Benefit means the benefit set forth in Article 7.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Monthly Benefit means the monthly amount payable by Lincoln to you if you are Disabled or Partially Disabled.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

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

  • Medical Benefits means the monthly fair market value of benefits provided to the Employee and the Employee’s dependents under the major medical, dental and vision benefit plans sponsored and maintained by the Company, at the level of coverage in effect for such persons immediately prior to the Employee’s termination of employment date. The “monthly fair market value” of such benefits shall be equal to the monthly cost as if such persons elected COBRA continuation coverage at such time at their own expense.

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

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Change in Control Benefits means the following benefits: