Maximum Compensation Limitation definition
Maximum Compensation Limitation means, effective on or after January 1, 1989, and before January 1, 1994, $200,000 per year. As of January 1 of each calendar year on and after January 1, 1990, and before January 1, 1994, the Maximum Compensation Limitation as determined by the Commissioner of Internal Revenue for the calendar year shall become effective as the Maximum Compensation Limitation taken into account for Plan purposes for the Plan Year beginning within that calendar year in lieu of the $200,000 limitation set forth above.
Maximum Compensation Limitation means $265,000 as of the Effective Date, adjusted thereafter for cost-of-living increases in accordance with Code Section 401(a)(17)(B). Annual Compensation means compensation during the Plan Year or such other consecutive 12-month period over which compensation is otherwise determined under the Plan (the determination period). The cost-of-living adjustment in effect for a calendar year applies to annual compensation for the determination period that begins with or within such calendar year.
Maximum Compensation Limitation means $150,000 per year, as indexed from time to time. Effective for Plan Years beginning on or after January 1, 2002, the Maximum Compensation Limitation shall mean $200,000 per year, as indexed from time to time.
More Definitions of Maximum Compensation Limitation
Maximum Compensation Limitation means the maximum limitation on compensation pursuant to Section 1.10 of the Savings Plan, or any successor provision thereto.
Maximum Compensation Limitation means, effective on or after January 1, 1989, and before January 1, 1994, $200,000 per year. As of January
Maximum Compensation Limitation means, commencing January 1, 1994, $150,000 per year, adjusted from time to time for the cost of living in accordance with Code Section 401(a)(17)(B). If for any calendar year after 1994, the cost-of-living adjustment described in the following sentence is equal to or greater than $10,000, then the Maximum Compensation Limitation (as previously adjusted hereunder) for any Plan Year beginning in any subsequent calendar year shall be increased by the amount of such cost-of-living adjustment, rounded to the next-lowest multiple of $10,000. The cost-of-living adjustment shall equal the excess of (i) $150,000 increased by the adjustment made under Section 415(d) of the Code for the calendar year, except that the base period for purposes of Section 415(d)(1)(A) of the Code shall be the calendar quarter beginning October 1, 1993, over (ii) the Maximum Compensation Limitation in effect for the Plan Year beginning in the calendar year.