Minimum Benefit definition

Minimum Benefit means the amount of payment, pension or preserved benefit entitlement that is determined to avoid payment of the superannuation guarantee charge.

Minimum Benefit. The value of this contract is at least equal to the minimum under any nonforfeiture law where this contract has been issued.

Minimum Benefit means the benefit described in Section 11.4.

Examples of Minimum Benefit in a sentence

• If the Minimum Benefit Age has not been attained, payments will begin on the Rider Anniversary following the attainment of the Minimum Benefit Age.

• If the Annuitant has not yet attained the Minimum Benefit Age on the Rider Date, the Withdrawal Percentage will be zero until the Rider Anniversary following the Annuitant’s birthday in which they attain the Minimum Benefit Age.

• If the Annuitant has attained the Minimum Benefit Age and a systematic payout option is not active at the time the Policy Value equals zero, a payout will be established.

• If the younger of the Annuitant and the Annuitant’s Spouse has not yet attained the Minimum Benefit Age on the Rider Date, the Withdrawal Percentage will be zero until the Rider Anniversary following the younger of the living spouse’s birthday in which they attain the Minimum Benefit Age.

• The percentage is determined using the Attained Age (age at last birthday) of the younger of the living spouses at the time of the first withdrawal of any amount from the Policy Value taken on or after the Rider Anniversary following the younger of the living spouse’s attainment of the Minimum Benefit Age.

More Definitions of Minimum Benefit

Minimum Benefit means the benefits determined in accordance with section 14A of the Pension Funds Act;

Minimum Benefit means the lowest full monthly amount of SNAP that an eligible one or two person assistance group may receive. By law, this amount is eight per cent of the maximum allotment for an assistance group containing one member, rounded to the nearest dollar.

Minimum Benefit means the minimum benefit calculated under Section 4.7 for a Participant who is not a Grandfathered Participant.

Minimum Benefit means the minimum monthly amount of benefits that one- and two-person households receive. The amount of the minimum benefit is equal to eight percent of the maximum monthly allotment for a one-person household. See 7-F, Exceptions to Benefit Level.

Minimum Benefit means the smallest monthly payment that shall be made as an old age insurance benefit, a disability insurance benefit, or a survivor’s insurance benefit. As of the effective date of this Chapter, the minimum benefit shall be forty-seven dollars and fifty cents (US $47.50) per month; provided, however, the Board may within twenty-four (24)

Minimum Benefit means the benefit determined pursuant to Section 7.4(a).

Minimum Benefit means the minimum amount of benefits issued to one- and two-person households that are eligible for assistance, but whose issuance calculates to less than the federally prescribed minimum allotment.