New Factors definition

New Factors has the meaning set forth in Section 3.3(b).
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Examples of New Factors in a sentence

  • Any General Member, whose allowance as of July 1, 2002, is ninety percent (90%) or more using the New Factors may continue to accrue benefits above the ninety percent (90%) cap until December 31, 2002.

  • If the Member selects one of these options, the Member’s Allowance will not be capped, and the Retirement System will refund to the Member, at retirement, any excess contributions the Member made to fund the New Factors.

  • If the Member selects one of these Factors, the Member’s Allowance will not be capped, and the System will refund to the Member, at retirement, any excess contributions the Member made to fund the New Factors.

  • Any General Member who joined the System before July 1, 2002, and reaches the 90% cap by choosing the New Factors, may continue to accrue benefits above the 90% cap until December 31, 2002, at which time the Member’s retirement calculation factor and Creditable Service are capped; the Member’s Final Compensation is not capped.

  • The New Factors will apply to all City employees who join the Retirement System after June 30, 2002, and their Allowances will be capped at 90%.

  • If the Member selects one of these options, the Member’s Allowance will not be capped, and the System will refund to the Member, at retirement, any excess contributions the Member made to fund the New Factors.

  • Any General Member whose Allowance as of July 1, 2002 is 90% or more using the New Factors may continue to accrue benefits above the 90% cap until December 31, 2002.

  • Any General Member who joined the Retirement System before July 1, 2002, and reaches the 90% cap by choosing the New Factors, may continue to accrue benefits above the 90% cap until December 31, 2002, at which time the Member’s Retirement Calculation Factor and Creditable Service are capped; the Member’s Final Compensation is not capped.

  • The New Factors apply to all General Members who join the Retirement System after June 30, 2002, but before July 1, 2009, and theirallowances will be capped at ninety percent (90%) of their Final Compensation.

  • Any General Member who joined the System before July 1, 2002, and reaches the ninety percent (90%) cap by choosing the New Factors, may continue to accrue benefits above the ninety percent (90%) cap until December 31, 2002, at which time the Member’s retirement calculation factor and Creditable Service are capped; the Member’s Final Compensation is not capped.