Nonforfeiture rate definition

Nonforfeiture rate means the interest rate used in determining the minimum nonforfeiture amount. This will be determined at issue (initial nonforfeiture rate) and, if applicable, each subsequent redetermination period (redetermination nonforfeiture rate).
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Nonforfeiture rate means the interest rate established in KRS 304.15-365(5).
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Nonforfeiture rate. Your Contract's nonforfeiture interest rates are annual compound interest rates, determined for each calendar year, that equal the interest rates defined below, but not less than 1% nor more than 3%: The average of the five-year Constant Maturity Treasury rates reported by the Federal Reserve for the month of October in the prior calendar year, reduced by 125 basis points and rounded to the nearest 1/20th of one percent. DP-BSHARE-12 3a FREE WITHDRAWAL AMOUNT (FWA): The amount that can be withdrawn in any Contract Year without incurring a Contingent Deferred Sales Charge (CDSC). This equals the greater of (i) 100% of Remaining Gross Premiums (RGP) made more than [7] year(s) ago plus the greater of (A) or (B), or (ii) (C) where:
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Examples of Nonforfeiture rate in a sentence

  • Section 5 Redetermination Method Section 6 Nonforfeiture rate for periodic premiums Section 7 Equity Indexed Benefits Section 8 Effective Date Section 1 Authority This regulation is promulgated by the Commissioner of Insurance pursuant to Sections [insert applicable references to Section 4D of the Standard Nonforfeiture Law for Individual Deferred Annuities] of the [insert jurisdiction] Insurance Laws.

Related to Nonforfeiture rate

  • Average final compensation means the average annual creditable compensation of a member during

  • 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.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Total Compensation means the cash and noncash dollar value earned by the executive during the Subcontractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):

  • Final Average Earnings means (a) divided by (b) as follows:

  • Final average salary means whichever of the following is greater: