Option 3 definition

Option 3. [ ] A Participant satisfies the Plan's Early Retirement Age conditions by attaining age ________ (not less than 55) and completing ________ Years of Vesting Service.

Option 3. [ ] Yes, with respect to both Elective Deferrals and Nondeductible Employee Contributions.

Option 3. [_] The later of age ________ (not to exceed 65) or the ________ (not to exceed 5th) anniversary of the first day of the first Plan Year in which the Participant commenced participation in the Plan. NOTE: If no option is selected, Option 1 will be deemed to be selected. Part B. Early Retirement Age (Choose one option):

Examples of Option 3 in a sentence

• Divisible by attendance of eligible team members, Option 3: Should the team wish to meet on full days, stipend money can instead be used to pay for substitutes.

• CHART A CIGNA OAP (Option 1) CIGNA OAPIN (Option 2) and Xxxxxx HMO (Option 3) CY23 BCPS Years of Service CY23 20.0% 10 25.0% 22.5% 11 27.5% 25.0% 12 30.0% 27.5% 13 32.5% 30.0% 14 35.0% 32.5% 15 37.5% 35.0% 16 40.0% 37.5% 17 42.5% 40.0% 18 45.0% 42.5% 19 47.5% 45.0% 20 50.4% 47.5% 21 53.3% 50.0% 22 56.2% 52.5% 23 59.1% 55.0% 24 62.0% 58.3% 25 65.3% 61.6% 26 68.6% 64.9% 27 71.9% 68.2% 28 75.2% 71.5% 29 80.0% 75.0% 30 85.0% CHART B Only for Retirees age 65 or older Years of Service Option 4A CIGNA Med.

• Prior to the beginning of the 2013-2014 school year, all District-authorized charter schools, other than those that had previously executed an Option 3 Memorandum of Understanding (“MOU”), were required to execute a new MOU setting forth the LAUSD SELPA option election for the remainder of the charter petition term.

• Option #3 – The parents/guardians pay on the 5th of the month in the school office by credit card.

• Annuity Option 3 (Life Annuity with 10 Years of Annuity Payments Guaranteed), Option 5 (Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed) and Option 6 (Guaranteed Payment Period) will be available only if the guaranteed payment period is not greater than the life expectancy of the Annuitant at the time the option becomes effective.

More Definitions of Option 3

Option 3. [ ] As of the first day of any quarter.

Option 3. [ ] Such amount, if any, as determined by the Employer in its sole discretion, equal to that percentage of the Elective Deferrals (and/or Nondeductible Employee Contribution, if applicable) of each Contributing Participant entitled thereto which would be sufficient to cause the Plan to satisfy the Actual Contribution Percentage tests (described in Section 11.402 of the Plan) for the Plan Year.

Option 3. [X] Last Day Requirement: The Participant is an Employee of the Employer on the last day of the Plan Year. However, this condition will be waived for the following reasons (Check at least one): [X] The Contributing Participant's Death. [X] The Contributing Participant's Termination of Employment after having incurred a Disability. [X] The Contributing Participant's Termination of Employment after having reached Normal Retirement Age. [ ] This condition will not be waived.

Option 3. [ ] 415 safe-harbor compensation.

Option 3. [X] Such amount, if any, equal to that percentage of each Contributing Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable) which the Employer, in its sole discretion, determines from year to year.

Option 3. [ ] Applied first to the payment of the Plan's administrative expenses and any excess applied to reduce Employer Profit Sharing Contributions (Choose one):

Option 3. [ ] Applied first to the payment of the Plan's administrative expenses and any excess applied to reduce Matching Contributions (Choose one):