Pay Credits definition

Pay Credits means the amounts, if any, credited to an Appendix G Member’s Cash Balance Account pursuant to Section III.2 of this Appendix G.
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Pay Credits means the allocations made
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Pay Credits means additions to the Account Balance based on Salary as described in Article IV.C.
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Examples of Pay Credits in a sentence

  • A Member’s PIRP-DC Account is a bookkeeping device to track the notional value of the Member’s Pay Credits and Interest Credits (and his Employer’s liability for such credits).

  • However, a period of unpaid leave of absence during a Plan Year shall not be considered a period of Active Membership for purposes of determining a Member’s Pay Credit for the Plan Year in accordance with the prior sentence (and as a result, the Pay Credit for the Plan Year containing the unpaid leave shall be prorated, or there shall be no Pay Credit, all as necessary to limit Pay Credits to the Member’s period of Active Membership during the Plan Year).

  • Pay Credits and Interest Credits shall be credited to a Member’s PIRP-DC Account as of the Valuation Date to which such credits relate (or, in the case of Pay Credits and Interest Credits that relate to the Member’s final year of Membership, as of the Member’s Distribution Valuation Date) or as soon as administratively practicable thereafter.

  • However, Interest Credits may be provided on the PIRP-DC Account of a Member who is a U.S. Person, but only to the extent the balance in the PIRP-DC Account is derived from Pay Credits that relate to Service completed while the Member was not a U.S. Person (and Interest Credits on such Pay Credits).

  • Any termination indemnity or other payment to the Member by the Employer or PepsiCo Organization related to the Member’s termination of employment, to the extent the Vice President determines that the payment is reasonably related to Service that is taken into account in providing Pay Credits under the DC Program.

  • Consistent with the foregoing, appropriate reductions may be made in the Pay Credits and Interest Credits that otherwise would be provided to the Member under Sections 4.01 and 4.02, the balance in the Member’s PIRP-DC Account under Article V, or the Member’s distributions under Article VI.

  • Subir contends, in his affidavit, that he has no affiliation with the Association and that he purchased the Premises for the purpose of creating a temple for the Bangladesh Buddhist Center of America (“BBC”).

  • Whenever Employment Insurance Forms, Vacation Pay and Statutory Holiday Pay Credits are not given employees at the time of termination, they shall be sent by the Employer to the employee by registered letter to their last known address within forty eight (48) hours from the time of termination, unless termination is voluntary, in which case they will receive them by their next regular pay period.

  • If a Member who has completed at least five years of Creditable Service and who is an Employee suffers a Disability prior to termination, and, for reasons thereof, the Member's status as an Employee ceases, then such Member shall continue to be credited with Annual Pay Credits and Interest Credits during the period of such Disability as described below and as provided in Section 4.1 as if the individual were still actively employed.

  • In determining a Participant’s Qualified Retirement Benefit, the Participant’s Cash Account Balance shall not be credited with Pay Credits for any period of time on or after October 1, 2001, and in the case of a Participant who is a Grandfathered Participant, the Grandfathered Benefit shall be calculated considering the Participant’s Final Average Earnings, Credited Service (not in excess of 20 years) and Social Security offset as of October 1, 2001.


More Definitions of Pay Credits

Pay Credits means amounts credited to a Participant's Account Balance each Payday, based on his or her Covered Compensation paid on such Payday and paid for periods he or she was an
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Pay Credits means amounts credited to a Participant’s Account in accordance with Section 3.2.
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Pay Credits means dollar credits, based on the Employee's Monthly Compensation and Pay Credit Percentage, that may be credited on a monthly basis to an Employee's Cash Balance Account as described in Section 6A.1(a)(ii).
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Pay Credits means the amounts, if any, credited to an Appendix X Participant’s Cash Balance Account pursuant to Section III.2 of this Appendix X.
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Related to Pay Credits

  • Service Credits means the service credits payable to the Purchaser by the Service Provider in the event that the Service Levels are not met and identified as service credits in the Pricing Schedule.

  • Credits means the Federal and State Housing Tax Credit program.

  • Emission Reduction Credits means emission reductions that have been authorized by a local air pollution control district pursuant to California Health and Safety Code, Division 26 Air Resources, Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Service benefit means the credit toward retirement benefits as determined by the

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Employer Contributions means all amounts paid into ASRS by an