Examples of Permanent Policy in a sentence
The Plan Administrator shall first determine whether the Participant's Policy is then projected to qualify as a Permanent Policy if the Total Policy Premium is paid each year for the remaining scheduled Premium Payment Years.
The determination by the Plan Administrator that the Policy will qualify as a Permanent Policy with no further Employer Premium payments.
The Coverage Amount shall be the highest amount such that the Policy will qualify as a Permanent Policy if the Total Policy Premium is paid for each year that is a scheduled Premium Payment Year.
In the event tax law limits preclude the Employer from qualifying a Policy as a Permanent Policy by the end of the last scheduled Premium Payment Year, then the Employer's obligation to pay premiums under Section 5.02 and 5.03 (and make additional Employer payments under Section 5.04) shall be extended until projections indicate that the Policy qualifies as a Permanent Policy.
Such withdrawal and release shall be made within ninety (90) days after the end of the first Policy Year as of the end of which: (1) the Participant's Policy would qualify as a Permanent Policy following such withdrawal by the Employer; and, (2) the Participant's Policy would not constitute a Modified Endowment Contract (as such term is defined in Section 7702A of the Internal Revenue Code) following such withdrawal.
As Tun mentioned, it is the efforts of our founding fathers, Tunku Abdul Rahman, Tan Cheng Lock and Tun Sambanthan that has shaped this country that we call home.
Agency shall ensure the food service is in conformance with its Permanent Agreement and Permanent Policy Statement.
If the Policy is projected to qualify as a Permanent Policy, no increased Employer Premium payment shall be required for such Premium Payment Year.
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Permanent Policy: The total contribution will be based on normal cost plus a 14-year amortization of unfunded actuarial accrued liabilities.