Premium Payment Year definition

Premium Payment Year means the plan year for which the premium is being paid. For example, since this document relates to premium filings for plan years beginning in 2018, all references to “Premium Payment Year” relate to plan years beginning in 2018.
Premium Payment Year means the plan year for which the premium is being paid.
Premium Payment Year means the plan year for which the premium is being paid. “Premium Regulations” means PBGC’s regulations on Premium Rates and Payment of

Examples of Premium Payment Year in a sentence

  • A Participant shall pay the Participant Premium for each Policy Year which is a Premium Payment Year for the Participant.

  • The Employer shall pay the Employer Premium for a Participant's Policy within thirty (30) days of the beginning of each Policy Year which is a Premium Payment Year.

  • If the plan has had one or more periods of coverage, report the earliest date in the Premium Payment Year when the plan was covered under Title IV — not the date when the plan became covered in a prior year.

  • The Employer may, but shall not be required to, make additional premium payments with respect to a Participant's Policy after the last Premium Payment Year.

  • However, the Employer Premium payable under Section 5.02 shall not be reduced to an amount that is less than the amount which would have been payable by the Employer for a Premium Payment Year without regard to this Section 5.03.

  • 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.

  • Once an election is made, it remains in effect for all subsequent plan years unless and until it is subsequently revoked.You may revoke a prior election only if the Premium Payment Year begins at least five years after the beginning of the plan year for which the election was first applicable.

  • Measurement dateUVBs are measured on the funding valuation date (i.e., the measurement date for determining the minimum required contribution) for the applicable plan year (i.e., either the Premium Payment Year or the Lookback Year, depending on whether the Lookback Rule applies).

  • If, as of the beginning of the Premium Payment Year, participation is limited to participants who were covered by the plan as of a specified date (i.e., the plan is closed to new entrants), enter the date the plan became closed to new entrants.

  • See Appendix 1 for more information about these terms.▪ Standard termination: closing out in current year – Your plan qualifies for this exemption if it makes a final distribution of assets in a standard termination during the Premium Payment Year unless it engaged in a non-De Minimis Spinoff in the same Premium Payment YearYou may claim this exemption in anticipation of a full distribution by plan year-end even if that hasn’t happened by the time you submit the filing.


More Definitions of Premium Payment Year

Premium Payment Year means the plan year for which the premium is being paid. “Premium Regulations” means PBGC’s regulations on Premium Rates and Payment ofPremiums (29 CFR Parts 4006 and 4007). The premium filing procedures (including the My PAA electronic filing application, paper instructions, and forms) are prescribed under and implement the Premium Regulations.
Premium Payment Year means the year for which the Basic Premium and UDSC Premium (if applicable) have been paid, and such period shall count as from the Policy Date with respect to Basic Premium, and from the Commencement Date with respect to the Unit Deducting Supplementary Contracts. Any period of premium holiday will be excluded from the counting of Premium Payment Year.
Premium Payment Year means, with respect to a Policy, a year listed as a Premium Payment Year for the Policy in the Agreement.

Related to Premium Payment Year

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Agreement Year means a period of 12 months beginning on the Effective Date and each subsequent anniversary thereof.

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;

  • Current year means the financial year, which has already commenced, but not yet ended;

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Premium Paying Term means the period as stated in the Policy Schedule, in years, over which Premiums are payable;