Prescribed Reduction definition

Prescribed Reduction means a reduction required by the Income Tax Act to a Member’s Pension payable at her Normal Retirement Date. The reduction shall be at least ¼ of 1% for each complete month by which the Pension commencement date precedes the earliest of
Sample 1Sample 2Sample 3
Prescribed Reduction means the reduction in the amount of Normal Retirement Date pension of at least 1/4 of 1% for each complete month by which the early pension commencement date precedes the earliest of
Sample 1
Prescribed Reduction means 100% less ¼ of 1% for each complete month by which the early pension commencement date precedes the earliest of:
Sample 1

Examples of Prescribed Reduction in a sentence

  • Provided however, that the pension payable under Section 7.02 (1) or 7.02 (2) shall not be greater than the pension calculated in accordance with Section 7.01 reduced by the Prescribed Reduction.

  • Notwithstanding this Section B3.02, where the conditions for the application of the Prescribed Reduction, as defined in the Master Text and as described therein apply, the early retirement pension paid under this Section B3.02 shall be reduced by the Prescribed Reduction.

  • Notwithstanding the above, the amount by which the pension is reduced under this section shall be at least equal to the applicable Prescribed Reduction.

Related to Prescribed Reduction

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • prescribed amount means $10 000 or such other amount as may be prescribed.

  • Proposed Reduction Date has the meaning set forth in Section 1.3.

  • prescribed fee means a fee determined by the Council by resolution in terms of section 10G(7)(a)(ii) of the Local Government Transition Act, 1993 (Act No. 209 of 1993), or any other applicable legislation;

  • Waste reduction , or “pollution prevention” means the practice of minimizing the generation of waste at the source and, when wastes cannot be prevented, utilizing environmentally sound on-site or off-site reuse and recycling. The term includes equipment or technology modifications, process or procedure modifications, product reformulation or redesign, and raw material substitutions. Waste treatment, control, management, and disposal are not considered pollution prevention, per the definitions under Part 143, Waste Minimization, of the Natural Resources and Environmental Protection Act (NREPA), 1994 PA 451, as amended.

  • Prescribed Rate means the rate of 4% above The Royal Bank of Scotland plc base rate from time to time in force.

  • Relief Act Reduction With respect to any Mortgage Loan as to which there has been a reduction in the amount of the interest collectible thereon as a result of the application of the Servicemembers Civil Relief Act, any amount by which interest collectible on such Mortgage Loan for the Due Date in the related Due Period is less than the interest accrued thereon for the applicable one-month period at the Mortgage Interest Rate without giving effect to such reduction.

  • Source reduction means any practice that reduces the amount of any hazardous substance, pollutant, or contaminant entering any waste stream or otherwise released into the environment prior to recycling, energy recovery, treatment, or disposal.

  • Relief Act Reductions With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.

  • Reduction in Force means abolition of positions in an agency or part of an agency and the corresponding nondisciplinary removal of affected employees from such positions through separation from employment or through displacement to other positions.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • prescribed period means 14 days;

  • Prescribed Limit means 10% of the issued ordinary share capital of the Company as at the date of passing of this resolution unless the Company has effected a reduction of the share capital of the Company, at any time during the Relevant Period, in which event the issued ordinary share capital of the Company shall be taken to be the amount of the issued ordinary share capital of the Company as altered;

  • reduction week means a period of seven consecutive days beginning with a Monday and ending with a Sunday;

  • Reduction means measures designed to reduce or eliminate human exposure to lead-based paint hazards through methods including interim controls and abatement.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Prescribed Notice means 28 days or any shorter period of notice for a meeting of members of the Company allowed under the Corporations Act.

  • Potential Change in Control Period shall commence upon the occurrence of a Potential Change in Control and shall lapse upon the occurrence of a Change in Control or, if earlier (i) with respect to a Potential Change in Control occurring pursuant to Section 18.15(A), immediately upon the abandonment or termination of the applicable agreement, (ii) with respect to a Potential Change in Control occurring pursuant to Section 18.15(B), immediately upon a public announcement by the applicable party that such party has abandoned its intention to take or consider taking actions which if consummated would result in a Change in Control or (iii) with respect to a Potential Change in Control occurring pursuant to Section 18.15(C) or (D), upon the one year anniversary of the occurrence of a Potential Change in Control (or such earlier date as may be determined by the Board).

  • Regular Position means an individual Nurse’s job defined as a percentage of full-time hours as set out in the appointment letter referred to in Article 15.

  • Salary reduction plan means a benefit plan whereby state and

  • Reduction Percentage means the percentage rate by which the Initial Per Certificate Entitlement will reduce on a daily basis on the assumption that the daily rate will be theper annum rate specified in the Final Terms divided by 365 and applied accordingly. B.26 Investment managementNot applicable - there is no active management of the assets of the Issuer. B.27 Further issuances backed by same pool of assetsNot applicable – the Issuer will not issue further securities backed by the same pool of assets. B.29 Description of the flow of fundsSave to the extent that the Authorised Participant as subscribed for the issue of Certificates in whole or in part by the physical delivery of the relevant Precious Metal in respect of the Series (the "Underlying Precious Metal"), the net proceeds from each issue of Certificates will be used (a) to purchase the Underlying Precious Metal and (b) to pay any listing fees incurred in connection with the listing of the Certificates. The Certificates will not bear interest. On redemption, a Certificateholder will, in respect of a Certificate, receive on a date on or before the third business day following the relevant Eligible Redemption Valuation Date(being any business day) (in each case the "Settlement Date"):

  • alternative maximum council tax reduction means the amount determined in accordance with paragraph 31 and Schedule 4;

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.