Preserved Benefits definition

Preserved Benefits means the benefits which must be payable to or in respect of a former member in order that the scheme shall comply with the preservation requirements.
Sample 1Sample 2Sample 3
Preserved Benefits means benefits arising on an individual ceasing to be an active member of a pension scheme, payable at a later date;
Sample 1Sample 2Sample 3
Preserved Benefits means benefits to which a person—
Sample 1Sample 2

Examples of Preserved Benefits in a sentence

  • If former employees were in the 1956 Scheme and left service, and did not re-enter the Sector (thereby becoming a member of the 1977 or 1998 Schemes) there is no provision for Preserved Benefits and no entitlements available.

  • These are called Preserved Benefits.You can access your Preserved Benefits in your super when you have met a condition of release.

  • Accordingly, the true owner, for tax purposes, is the one who bears all the risks and is awarded all the benefits from residual value.

  • Benefits subject to Preservation in the Fund shall cease to be subject to Preservation and become Unrestricted Benefits in the circumstances prescribed in SIS as causing Preserved Benefits to become "unrestricted non-preserved benefits" within the meaning of SIS.

  • The amount of their Member Account, including any Preserved Benefits, shall be paid to the Member if the Trustee is satisfied that the Member is leaving Australia to reside permanently overseas.

  • Preserved Benefits - The pension benefits payable from normal retirement age to a member of the Fund who has ceased to contribute as a result of leaving employment or opting out of the Pension scheme before normal retirement age.

  • Qualifying service is required for eligibility for Retirement Benefits (Chapter 11), Preserved Benefits (Chapter 13) and Actuarially Reduced Benefits (Chapter 13A) but is not required for Death in Service benefits.

  • Preserved Benefits – In general preserved benefits must be retained in a superannuation fund until the member has satisfied a condition of release as specified in the Superannuation Industry (Supervision) Act 1993.

  • In the event of a data breach of any Vendor’s security obligations or other event requiring notifi- cation under applicable law (a “Notification Event”), Vendor agrees to assume responsi- bility for informing all such individuals in accordance with applicable laws and to in- demnify, hold harmless and defend FIU against any claims, damages, or other harm related to such Notification Event.

  • Preserved Benefits All contributions and investment earnings received after 1 July 1999 are fully preserved .


More Definitions of Preserved Benefits

Preserved Benefits means benefits to which a person becomes entitled under regulation 33, or the corresponding provisions of the former regulations and which have not had an election made in respect of them under regulation 34(1) nor have yet become payable;
Sample 1
Preserved Benefits means superannuation or retirement benefits that, under a superannuation scheme, are payable at a future date.
Sample 1
Preserved Benefits means preserved benefits of which at least part are attributable to a period of membership after that date.
Sample 1

Related to Preserved Benefits

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Vested Benefits means amounts that are vested or that Executive is otherwise entitled to receive, without the performance by Executive of further services or the resolution of a contingency, under the terms of or in accordance with any investment and savings plan or retirement plan (including any plan providing retiree medical benefits) of the Company or its affiliates, and any ERPs or ESPs related thereto, and any deferred compensation or employee stock purchase plan or similar plan or program of the Company or its affiliates.

  • Excepted benefits means benefits under one or more (or any combination thereof) of the following:

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

  • Compensation and Benefits Programs means all compensation and benefit plans, policies, and programs of the Debtors, and all amendments and modifications thereto, applicable to the Debtors’ employees, former employees, retirees, and non-employee directors and the employees, former employees and retirees of their subsidiaries, including all savings plans, retirement plans, health care plans, disability plans, and incentive plans, deferred compensation plans, and life, accidental death, and dismemberment insurance plans.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Employment benefits means all benefits provided or made

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m).

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Medical Benefits means medical, optical, or dental benefits, including, but not limited to, hospital and physician services, prescription drugs, and related benefits.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Essential Health Benefits means, under section 1302(b) of the Patient Protection and Affordable Care Act, those health benefits to include at least the following general categories and the items and services covered within the categories: ambulatory patient services; Emergency Services; hospitalization; maternity and newborn care; mental health and substance abuse disorder services, including behavioral health treatment; prescription drugs; rehabilitative and habilitative services and devices; laboratory services; preventive and wellness services and chronic disease management; and pediatric services, including oral and vision care.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Medical Benefits Schedule means the Medicare Schedule of Benefits produced by the Department of Health to which all fees and benefits relate for inpatient hospital services.

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Dependant child means a dependant person who is aged 0–17 years of age.

  • Separation Benefits has the meaning accorded such term in Section 3.04.