Projected Accrued Benefit definition

Projected Accrued Benefit means the Company's accumulated accrued liability for the Executive's targeted normal retirement benefit under Section 2.1. For each year, the annual benefits are estimated using the interest method of accounting, an 8% interest rate, monthly benefit payments and monthly compounding.
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Projected Accrued Benefit means the monthly benefit that would be payable to the Participant commencing at Normal Retirement Age including any adjustments made after the Participant’s Benefit Commencement Date, assuming the Participant’s Average Monthly Compensation equals his Average Monthly Compensation as of the end of the calendar year preceding the calculation date and assuming the Participant remains continuously employed by the County until his Normal Retirement Date.
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Examples of Projected Accrued Benefit in a sentence

  • The annual benefit amounts of Schedules A and B are calculated by amortizing the Projected Accrued Benefit, using the interest method of accounting, an 8% discount rate, monthly compounding and monthly payments.

  • The Funding Shortfall for this purpose means the amount, if any, by which the accrued actuarial liabilities of the PBH UK Scheme as of the Closing Date exceeds the assets of the PBH UK Scheme calculated in accordance with the Projected Accrued Benefit Method as of the Closing Date, together with interest at the valuation rate from the Closing Date to the date of payment.

  • Notwithstanding anything in the Plan to the contrary, death benefits may not be paid in excess of one hundred percent (100%) of the present value of the Participant’s Projected Accrued Benefit.