Theoretical Contribution definition

Theoretical Contribution means the contribution that would be made on behalf of the Participant, using the individual level premium funding method from the age at which participation commenced to Normal Retirement Age, to fund the Participant's entire retirement benefit without regard to pre-retirement ancillary benefits. The entire retirement benefit for this purpose is based upon a single life annuity and assumes continuation of current salary (no salary scale).
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Theoretical Contribution means, for any year during which the Agreement is in effect, is a contribution assumed to be made by the Bank and determined by using the individual level premium funding method, from the age at which the Executive was first covered by the Agreement until the Executive attains age sixty-five (65), to fund the Executive's entire anticipated benefit under the Agreement, assuming the Executive remains employed by the Bank during that period. The calculation of the Theoretical Contribution as of any date applies from the effective date of the Agreement until the Executive attains age sixty-five (65) years, based on the benefit due under Paragraph 1.1 of the Agreement, determined using the Executive's base salary as of that date.
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Theoretical Contribution means the contribution that would be made on behalf of the Participant, using the individual level premium funding method from the age at which participation commenced to Normal Retirement Age, to fund the Participant's entire
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Examples of Theoretical Contribution in a sentence

  • For purpose of this requirement, the face amount of the insurance policies will be that purchasable by (fill in the amount but not greater than ---------- 66 if whole life and not greater than 33 if term and/or universal life) percent of the Theoretical Contribution.

  • For purpose of this requirement, the face amount of the insurance policies will be that purchasable by (fill in the amount but not greater ----------------- than 66 if whole life and not greater than 33 if term and/or universal life) percent of the Theoretical Contribution.

  • The Theoretical Reserve is the amount the Advisory Committee would have available in a reserve fund if for each Year of Participation until the Participant's death the Employer made the Theoretical Contribution to the reserve fund.

  • The -------------------------------------------- Theoretical Contribution for any Plan Year is the contribution which the Advisory Committee would compute using the individual level premium funding method from the age at which a Participant commenced participation in the Plan to Normal Retirement Age to fund the Participant's entire anticipated normal retirement pension, including any minimum benefit guaranteed under Article XVIII, without regard to preretirement ancillary benefits.


More Definitions of Theoretical Contribution

Theoretical Contribution means the contribution that would be made on behalf of the Participant, using the actuarial assumptions stated in Paragraph 2.3(b) and the individual level premium funding method from the age at which participation commenced to Normal Retirement Age, to fund the Participant's entire retirement benefit without regard to preretirement ancillary benefits.
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Related to Theoretical Contribution

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1.

  • Contribution Rate means, in a reserve study as described in RCW 64.38.065, the amount contributed to the reserve account so that the association will have cash reserves to pay major maintenance, repair, or replacement costs without the need of a special assessment.

  • In-kind contribution means a contribution of goods or services received by a candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee, which contribution is paid for by a person or entity other than the recipient committee, but does not include services provided without compensation by an individual volunteering a part of or all of his or her time on behalf of a candidate or committee.

  • State contribution means the lesser of:

  • Excess Contribution means a contribution that exceeds the

  • Additional Contribution Each Member's pro-rata portion of a Required Amount, determined by multiplying the Required Amount by each Member's Interest.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula:

  • Accumulated contributions means the sum of all

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Political contribution means any payment, gift, subscription, assessment, contract, payment for services, dues, loan, forbearance, advance or deposit of money or any valuable thing, to a candidate for public office or to a political committee, including but not limited to a political action committee, made for the purpose of influencing any election in the Commonwealth of Pennsylvania or for paying debts incurred by or for a candidate or committee before or after any election.

  • Regular contributions means the amounts required to be

  • Company Matching Contributions means the Company contributions described in Section 3.4.

  • Campaign Contribution means a gift, subscription, loan, advance or deposit of money or other thing of value, including the estimated value of an in-kind contribution, that is made to or received by an applicable public official or any person authorized to raise, collect or expend contributions on that official’s behalf for the purpose of electing the official to either statewide or local office. “Campaign Contribution” includes the payment of a debt incurred in an election campaign, but does not include the value of services provided without compensation or unreimbursed travel or other personal expenses of individuals who volunteer a portion or all of their time on behalf of a candidate or political committee, nor does it include the administrative or solicitation expenses of a political committee that are paid by an organization that sponsors the committee.

  • In-kind contributions means services and goods as approved by the department that are provided by a grant recipient toward completion of a department-approved local snowmobile program under section 82107.

  • Nonelective Contribution means an amount contributed by a participating

  • Additional contributions means contributions made by a member of a defined benefit plan to