Examples of Year of Credited Service in a sentence
As of the effective date of this Agreement, the monthly amount per Year of Credited Service payable as a Normal Retirement Pension (the “Monthly Benefit”) is $572.13.
If an IPF participating employer does not remit the extra fifteen percent (15%) contribution, its employees will accrue benefits under the IPF equal to fifty percent (50%)of the reduced accrual rate or$.70 per month for each $.10 in the IPF contribution rate for each Year of Credited Service accrued beginning with the first date after April 1, 2009.
The monthly amount shall be equal to one-twelfth of the former Employee's Includible Compensation during the former Employee's most recent Year of Credited Service.
Except as modified below, "Includible Compensation" means an Employee's compensation received from the University that is includible in the Participant's gross income for Federal income tax purposes (computed without regard to Code Section 911 relating to United States citizens or residents living abroad) for the most recent period that is a Year of Credited Service.
For 12-month periods ending on or before December 31, 2014, you must work at least 1,000 hours and 6-months during your final 12-month period to earn a full Year of Credited Service.