Year of Credited Service definition

Year of Credited Service means, with respect to any Employee, a twelve-month Period of Credited Service.

Year of Credited Service means, with respect to any Participant, a Plan Year during which the Participant completes at least 1,000 Hours of Service as an Employee, commencing on such Participant’s Entry Date, or, if later, January 1, 1993. In the case of a Participant who participated in the Plan prior to January 1, 1993, Years of Credited Service shall also include all Years of Credited Service accrued under the Plan as of December 31, 1992; fractional Years of Credited Service accrued under the Plan as of December 31, 1992 shall be converted to Hours of Service by crediting such Participant, for the Plan Year commencing on January 1, 1993, with 190 Hours of Service for each calendar month during which the Participant performed an Hour of Service. In the case of a Participant who was a participant in a Prior Plan, Years of Credited Service shall, in addition, include all Credited Service (as defined in the Prior Plan) recognized under such Prior Plan for benefit accrual purposes as of December 31, 1990.

Year of Credited Service means each year with the Company with respect to which benefits are treated as accruing on behalf of the Participant for such year pursuant to Section 1.13 of the Plan.

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.

More Definitions of Year of Credited Service

Year of Credited Service means years of benefit service as defined in Article 3 of the Basic Plan, but without regard to the Basic Plan’s freezing of Benefit Service as of April 30, 2008. In making this determination, however, the provisions of Plan section 9.4 relating to leaves of absence shall control over any contrary provisions in the Basic Plan.

Year of Credited Service means years of benefit service as defined in Article 3 of the Basic Plan. In making this determination, and notwithstanding the prior sentence, the provisions of Plan section 9.4 relating to leaves of absence shall control over any contrary provisions in the Basic Plan.

Year of Credited Service means the number of calendar months during which a Participant was employed by the Company divided by twelve, with any remainder rounded up to the next whole year.

Year of Credited Service means a Plan Year during which an Employee has not less than one thousand (1,000) Hours of Service, including, once the individual has become an employee, Hours of Service credited while he was a Leased Employee.

Year of Credited Service means a Plan Year beginning on or ------------------------ after the Employee's date of employment or most recent date of reemployment, whichever is later, during which the Employee completed 1,000 or more Hours of Service; provided, however, that:

Year of Credited Service means, with respect to any Participant, each 12-month period of the Participant's Credited Service (and fractions of such a 12-month period), excluding any Credited Service the Participant completed prior to a Break-In-Service that occurred before the Participant had completed 5 Years Of Service.

Year of Credited Service means, for any Participant, a credit used to determine his Accrued Benefit under the Plan, as further described in Article III.