Common use of Break in Service Clause in Contracts

Break in Service. (a) If the Hours of Service method is used in determining either an Employee’s initial or continuing eligibility to participate in the Plan, or the nonforfeitable interest in the Employee’s account balance derived from Employer contributions, a Break in Service is a twelve (12) consecutive month period (during which the Employee has not completed more than five hundred (500) Hours of Service.

Appears in 8 contracts

Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (Savannah Bancorp Inc), Prototype Defined Contribution Plan

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Break in Service. (a) If the Hours of Service method is used in determining either an Employee’s initial or continuing eligibility to participate in the Plan, or the nonforfeitable interest in the Employee’s account balance derived from Employer contributions, a Break in Service is a twelve (12) consecutive month period (during which the Employee has not completed more than five hundred (500) Hours of Service.

Appears in 6 contracts

Samples: Prototype Defined Contribution Plan (United Community Bancorp), Prototype Defined Contribution Plan (FNB United Corp.), Prototype Defined Contribution Plan (Georgetown Bancorp, Inc.)

Break in Service. (a) If the Hours of Service method is used in determining either an Employee’s 's initial or continuing eligibility to participate in the Plan, or the nonforfeitable interest in the Employee’s 's account balance derived from Employer contributions, a Break in Service is a twelve (12) consecutive month period (during which the Employee has not completed more than five hundred (500) Hours of Service.

Appears in 4 contracts

Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Nonstandardized Adoption Agreement (Felcor Lodging Trust Inc), Prototype Defined Contribution (Spheris Leasing LLC)

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Break in Service. (a) 1. If the Hours of Service method is used in determining either an Employee’s initial or continuing eligibility to participate in the Plan, or the nonforfeitable interest in the Employee’s account balance derived from Employer contributions, a Break in Service is a twelve (12) consecutive month period (during which the Employee has not completed more than five hundred (500) Hours of Service.

Appears in 1 contract

Samples: Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.)

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