Common use of Eligible Regular Employees Clause in Contracts

Eligible Regular Employees. Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check one): No vesting schedule (immediate vesting). Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 5 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. Graduated Vesting Schedule. Benefits shall become vested in accordance with the following schedule (insert percentages): COMPLETED YEARS OF TOTAL CREDITED SERVICE VESTED PERCENTAGE 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 %

Appears in 1 contract

Samples: Georgia Municipal Employees

AutoNDA by SimpleDocs

Eligible Regular Employees. Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check one): No vesting schedule (immediate vesting). Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 5 10 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. Graduated Vesting Schedule. Benefits shall become vested in accordance with the following schedule (insert percentages): COMPLETED YEARS OF TOTAL CREDITED SERVICE VESTED PERCENTAGE 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 %

Appears in 1 contract

Samples: Georgia Municipal Employees

Eligible Regular Employees. Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check one): No vesting schedule (immediate vesting). Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 5 10 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. Graduated Vesting Schedule. Benefits shall become vested in accordance with the following schedule (insert percentages): VESTED PERCENTAGE COMPLETED YEARS OF TOTAL CREDITED SERVICE VESTED PERCENTAGE 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 % 10 %

Appears in 1 contract

Samples: Georgia Municipal Employees

AutoNDA by SimpleDocs

Eligible Regular Employees. Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check one): No vesting schedule (immediate vesting). Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 5 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. Graduated Vesting Schedule. Benefits shall become vested in accordance with the following schedule (insert percentages): COMPLETED YEARS OF TOTAL CREDITED SERVICE VESTED PERCENTAGE 1 % 2 % 3 % 4 % 5 % 6 % 7 % 8 % 9 %

Appears in 1 contract

Samples: Georgia Municipal Employees

Time is Money Join Law Insider Premium to draft better contracts faster.