Common use of Leased Employees Clause in Contracts

Leased Employees. A Leased Employee shall be treated as an Employee of the recipient Employer in any Plan established under a Standardized Adoption Agreement, unless specifically excluded under the provisions of the next subparagraph. A Leased Employee will be considered an Employee of the recipient Employer for purposes of participation in any Plan established under a Nonstandardized Adoption Agreement, unless otherwise elected by the Employer in the Adoption Agreement. Contributions or benefits provided by the leasing organization that are attributable to services performed for the recipient Employer shall be treated as provided by the recipient Employer. A Leased Employee shall not be considered an Employee of the recipient if such Employee is covered by a money purchase pension plan sponsored by the leasing organization providing:

Appears in 9 contracts

Samples: Prototype Defined Contribution Plan (Athens Bancshares Corp), Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)

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