PLAN ENTRY. A. If this Plan replaces a Prior Plan, each Employee of the Employer who participated in the Prior Plan on the day immediately before the Effective Date continues to be a Participant in this Plan. B. An Employee becomes a Participant as of the Effective Date if he or she has met the requirements of Section 2.01 as of that Date. After the Effective Date, each Employee becomes a Participant on the first Entry Date after satisfying the eligibility requirements of Section 2.01. C. The Plan Administrator must notify each Employee who becomes eligible to become a Participant under this Plan and furnish him or her with whatever enrollment forms, other documents are required of Participants and furnish him or her with whatever notices and documents are required by applicable law to be provided to eligible Employees and/or Participants, including but not limited to summary plan descriptions. Prior to becoming a Participant, the eligible Employee must execute those forms or documents and make available whatever information is reasonably required for the administration of the Plan, including his or her investment elections pursuant to Section 5.05, if applicable. If this is a "standardized plan," and the Employee does not provide the required information, the Employer shall provide the necessary information from its best available records.
Appears in 1 contract
Sources: 401(k) Profit Sharing Adoption Agreement (Kevco Inc)
PLAN ENTRY. A. If this Plan replaces a Prior Plan, each Employee of the Employer who participated in the Prior Plan on the day immediately before the Effective Date continues to be a Participant in this Plan.
B. An Employee becomes a Participant will enter the Plan, and begin to participate in the Plan, as of the Effective Date if he or she has met the eligibility requirements of Section 2.01 as of that Datedate. After the Effective Date, each Employee becomes a Participant on will enter the Plan, and begin to participate in the Plan, as of the Entry Date which coincides with or next follows the first Entry Date after satisfying date on which he or she meets the eligibility requirements of Section 2.01.
C. The Plan Administrator must notify each Employee who becomes eligible as to become a Participant under this Plan and furnish him his or her eligibility to participate in this Plan, furnish such Employee with whatever enrollment forms, forms and other documents are required of Participants that Employee must complete in order to so participate, and furnish him or her such Employee with whatever notices and other documents are required by applicable law to be provided to eligible Employees and/or ParticipantsEmployees, including but not limited to summary plan descriptions. Prior to becoming a Participantentering the Plan, the eligible Employee must execute those forms or documents and make available to the Plan Administrator whatever information is reasonably required for the administration of the Plan, including his or her investment elections pursuant to Section 5.05, if applicable. If this is a "standardized plan," and the Employee does not provide the required information, the Employer shall provide the necessary information from its best available records.
Appears in 1 contract
Sources: Plan Document and Trust Agreement (Stonepath Group Inc)