SUBSEQUENT PLAN YEARS Clause Samples
SUBSEQUENT PLAN YEARS. For each succeeding Plan Year, an irrevocable deferral election shall be made by completing a new Deferral Election Form for that Plan Year, and such other elections as the Committee deems necessary or desirable under the Plan, which elections shall be made by timely filing with the Committee or its designee, in accordance with its and the Committee's rules and procedures, before the end of the Plan Year preceding the Plan Year for which the election is made.
SUBSEQUENT PLAN YEARS. Except as otherwise determined by Ardent Health Services and communicated to Participants in the enrollment materials with respect to a particular Plan Year, for subsequent Plan Years, a Participant who fails to notify the Plan Administrator on or before the specified due date for any Plan Year shall be deemed to have made the election as was in effect at the end of the preceding Plan Year. The Participant shall also be deemed to have agreed to a reduction in his or her Compensation for the subsequent Plan Year in an amount equal to the Participant’s share of the cost of the Benefit Options he or she is deemed to have elected, if any, for such Plan Year. Notwithstanding the foregoing, as to the Flexible Spending Accounts and contributions to a Health Savings Account, in the absence of an election to participate for the subsequent Plan Year, the Participant shall be deemed to have elected cash Compensation in lieu of such coverage, regardless of any election in effect during the preceding Plan Year.