Common use of Weeks Worked Clause in Contracts

Weeks Worked. An Employee will be credited with 45 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hour of Service during the week. Option 5: Semi-Monthly payroll periods worked. An Employee will be credited with 95 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hour of Service during the semi-monthly payroll period. Option 6: Months worked. An Employee will be credited with 190 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hour of Service during the month. NOTE: If no option is selected, Option 2 will apply.Normal Retirement AgeThe Normal Retirement Age under the Plan will be (select and complete one):Option 1: Age (not to exceed 65 or such later age as may be allowed in Code Section 411(a)(8)).

Appears in 1 contract

Sources: Qualified Simplified Profit Sharing Plan

Weeks Worked. An Employee will be credited with 45 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hour of Service during the week. Option 5: Semi-Monthly payroll periods worked. An Employee will be credited with 95 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hour of Service during the semi-monthly payroll period. Option 6: Months worked. An Employee will be credited with 190 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hour of Service during the month. NOTE: If no option is selected, Option 2 will apply.. Normal Retirement AgeThe Age The Normal Retirement Age under the Plan will be (select and complete one):Option one): Option 1: Age (not to exceed 65 or such later age as may be allowed in Code Section 411(a)(8)).

Appears in 1 contract

Sources: Qualified Simplified Money Purchase Pension Plan