Year of Credited Service Sample Clauses

Year of Credited Service a. After 1975 - Any calendar year in which an employee has at least 1,950 Hours of Service. An employee shall receive pro rata credit for any calendar year in which he has fewer than 1,950 Hours of Service; counting any fraction of the total years of service which is greater than one-half as a whole year.
Sample 1
AutoNDA by SimpleDocs
Year of Credited Service for benefit accrual purposes requires the same number of Hours of Service, but no more than a maximum of 500 Hours of Service.)
Sample 1
Year of Credited Service. Such Actuarial Equivalence shall also take into consideration the increased value of the Credited Service resulting from and Cost of Living Adjustment. For purposes of this paragraph, there is no Cost of Living Adjustment applied to purchases of Additional Credited Service under Schedule A. For purchases of Additional Credited Service under Schedules B and C prior to January 1, 2005, there was applied a Cost of Living Adjustment at an annualized fixed rate of one percent (1%). For purchases of Additional Credited Service under Schedules B and C occurring on or after January 1, 2005, there will be applied a Cost of Living Adjustment at an annualized rate of five percent (5%).
Sample 1

Related to Year of Credited Service

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Break in Service No absence under any paid leave provisions of this Article shall be considered as a break in service for any employee who is in paid status, and all benefits accruing under the provisions of this Agreement shall continue to accrue under such absence.

  • BREAK IN SERVICE - PARTICIPATION The Break in Service rule described in Section 2.03(B) of the Plan: (Choose (a) or (b)) [X] (a) Does not apply to the Employer's Plan. [ ] (b) Applies to the Employer's Plan.

  • Years of Service (i) A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Computation Period Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Hours of Service The minimum number of Hours of Service an Employee must complete during a vesting computation period to receive credit for a Year of Service is: (Choose (c) or (d)) [X] (c) 1,000 Hours of Service.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

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