An Active Participant definition

An Active Participant means an Active Participant as defined in Section 1.2, including (A) a Participant who is an Eligible Employee at least one day on or after July 15, 1990 and on or before September 15, 1990 and (B) a Participant not described in (A) who is absent from Employment by reason of his Disabilitant on account of illness or accident.
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An Active Participant s salary reduction agreement shall become effective on the first day of the first payroll period for which the Employer can reasonably process the request, but not earlier than the later of (a) the effective date of the provisions permitting Deferral Contributions or (b) the date the Employer adopts such provisions. The Employer shall make a Deferral Contribution on behalf of the Participant corresponding to the amount of said reduction. Under no circumstances may a salary reduction agreement be adopted retroactively. An Active Participant may elect to change or discontinue the percentage or dollar amount by which his Compensation is reduced by notice to the Employer as provided in Subsection 1.07(a)(1)(B) or (C) of the Adoption Agreement. Notwithstanding the Employer's election in Subsection 1.07(a)(1)(B) or (C) of the Adoption Agreement, if the Employer has elected one of the safe harbor contributions in Subsection 1.10(a)(3) or 1.11(a)(3) of the Adoption Agreement, an Active Participant may elect to change or discontinue the percentage or dollar amount by which his Compensation is reduced by notice to the Employer within a reasonable period, as specified by the Employer (but not less than 30 days), of receiving the notice described in Section 6.10.
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An Active Participant means a Participant, employed on the Anniversary Date, who has met the eligibility requirements for Employer Discretionary Contributions described in Article III. Notwithstanding any language in this Paragraph C to the contrary, if this Plan would otherwise fail to meet the requirements of Code Sections 401(a)(26), 410(b)(1), or 410(b)(2)(A)(i) and the regulations thereunder because Employer discretionary contributions have not been allocated to a sufficient number or percentage of Participants for a Plan Year, then the following rules shall apply:
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Examples of An Active Participant in a sentence

  • An Active Participant shall become an Inactive Participant (stop accruing benefits under the Plan) on the earlier of the following: (a) the date the Participant ceases to be an Eligible Employee, or (b) the effective date of complete termination of the Plan under Article VIII.

  • An Active Participant may modify his or her Contribution Agreement at any time and any number of times during the Plan Year by filing a new Contribution Agreement with the Plan Administrator.

  • An Active Participant may elect at any time to terminate his or her Contribution Agreement.

  • An Active Participant electing to participate in the Plan will pay Monthly Contributions to participate in the Plan while in active service, while on Leave of Absence or while receiving short term disability benefits under the Officer Disability Plan.

  • An Active Participant may elect to reduce his or her Benefitable Compensation to make pre-tax Elective Deferral Contributions to the Plan in accordance with Code section 403(b) and the Treasury Regulations thereunder if provided for in the Adoption Agreement.

  • An Active Participant may continue his employment after his Normal Retirement Date, in which event he shall continue as an Active Participant and, subject to the provisions of Section 4.6, retire as of his Deferred Retirement Date.

  • An Active Participant, who has suffered a Permanent Disability, may retire on his Disability Retirement Date.

  • An Active Participant who has satisfied the age and service requirements for early retirement shall be entitled to receive as of his Normal Retirement Date a monthly Standard Form of Retirement income equal to one-twelfth (1/12th) of his Accrued Benefit.

  • An Active Participant may change the rate of Deposits to a higher or lower percentage of Compensation within the limitations of Sections 4.1, 4.2 and 4.5 by arranging for such change with the Record Keeper or as otherwise prescribed by the Committee.

  • An Active Participant shall become an Inactive Participant (stop accruing benefits under the Plan) on the earlier of the following: (a) The date on which he ceases to be an Eligible Employee (on his Retirement Date if the date he ceases to be an Eligible Employee occurs within one month of his Retirement Date).


More Definitions of An Active Participant

An Active Participant s salary reduction agreement shall become effective on the first day of the first payroll period for which the Employer can reasonably process the request, but not earlier than the later of (a) the effective date of the provisions permitting Deferral Contributions or (b) the date the Employer adopts such
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An Active Participant who is demoted shall become an "Inactive Participant" as of the effective date of his demotion if, in his new position after the demotion, he is not a Senior Manager.
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Related to An Active Participant

  • Active Participant means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, or Normal Retirement.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Participant has the meaning specified in Section 10.06(d).

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Eligible employer means any municipality with a municipal

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Designated Participant means a key Employee of the Company or any other Participating Company who is designated by the Committee in writing to participate in the Program.

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Other Participant means a cooperative project participant other than the United States.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • CDS Participant means a broker, dealer, bank or other financial institution or other person for whom, from time to time, CDS effects book entries for the Units deposited with CDS.

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Current Participant means a Class Member who has an Active Account in one or both the Plans as of August 5, 2020.

  • Qualified Participant means any Participant or Former Participant who has completed ten (10) Years of Service as a Participant and has attained age 55.

  • Covered Employer means the City of Cambridge or a Beneficiary of Assistance.