Credited Hours definition
Examples of Credited Hours in a sentence
For those individuals who had a Break in Service during the three (3) year period immediately preceding January 1st of the evaluation year, the increase shall apply only to Credited Hours accumulated after the date of the most recent Break in Service.
For purposes of paragraphs (A), (B) and (C), Credited Hours shall be limited as set forth in Section 2(a)(2).
For those individuals who had a Break in Service during the period commencing with January 1, 2017 to and including December 31, 2020, the increase shall apply only to Credited Hours accumulated after the date of the most recent Break in Service.
In addition to the requirements set forth above, no Employee (other than an Employee who is already a Participant on August 2, 1992) shall become a Participant until the last day of the Computation Year in which he completes a Qualified Year (or, if earlier, the July 1 following the completion of the twelve month period, starting on the date the Employee earns his first Credited Hour, during which the Employee accumulates 400 Credited Hours).
For purposes of clauses (A), (B) and (C), Credited Hours shall be limited as set forth in Section 2 (a) (2).
In the event that the reserve levels are below eight (8) months in the Active Health Fund or the Retired Employees Fund on January 1st of the evaluation year, or the Pension Plan is not certified to be in the Green Zone in the evaluation year, the benefit accrual rates for Credited Hours accumulated since the most recent increase in the pension benefit accrual rate shall remain at the rates provided in subparagraph (f)(1)(i)(A)-(C) above.
For those individuals who had a Break in Service during the three-year period immediately preceding January 1st of the evaluation year, the increase shall apply only to Credited Hours accumulated after the date of the most recent Break in Service.
Such benefit and all Credited Hours and Qualified Years attributable to such benefit shall thereupon be disregarded for all purposes under this Plan.
First, such Excluded Person (whether or not he previously participated in the Active or Retiree Fund of the Plan) shall not be an Employee, Controlling Employee or Participant in the Active or Retiree Fund of the Plan for the Controlled Employer on and after September 1, 2002 and shall not earn any Credited Hours for the Controlled Employer on and after September 1, 2002.
First, such Excluded Person (whether or not he previously participated in the Plan) shall not be an Employee, Controlling Employee or Participant in the MPI Plans (as defined in paragraph (3) above) for the Controlled Employer on and after September 1, 2002 and shall not earn any Credited Hours, Compensation or allocation of contributions, with respect to the Controlled Employer on and after September 1, 2002.