DC Employees definition
Examples of DC Employees in a sentence
Current provisions which includes an accrual of four percent (4%) of gross earnings for regular employees, equivalent to ten (10) statutory holidays per year; casual employees receive statutory holiday pay based on the BC Employment Standards Act.
To the extent permitted by applicable Law, each Purchaser DC Plan (non-U.S.) shall allow for the receipt in cash from the DC Employees (non-U.S.) of rollover distributions, but also including notes corresponding to loans.
Purchaser and Seller Parent shall work together in order to facilitate any such distribution or rollover and to effect a rollover distribution for those DC Employees (non-U.S.) who elect to rollover their account balances, including notes, directly into a Purchaser DC Plan (non-U.S.).
The DC Transfer Amounts to be transferred, if any, from the respective Seller DC Plans (non-U.S.) shall be equitably adjusted to take into account benefit payments made from the respective Seller DC Plans (non-U.S.) to the DC Employees (non-U.S.) after the Closing but prior to the date of transfer and for any earnings and losses on such amount during such period.
The DC Employees shall be given credit under the respective Parent DC Plan for all service with and compensation from the Company and its Affiliates and their respective predecessors as if it were service with and compensation from the Parent for purposes of determining eligibility and vesting under each respective Parent DC Plan.
The DC Employees shall be given credit under the respective Buyer DC Plan for all service with Seller and its Affiliates and their respective predecessors as if it were service with Buyer for purposes of determining eligibility and vesting under each respective Buyer DC Plan, solely to the extent such service is credited for the purposes of the applicable defined contribution plan in which the Transferred Employee participated immediately prior to Closing.
Buyer and Seller will work together in order to facilitate any such distribution or rollover and to effect an eligible rollover distribution for those DC Employees who timely elect to rollover their account balances, including notes, directly into a Buyer DC Plan.
Each Purchaser DC Plan shall provide for the receipt from DC Employees of “eligible rollover distributions” (as such term is defined under Section 402 of the Code) in cash and promissory notes evidencing outstanding loans to DC Employees, which shall be transferred in-kind.
Purchasers and Seller will work together in order to facilitate any such distribution or rollover and to effect an eligible rollover distribution for those DC Employees who elect to roll over their account balances, including notes, directly into a Purchasers DC Plan.
The DC Employees shall be given credit under the respective Non-U.S. GE DC Plan for all service with and compensation from ▇▇▇▇▇▇ or its Affiliates as if it were service with and compensation from GE for purposes of determining eligibility, vesting and the amount of any benefits or benefit accruals under each respective Non-U.S. GE DC Plan.