Plan Default definition

Plan Default. All employees scheduled to work at least 20 hours/week or 1000 hours/year.  Other (Overrides Plan Default) VESTING – All contributions are 100% vested (fully credited to the benefit of the participant and not subject to forfeiture). FCMM does not allow delayed or partial vesting of remitted contributions.
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Plan Default. All employees scheduled to work at least 20 hours/week or 1000 hours/year.  Other (Overrides Plan Default) _
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Plan Default. All employees scheduled to work at least 20 hours/week or 1000 hours/year. ❑ Other (Overrides Plan Default): VESTING – All contributions are 100% vested (fully credited to the benefit of the participant and not subject to forfeiture). FCMM does not allow delayed or partial vesting of remitted contributions. Salary Deferral Class: Per the FCMM Retirement Plan Document, FCMM has established eligibility criteria for an employee’s participation in the Plan. At a minimum, this default eligibility permits an employee scheduled to work 20 hours or more per week OR 1000 or more per year to enroll and participate in the FCMM Retirement Plan by contributing voluntary Salary Deferral Contributions on a Pre-tax and/or Xxxx basis. ALL eligible employees must be informed of their right to participate in the Plan via voluntary salary deferral contributions. Per IRS rules, Salary deferral contributions must be sent to the Plan at least monthly. All employers must complete the Salary Deferral Eligible Only Class. To add separate Classes outlining the specific benefit provisions for other groups of employees, complete the blank Class sections supplied on pages 2 and 3. Make copies of page 3 if needed. Use the following templates to establish Classes for employees also eligible for Employer and/or Matching contribution arrangements. CLASS #: 2
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Examples of Plan Default in a sentence

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  • Upon acceleration of the remaining unpaid Accumulated Assessment Delinquency, Owner also acknowledges and agrees that he or she or the entity shall be considered in default of the Payment Plan Agreement until he or she pays the full amount of the Accumulated Assessment Delinquency to the Association (the “Payment Plan Default Period”).

  • That if the Approved Travel Plan is not implemented in accordance with the timetable and provisions set out therein the Landowner shall pay the Travel Plan Default Sums no later than 21 days after receiving a written request from the Council for such payment4.

  • The Creditors’ Trustee, Position Holder Trustee, and Chapter 11 Trustee, as the case may be, shall have thirty (30) days from the receipt of a Plan Default Notice to cure any actual default that may have occurred.

  • Automatic Evaluation upon Trial Period Plan Default Section 2.2 of Chapter II of the Handbook provides that, with respect to borrowers who default on a HAMP Tier 1 trial period plan after June 1, 2012, servicers may, but are not required to, automatically evaluate such borrowers for HAMP Tier 2 prior to sending a Non-Approval Notice.

  • Plan Default Investment Option: MassMutual will allocate contributions to participants’ accounts according to allocation instructions received in good order from the Plan Sponsor.

  • DOI: 10.1016/0378-1127(91)90095-D Young F.W., Faldowski R.A., McFarlane M.M., 1993.

  • The amounts are referred to in the model Section 106 Agreement as “Travel Plan Default Sums” and are defined therein.

  • IDCW - Reinvestment Default Plan: Direct Plan (between Regular and Direct Plan) Default Option: Growth (between Growth & IDCW) Default IDCW Facility: IDCW - Reinvestment Facility (between Reinvestment & Payout Facilities) The AMC reserves the right to introduce further Options /facility as and when deemed fit.

  • The REDISSE Phase IV Project will be implemented at both regional and national levels with Steering Committees at each level.

Related to Plan Default

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Non-Defaulting Party has the meaning specified in Section 6(a).

  • Minor Default means any Event of Default that is not a Major Default.

  • Employer default means having an outstanding balance or liability to the old fund or to the uninsured employers' fund or being in policy default, as defined in W. Va. Code § 23-2c-2, failure to maintain mandatory workers' compensation coverage, or failure to fully meet its obligations as a workers' compensation self-insured employer. An employer is not in employer default if it has entered into a repayment agreement with the Insurance Commissioner and remains in compliance with the obligations under the repayment agreement.

  • Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

  • Non-Defaulting Member means a Member who is not a Defaulting Member.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Non-Defaulting Bank means, at any time, a Bank that is not a Defaulting Bank.

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Funding Default as defined in Section 2.21.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Registration Default As defined in Section 5 hereof.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Lease Default means any event or condition which, with the lapse of time or the giving of notice, or both, would constitute a Lease Event of Default.

  • Guarantor Default means a default by the Guarantor under its obligations pursuant to Article IX of the Note Purchase Agreement which is existing and continuing.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.