Plan Year of Service definition

Plan Year of Service means a Plan Year during which an Employee is a Participant and, except as provided in Section 1.65 if the elapsed time method is used, completes a Year of Service for benefit accrual purposes.
Plan Year of Service means a Year of Service in which the applicable twelve (12) month period is a Plan Year.
Plan Year of Service means a Plan Year during which an Employee was a Participant.

Examples of Plan Year of Service in a sentence

  • If the 2% defined benefit minimum is elected in the Adoption Agreement, then for each Non-Key Employee who is a Participant only in this Plan, the Employer will provide a minimum non-integrated benefit equal to two percent (2%) of such Participant's highest five (5) consecutive year average of 415 Compensation for each Plan Year of Service, in which the Plan is top-heavy, not to exceed ten (10).

  • If this is an amendment to a Plan that previously required Employee Contributions as a condition for participation in the Plan, then in no event shall an Employee receive credit for a Plan Year of Service for benefit purposes for any period of employment during which the Employee elected not to make Employee Contributions.

  • For each Non-Key Employee who is a Participant only in the defined benefit plan, the Employer will provide a minimum non-integrated benefit equal to two percent (2%) of such Participant's highest five (5) consecutive year average 415 Compensation for each Plan Year of Service, in which the Plan is top-heavy, not to exceed ten (10).

  • For purposes of this Section, if this is a standardized plan (or if elected in the non-standardized Adoption Agreement), then a Participant shall be credited with a Year of Service (or Plan Year of Service, if applicable) if such Participant either completes more than 500 Hours of Service (or three (3) months of service if the Elapsed Time Method is selected in the Adoption Agreement) or is employed on the last day of the Plan Year.

  • For each Non-Key Employee who is a Participant only in this defined benefit plan, the Employer will provide a minimum non-integrated benefit equal to two percent (2%) of such Participant's highest five (5) consecutive year average 415 Compensation for each Plan Year of Service, in which the Plan is top-heavy, not to exceed ten (10).

  • For purposes of determining the vested percentage in Section 7.01, periods of employment with an Affiliated Company which would have constituted a Plan Year of Service had the Participant been employed by the Employer shall be included as if such periods had been performed for the Employer.

  • You will have completed a Plan Year of Service for a Plan Year if you have completed at least 1,000 Hour(s) of Service during the Plan Year after becoming a participant.

  • For purposes of this Section, "415 Compensation" for any "limitation year" ending in a Plan Year which began prior to January 1, 1984, subsequent to the last "limitation year" during which the Plan is a Top Heavy Plan, or in which the Participant failed to complete a Plan Year of Service, shall be disregarded.

  • Sole exception from such principle are training sessions at the Official Training Sites, during which the Team Delegation Members are permitted to use their own technical equipment provided by non- Commercial Affiliates.

  • To this end, if a Participant has a Plan Year of Service under the Employee Appreciation Savings Plan, each such period shall be deemed to be twelve (12) months of Service hereunder.


More Definitions of Plan Year of Service

Plan Year of Service means a Plan Year during which a Participant completes 1,000 Hours of Service. Notwithstanding any thing in this Plan to the contrary, no Plan Years of Service shall be credited subsequent to December 31, 1992.
Plan Year of Service means, (a) if the 1,000 hour method is specified in the Adoption Agreement, a Plan Year during which an Employee is a Participant and completes 1,000 Hours of Service, or (b) if the
Plan Year of Service means a Plan Year during which an Employee is a Participant and completes a Year of Service (or Period of Service if the Elapsed Time Method is elected).
Plan Year of Service means a Plan Year during which an Employee is a Participant and completes 1000 Hours of Service. However, in determining whether a Participant has completed a Plan Year of Service in a short Plan Year, the number of the Hours of Service required shall be proportionately reduced based on the number of full months in the short Plan Year.
Plan Year of Service means, (a) if the 1,000 hour method is specified in the Adoption Agreement, a Plan Year during which an Employee is a Participant and completes 1,000 Hours of Service, or (b) if the elapsed time method is specified, twelve (12) Months of Service by an Employee who is a Participant.

Related to Plan Year of Service

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.

  • completed year of service means continuous service for one year;

  • Plan Year means the calendar year.

  • Years of Service means the total number of full years in which a Participant has been employed by one or more Employers. For purposes of this definition, a year of employment shall be a 365 day period (or 366 day period in the case of a leap year) that, for the first year of employment, commences on the Employee's date of hiring and that, for any subsequent year, commences on an anniversary of that hiring date. Any partial year of employment shall not be counted.

  • Year of Eligibility Service means where an Employer designates a one or two 12-consecutive-month eligibility waiting period, an Employee must complete at least 1,000 Hours of Employment during each 12-consecutive-month period (measured from his date of Employment and then as of the first day of each Plan Year commencing after such date of Employment); provided, however, if an Employee is credited with 1,000 Hours of Employment in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's employment commencement date, the Employee will be credited, for eligibility purposes, with two Years of Eligibility Service. Where an Employer designates an eligibility waiting period of less than 12 months, an Employee must, for purposes of eligibility, complete a required number of hours (measured from his date of Employment and each anniversary thereafter) which is arrived at by multiplying the number of months in the eligibility waiting period requirement by 83 1/3; provided, however, if an Employee completes at least 1,000 Hours of Employment within the 12 month period commencing on his Employment commencement date or during any Plan Year commencing after such Employment commencement date, such Employee will be treated as satisfying the eligibility service requirements.

  • Deferral Year means each calendar year during which the Trustee makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Period of Service means the aggregate of all periods of service commencing with an Employee's first day of employment or reemployment with the Employer or an Affiliated Employer and ending on the first day of a Period of Severance, or for benefit accrual purposes, ending on the severance from service date. The first day of employment or reemployment is the first day the Employee performs an Hour of Service. An Employee who incurs a Period of Severance of twelve (12) months or less will also receive service-spanning credit by treating any such period as a Period of Service for purposes of eligibility and vesting (but not benefit accrual). For purposes of benefit accrual, a Participant's whole year Periods of Service is equal to the sum of all full and partial periods of service, whether or not such service is continuous or contiguous, expressed in the number of whole years represented by such sum. For this purpose, fractional periods of a year will be expressed in terms of days.

  • Vesting Service of an employee means the period or periods of service credited to him under the provisions of Article II for purposes of determining his vested interest in his Employer Contributions Sub-Account, if Employer Contributions are provided for under either Article VI or Article XXII.

  • Eligibility Service of an employee means the period or periods of service credited to him under the provisions of Article II for purposes of determining his eligibility to participate in the Plan as may be required under Article III or Article VI.

  • Year of Vesting Service means a vesting computation period during which you complete 1,000 hours of service during the Plan Year.

  • Hour of Service means:

  • Hours of Service means hours to be credited to an Employee under the following rules:

  • Top Heavy Plan Year means a Plan Year during which the Plan is a Top Heavy Plan.

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Credited Service means the member's total period of service

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Deferral Period has the meaning set forth in Section 3(h) hereof.

  • 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.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Break in Service means any Plan Year, or, for the initial eligibility computation period under Section 3.2, the 12-consecutive month period beginning on the first day of which an Employee has an Hour of Service, in which an Employee has 500 or fewer Hours of Service. Solely for this purpose, an Employee shall be considered employed for his normal hours of paid employment during a Recognized Absence (said Employee shall not be credited with more than 501 Hours of Service to avoid a Break in Service), unless he does not resume his Service at the end of the Recognized Absence. Further, if an Employee is absent for any period (i) by reason of the Employee’s pregnancy, (ii) by reason of the birth of the Employee’s child, (iii) by reason of the placement of a child with the Employee in connection with the Employee’s adoption of the child, or (iv) for purposes of caring for such child for a period beginning immediately after such birth or placement, the Employee shall be credited with the Hours of Service which would normally have been credited but for such absence, up to a maximum of 501 Hours of Service.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • 1-Year Break in Service means the applicable computation period during which an Employee has not completed more than 500 Hours of Service with the Employer. Further, solely for the purpose of determining whether a Participant has incurred a 1-Year Break in Service, Hours of Service shall be recognized for "authorized leaves of absence" and "maternity and paternity leaves of absence." Years of Service and 1-Year Breaks in Service shall be measured on the same computation period.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.