Examples of Year of Continuous Service in a sentence
Plan Benefits are determined by multiplying Final Salary by the number of credits determined as the sum of the following: (1) one credit for each Year of Continuous Service; (2) one credit for each full $10,000 of Annual Pay; and (3) one credit for each full $10,000 of Annual Pay in excess of $40,000.
Each Employee at September 17, 1985, and each Employee hired thereafter, shall join the Retirement Plan on the January 1st coincident with or next following the completion of One Year of Continuous Service, provided he is then an active Employee or is on authorized leave for vacation, jury duty or bereavement and provided that they are not then sixty-five (65) years of age or over.
Subject to Section VI(b)(ii), the Benefit Plan Allowance payable to a Member shall be equal to one (1) week of such Member’s Enhanced Regular Earnings for each full Year of Continuous Service (prorated for completed calendar months); provided, however, that the minimum Benefits Plan Allowance shall be equal to four (4) weeks of the Member’s Enhanced Regular Earnings and the maximum Benefits Plan Allowance of any Member shall not exceed twenty-five (25) weeks of Enhanced Regular Earnings.
Employees with Less Than One Year of Continuous Service This clause does not apply to Employees with less than one year of continuous service.
If he did complete a Year of Continuous Service before he ceased to be an Employee, he will be an Eligible Participant immediately upon rehire.