Examples of Year of Service in a sentence
To receive credit for one Year of Service, the Participant must remain in continuous employment with the Employer (or render contract service to the Employer) for a twelve-month period, the first such period beginning on theParticipant’s initial date of employment and successive periods beginning on the anniversary of such date.
Year of Service means, for purposes of the definition of Maximum Permissible Benefit, one year (computed to fractional parts of a year) for each Plan Year for which the Participant is credited with Continuous Service for benefit accrual purposes, taking into account only service with the Employer or a Predecessor Employer.
Years of Service under the Prior Plan shall be considered a Year of Service for purposes of this Plan with respect to a Prior Plan Participant, as defined in Section 2.1(b).
Each Employee shall be eligible to receive Employer Matching Contributions based on his or her Employee Elective Deferrals or Employee After-Tax Contributions beginning on the first day of the month (if employed on that date) coinciding with orimmediately following the later of (i) the date the Employee completes one Year of Service or (ii) the date the Employee attains age 21.
Only full twelve (12) month periods shall count as a Year of Service.