Examples of Years of Participation in a sentence
If the Participant has less than ten (10) Years of Participation in the Plan, the Defined Benefit Dollar Limitation shall be multiplied by a fraction (i) the numerator of which is the number of Years, or part thereof, but not less than one (1) year, of Participation in the Plan, and (ii) the denominator of which is ten (10).
The intent of the Years of Participation Rule is to promote timely progress toward graduation by discouraging students from delaying or interrupting their high school education; to disallow students to enroll for one semester each school year to increase athletic ability and skill; to promote equality of competition; to diminish risks stemming from unequal competition; and to place emphasis on the academic mission of the school.
In addition, a Participant may not be required to complete more than 35 Years of Participation to earn his/her full Stated Benefit.
A Participant’s vested percentage with respect to the Participant’s Company Account, adjusted by any income, gain or loss and any payments attributable thereto, shall be the lesser of i) twenty percent times the Participant’s Years of Participation, and ii) 100%.
However, the Plan does not violate the uniform Automatic Deferral Percentage merely because the Plan applies any of the following provisions: (i) Years of Participation.