Computation Period. A period used for determining Years of Service and Breaks in Service used in calculating the vesting of a Participant. A Year of Service means any twelve (12) consecutive month vesting computation period as elected in the Adoption Agreement during which an Employee completes the number of Hours of Service [not to exceed one-thousand (1,000)] as specified in the Adoption Agreement. If the Plan utilizes the Elapsed Time method of crediting Service, a vesting computation period for which the Employee receives credit for a Year of Service will be determined under the Service crediting rules of paragraph 1.117.
Appears in 8 contracts
Samples: Prototype Defined Contribution Plan (Georgetown Bancorp, Inc.), Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.), Prototype Defined Contribution Plan (FNB United Corp.)
Computation Period. A The vesting computation period used for determining Years of Service and Breaks in Service used in when calculating the vesting of a Participant. A Year of Service Participant means any twelve (12) consecutive month vesting computation period as elected in the Adoption Agreement during which an Employee completes the number of Hours of Service [(not to exceed one-thousand (1,000)] ) as specified in the Adoption Agreement. If Alternatively, if the Plan utilizes elects the Elapsed Time method of crediting Service, a the vesting computation period for which the Employee receives credit for a Year of Service will be determined under the Service crediting rules of paragraph 1.1171.100.
Appears in 7 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Savannah Bancorp Inc)
Computation Period. A The vesting computation period used for determining Years of Service and Breaks in Service used in when calculating the vesting of a Participant. A Year of Service Participant means any twelve (12) consecutive month vesting computation period as elected in the Adoption Agreement during which an Employee completes the number of Hours of Service [(not to exceed one-thousand (1,000)] ) as specified in the Adoption Agreement. If Alternatively, if the Plan utilizes elects the Elapsed Time method of crediting Service, a the vesting computation period for which the Employee receives credit for a Year of Service will be determined under the Service crediting rules of paragraph 1.1171.90.
Appears in 2 contracts
Samples: Participation Agreement (Sterling Chemicals Inc), Sterling Chemicals Inc
Computation Period. A The vesting computation period used for determining Years of Service and Breaks in Service used in when calculating the vesting of a Participant. A Year of Service Participant means any twelve (12) consecutive month vesting computation period as elected in the Adoption Agreement during which an Employee completes the number of Hours of Service [(not to exceed one-thousand (1,000)] ) as specified in the Adoption Agreement. If Alternatively, if the Plan utilizes elects the Elapsed Time method of crediting Service, a the vesting computation period for which the Employee receives credit for a Year of Service will be determined under the Service crediting rules of paragraph 1.1171.107.
Appears in 2 contracts
Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan
