Severance from Employment means severance from employment with the Employer and any Related Entity. However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).
Severance from Employment means the severance of the Participant’s employment with the City. A Participant shall be deemed to have severed his or her employment with the City when, in accordance with the established practices of the City, the employment relationship is considered to be terminated.
Severance from Employment means that the employee ceases to be employed by the employer maintaining the plan. See regulations under section 401(k) for additional guidance concerning severance from employment. See also §1.403(b)- 6(h) for a special rule under which severance from employment is determined by reference to employment with the eligible employer.
Examples of Severance from Employment in a sentence
A transfer under this Section 6.5(a) may be made before the Participant has had a Severance from Employment.
However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).
For purposes of this paragraph, a Participant shall be treated as having a Severance from Employment during any period the Participant is performing service in the uniformed services described in section 3401(h)(2)(A) of the Code.
For purpose of the Plan, Severance from Employment means that the Employee ceases to be employed by the Employer maintaining the Plan or a Related Employer that is eligible to maintain a section 403(b) Plan.
A transfer under this Section 8.05(a) may be made before the Participant has had a Severance from Employment.
More Definitions of Severance from Employment
Severance from Employment or “Severs from Employment” means a severance from employment with the Employer within the meaning of Section 457 of the Code.
Severance from Employment means the date on which the Participant dies, retires or otherwise has a severance from employment with the Employer as determined by the Board. Except in case of death of the Participant, such severance shall mean the absence of any employment in any capacity (Employee or Independent Contractor) with a covered Employer.
Severance from Employment means the earlier of (a) the date an Employee dies or retires, quits or is discharged from the Employer and all Affiliates, or (b) the first anniversary of the date that the Employee is otherwise first absent from work from the Employer and all Affiliates (with or without pay) for any reason; provided, however, that if the Employee’s absence is attributable to qualified military service, the Employee shall not be considered to have had a Severance from Employment provided the absent Employee returns to active employment with the Employer or Affiliate. Notwithstanding the foregoing, however, the Severance from Employment of a Participant who incurs a Total Disability shall be the earlier of:
Severance from Employment means that the employee ceases to be em- ployed by the employer maintaining the plan. See § 1.401(k)–1(d) for addi- tional guidance concerning severance from employment. See also § 1.403(b)– 6(h) for a special rule under which sev- erance from employment is determined by reference to employment with the eligible employer.
Severance from Employment means the date that the Employee dies, retires, or otherwise has a severance from employment with the Employer, as determined by the Administrator (and taking into account guidance issued under the Code). Solely for the purpose of determining whether the Participant is entitled to receive a distribution of his or her Account Balance pursuant to Section 6.2, a Participant shall be treated as having incurred a severance from employment during any period the Participant is performing service in the uniformed services (as defined in chapter 43 of title 38, United States Code) while on active duty for a period of more than 30 days. The "State" means the State that is the Employer or of which the Employer is a political subdivision, and any agency, or instrumentality, including any agency or instrumentality of a political subdivision of the State, or the State in which the Employer is located. The "Trust Fund" means the trust fund created under and subject to a trust agreement or a custodial account or contract described in Code Section 401(f) held on behalf of the Plan.The "Valuation Date" means each business day.
Severance from Employment means when the Employee ceases to be an Employee of the Employer maintaining this Plan. An Employee does not have a Severance from Employment if, in connection with a change of employment, the Employee’s new employer maintains such plan with respect to the Employee.
Severance from Employment means severance of a Participant's employment with the Employer for any reason, including retirement, within the meaning of Code Section 402(e)(4)(D)(i)(III). A Participant shall be deemed to have severed employment with the Employer for purposes of the Plan when, in accordance with the established personnel practices of the Employer, the employment relationship is considered actually terminated. However, Severance From Employment for an independent contractor occurs when (a) at least 12 months have expired since the date on which the last contract, pursuant to which the independent contractor provided any service to the Employer, was terminated, and (b) the independent contractor has not performed services for the Employer during that 12-month period.