ACCRUAL OF BENEFIT. The Advisory Committee will determine the accrual of benefit (Employer contributions and Participant forfeitures) on the basis of the Plan Year in accordance with the Employer's elections in its Adoption Agreement.
ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any cash or deferred contribution, designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b))
ACCRUAL OF BENEFIT. First Charter may use any reasonable accounting policy in accruing the Benefit, and shall accrue the Benefit on its books on a monthly basis. The amount accrued shall be segregated from other accounts on the books and records of First Charter as a contingent liability of First Charter to the Executive.
ACCRUAL OF BENEFIT. 3.04 3.07-3.16 Limitations on Allocations............................................... 3.05 3.17
ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory Committee will determine the allocation of any cash or deferred contribution, designated qualified nonelective contribution or nonelective contribution by taking into account: (Choose (a) or (b)) [ ] (a) The Employee's Compensation for the entire Plan Year. [X ] (b) The Employee's Compensation for the portion of the Plan Year in which the Employee actually is a Participant in the Plan. Accrual Requirements. Subject to the suspension of accrual requirements of Section 3.06(E) of the Plan, to receive an allocation of cash or deferred contributions, matching contributions, designated qualified nonelective contributions, nonelective contributions and Participant forfeitures, if any, for the Plan Year, a Participant must satisfy the conditions described in the following elections: (Choose (c) or at least one of (d) through (f)) [ ] (c) Safe harbor rule. If the Participant is employed by the Employer on the last day of the Plan Year, the Participant must complete at least one Hour of Service for that Plan Year. If the Participant is not employed by the Employer on the last day of the Plan Year, the Participant must complete at least 501 Hours of Service during the Plan Year. [X ] (d) Hours of Service condition. The Participant must complete the following minimum number of Hours of Service during the Plan Year: (Choose at least one of (1) through (5)) [X ] (1) 1,000 Hours of Service. Applies to nonelective contributions and QNECs only. [ ] (2) (Specify, but the number of Hours of Service may not exceed 1,000) . [ ] (3) No Hour of Service requirement if the Participant terminates employment during the Plan Year on account of: (Choose (i), (ii) or (iii)) [ ] (i)
ACCRUAL OF BENEFIT. 14 3.07 Limitations on Allocations to Participants' Accounts........15 3.08 Definitions - Article III...................................16
ACCRUAL OF BENEFIT. 3.04 3.07-3.16 Limitations on Allocations . . . . . . . . . . . . . . 3.05 3.17
ACCRUAL OF BENEFIT. Compensation taken into account. For the Plan Year in which the Employee first becomes a Participant, the Advisory committee will detemine the contribution under Section 3.01, and, if applicable, the allocation under Option (b) of Section 3.05, by taking into account: (Choose (a) or (b))
ACCRUAL OF BENEFIT. For any Plan Year, the Advisory Committee will determine the allocation under Section 3.04 by taking into account a Participant's Compensation for the entire Plan Year. To receive an allocation of Employer contributions (and Participant forfeitures), the Participant: (a) if he is employed by the Employer on the last day after the Plan Year, must complete at least one Hour of Service for that Plan Year, and (b) if he is not employed by the Employer on the last day of the Plan Year, the Participant must complete at least 501 Hours of Service during the Plan year, except there is no Hour of Service requirement if the Participant terminates employment during the Plan year on account of death, disability or attainment of Normal Retirement Age.
ACCRUAL OF BENEFIT. The Advisory Committee will determine the accrual of benefit (Employer contributions and Participant forfeitures) on the basis of the Plan Year. COMPENSATION TAKEN INTO ACCOUNT. In allocating an Employer contribution to a Participant's Account, the Advisory Committee, except for purposes of determining the top heavy minimum contribution under Section 3.04(B), will take into account only the Compensation determined for the portion of the Plan Year in which the Employee actually is a Participant.
