Default Election. In the event that a Participant does not make an initial election to direct investments, his (1) Account balance, (2) share of future allocations of Company contributions (3) share of future forfeitures, and (4) future After-tax Savings and Section 401(k) Contributions, shall be invested in the Fund(s) determined in the sole discretion of the Committee until an election is made pursuant to this Article.
Default Election. (a) Each Market Participant that is a Scheduling Coordinator, a CRR Holder, a Candidate CRR Holder, or a PTO will make an election of either option 1 or option 2 under this Section 11.29.17.2.4, which will be the Market Participant’s Default Election until such time as a subsequent change by the Market Participant of its Default Election from option 1 to option 2 (or vice versa) goes into effect. Each Market Participant that is a Scheduling Coordinator, a CRR Holder, a Candidate CRR Holder, or a PTO shall make only a single Default Election regardless of whether that Market Participant has multiple effective contracts with the CAISO that cause the entity to be a Market Participant. For example, an entity that has signed a Scheduling Coordinator Agreement and a CRR Entity Agreement shall only make a single Default Election.
Default Election. X The default election under the Plan is that no organization or other entity that is under “common control” with the Plan Sponsor (as determined by the Plan Sponsor in accordance with Section 414(c) of the Internal Revenue Code and any applicable Internal Revenue Service guidance thereunder) shall participate in this Plan as a Participating Affiliate. In lieu of the default election, the Plan Sponsor may elect to permit some or all Internal Revenue Code Section 501(c)(3) organizations with which it is under common control to participate as Participating Affiliates under this Plan as follows: OPTIONAL ELECTION: (check if elected): The Plan Sponsor elects to include under this Plan the Participating Affiliates listed on Schedule F, which shall each be considered an Employer under the Plan. The Plan Sponsor warrants that it has determined with its independent counsel that the Plan Sponsor and such Participating Affiliates are under “common control” within the meaning of Section 414(c) of Internal Revenue Code and any applicable Internal Revenue Service guidance thereunder. The Plan Sponsor assumes full responsibility for such designation Note: The Plan Sponsor must enclose proof of any Participating Affiliate’s tax-exempt status under Section 501(c)(3) of the Internal Revenue Code.
Default Election. X The default election under the Plan is that all Employees who are at least age twenty one (21) shall be Eligible Employees. Notwithstanding the default election, the Plan Sponsor may elect to exclude certain classes of Employees as follows
Default Election. X The default election under the Plan is that the Plan permits coverage of the Spouse and any Dependent Child of the Participant, provided they meet all applicable eligibility requirements and are properly designated by the Participant. In addition to the default election, the Plan Sponsor may elect to permit coverage of certain other family members of the Participant as follows:
Default Election. The default election under the Plan is that, once an Employee is hired, the Employer will commence making Employer Contributions to the Plan on behalf of such Employee on the date he or she becomes an Eligible Employee. In lieu of the default election, the Plan Sponsor may elect that Employer Contributions will commence based upon an attained age as follows: OPTIONAL ELECTION: (check if elected): X The Plan Sponsor elects that, once an Employee is hired, the Employer will commence making Employer Contributions to the Plan on behalf of such Employee on the later of the date he or she becomes an Eligible Employee and attains age (must be no greater than age 40). Note: If Employer Contributions will commence based upon age (the optional election), the Plan Sponsor represents that it has consulted with its own legal counsel, has performed necessary nondiscrimination testing at its own expense, will perform additional tests as required on an ongoing basis, and assumes full responsibility for its election.
Default Election. The default election under the Plan is that the Employer will cease making Employer Contributions to a Participant’s Employer-Contribution Account as of the date the Participant ceases to be employed by the Employer. In lieu of the default election, the Plan Sponsor may elect that the Employer will cease making Employer Contributions at a different time as follows: OPTIONAL ELECTION: The Plan Sponsor elects that (if elected, check only one): X The Employer will cease making Employer Contributions to a Participant’s Employer-Contribution Account as of the date when the Employer has made Employer Contributions to the Participant’s Employer-Contribution Account for
Default Election. X The default election under the Plan is that the Plan will permit voluntary Employee After-Tax Contributions (the Plan Sponsor must execute the Employee After-Tax Contribution VEBA Trust Agreement with Fidelity Management Trust Company). In lieu of the default election, the Plan Sponsor may elect to not permit Employee After-Tax Contributions as follows: OPTIONAL ELECTION: (check if elected): The Plan Sponsor elects that the Plan will not permit voluntary Employee After-Tax Contributions.
Default Election. The default election under the Plan is that the amount of after-tax payroll deductions is determined as a percentage of W-2 wages on an after-tax basis (“Compensation”), based on the Participant’s election in specific multiples of one percent (1%). In lieu of the default election, the Plan Sponsor may elect to permit after- tax payroll deductions to be made as follows: OPTIONAL ELECTION: (if elected, check only one): The Plan Sponsor elects the default election but limits the percentage of Compensation to % (enter a whole number) of Compensation. X Minimum contribution of $10.00 per pay period. The Plan Sponsor elects to limit the method for Participants to make after-tax payroll deductions to specific whole dollar amounts (e.g., $50 per payroll period).
Default Election. The default election under the Plan is that a Participant shall not have to satisfy any requirements to avoid forfeiture of his or her Employer- Contribution Account upon ceasing employment with the Employer. Note: This preserves the Participant’s Employer-Contribution Account to be used for Reimbursement Benefits even if he or she fails to qualify for Health Insurance Coverage under the Plan. In lieu of the default election, the Plan Sponsor may elect to subject each Participant’s Employer-Contribution Account to the following: OPTIONAL ELECTION: The Plan Sponsor elects that (check if elected): X A Participant who has satisfied the standard for “Retirement Eligibility” (see Section VII of the Adoption Agreement below) will avoid forfeiture of his or her Employer-Contribution Account upon cessation of employment. If a Participant has not satisfied the standard for Retirement Eligibility, the Participant will avoid forfeiture of his or her Employer- Contribution Account upon cessation of employment with the Employer only if he or she has performed at least
