Election Changes. The Executive may modify the amount of Deferrals annually by filing a new Deferral Election Form with the Employer. The modified deferral shall not be effective until the calendar year following the year in which the subsequent Deferral Election Form is received by the Employer.
Election Changes. The Director may modify the amount of Fees to be deferred annually by filing a new Election Form A with the Company. The modified deferral shall not be effective until the calendar year following the year in which the subsequent Election Form A is received by the Company. Any changes to the form of benefit payment must be in accordance with Election Form C. Any changes to the Normal Benefit Age or Timing of Payout must be in accordance with Election Form B.
Election Changes. Upon the Bank’s approval, the Director may modify the amount of Compensation to be deferred by filing a new Election Form with the Bank before the beginning of the Plan Year in which the Compensation is to be deferred. The modified deferral election shall not be effective until the calendar year after the year in which the subsequent Election Form is received and approved by the Bank. A deferral election may not be modified and become effective in the same Plan Year except in the event of an Unforeseeable Emergency as provided in Section 1.15 of the Agreement.
Election Changes. Eligible employees may enroll or decline coverage in the Section 125 Plan during the annual open enrollment period. Once a pre-tax election is made, it must remain in effect for the entire plan year. An employee may not drop coverage, change an election, or cease contributions at any time during the plan year unless there is a qualifying change in employment or family status, as defined by the IRS. For any qualifying change in family or employment status, an employee must make the appropriate change in coverage within thirty-one days of the date of the qualifying event. Under the pre-tax insurance premium option, an employee's election for the plan year is automatically continued for the next plan year unless a new election form is submitted.
Election Changes. Eligible employees may enroll or decline coverage in the pre-tax reimbursement plan during the annual open enrollment period. Once a pre-tax election is made, it must remain in effect for the entire plan year. An employee may not drop coverage, change an election, or cease contributions at any time during the plan year unless there is a qualifying change in employment or family status, as defined by the Internal Revenue Service. For any qualifying change in family or employment status, an employee must make the appropriate change in coverage within thirty-one calendar days of the date of the qualifying event. Under the pre-tax insurance premium option, an employee's election for the plan year is automatically continued for the next plan year unless a new election form is submitted.
Election Changes. The Director may modify the amount of Deferrals annually by filing a new Deferral Election Form with the Bank. The modified deferral shall not be effective until the calendar year following the year in which the subsequent Deferral Election Form is received by the Bank.
Election Changes. The Employee may modify the amount of Bonus to be deferred annually by filing a new Deferral Election Form with the Bank. The modified deferral shall not be effective until the calendar year following the year in which the subsequent Deferral Election Form is received by the Bank.
Election Changes. With the Bank’s approval, the Director may modify the amount of Compensation to be deferred by filing a new Election Form with the Bank before the beginning of the Plan Year in which the Compensation is to be deferred. The modified deferral election shall not be effective until the calendar year after the year in which the new Election Form is received and approved by the Bank. A change in the Director’s election to receive benefits either in a lump-sum form or in installments shall not be effective unless (a) it is submitted at least one year before benefits would otherwise commence or be paid, (b) it does not take effect until at least 12 months elapse, and (c) the first benefit payment is delayed for at least an additional five years beyond the date the payment otherwise would have been made.
Election Changes. If Section A.3.4(A)(2) is checked, the Participant shall be permitted to enter into a new salary reduction agreement (check one):
(1) Monthly [ ] (2) Quarterly [ ] (3) Semi-Annually [ ] (4) Annually [ ] (5) Other (Specify): [ ] A salary reduction agreement shall remain in effect until revoked or changed.
Election Changes. When approved, an employee shall be permitted to change the method of expense payment during the employee’s scheduled workweek for a day, or days, when existing conditions, such as inclement weather or extended work shifts warrant such a change. Board and lodging may be furnished instead of mileage reimbursement for temporary locations with reimbursable mileage over ten (10) miles with District Manager’s/Director’s approval.
