Eligibility Computation Periods Sample Clauses

Eligibility Computation Periods. For purposes of eligibility for participation, the initial computation period shall begin with the date on which the Employee first performs an Hour of Service. If any Employer becomes an Affiliate by reason of acquisition, the initial computation period shall begin with the date on which the Employee first performed an Hour of Service with the acquired Employer, unless otherwise specified in the Adoption Agreement. The eligibility computation period beginning after a one-year Break-in-Service shall be measured from the date on which an Employee again performs an Hour of Service. If Breaks-in-Service and Years of Service are computed under the 1,000 Hours of Service Method, then the eligibility computation period shall shift to the Plan Year which includes the first anniversary of the date on which the Employee first performed an Hour of Service. An Employee who is credited with the required Hours of Service (as set forth in the Adoption Agreement) in both the initial computation period (or the computation period beginning after a one-year Break-in-Service) and the Plan Year which includes the first anniversary of the date on which the Employee first performed an Hour of Service, shall be credited with two (2) Years of Service for purposes of eligibility to Participate. If Breaks-in-Service and Years of Service are computed under the Elapsed Time Method, then subsequent computation periods shall begin on the anniversary date of the initial computation period.
AutoNDA by SimpleDocs
Eligibility Computation Periods. For purposes of determining Years of Service under this Article, an Employee’s initial Eligibility Computation Period is the 12-month period beginning on the Employee’s Employment Commencement Date. If one Year of Service is required for eligibility, and the Employee is not credited with a Year of Service for the first Eligibility Computation Period, subsequent Eligibility Computation Periods are calculated under the Shift-to-Plan-Year Method, unless the Employer elects under Part 7, #24.a. of the Agreement [Part 7, #42.a. of the 401(k) Agreement] to use the Anniversary Year Method. If two Years of Service are required for eligibility, subsequent Eligibility Computation Periods are measured on the Anniversary Year Method, unless the Employer elects under Part 7, #24.b. of the Agreement [Part 7, #42.b. of the 401(k) Agreement] to use the Shift-to-Plan-Year Method. In the case of a 401(k) Agreement in which a two Years of Service eligibility condition is used for either Employer Matching Contributions or Employer Nonelective Contributions, the method used to determine Eligibility Computation Periods for the two Years of Service condition also will apply to any one Year of Service eligibility condition used with respect to any other contributions under the Plan.
Eligibility Computation Periods. Unless provided otherwise under AA §4-3, in determining whether an Employee has earned a Year of Service for eligibility purposes, an Employee’s initial Eligibility Computation Period is the 12-month period beginning on the Employee’s Employment Commencement Date. Subsequent Pre-Approved Governmental Defined Contribution Plan Section 2Eligibility and Participation Eligibility Computation Periods will either be based on Plan Years or Anniversary Years (as set forth in AA §4- 3).
Eligibility Computation Periods. (a) For purposes of determining Years of Service and Breaks in Service for purposes of eligibility, the initial eligibility computation period is the twelve (12)- consecutive month period beginning on the date the Employee first performs an Hour of Service for the Employer (employment commencement date). The succeeding twelve (12)-consecutive month periods commence with the first Plan Year which commences prior to the first anniversary of the Employee's employment commence ment date regardless of whether the Employee is entitled to be credited with 1,000 Hours of Service during the initial eligibility computation period. An employee who is credited with 1,000 hours of service in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's initial eligibility computation period will be credited with two Years of Service for purposes of eligibility to participate.
Eligibility Computation Periods. For purposes of determining the eligibility of an Employee to participate in the Plan, the Employee's initial eligibility computation period which shall be used to measure the Employee's Years of Service and Breaks in Service shall be the 12-consecutive month period beginning on the date the Employee first performs an Hour of Service for the Employer (the Employee's "employment commencement date"). The Employee's subsequent eligibility computation periods shall be the 12-consecutive month periods beginning on each anniversary of the Employee's employment commencement date.
Eligibility Computation Periods 

Related to Eligibility Computation Periods

  • Election Period The period which begins on the first day of the Plan Year in which the Participant attains age thirty-five (35) and ends on the date of the Participant’s death. If a Participant separates from Service prior to the first day of the Plan Year in which age thirty-five (35) is attained, the Election Period shall begin on the date of separation, with respect to the account balance as of the date of separation.

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!