For Plan Years. 2016 and 2017 the Employer will pay ninety-five percent (95%) and the employee will pay five percent (5%) of the monthly premium rate as determined by PEBB. For employees who enroll in a medical plan that is at least ten percent (10%) lower in cost than the monthly premium rate for the highest cost plan available to the majority of employees, the Employer shall pay ninety-nine percent (99%) of the monthly premium for PEBB health, vision, dental and basic life insurance benefits and the employee shall pay one percent (1%).
For Plan Years beginning after 1984, a Participant shall not incur a forfeiture until he has five (5) consecutive One-Year Breaks in Service. Notwithstanding the preceding sentence or anything in this Plan to the contrary, a Participant who terminates employment with the Employer pursuant to this Section and receives (or is deemed to receive) a distribution of his Account prior to incurring five (5) consecutive One-Year Breaks in Service for Plan Years beginning after 1984, shall forfeit amounts that are not nonforfeitable immediately subsequent to such distribution. However, if the Participant returns to the employment of the Employer before five (5) consecutive One-Year Breaks in Service for Plan Years beginning after 1984, any amounts so forfeited shall be reinstated to the Participant's Account within a reasonable time after repayment by the Participant of the amount of the distribution. Such repayment must be made
For Plan Years beginning before January 1, 1985, the Participant's post- break Years of Service shall not increase the vesting percentage, if any, in that part of his Employer Contribution Account accrued prior to his one-year Break in Service.
For Plan Years beginning before January 1, 1989, distribution of. the entire interest of each Participant will be made or will commence being made to the Participant not later than April I of the calendar year following the calendar year in which the Participant attains age 70~, or, in the case of an Employee other than a 5% owner, as defined in Code Section 416, April 1 of the calendar year following the year in which he attains age 70 1/2 or retires, whichever is later. For Plan Years beginning after December 31, 1988, distribution of the entire interest of each Participant will be made or will commence being made to the Participant not later than April 1 of the calendar year following the calendar year in which the Participant attains age 70 1/2. If a Participant dies before his interest in the Plan has been distributed to him or if distribution has been commenced to his surviving spouse under one of the methods set forth in subsection (b) above and such surviving spouse dies before the Participant's entire interest has been distributed, the entire interest (or the remaining part of such interest if distribution thereof has commenced) will be distributed within five (5) years after his death (or the death of his surviving spouse). However, the preceding sentence shall not apply if distributions have commenced to the Participant before his death, in which event distributions to the Participant's beneficiary will continue over the period selected by the Participant. Notwithstanding the foregoing, for Plan Years commencing on or after January 1, 1985, the five-year rule does not apply if (i) any portion of the Participant's interest is payable to (or for the benefit of) a designated beneficiary, (ii) the portion of the Participant's interest to which the beneficiary-is entitled will be distributed over the life of the beneficiary (or over a period not extending beyond the life expectancy of the beneficiary), and (iii) the distributions commence no later than one year after the date of the Participant's death (or such later date which the Secretary may, under regulations, prescribe). The Retirement Equity Act of 1984 permits the annual recalculation of the life expectancy of a Participant's and an employee's spouse (other then in the case of a life annuity). Also, the five-year rule does not apply if (i) the portion of the Participant's interest to which the surviving spouse is entitled will be distributed over the life of the surviving spouse (or over a period not extend...
For Plan Years beginning on or after January 1, 1994, any reference in the Plan to the limitation under Section 401(a)(17) of the Internal Revenue Code shall mean the OBRA '93 annual compensation limit set forth in this provision.
For Plan Years beginning before January 1, 2002, the ACPs of all Highly Compensated Employees will be reduced (beginning with the highest of such percentages) to the extent required under Code Section 401(m) and the regulations issued under that section to prevent multiple use of the alternative test described in Code Section 401(k)(3)(A)(ii)(II) and in Code Section 401(m)(2)(A)(ii) in the same Plan Year. The reduction will be treated as an Excess Aggregate Contribution. If the ESOP feature is activated, the multiple use limitation will not apply unless this Plan (or another ESOP maintained by an Affiliate also permits elective deferrals.
For Plan Years. Commencing Before January 1, 2010. For Elective Deferrals made for Plan Years commencing before January 1, 2010, the following rules set forth in this Section 4.4(a) shall apply. As stated in Section 4.2(c), above, as part of his or her Deferral Election Agreement, a Participant shall elect: (a) the date on which distribution of each Sub-Account established for him or her under the Plan is to commence, which date may be no earlier than December 31 of the Plan Year immediately after the Plan Year in which the Compensation deferred under the Deferral Election Agreement would otherwise have been paid to the Participant; and (b) the form of distribution of each such Sub-Account from the available distribution forms set forth below:
For Plan Years. Commencing On and After January 1, 1997. ------------------------------------------------------ Notwithstanding any provision of the Plan to the contrary and subject to Section 6.5(a)(i), the payment of benefits to each Participant, Retirement Participant, Former Participant or Former Retirement Participant shall commence on the April 1st following the later of the calendar year in which the Participant, Retirement Participant, Former Participant or Former Retirement Participant attains the later of age 70-1/2 or the calendar year in which he retires. Such payments shall be made: ((a)) on or before such date; ((b)) beginning by such date, over the life of such Participant, Retirement Participant, Former Participant or Former Retirement Participant or over the lives of the Participant, Retirement Participant, Former Participant or Former Retirement Participant and his Beneficiary; or ((c)) beginning by such date, over a period which may not extend beyond the life expectancy of such Participant, Retirement Participant, Former Participant or Former Retirement Participant and the joint life expectancy of the Participant, Former Participant, Retirement Participant, Former Retirement Participant and his Beneficiary. Notwithstanding the foregoing, the payment of benefits to each Participant who attained age 70-1/2 prior to January 1, 1988 and is not a Five Percent Owner (as defined in Section 11.1(c)) shall commence on the later of the April 1st following the taxable year in which (i) he attains age 70-1/2 or (ii) he retires.
For Plan Years. 2016 and 2017 the Employer will pay ninety-five percent (95%) and the employee will pay five percent (5%) of the monthly premium rate for PEBB health, vision, dental and basic life insurance benefits.
