For Plan Years Sample Clauses

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%).
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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 f or 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 (a) in the case of a payment on account of separation from service before the earlier of (i) five (5) years after the first date on which the Participant is subsequently re-employed by the Employer, or (ii) the close of the first period of five (5) consecutive One-Year Breaks in Service commencing after the withdrawal; or (b) in the case of any other withdrawal, within five (5) years after the date of withdrawal. For purposes of this Section, if the value of an Employee's vested Account balance is zero, the Employee shall be deemed to have received a distribution of such vested Account balance. If an Employee is deemed to receive a distribution pursuant to the preceding sentence and the Employee resumes employment covered under this Plan before the date the Participant incurs five (5) consecutive One-Year Breaks in Service, upon the re-employment of such Employee, the Employer-derived Account balance of the Employee will be restored to the amount on the date of such deemed distribution. A Participant's vested Account balance shall not include accumulated deductible Employee contributions within the meaning of Code Section 72(o) (5) (B) for Plan Years beginning prior to January 1,1989. Notwithstanding anything in this Plan and Trust to the contrary, to reinstate the Participant's Account, the Trustee, to the extent necessary, shall allocate to the Participant's Account (a) first, the amount, if any, of Participant forfeitures for the Plan Year which would otherwise be allocated under the Allocation of Contributions and Forfeiture Section; and (b) second, t...
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 YearsCommencing 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 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. Section 8.1 is amended to read as follows:
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 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.
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Related to For Plan Years

  • 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.

  • Elective Deferrals Any Employer contributions made to the Plan at the election of the Participant, in lieu of cash compensation, and shall include contributions made pursuant to a salary reduction agreement or other deferral mechanism. With respect to any taxable year, a Participant's Elective Deferral is the sum of all employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement as described in section 401(k) of the Code, any salary reduction simplified employee pension described in section 408(k)(6), any SIMPLE IRA Plan described in §408(p), , any plan as described under section 501(c)(18), and any employer contributions made on the behalf of a Participant for the purchase of an annuity contract under section 403(b) pursuant to a salary reduction agreement. Elective Deferrals shall not include any deferrals properly distributed as excess annual addition. For years beginning after 2005, the term “elective Deferrals” includes Pre-tax Elective Deferrals and Xxxx Elective Deferrals. Pre-tax Elective Deferrals are a participant’s Elective Deferrals that are not includible in the participant’s gross income at the time deferred. The Employer may, if notification is made within a reasonable time and in a manner described in IRS Revenue Ruling 2000-8, 2000-7 IRB617, allow for negative elections. If such administrative provision applies and the Employee does not affirmatively elect to not participate and the Employee does not affirmatively elect a different amount (including no amount), a default amount shall be deducted from the Employee’s Compensation. Such default amount shall be part of the initial notification received by the Employer. If negative elections apply under the Plan, the Employer shall indicate whether the default shall be a pre-tax Elective Deferral or a Xxxx Elective Deferral in the Adoption Agreement.

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Years of Service A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Highly Compensated Employee The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.

  • PERIOD OF SERVICE The Grant Services will commence on the Start Date and shall expire on the End Date as set forth in the SUMMARY PAGE.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

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