IRREVOCABILITY OF ELECTIONS. A Participant may file a written election form with the Administrator before the end of the current Plan Year revising the rate of his contributions or discontinuing such contributions effective as of the first day of the next following Plan Year. The Participant’s Elective Contributions will automatically terminate as of the date his employment terminates. Except as provided in this Section 4.02 and Section 4.03, a Participant’s election under the Plan is irrevocable for the duration of the plan year to which it relates. The exceptions to the irrevocability requirement which would permit a mid-year election change in benefits and the salary reduction amount elected are set out in the Treasury regulations promulgated under Code Section 125, which include the following:
IRREVOCABILITY OF ELECTIONS. Marathon’s elections as set forth in an Ashland Put Price Election Notice shall be irrevocable upon Ashland’s receipt of such Ashland Put Price Election Notice; provided that at any time prior to the date that is ten Business Days prior to the Closing Date (or applicable Installment Payment Date) Marathon shall have the right to change a previous election to pay part of the Ashland Put Price (or applicable Installment Payment) in Securities to an election to pay a greater portion of or the entire Ashland Put Price (or applicable Installment Payment) in Cash, or to change a previous election to pay the Ashland Put Price in installments to an election to pay the entire or remaining Ashland Put Price on the Closing Date (or applicable Installment Payment Date).
IRREVOCABILITY OF ELECTIONS. Except as described in this Article, a Participant’s election under the Plan is irrevocable for the duration of the Period of Coverage to which it relates. Unless an exception applies, the Participant may not change any elections for the duration of the Period of Coverage regarding: • participation in this Plan; or • Salary Reduction amounts.
IRREVOCABILITY OF ELECTIONS. A Participant may file a written election form with the Administrator before the end of the current Plan Year revising the rate of his contributions or discontinuing such contributions effective as of the first day of the next following Plan Year. The Participant’s Elective Contributions will automatically terminate as of the date his employment terminates. Except as provided in this Section 4.02 and Section 4.03, a Participant’s election under the Plan is irrevocable for the duration of the plan year, which relates. The exceptions to irrevocability requirement which would permit a mid-year election change in the benefits and salary reduction amount elected are set out in the Treasury regulations promulgated under Code Section 125, which include the following:
(a) Change in Status. A Participant may file change or revoke his election under the Plan upon the occurrence of a valid change in status, in accordance with the Treasury regulations promulgated under Section 125. The change in the status rules do not apply to Medical Expense Reimbursement Plan, or may be modified with respect to the Medical Expense Reimbursement Plan, if the Plan is being administered by a Recordkeeper other then the Employer, unless the Employer and the Recordkeeper otherwise agree in writing. The Employer, in its sole discretion as Administrator, shall determine whether a requested change is on account of and consistent with a change in status, as follows: Change in Employee’s legal marital status, including marriage, divorce, death of spouse, legal separation, and annulment;
(1) Change in Employee’s legal martial status, including marriage, divorce, death of a spouse, legal separation, and annulment;
(2) Change in number of Dependents, including birth, adoption, placement for adoption, and death;
(3) Change in employment status, including employment status change affecting benefit eligibility of the Employee, spouse or Dependent, such as termination of commencement or return from an unpaid leave of absence, and a change in worksite. If the eligibility for either the cafeteria Plan or any underlying benefit plans of Employer of the Employee, spouse or Dependent relies on the employment status of that individual, and there is a change in that individual’s employment status resulting in gaining or losing eligibility under the Plan, this constitutes a valid change in status. This category only applies if benefit eligibility is lost or gained as a result of the event. If an Employee t...
IRREVOCABILITY OF ELECTIONS. EXCEPTIONS 10
6.1 Irrevocability of Elections 10
6.2 Procedure for Making New Election If Exception to Irrevocability Applies 10 6.3 Change in Status Defined 11 6.4 Exceptions to Irrevocability Rule for All Benefits 12
6.5 Election Modifications Required by Plan Administrator 17 7.1 Plan Administrator 17 7.2 Powers of the Plan Administrator 18 7.3 Reliance on Participant, Tables, etc. 19
IRREVOCABILITY OF ELECTIONS. A Participant’s election under the Plan is irrevocable for the duration of the Period of Coverage to which it relates unless an exception applies as described in Article VI.
IRREVOCABILITY OF ELECTIONS. Except as provided in Section 4.03, a Participant may not revoke an election after a Period of Coverage has commenced and make a new election with respect to the remainder of the Period of Coverage as described in the SPD.
