Last Day Rule. In order to be eligible for holiday pay, an employee must be in a pay status on the last regularly scheduled working day immediately before or on the first regularly scheduled day immediately after the holiday. If a new employee or an employee returning from unpaid status or layoff reports to work on a day following the holiday, the employee will not receive compensation for the holiday except as provided for herein.
Last Day Rule. Will Participants be required to be in employment on the last day of a Plan Year to share in the Employer contributions (and forfeited Suspense Accounts, if any) to be allocated for that Plan Year?(21) EMPLOYER REQUIRED EMPLOYER DISCRETIONARY EMPLOYER DISCRETIONARY MATCHING CONTRIBUTIONS MATCHING CONTRIBUTIONS PROFIT SHARING CONTRIBUTIONS ---------------------- ---------------------- ---------------------------- Yes X Yes X Yes ----- ----- ----- No No No ----- ----- ----- X Not Applicable Not Applicable Not Applicable ----- ----- ----- [Section 3.5]
Last Day Rule. If the Adoption Agreement so provides, the Participant was an Employee on the last day of the Plan Year (including, for this purpose, individuals temporarily absent due to illness, vacation or layoff and individuals inducted into the Armed Forces of the United States during such Plan Year) or the Participant died, became Disabled or retired at or after his Normal Retirement Age during such Plan Year.
