Participation Upon Reemployment. A Participant whose employment terminates, and who is subsequently reemployed as an eligible Worker Member, shall re-enter the Plan as a Participant on the date of his reemployment. In the event that a Worker Member satisfies the eligibility requirements set forth in Section 4.1 above, his employment terminates prior to becoming a Participant and he is subsequently reemployed, such Worker Member shall be deemed to have met the eligibility requirements as of the date of his reemployment and shall become a Participant on the date of his reemployment; provided, however, that if he is reemployed prior to the date he would have become a Participant if his employment had not terminated, he shall become a Participant as of the date he would have become a Participant if his employment had not terminated. Notwithstanding any provision of the Plan, a Participant or a Worker Member who terminates employment with the Company and Related Companies or otherwise becomes ineligible to participate in the Plan and is later reemployed or otherwise becomes a Worker Member on or after June 1, 2011, shall be deemed to have elected to resume participation in the Plan for purposes of Section 7.1 pursuant to an Automatic Contribution Arrangement as of the 60th day following the date he again becomes an eligible Worker Member; provided, however, that by such date he has not made an affirmative written election, in accordance with the procedures established by the Administrative Committee, to make Deferral Contributions to the Plan or not to have any Deferral Contributions made to the Plan on his behalf. Any other Worker Member whose employment terminates and who is subsequently reemployed shall become a Participant in accordance with the provisions of Section 4.1. Notwithstanding the foregoing, a Worker Member who terminated service on or before September 30, 1976, shall not receive credit for any prior service under the Plan and shall be treated as a new Worker Member. Notwithstanding the foregoing and any other provision in the Plan to the contrary, with respect to Section 7.3 of the Plan, any Worker Member who terminates employment subsequent to December 31, 2002 and is later reemployed shall no longer be eligible for a Grandfathered Contribution under Section 7.3(a) of the Plan.
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Participation Upon Reemployment. A Participant whose employment terminates(a) Unless specified otherwise in the adoption agreement, this Plan shall not utilize any special break in service rules dealing with the Participation of reemployed Participants. Therefore, former employees who were Participants in this Plan and who is subsequently are reemployed as an eligible Worker Member, shall reimmediately be Participants again and all pre-enter the Plan as a Participant on break service shall be credited for purposes of determining the date of Participation for all employees who never were Participants.
(b) If the adoption agreement specifies that the Break in Service rules shall apply for Participation then, except as provided in subsections (c), (d) and (e) below, all service will be taken into account in determining a Participant's Years of Eligibility Service.
(c) In computing an Employee's Years of Eligibility Service, in the case of any Participant who has any One Year Break in Service, service before such break shall not be taken into account until he or she has completed a Year of Eligibility Service after his or her return. If a former Participant completes a Year of Eligibility Service in accordance with this provision, his or her Participation will be reinstated as of the date of reemployment. In If he shall fail to complete one Year of Eligibility Service, any Employer contribution allocated to the event that a Worker Member satisfies Participant following the eligibility requirements set forth in Section 4.1 above, his employment terminates prior to becoming a Participant and he is subsequently reemployed, such Worker Member reemployment date shall be deemed to have met the eligibility requirements as been made by mistake and shall be considered to be an advance contribution of the date Employer for the next succeeding Plan Year.
(d) In computing an Employee's Years of his reemployment and shall become a Participant on the date of his reemployment; providedEligibility Service, however, that if he is reemployed prior to the date he would have become a Participant if his employment had not terminated, he shall become a Participant as of the date he would have become a Participant if his employment had not terminated. Notwithstanding any provision of the Plan, a Participant or a Worker Member who terminates employment with the Company and Related Companies or otherwise becomes ineligible to participate in the Plan and case of any participant whose Regular Account is later reemployed not vested to any extent, Years of Eligibility Service before any period of consecutive One Year Breaks in Service will be taken into account only if the number of consecutive One Year Breaks in Service within such period is less than the greater of: (1) 5, or otherwise becomes (2) the aggregate number of Years of Eligibility Service before such break.
(e) In the event that the Vesting Schedule in section 6.2 provides for a Worker Member on vested percentage of one hundred percent (100%) for any Participant with three or after June 1more Years of Vesting Service, 2011, shall be deemed to have elected to resume participation in the Plan then for purposes of Section 7.1 pursuant to computing an Automatic Contribution Arrangement as Employee's Years of the 60th day following the date he again becomes an eligible Worker Member; providedEligibility Service, however, that by if such date he Employee has not made an affirmative written electionsatisfied service requirements, if any, set forth in accordance with the procedures established by the Administrative Committeeadoption agreement section 3.2 prior to such One Year Break in Service, to make Deferral Contributions to the Plan or service before such break will not to have any Deferral Contributions made to the Plan on his behalf. Any other Worker Member whose employment terminates and who is subsequently reemployed shall become a Participant in accordance with the provisions of Section 4.1. Notwithstanding the foregoing, a Worker Member who terminated service on or before September 30, 1976, shall not receive credit for any prior service under the Plan and shall be treated as a new Worker Member. Notwithstanding the foregoing and any other provision in the Plan to the contrary, with respect to Section 7.3 of the Plan, any Worker Member who terminates employment subsequent to December 31, 2002 and is later reemployed shall no longer be eligible for a Grandfathered Contribution under Section 7.3(a) of the Plantaken into account.
Appears in 1 contract
Samples: Adoption Agreement for Qualified Profit Sharing and 401(k) Plan (Modern Controls Inc)
Participation Upon Reemployment. A Participant whose employment terminates, and who is subsequently reemployed as If an eligible Worker Member, shall re-enter Employee was a participant in the ACCG Plan as a Participant on the date of his reemployment. In the event that a Worker Member satisfies the eligibility requirements set forth in Section 4.1 above, his employment terminates Severance from Service Date occurring prior to becoming a Participant and he is subsequently reemployedJanuary 1, such Worker Member shall be deemed to have met the eligibility requirements as of the date of his reemployment and shall become a Participant on the date of his reemployment; provided2007, however, that if he is reemployed on or before December 31, 2007 and has not incurred a one-year Break in Service, the applicable situation will apply:
(a) If the terminated Employee left his Employee Contributions in the ACCG Plan, the Employee will be required to reenter the plan under the Schedule he was participating in upon termination.
(b) If the terminated Employee withdrew his Employee Contributions from the ACCG Plan and did not have full-time service credit prior to the date he would have become a Participant if his employment had not terminatedApril 1, 1995, he shall become a Participant as of the date he would have become a Participant if his employment had not terminated. Notwithstanding any provision of the Plan, a Participant or a Worker Member who terminates employment with the Company and Related Companies or otherwise becomes ineligible be eligible to participate in the Plan and shall be eligible to participate in the Defined Contribution Plan. If his Accrued Benefit is later reemployed less than or otherwise becomes a Worker Member on or after June equal to $5,000 and the Employee had full-time service credit under the ACCG Plan prior to April 1, 20111995, the present value of the Employee’s Accrued Benefit from the date of hire to March 31, 1995 will be transitioned to the Defined Contribution Plan within a reasonable amount of time determined by the County.
(c) If the terminated Employee withdrew his Employee Contributions from the ACCG Plan and had full-time service credit prior to April 1, 1995, he shall be deemed eligible to have elected to resume participation accrue additional Credited Service in the Plan for purposes of Section 7.1 pursuant to an Automatic Contribution Arrangement as of the 60th day following the date his Reemployment Commencement Date provided he again becomes an eligible Worker Member; provided, however, that by such date he has not made an affirmative written election, in accordance with the procedures established by the Administrative Committee, to make Deferral repays his Employee Contributions to the Plan or not to have any Deferral Contributions made to the Plan on his behalf. Any other Worker Member whose employment terminates and who is subsequently reemployed shall become a Participant in accordance with the provisions of Section 4.1. Notwithstanding the foregoing, a Worker Member 4.04.
(d) A Participant who terminated service terminates employment on or before September 30after January 1, 19762007 will not be eligible to reenter the Plan upon reemployment. Such Employee will be entitled to participate in the Defined Contribution Plan upon meeting such plan’s eligibility conditions, shall not receive credit for any prior service and his benefit under the Plan will be determined using Compensation and shall be treated as a new Worker Member. Notwithstanding the foregoing and any other provision in the Plan Service to the contrarydate of his first termination of employment that occurs on or after January 1, with respect to Section 7.3 of the Plan, any Worker Member who terminates employment subsequent to December 31, 2002 and is later reemployed shall no longer be eligible for a Grandfathered Contribution under Section 7.3(a) of the Plan2007.
Appears in 1 contract
Samples: Defined Benefit Plan
Participation Upon Reemployment. A (a) In the case of an Employee whose prior participation in the Plan terminated under the provisions of Section 2.02 with credit for Vested Benefits, or who returns to Covered Employment before incurring a One Year Break in Service, such Employee shall again become a Participant in the Plan as of the first date upon which such Employee performs Covered Employment after his reemployment, provided that he is then otherwise eligible to participate in the Plan under the provisions of this Article. Such subsequent period of participation shall continue until the same is terminated under the provisions of Section 2.02.
(b) An Employee whose employment terminatesprior participation in the Plan terminated under the provisions of Section 2.02 without credit for Vested Benefits, and who is subsequently reemployed as an eligible Worker Memberreturns to Covered Employment after incurring a One Year Break in Service, shall re-enter be eligible to participate as follows:
(1) Such Employee shall not be eligible to participate in the Plan as until such Employee is credited with 200 or more Hours of Service in Covered Employment and/or Contiguous Noncovered Employment during a Participant computation period beginning on or after his reemployment commencement date.
(2) The first computation period to be considered for purposes of this paragraph (b) shall be the computation period beginning on the Employee’s reemployment commencement date. An Employee’s reemployment commencement date is the first day for which the Employee is entitled to be credited with an Hour of his reemploymentService in Covered Employment or Contiguous Noncovered Employment following the Plan Year in which the Employee was first charged with a One Year Break in Service. In the event that a Worker Member satisfies the eligibility requirements set forth in Section 4.1 aboveEmployee fails to complete 200 or more Hours of Service during such initial computation period, his employment terminates prior to becoming a Participant and he is subsequently reemployedthe computation period shall coincide with the Plan Year, such Worker Member shall be deemed to have met beginning with the eligibility requirements as Plan Year which includes the first anniversary of the date Employee’s reemployment commencement date.
(3) Subject to the provisions of his reemployment and subparagraph (4), the Employee shall become a Participant on in the date of his reemployment; provided, however, that if he is reemployed prior to the date he would have become a Participant if his employment had not terminated, he shall become a Participant Plan as of the date he would have become a Participant if his employment had not terminated. Notwithstanding any provision Entry Date next following the Employee’s completion of the Planperiod of service specified in this paragraph (b), a Participant or a Worker Member who terminates employment with provided that the Company Employee is employed in Covered Employment on such Entry Date, and Related Companies or further provided that he is then otherwise becomes ineligible eligible to participate in the Plan and under the provisions of this Article. Such subsequent period of participation shall continue until the same is later reemployed or otherwise becomes a Worker Member on or after June 1, 2011, shall be deemed to have elected to resume participation in the Plan for purposes of Section 7.1 pursuant to an Automatic Contribution Arrangement as of the 60th day following the date he again becomes an eligible Worker Member; provided, however, that by such date he has not made an affirmative written election, in accordance with the procedures established by the Administrative Committee, to make Deferral Contributions to the Plan or not to have any Deferral Contributions made to the Plan on his behalf. Any other Worker Member whose employment terminates and who is subsequently reemployed shall become a Participant in accordance with terminated under the provisions of Section 4.1. Notwithstanding 2.02.
(4) In the foregoingcase of an Employee whose number of consecutive One Year Breaks in Service does not equal or exceed the greater of five (5) or the aggregate number of Years of Service credited prior to the Employee’s break in service, a Worker Member who terminated service on or before September 30, 1976, shall not receive credit such Employee’s re-eligibility for any prior service under the Plan and participation shall be treated as a new Worker Member. Notwithstanding retroactive to his reemployment commencement date upon satisfaction of the foregoing service requirement specified in this paragraph (b), provided that the Employee is employed in Covered Employment on the date he completes the period of service specified in this paragraph (b), and any other provision further provided that he is then otherwise eligible to participate in the Plan to under the contrary, with respect to provisions of this Article. Such subsequent period of participation shall continue until the same is terminated under the provisions of Section 7.3 of the Plan, any Worker Member who terminates employment subsequent to December 31, 2002 and is later reemployed shall no longer be eligible for a Grandfathered Contribution under Section 7.3(a) of the Plan2.02.
Appears in 1 contract
Samples: Pension Plan