Plan Vesting. Upon completion of ten (10) continuous years of service with Corporation, a teacher shall be 100% fully vested in his/her Matching 401(a) Plan account. Prior to the completion of this requirement, a teacher is not even partially vested in his/her Matching 401(a) Plan account and a teacher shall have no access to the assets held in his or her separate Matching 401(a) Plan account. For these purposes, “continuous years of service” means the number of consecutive years of employment as a certified employee in Corporation. Approved leaves of absences not exceeding one (1) year shall not be considered to be a break in continuous employment for the purpose of determining “continuous years of service”. A certified employee on an approved leave of absence will not receive completed years of service credit for vesting purposes for the time of the approved leave.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Employment Agreement
