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Common use of SERVICE FOR PREDECESSOR EMPLOYER Clause in Contracts

SERVICE FOR PREDECESSOR EMPLOYER. In any case in which Company maintains a plan of a predecessor employer, service for such predecessor shall be treated as service for Company, and in any case in which Company maintains a plan which is not the plan maintained by a predecessor employer, service for such predecessor shall [as provided in Internal Revenue Code Section

Appears in 2 contracts

Samples: Cash or Deferred Profit Sharing Plan and Trust (PSB Bancorp Inc), Cash or Deferred Profit Sharing Plan and Trust (PSB Bancorp Inc)

SERVICE FOR PREDECESSOR EMPLOYER. In any case in which the Company maintains a plan of a predecessor employer, service for such predecessor shall be treated as service for the Company, and in any case in which the Company maintains a plan which is not the plan maintained by a predecessor employer, service for such predecessor shall [(as provided in Internal Revenue Code SectionSection 414(a) (2)), to the extent required in regulations prescribed by the Secretary of the treasury or his delegate, be treated as service for the Company.

Appears in 1 contract

Samples: Defined Benefit Pension Plan and Trust (PSB Bancorp Inc)