Common use of Special Vesting Requirements Clause in Contracts

Special Vesting Requirements. For any Top-Heavy Plan Year, the vesting schedule shall provide for 100% vesting after three (3) Years of Service unless the vesting schedule in the Adoption Agreement provides for vesting on a schedule which is at least as rapid as required for Top-Heavy plans under Code section 416(b). The minimum vesting schedule applies to all benefits within the meaning of Code section 411(a)(7) except those attributable to Participant contributions (which shall be 100% vested at all times), including benefits accrued before the effective date of Code section 416 and benefits accrued before the Plan became a Top-Heavy Plan. Further, no reduction in vested benefits may occur in the event the Plan's status as a Top-Heavy Plan changes for any Plan Year. However, this Section does not apply to the Employer Account balance of any Employee who does not have one Hour of Service after the Plan has initially become a Top-Heavy Plan; such Employee's vested percentage in his Employer Account shall be determined without regard to this Section.

Special Vesting Requirements. For any Top-Heavy Plan Year, the vesting schedule shall provide for 100% vesting after three (3) Years of Service unless the vesting schedule in the Adoption Agreement provides for vesting on a schedule which is at least as rapid as required for Top-Heavy plans under Code section 416(b). The minimum vesting schedule applies to all benefits within the meaning of Code section 411(a)(7) except those attributable to Participant contributions (which shall be 100% vested at all times), including benefits accrued before the effective date of Code section 416 and benefits accrued before the Plan became a Top-Heavy Plan. Further, no reduction in vested benefits may occur in the event the Plan's ’s status as a Top-Heavy Plan changes for any Plan Year. However, this Section does not apply to the Employer Account balance Balance of any Employee who does not have one Hour of Service after the Plan has initially become a Top-Heavy Plan; such Employee's ’s vested percentage in his Employer Account shall be determined without regard to this Section.

Special Vesting Requirements. For any Top-Heavy Plan Year, the vesting schedule shall provide for 100% vesting after three (3) Years of Service unless the vesting schedule in the Adoption Agreement provides for vesting on a schedule which is at least as rapid as required for Top-Heavy plans under Code section 416(b). The minimum vesting schedule applies to all benefits within the meaning of Code section 411(a)(7) except those attributable to Participant contributions (which shall be 100% vested at all times), including benefits accrued before the effective date of Code section 416 and benefits accrued before the Plan became a Top-Heavy Plan. Further, no reduction in vested benefits may occur in the event the Plan's ’s status as a Top-Heavy Plan changes for any Plan Year. However, this Section does not apply to the Employer Account balance of any Employee who does not have one Hour of Service after the Plan has initially become a Top-Heavy Plan; such Employee's ’s vested percentage in his Employer Account shall be determined without regard to this Section.