Common use of Timing of Allocation of Forfeitures Clause in Contracts

Timing of Allocation of Forfeitures. If no timely distribution or deemed distribution [pursuant to paragraph 6.5(c) of the Basic Plan Document #01] has been made to a former Participant, non-vested portions shall be forfeited at the end of the Plan Year during which the former Participant incurs his or her fifth consecutive one (1) year Break in Service or Period of Severance for Plans that use the Elapsed Time Method. If a former Participant has received the full amount of his or her Vested Account Balance, the non-vested portion of his or her account shall be forfeited and be disposed of: [ ] 1. during the Plan Year following the Plan Year in which the forfeiture arose. [ ] 2. as of any Valuation or Allocation Date during the Plan Year (or as soon as administratively feasible following the close of the Plan Year) in which the former Participant receives full payment of his or her vested benefit. [ ] 3. as of the end of the Plan Year during which the former Participant receives full payment of his or her vested benefit. [ ] 4. as of the earlier of the first day of the Plan Year, or the first day of the seventh month of the Plan Year following the date on which the former Participant has received full payment of his or her vested benefit. [ ] 5. as of the next Valuation or Allocation Date following the date on which the former Participant receives full payment of his or her vested benefit.

Timing of Allocation of Forfeitures. If no timely distribution or deemed distribution [pursuant to paragraph 6.5(c) of the Basic Plan Document #01] has been made to a former Participant, non-vested portions shall be forfeited at the end of the Plan Year during which the former Participant incurs his or her fifth consecutive one (1) year Break in Service or Period of Severance for Plans that use the Elapsed Time Method. If a former Participant has received the full amount of his or her Vested Account Balance, the non-vested portion of his or her account shall be forfeited and be disposed of: [ ] 1. during the Plan Year following the Plan Year in which the forfeiture arose. [ [x] 2. as of any Valuation or Allocation Date during the Plan Year (or as soon as administratively feasible following the close of the Plan Year) in which the former Participant receives full payment of his or her vested benefit. [ ] 3. as of the end of the Plan Year during which the former Participant receives full payment of his or her vested benefit. [ ] 4. as of the earlier of the first day of the Plan Year, or the first day of the seventh month of the Plan Year following the date on which the former Participant has received full payment of his or her vested benefit. [ ] 5. as of the next Valuation or Allocation Date following the date on which the former Participant receives full payment of his or her vested benefit.

Timing of Allocation of Forfeitures. If no timely distribution or deemed distribution [pursuant to paragraph 6.5(c) of the Basic Plan Document #01] has been made to a former Participant, non-vested portions shall be forfeited at the end of the Plan Year during which the former Participant incurs his or her fifth consecutive one (1) year Break in Service or Period of Severance for Plans that use the Elapsed Time Method. If a former Participant has received the full amount of his or her Vested Account Balance, the non-vested portion of his or her account shall be forfeited and be disposed of: [ ] 1. during the Plan Year following the Plan Year in which the forfeiture arose. [ ] 2. as of any Valuation or Allocation Date during the Plan Year (or as soon as administratively feasible following the close of the Plan Year) in which the former Participant receives full payment of his or her vested benefit. [ [x] 3. as of the end of the Plan Year during which the former Participant receives full payment of his or her vested benefit. [ ] 4. as of the earlier of the first day of the Plan Year, or the first day of the seventh month of the Plan Year following the date on which the former Participant has received full payment of his or her vested benefit. [ ] 5. as of the next Valuation or Allocation Date following the date on which the former Participant receives full payment of his or her vested benefit.