Timing of Forfeitures Sample Clauses

Timing of Forfeitures. Except as provided in Plan Section 1.37, a Forfeiture will occur:
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Timing of Forfeitures. A Participant who receives a Cash-Out Distribution (as defined in Section 7.09(a) of the Plan) is treated as having an immediate forfeiture of his/her nonvested Account Balance. To modify the forfeiture timing rules to delay the occurrence of a forfeiture upon a Cash-Out Distribution, complete this AA §8-7(b). 🞎 A forfeiture will occur upon the completion of consecutive Breaks in Service (as defined in Section 7.07(a) of the Plan).
Timing of Forfeitures. No forfeiture shall be made unless, a Participant has a Termination of Employment and five consecutive one year breaks in service or a distribution as described in Section 8.01(a) is made, the non-vested portion of the Participant's Account shall be forfeited on the earlier of (1) the last day of the first Plan Year in which the Participant receives a distribution in accordance with Section 8.04(a)(l), or (2) the last day of the first Plan Year in which a Break in Service occurs in all other cases.

Related to Timing of Forfeitures

  • Allocation of Forfeitures NOTE: Subsections (a), (b) and (c) below apply to forfeitures of amounts other than Excess Aggregate Contributions.

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