Top-Heavy Vesting Schedule. If the Plan is determined to be a Top-Heavy Plan as of any Determination Date, then the following vesting schedule shall apply beginning with the first Plan Year commencing after such Determination Date, unless the Plan’s vesting schedule specified in the Adoption Agreement provides for vesting that is at least as rapid as the following schedule, in which case the vesting schedule specified in the Adoption Agreement shall apply: Years of Service Nonforfeitable Percentage 2 20 % 3 40 % 4 60 % 5 80 % 6 or more 100 % If the vesting schedule in this Section applies, it shall apply to all benefits within the meaning of Code Section 411(a)(7) except those attributable to Employee After-Tax Contributions and Elective Deferral Contributions, including benefits accrued before the effective date of Code Section 416 and benefits accrued before the Plan became Top-Heavy. Further, once the Plan is determined to be a Top-Heavy Plan, the minimum Top-Heavy vesting schedule shall continue to apply. No decrease in a Participant’s nonforfeitable percentage may occur regardless of whether the Plan’s status as Top-Heavy changes for any subsequent Plan Year. However, this Section does not apply to the Account of any Employee who does not have an Hour of Service after the Plan has initially become Top-Heavy and such Employee’s Account Balance attributable to Employer contributions and forfeitures shall be determined without regard to this Section. The Minimum Allocation pursuant to Section 4.4.3 (to the extent required to be nonforfeitable under Code Section 416(b)) may not be forfeited under Code Section 411(a)(3)(B) or Code Section 411(a)(3)(D).
Top-Heavy Vesting Schedule. (Section 2.6.1(b)) Employer Non-Elective Accounts shall vest: (Select a., b., c., d., e., or g. Also select f. if applicable.)
Top-Heavy Vesting Schedule. (Section 2.6.1(b))
Top-Heavy Vesting Schedule. For any Plan Year the Plan is Top Heavy (and for all subsequent Plan Years), the Top Heavy vesting schedule selected in this AA §8-3 applies, unless provided otherwise under AA §8-6.
(a) Employer Contributions (see AA §6) (b) Matching Contributions (see AA §6B)
(1) Full and immediate vesting.
(1) Full and immediate vesting.
(2) Three-year cliff vesting schedule (2) Three-year cliff vesting schedule
(3) Six-year graded vesting schedule (3) Six-year graded vesting schedule (4) Modified vesting schedule (4) Modified vesting schedule [Note: If a modified vesting schedule is selected, the vested percentage for every Year of Service must satisfy the vesting requirements under the 6-year graded vesting schedule, unless 100% vesting occurs after no more than 3 Years of Service.]
Top-Heavy Vesting Schedule. Section 2.6.1(c) provides that if the Plan becomes Top Heavy, unless the Employer specifies otherwise, vesting will be at a rate of 20% per year beginning with the second Year of Service. Employer Accounts:
Top-Heavy Vesting Schedule. Pursuant to Section 6.01(C) of the Plan, the vesting schedule that will apply when this Plan is a Top-Heavy Plan (unless the Plan's regular vesting schedule provides for more rapid vesting) shall be (Choose one): OPTION 1: [ ] 6 Year Graded. OPTION 2: [ ] 3 Year Cliff. NOTE: If no option is selected, Option 1 will be deemed to be selected.
Top-Heavy Vesting Schedule. The Employer must select a Top Heavy vesting schedule. The Employer may elect to have the selected Top Heavy schedule apply at all times or, if the Plan is not Top Heavy, may also selected a non-Top Heavy schedule in (2) below. However, if the Plan becomes Top Heavy in any Plan Year, the Top Heavy schedule will apply for that and all subsequent Plan Years.
(i) ( ) 100% vested immediately. (ii) ( ) 100% vested after 3 (not more than 3) complete Years of Service for Vesting. (iii) (X) a vested percentage determined in accordance with the following schedule: 4 60 5 80 6 100
Top-Heavy Vesting Schedule. In the event the plan becomes Top-Heavy, the vesting schedule shall be: -> Must meet one of the schedules below and must be at least as liberal as the vesting schedule elected in Section IX.A. [ ] 1. 100% vesting after __________ (not to exceed 3) years of Service.
2. vesting after 1 Year of Service. __________% (not less than 20) vesting after 2 Years of Service. __________% (not less than 40) vesting after 3 Years of Service. __________% (not less than 60) vesting after 4 Years of Service. __________% (not less than 80) vesting after 5 Years of Service. 100 % vesting after 6 Years of Service.
Top-Heavy Vesting Schedule. For any Plan Year the Plan is Top Heavy (and for all subsequent Plan Years), the Top Heavy vesting schedule selected in this AA §8-3 applies, unless provided otherwise under AA §8-6.
(a) Full and immediate vesting □ (b) Three-year cliff vesting schedule □ (c) Six-year graded vesting schedule □ (d) Modified vesting schedule [Note: If a modified vesting schedule is selected, the vested percentage for every Year of Service must satisfy the vesting requirements under the 6-year graded vesting schedule, unless 100% vesting occurs after no more than 3 Years of Service.]
Top-Heavy Vesting Schedule. Paragraph 6.3
