An Active Participant definition

An Active Participant s salary reduction agreement shall become effective on the first day of the first payroll period for which the Employer can reasonably process the request, but not earlier than the later of (a) the effective date of the provisions permitting Deferral Contributions or (b) the date the Employer adopts such provisions. The Employer shall make a Deferral Contribution on behalf of the Participant corresponding to the amount of said reduction. Under no circumstances may a salary reduction agreement be adopted retroactively. An Active Participant may elect to change or discontinue the percentage or dollar amount by which his Compensation is reduced by notice to the Employer as provided in Subsection 1.07(a)(1)(B) or (C) of the Adoption Agreement. Notwithstanding the Employer's election in Subsection 1.07(a)(1)(B) or (C) of the Adoption Agreement, if the Employer has elected one of the safe harbor contributions in Subsection 1.10(a)(3) or 1.11(a)(3) of the Adoption Agreement, an Active Participant may elect to change or discontinue the percentage or dollar amount by which his Compensation is reduced by notice to the Employer within a reasonable period, as specified by the Employer (but not less than 30 days), of receiving the notice described in Section 6.10.
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An Active Participant means a Participant, employed on the Anniversary Date, who has met the eligibility requirements for Employer Discretionary Contributions described in Article III. Notwithstanding any language in this Paragraph C to the contrary, if this Plan would otherwise fail to meet the requirements of Code Sections 401(a)(26), 410(b)(1), or 410(b)(2)(A)(i) and the regulations thereunder because Employer discretionary contributions have not been allocated to a sufficient number or percentage of Participants for a Plan Year, then the following rules shall apply:
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An Active Participant s salary reduction agreement shall become effective on the first day of the first payroll period for which the Employer can reasonably process the request, but not earlier than the later of (a) the effective date of the provisions permitting Deferral Contributions or (b) the date the Employer adopts such
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Examples of An Active Participant in a sentence

  • An Active Participant may continue his employment after his Normal Retirement Date, in which event he shall continue as an Active Participant and, subject to the provisions of Section 4.6, retire as of his Deferred Retirement Date.

  • An Active Participant, who has suffered a Permanent Disability, may retire on his Disability Retirement Date.

  • An Active Participant who has satisfied the age and service requirements for early retirement shall be entitled to receive as of his Normal Retirement Date a monthly Standard Form of Retirement income equal to one-twelfth (1/12th) of his Accrued Benefit.

  • An Active Participant shall be fully vested in the Employer Credits made to the Deferred Compensation Account upon the first to occur of the following events: XX (a) Normal Retirement Age.

  • An Active Participant may elect to change or discontinue the amount by which his Compensation is reduced by notice to the Employer as provided in Subsection 1.07(a)(1)(C) or (D) of the Adoption Agreement.

  • An Active Participant whose deferral election(s) are cancelled pursuant to this Section 4.2 may make a new deferral election under Section 4.1 if such individual continues to be an Eligible Employee or Non-Employee Director for the next Annual Enrollment Period.

  • An Active Participant shall be fully vested in the Employer Credits made to the Deferred Compensation Account upon the first to occur of the following events: X (a) Normal Retirement Age.

  • An Active Participant shall be permitted to change such rate or resume such contributions at any time upon notice to the Plan Administrator.

  • An Active Participant may at any time discontinue Voluntary Contributions.

  • An Active Participant who ceases to be an Eligible Contracted Officer but who continues to be a Contracted Officer shall receive credit for Compensation earned and Creditable Service performed for his or her prior period of time as an Eligible Contracted Officer for purposes of Sections 4.2(a)(1) and 4.2(b)(1).


More Definitions of An Active Participant

An Active Participant who is demoted shall become an "Inactive Participant" as of the effective date of his demotion if, in his new position after the demotion, he is not a Senior Manager.
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Related to An Active Participant

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and any individual the Committee determines should be treated as such a covered employee.

  • Participant has the meaning specified in Section 10.06(d).