Break Year definition

Break Year means, with respect to any Employee, a 12 consecutive month period of severance.
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Break Year. Defined. A "Break Year" means a Plan Year during which you are credited with less than one-tenth of a year of Pension Credit for Future Service.
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Break Year means a portion of a Period of Severance which extends for a period of one year. Break Years are measured from the Severance From Service Date and from anniversaries of that date. For this purpose, partial years shall be disregarded, not aggregated.
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Examples of Break Year in a sentence

  • If an Employee is reemployed after a Break Year, and at the time of termination he or she was a Participant in the Plan, the Period of Credited Service to which he or she was entitled at the time of termination shall be reinstated.

  • In the case of an individual who is absent from work for maternity or paternity reasons, the 12-consecutive month period beginning on the first anniversary of the first day of such absence shall not constitute a Break Year.

  • In the case of maternity or paternity absence (as defined below) which commences on or after January 1, 1985, an Employee shall be deemed to be employed by the Corporation, an Affiliated Corporation, or any Subsidiary (solely for purposes of determining whether the Employee has incurred a Break Year) during the calendar year following the calendar year in which his or her employment terminated.

  • If the re-employment occurs before the Employee has a Break Year, the Period of Credited Service to which he or she was entitled at the time of termination shall be reinstated, the period of his or her absence (but not to exceed 12 months) shall be included in his or her Period of Credited Service, and he or she will be reinstated as a Participant on his or her date of reemployment, if the Participant is an Eligible Employee on that date.

  • Solely for purposes of determining whether a Break Year has occurred, an Employee shall be credited with an Hour of Service for each hour which would have been credited to such Employee but for such Employee's absence from employment for maternity or paternity reasons.

  • Hours of Service under this subsection shall be credited in the Plan Year in which the absence from employment commences if the crediting is necessary to prevent a Break Year (and only to prevent a Break Year) or, in all other cases, such Hours of Service shall be credited in the following Plan Year (and only for the purpose of preventing a Break Year in such Plan Year).

  • Break Year: A Plan Year in which an Executive failed to accrue at least 500 Service Hours.

  • In the case of maternity or paternity absence (as defined below), an Employee shall be deemed to be employed by the Corporation, an Affiliated Corporation, or any Subsidiary (solely for purposes of determining whether the Employee has incurred a Break Year) during the calendar year following the calendar year in which his or her employment terminated.

  • If the reemployment occurs before the Employee has a Break Year, the Period of Credited Service to which he or she was entitled at the time of termination shall be reinstated, the period of his or her absence (but not to exceed 12 months) shall be included in his or her Period of Credited Service, and he or she will be reinstated as a Participant on his or her date of reemployment, if the Participant is an Eligible Employee on that date.

  • For purposes of applying subsection (d), the term Break Year shall include a calendar year in which the Employee performed 500 or fewer Hours of Service for BiltBest.


More Definitions of Break Year

Break Year means any calendar year for which:
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Break Year means a Plan Year in which the Employee is credited with 500 or fewer Hours of Service.
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Related to Break Year

  • Break in Service means any Plan Year, or, for the initial eligibility computation period under Section 3.2, the 12-consecutive month period beginning on the first day of which an Employee has an Hour of Service, in which an Employee has 500 or fewer Hours of Service. Solely for this purpose, an Employee shall be considered employed for his normal hours of paid employment during a Recognized Absence (said Employee shall not be credited with more than 501 Hours of Service to avoid a Break in Service), unless he does not resume his Service at the end of the Recognized Absence. Further, if an Employee is absent for any period (i) by reason of the Employee’s pregnancy, (ii) by reason of the birth of the Employee’s child, (iii) by reason of the placement of a child with the Employee in connection with the Employee’s adoption of the child, or (iv) for purposes of caring for such child for a period beginning immediately after such birth or placement, the Employee shall be credited with the Hours of Service which would normally have been credited but for such absence, up to a maximum of 501 Hours of Service.

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.

  • Crop year means any 12 month period which represents the planting, growing, harvesting and marketing of an insurable crop, as stated in the Schedules;

  • Plan Year means the calendar year.

  • Minimum Period of Service means a period of 12 consecutive months beginning on the Service Start Date, unless set out otherwise in any applicable Order.

  • Loan Year With respect to any Mortgage Loan, the one year period commencing on the day succeeding the origination of such Mortgage Loan and ending on the anniversary date of such Mortgage Loan, and each annual period thereafter.

  • Determination Period means each period from (and including) a Determination Date to (but excluding) the next Determination Date (including, where either the Interest Commencement Date or the final Interest Payment Date is not a Determination Date, the period commencing on the first Determination Date prior to, and ending on the first Determination Date falling after, such date); and

  • Rate Year means July 1st of a given Calendar Year through June 30th of the succeeding Calendar Year.