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DROP Election definition

DROP Election means an election under Section 4.06(c) to participate in the DROP.
Sample 1Sample 2Sample 3
DROP Election means an election under Section 6.4(c) to participate in the DROP.
Sample 1

Examples of DROP Election in a sentence

  • A Participant who makes a DROP Election shall have a period of seven (7) calendar days to revoke the DROP Election.

  • If the DROP Election is in effect at the close of regular business hours on the seventh calendar day after the date on which the Participant signs the DROP Election, the DROP Election (including, without limitation, the DROP Effective Date and the commitment to terminate employment and retire on the date specified) shall thereupon become irrevocable.

  • Except as specifically provided in Section 4.06(i), a Participant who makes a DROP Election shall be treated as if he or she terminated employment as of the DROP Election Date.

  • The DROP Election is not a commitment to remain employed for a period of up to three years or a guarantee of continued employment.

  • In order for the DROP Election to be effective, the eligible Participant must complete and execute an election and release on a form supplied by the Board of Trustees, and such election and release must be valid and binding on the Participant in accordance with its terms.

  • The DROP Election Form shall include an irrevocable notice to the Township of South Fayette by the Member, that the Member shall terminate from employment with the South Fayette Township Police Department effective on a specific date three (3) years from the effective date of the DROP election.

  • For Compensation Base purposes, a Member who has made an effective DROP Election shall have his or her Compensation Base determined by using the Member’s Earnings before the effective date of the DROP Election.

  • In order for the DROP Election to be effective, the eligible Participant must complete and execute an election and release on a form supplied by the Administrator, and such election and release must be valid and binding on the Participant in accordance with its terms.

  • Such forms must be submitted to the Pension Administrator at least 45 days prior to the date upon which the Board will meet to consider the written DROP Election.

  • A DROP Election using the form provided by the Benefits Office must be filed with the Benefits Office at least sixty (60) days prior to the proposed DROP Effective Date.

Related to DROP Election

  • 10) Election has the meaning set forth in Section 6.05(a).

  • LCA Election has the meaning specified in Section 1.09(a).

  • Primary election means any regular primary election held under the election

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • Election cycle means the period beginning on the first day persons are eligible to

  • LCT Election has the meaning assigned to such term in Section 1.06.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Regular primary election means the election on the fourth Tuesday of June of

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Payment Election means an election pursuant to Section 5.1.

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • Investment Election means an election, made in such form as the Administrative Committee may direct, pursuant to which a Participant may elect the Investment Funds in which the amounts credited to his Account will be deemed to be invested.

  • Mail ballot election means any election that is conducted under Title 13, chapter 19, by mailing

  • Deferral Election Form means each form established from time to time by the Administrator that the Executive completes, signs and returns to the Administrator to designate the amount of Deferrals.

  • Mixed Election has the meaning set forth in Section 3.01(b)(iii).

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • Stock Election shall have the meaning set forth in Section 3.2.2.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • by-election means an election other than a general election;

  • REMIC Election An election, for federal income tax purposes, to treat certain assets as a REMIC.

  • Election Date has the meaning specified in Section 312(h).

  • Early Opt-in Election means the occurrence of:

Most Referenced Clauses

Most Referenced Definitions