Forfeiture Break in Service definition

Forfeiture Break in Service means five consecutive Breaks in Service.
Forfeiture Break in Service means a Participant's incurring five (5) consecutive Breaks in Service.
Forfeiture Break in Service means the occurrence of both (a) termination of employment (even if rehired) and (b) five consecutive Breaks in Service.

Examples of Forfeiture Break in Service in a sentence

  • The Participant incurs a Forfeiture Break in Service when he incurs 5 consecutive Breaks in Service.

  • If a Participant re-enters the Plan subsequent to his having a Forfeiture Break in Service, the Advisory Committee, or the Trustee, must maintain a separate Account for the Participant's pre-Forfeiture Break in Service Accrued Benefit and a separate Account for his post-Forfeiture Break in Service Accrued Benefit, unless the Participant's entire Accrued Benefit under the Plan is 100% Nonforfeitable.

  • A partially-vested Participant may not receive a hardship distribution described in this Paragraph (A)(4) prior to incurring a Forfeiture Break in Service, unless the hardship distribution is a cash-out distribution (as defined in Article V).

  • If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially-vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee will establish a separate Account for the Participant's Accrued Benefit.

  • If the deemed cash-out rule does not apply to the Employer's Plan, a 0% vested Participant will not incur a forfeiture until he incurs a Forfeiture Break in Service.

  • This condition also applies if the Participant makes repayment within the Plan Year in which he/she incurs the Forfeiture Break in Service and that Forfeiture Break in Service would result in a complete forfeiture of the amount the Plan Administrator otherwise would restore.

  • A Participant incurs a Forfeiture Break in Service when he/she incurs 5 consecutive Breaks in Service.

  • A Participant who incurs a Five-Year Forfeiture Break in Service will forfeit the nonvested portion of his/her Employer Contribution and/or Matching Contribution Account as of the end of the Vesting Computation Period in which the Participant incurs the fifth consecutive Break in Service.

  • For the sole purpose of determining a Participant's Nonforfeitable percentage of his Accrued Benefit derived from Employer contributions which accrued for his benefit prior to a Forfeiture Break in Service, the Plan disregards any Year of Service after the Participant first incurs a Forfeiture Break in Service.

  • If a Participant receives an in-service distribution as to a partially-Vested Account, and the Participant has not incurred a Forfeiture Break in Service, the Plan Administrator will apply the vesting provisions of Section 5.03(C).


More Definitions of Forfeiture Break in Service

Forfeiture Break in Service means five consecutive one-year Breaks in Service.
Forfeiture Break in Service means the last day of the 60th calendar month following the month in which a Participant's Severance Date occurred.
Forfeiture Break in Service means, with respect to an Employee, an uninterrupted period comprised of five or more computation periods, with respect to each of which computation periods the Employee incurs a One Year Break in Service. In determining the number of computation periods within such uninterrupted period, all computation periods which overlap one or more other computation periods shall be counted as one computation period. For purposes of Section 2.22 above and Article V below, a computation period shall be a period of twelve (12) consecutive months commencing with the Employee's Employment Commencement Date or any Anniversary Date subsequent to the Employee's Employment Commencement Date. For all other purposes, the computation period shall be a period of twelve (12) consecutive months commencing with any Anniversary Date.
Forfeiture Break in Service means the occurrence of both (i) termination of employment (even if rehired) and (ii) five consecutive Breaks in Service (or one Break in Service for any Plan Year beginning before January 1, 1985)
Forfeiture Break in Service means five consecutive Breaks in Service (as defined in Section 5.07).

Related to Forfeiture Break in Service

  • 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.

  • One-Year Break in Service means a twelve (12) consecutive month period during which the Participant does not complete more than 500 Hours of Service.

  • 1-Year Break in Service means the applicable computation period during which an Employee has not completed more than 500 Hours of Service with the Employer. Further, solely for the purpose of determining whether a Participant has incurred a 1-Year Break in Service, Hours of Service shall be recognized for "authorized leaves of absence" and "maternity and paternity leaves of absence." Years of Service and 1-Year Breaks in Service shall be measured on the same computation period.

  • Vesting Service of an employee means the period or periods of service credited to him under the provisions of Article II for purposes of determining his vested interest in his Employer Contributions Sub-Account, if Employer Contributions are provided for under either Article VI or Article XXII.

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.

  • Severance from Service Date means the earlier of:

  • Period of Service means the aggregate of all periods of service commencing with an Employee's first day of employment or reemployment with the Employer or an Affiliated Employer and ending on the first day of a Period of Severance, or for benefit accrual purposes, ending on the severance from service date. The first day of employment or reemployment is the first day the Employee performs an Hour of Service. An Employee who incurs a Period of Severance of twelve (12) months or less will also receive service-spanning credit by treating any such period as a Period of Service for purposes of eligibility and vesting (but not benefit accrual). For purposes of benefit accrual, a Participant's whole year Periods of Service is equal to the sum of all full and partial periods of service, whether or not such service is continuous or contiguous, expressed in the number of whole years represented by such sum. For this purpose, fractional periods of a year will be expressed in terms of days.

  • Severance from Employment means severance from employment with the Employer and any Related Entity. However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).

  • 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.

  • Level of service has the meaning set forth in Section 2.02(c).

  • Termination of Service means:

  • Significant break in coverage means a period of 63 consecutive days during each of which an individual does not have creditable coverage.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • 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.

  • Years of Service means the total number of full years in which a Participant has been employed by one or more Employers. For purposes of this definition, a year of employment shall be a 365 day period (or 366 day period in the case of a leap year) that, for the first year of employment, commences on the Employee's date of hiring and that, for any subsequent year, commences on an anniversary of that hiring date. Any partial year of employment shall not be counted.

  • Hour of Service means:

  • Period of Severance means a continuous period of time during which an Employee is not employed by the Employer. Such period begins on the date the Employee retires, quits or is discharged, or if earlier, the twelve (12) month anniversary of the date on which the Employee was otherwise first absent from service.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Class of Service means the various categories of service generally available to customers, such as business or residence.

  • Eligibility Service of an employee means the period or periods of service credited to him under the provisions of Article II for purposes of determining his eligibility to participate in the Plan as may be required under Article III or Article VI.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Credited Service means the member's total period of service

  • Year of Vesting Service means a vesting computation period during which you complete 1,000 hours of service during the Plan Year.

  • Date of Service means the date on which the client receives medical services or items, unless otherwise specified in the appropriate provider rules. For items that are mailed or shipped by the provider, the date of service is the date on which the order was received, the date on which the item was fabricated, or the date on which the item was mailed or shipped.

  • completed year of service means continuous service for one year;

  • Vesting Event means the earliest to occur of the following events: