Initial Stability Period definition

Initial Stability Period or “ISP” means the 12-month period a Variable Employee may be eligible for coverage under the Plan after completion of an IMP. The Variable Employee remains eligible for benefits during the entire ISP, regardless of the number of hours worked and applicable leave, as long as the Variable Employee remains in active employee status with the Employer. A Variable Employee’s ISP begins the first of the month following a 30-day administrative period.

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Initial Stability Period means the period of time beginning immediately after the Initial Administrative Period, and ending 12 months later or on the first day of the first standard stability period applicable to the Employee, if longer.

Initial Stability Period means the minimum period of time during which medical coverage must be offered to an employee who was previously a Variable Hour Employee and has been determined to be an Eligible Employee. The Initial Stability Period may not be shorter in duration than the Initial Measurement Period.

Examples of Initial Stability Period in a sentence

A one-month Initial Administrative Period shall follow the end of the Initial Measurement Period and a twelve-month Initial Stability Period shall follow the end of the Initial Administrative Period, subject to the regulations.
A one-month Initial Administrative Period will follow the end of the Initial Measurement Period and a twelve-month Initial Stability Period will follow the end of the Initial Administrative Period, subject to the regulations.
If an Employee is not in an Initial Stability Period or an Administrative Period immediately following the end of the Initial Measurement Period under the look-back measurement method applicable to the first position as of the date of transfer, the Employee’s status as a Full-Time Employee or Non-Full-Time Employee will be determined solely under the look- back measurement method applicable to the second position as of the date of transfer, including all hours of service in the first position.
The Initial Stability Period means the period of time, as elected in Section 3.05, that follows, and is associated with, the Initial Measurement Period of a New Employee (who is either a Part-Time Employee, a Variable Hour Employee, or a Seasonal Employee).
For this purpose, an Employee will be deemed to be in an Initial Stability Period or Stability Period (as applicable) if, as of the date of transfer, the Employee has been assigned a status as a Full-Time Employee or Non-Full-Time Employee for the particular Initial Stability Period or Stability Period based on his/her having been employed by the Plan Sponsor for a full Initial Measurement Period or full Standard Measurement Period (as applicable).
Once a New Employee has been employed for at least one complete Standard Measurement Period, he/she will be deemed to be an Ongoing Employee, and his/her eligibility to participate in the Plan will be governed by the terms and conditions applicable to Ongoing Employees (unless the Employee is eligible for coverage by virtue of an Initial Stability Period).
If the Employee is in an Initial Stability Period or a Stability Period applicable to the first position as of the date of transfer, his/her status as a Full-Time Employee or Non-Full-Time Employee for the first position remains in effect until the end of the applicable Initial Stability Period or Stability Period.
The Initial Measurement Period means the period of time, as elected in Section 3.03, that is used to determine if a New Employee (who is classified as a Part-Time Employee, Variable Hour Employee, or a Seasonal Employee) is eligible to participate in the Plan during his/her subsequent Initial Stability Period.
If, as of the date of transfer, a New Employee is in an Administrative Period immediately following the end of the Initial Measurement Period, his/her status as a Full-Time Employee or Non-Full-Time Employee (which is based on his/her hours of service in the Initial Measurement Period under the first position) will apply from the start of the associated Initial Stability Period following the end of that Administrative Period through the end of such Initial Stability Period.
The Plan Sponsor must make the following election to determine the applicable Initial Stability Period for New Employees under the Plan.

More Definitions of Initial Stability Period

Initial Stability Period means the 12-month period beginning immediately after your Initial Administrative Period.

Initial Stability Period means, with respect to a New Employee that is a Part-‐Time Employee, Seasonal Employee, or Variable-‐Hour Employee, the period described in Section 2.6 of this Policy.

Initial Stability Period means the 12-month period beginning on the first day of the second calendar month after the end of the Initial Measurement Period.

Initial Stability Period means the 12-month period commencing after the end of the Initial Administrative Period.

Initial Stability Period means the period of time beginning immediately after the Initial Administrative Period, and ending twelve (12) months later.