Newly Eligible Employee definition

Newly Eligible Employee means an employee who (i) newly is eligible to participate in the deferral program set forth in Article VII and (ii) was not, at any time during the 24-month period ending on the date on which he or she became eligible to participate in such deferral program, eligible to participate in an Account Balance Plan (irrespective of whether such employee in fact elected to participate in such plan). For this purpose, an employee is not eligible to participate in an Account Balance Plan solely on account of the accrual of interest or earnings on amounts previously deferred thereunder.
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Newly Eligible Employee means an Employee who becomes eligible to participate in the Plan during a Plan Year and who has not previously participated in the Plan or an elective or non-elective account-balance deferred compensation arrangement (as defined for purposes of Section 409A) of the Company, an Employer or any entity other than the Company with whom the Company would be considered a single employer under Sections 414(b) or 414(c) of the Code, as determined by the Committee and to the extent permissible under Section 409A.
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Newly Eligible Employee means an Employee who becomes eligible to participate in the Plan during a Plan Year and who has not previously participated in the Plan or an elective account-balance deferred compensation arrangement (as defined for purposes of Section 409A) of the Company, as determined by the Committee and to the extent permissible under Section 409A.
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Examples of Newly Eligible Employee in a sentence

  • For a Newly Eligible Employee, the deferral election may be made after the first day of a Plan Year provided it is made within 30 days after becoming eligible to participate in this Plan.

  • Such a deferral election by a Newly Eligible Employee is irrevocable once it has been received by the Plan Administrator and the deadline for making such election has expired, except as otherwise provided under this Plan.

  • New Hire or Newly Eligible Employee Enrollment If you begin work at the Company and are eligible for health benefits, you will have an opportunity to choose whether you would like to participate in this plan, and whether you want to enroll your dependents.

  • A Late Enrollee may enroll for coverage during an Annual Enrollment Period.‌ b.‌Initial Enrollment Period for a Newly Eligible Employee A person who first becomes eligible as an Employee may enroll by submitting to Us a completed Employee application and any Premium due within 31 days of becoming eligible.

  • However, the Plan Administrator may designate a Newly Eligible Employee to participate in one or more open Performance Periods on a full basis or on a pro-rated basis based on the Newly Eligible Employee’s date of hire or promotion.

  • The Committee may in its discretion permit a Newly Eligible Employee to complete, execute and return to the Committee each of the required Annual Enrollment Forms no later than 30 days following the date on which such Employee first becomes eligible to participate in the Plan or such earlier date as the Committee may establish from time to time.

  • Initial Enrollment Period for a Newly Eligible Employee A person who first becomes eligible as an Employee may enroll by submitting to the Plan Sponsor a completed Employee application and any Employee Contribution due within 31 days of becoming eligible.

  • In the case of a Newly Eligible Employee, designated deferrals shall commence as of the date such Employee’s Annual Enrollment Forms are received by the Committee, which shall be no later than 30 days following the date on which such Employee first became eligible to participate in the Plan, and such Annual Election Form shall apply only with respect to compensation earned for services performed subsequent to the time such Annual Election Form is received by the Committee.

  • A Participant who has ceased to be an Eligible Employee, but who has regained eligibility under the Plan shall not be considered a Newly Eligible Employee for purposes of mid-year enrollment under this Section 2.1(b), unless 24 months has elapsed since the employee was last eligible under this Plan (or any other plan required to be aggregated under this Plan under Code Section 409A).

  • Newly Eligible Employee Election amounts will be collected on the first pay period on or after his or her election was received.


More Definitions of Newly Eligible Employee

Newly Eligible Employee means an individual who (i) newly is eligible to participate in this Plan and (ii) was not, at any time during the 24-month period ending on the date on which he or she became eligible to participate in this Plan, eligible to participate in any Elective Account Balance Plan (irrespective of whether such individual in fact elected to participate in such plan). For this purpose, an individual is not eligible to participate in an Elective Account Balance Plan solely on account of the accrual of interest or earnings on amounts previously deferred thereunder.
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Newly Eligible Employee means an employee who first
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Newly Eligible Employee means an employee who becomes eligible to participate in the Plan during a given Service Year and who was not eligible to participate in the Plan or in any other nonqualifled deferred compensation plan sponsored by the Company or an Affiliate that is described in Treas. Reg. §1.409AI(c)(2)(A) (account balance plans permitting employee elective deferrals) during the 24 month period ending on the day before the day on which the employee becomes eligible to participate in this Plan (other than the accrual of earnings).
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Newly Eligible Employee means (i) an individual who is newly hired by the Companies and, as of the date of hire, qualifies as an Eligible Employee, or (ii) an individual who becomes an Eligible Employee after first becoming an employee of the Companies and prior to being eligible to participate in any “account balance plan”, within the meaning of Section 409A, of the Company or any Affiliate.
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Newly Eligible Employee means an executive employed by the Corporation or an Affiliate who first meets the criteria for participation in the Plan on or after January 1, 2010, provided that an executive who has worked for the Corporation or an Affiliate prior to such date will only qualify as a “Newly Eligible Employee” if he meets the requirements of Treas. Reg. § 1.409A-2(a)(7)(ii) or any successor thereto.
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Newly Eligible Employee means an Employee who meets the conditions for becoming an Eligible Employee as set forth herein, after the beginning of the Plan Year, but on or before the Mid-Year Eligibility Date for such Plan Year, due to a promotion or commencement of employment with the Company or a Participating Employer. A Newly Eligible Employee shall only be eligible to participate in the Plan as an Eligible Employee on the Mid-Year Eligibility Date for such Plan Year, and shall only begin participation in the Plan on the Mid-Year Entry Date, provided that all other requirements set forth in the Plan are satisfied.
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Related to Newly Eligible Employee

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Eligible employer means an employer that:

  • Eligible Executive means any employee of the Company or an Affiliate of the Company who (i) is designated by the Committee as an “Eligible Executive” who is eligible to participate in the Plan; (ii) has executed and returned a Participation Agreement to the Company; (iii) is not covered under any other severance plan, policy, program or arrangement sponsored or maintained by the Company or any of its Affiliates; and (iv) is not a party to an employment or severance agreement with the Company or any of its Affiliates pursuant to which such employee is eligible for severance payments or benefits. The Committee shall have the sole discretion to determine whether an employee is an Eligible Executive. Eligible Executives shall be limited to a select group of management or highly compensated employees within the meaning of Sections 201, 301 and 401 of ERISA.

  • Eligible Employees means each employee of the Company or an Affiliate.

  • Non-Key Employee means any Employee who is not a Key Employee.

  • Male employee means an employed male who is caring for a child borne of his spouse or a child placed with the employee for adoption purposes.

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • 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.

  • Key Employee means any executive-level employee (including, division director and vice president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined in the Purchase Agreement).

  • Key Executive means an employee of a Textron Company who has been and continues to be designated as a Key Executive under the Plan by Textron’s Chief Executive Officer and Chief Human Resources Officer.

  • Employee Participant means an Employee who holds an outstanding Award under the terms of the Plan.

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

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

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

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

  • 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.

  • Qualifying Employee means any employee of Managing Agent or Parent or any of their respective subsidiaries who is and has been an employee of Managing Agent or Parent or any of their respective subsidiaries for at least thirty-six (36) months.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Inactive Employee means an employee who is not actively at work due to approved leave of absence, short-term disability leave or military leave.

  • Designated Employee means an employee who has been designated by the school to receive complaints of hazing, harassment and bullying pursuant to subdivision 16 V.S.A. 570a(a)(7). The designated employees for each school building are identified in Appendix A of this policy.

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.

  • Qualified Participant means an individual who is a participant of Tier 2 and who meets 1 of the following requirements:

  • Eligible Director means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “outside director” within the meaning of Section 162(m) of the Code.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Covered Executive means any “executive officer” of the Company as defined under Rule 10D-1.

  • Female employee means an employed female who is pregnant or is caring for a child she has borne or a child who has been placed with her for adoption purposes.