Past Service Credit definition

Past Service Credit means (1) benefit accruals for service prior to the Effective Date of this Plan, (2) increases in existing Accrued Benefits resulting from service prior to the Effective Date of a Plan amendment, and (3) benefit accruals for service with another employer.

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Past Service Credit means an amount, if any, credited to a Participant’s Retirement Account as described in Section 7.

Past Service Credit means an amount, if any, credited to a Participant's Retirement Account as described in Section 7.

Examples of Past Service Credit in a sentence

Participants employed by the following predecessor employers that were acquired prior to January 1, 1994, shall not receive Past Service Credit as of the date the predecessor employer was acquired by or merged into Genuine Parts Company.
Broo▇▇-▇▇▇▇▇ ▇▇▇ts 7/1/88 Past Service Credit Granted & Machine Co., Inc.
Standard Units Parts 7/1/88 Past Service Credit Granted Corporation including its subsidiary Manco, Inc.
This is a prospective change that does not impact the multiplier used for prior years of Future Service Credit, does not change the multiplier for years of Past Service Credit, and does not change the maximum percentage of 150%.
The term “Years of Service” means an Employee’s Future Service Credit and Past Service Credit.
Eligibility for Benefits that would otherwise have been payable and all Past Service Credit and Future Service Credit shall be lost immediately when the Employee's Home Local Union takes an action that terminates or will at some future date terminate the provisions of the Local Union's Contracts.
The maximum combined number of Years of Service (Past and Future) is 37.5. In calculating the maximum Years of Service a maximum of 23 years of Past Service Credit will be considered.
Eligibility for Benefits that would otherwise have been payable and all Past Service Credit and Future Service Credit shall be lost immediately in the following circumstances.
The years of Past Service Credit cannot exceed the lesser of twenty-three (23) years or twenty-five (25) less the years of Future Service Credit.
To the extent required by applicable federal law, military service will also be included in Past Service Credit.

More Definitions of Past Service Credit

Past Service Credit means each calendar year, prior to the Employee’s first year of Future Service Credit, during which he was a member of the International Union. To the extent required by applicable federal law, military service will also be included in Past Service Credit. Effective December 31, 2009, no further Past Service shall be granted for Severance Benefits. For Purposes of this definition an individual is considered as having become a “member of the International Union” on the first date shown in the membership records of the International Union.‌

Past Service Credit means such credit as is provided under the Plan to a Participant in respect of the Participant’s Past Service.

Past Service Credit means a Pension Benefit granted by the Board of Trustees to those Covered Employees who have worked in the Industry prior to their Employer Participation Date. No Past Service Credit is granted after the original Employer Participation Date.

Past Service Credit means each calendar year, prior to a Retiree’s first Future Service Credit under the Active Plan, during which he was a member of the International Union. For Purposes of this definition an individual is considered as having become a “member of the International Union” upon Grant of Membership to the International Union, which is the date when the individual began to pay Per Capita dues to the International Union, under the rules in existence at the time of admission.‌ To the extent required by applicable federal law, military service will also be included in past service credit. Past Service Credit will not be credited if it was cancelled under the Active Plan at or before Retirement. With respect to the Article III Retiree Health Premium and the Article IV Service Based HCRA Benefits, Past Service Credit includes time as an SMWIA apprentice. No Past Service is awarded for determining benefits under Article VI (Plan B HCRA).

Past Service Credit shall have the meaning set forth in Section 5.4(c).

Past Service Credit has the meaning set forth in Section 10.1(b)(iv).