Period of Credited Service definition

Period of Credited Service means with respect to any Employee the aggregate of all time periods beginning on the date the Employee first completes an Hour of Service or is reemployed and ending on the date a Break Year begins, subject to the following adjustments:
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Period of Credited Service means the period from October 1 of one year through September 30 of the next year.
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Period of Credited Service means the period from October 1 of one year through September 30 of the next year during which the Participant is employed by the Company or a Related Employer.
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Examples of Period of Credited Service in a sentence

  • Provided further, if such payment event is the event specified in paragraph (a)(1) hereof (completion of five consecutive Periods of Credited Service), such payment shall also not be made earlier than the November 1 immediately following the fifth Period of Credited Service referenced in that paragraph.

  • To the extent and on the terms so provided by the Board of Review at the time of acquisition, or at any subsequent date or in any Supplement to the Plan, the last continuous period of employment of any employee with such prior separate business entity, part or all of which is or was acquired by, or becomes a part of any Employer, will be considered a Period of Credited Service.


More Definitions of Period of Credited Service

Period of Credited Service means with respect to any Employee the aggregate of all time periods beginning on the date the Employee first
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Period of Credited Service means the continuous period of service commencing on the Employee’s Employment Commencement Date or Reemployment Commencement Date, whichever is applicable, and ending on the Employee’s Termination Date, except as otherwise provided under Section 3.2, and excluding any period during which the Employee is not a Covered Employee. For purposes of determining the amount of a Participant's benefits under the Plan (but not for purposes of determining eligibility for Early Retirement or reductions or vesting), a Participant whose Termination Date occurs on or after attaining eligibility for early retirement under Section 3.3 or normal retirement under Section 3.1 or after electing to receive disability retirement benefits under Section 3.6, will be credited with additional Periods of Credited Service expressed in whole months ("Sick Leave Credits"). Such a Participant will be credited with one month of Sick Leave Credit for each 176 hours of unused sick leave on his or her Termination Date and, after each whole 176 hour period has been credited, the Participant shall be credited with one additional month of Sick Leave Credit if 88 or more hours of unused sick leave remain.For calculating a surviving spouse’s benefit under Section 4.2, Periods of Credited Service include Sick Leave Credits if the Participant was eligible to receive such credits on his or her date of death.
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Period of Credited Service means all of the following:
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Period of Credited Service means with respect to any Employee the aggregate of all time periods beginning on the date the Employee first completes an Hour of Service or is reemployed and ending on the date a Break Year begins, subject to the following adjustments: (a) For periods prior to May 1, 2004, a Transferred Employee who was eligible to participate in the Abbott Plan on April 30, 2004, will be credited with one Year of Credited Service for each year of credited service under the Abbott Plan as in effect as of April 30, 2004. Each other Transferred Employee will be credited with Credited Service for periods prior to May 1, 2004, as though employment with Abbott prior to such date were employment with the Corporation. (b) On or after May 1, 2004, an Employee shall be credited with 1/12th of a Year of Credited Service for each calendar month of employment (or portion thereof) during which he or she is employed by the Corporation, an Affiliated Corporation or a Subsidiary. (c) On or after May 1, 2004, an Employee will also receive credit for any period of severance of less than 1 consecutive months. Fractional periods of a year will be expressed in terms of days. In the case of an individual who is absent from work for maternity or paternity reasons, the 12-consecutive month period beginning on the first anniversary of the first day of such absence shall not constitute a Break Year. For purposes of this Section, (i) an absence from work for maternity or paternity reasons means an absence (A) by reason of the pregnancy of the individual, (B) by reason of the birth of a child of the individual, (C) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (D) for purposes of caring for such child for a period beginning immediately following such birth or placement; (ii) a period of severance is a continuous period of time during which the Employee is not employed by the Corporation, an Affiliated Corporation or a Subsidiary. Such period begins on the date the Employee retires, quits or is discharged, or if earlier, the 12-month anniversary of the date on which the Employee was otherwise first absent from service; and (iii) in the case of a leave of absence for service in the armed forces of the United States, no period shall be excluded under this paragraph during which the Employee has reemployment rights with respect to the Corporation, any Affiliated Corporation or any Subsidiary under federal law and contribut...
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Related to Period of Credited Service

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

  • Continuous period of creditable coverage means the period during which an individual was covered by creditable coverage, if during the period of the coverage the individual had no breaks in coverage greater than sixty-three (63) days.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Leave Year means the year ending with the anniversary date of the employee’s appointment.

  • 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.

  • Hours of Service means hours to be credited to an Employee under the following rules:

  • 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.

  • 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.

  • 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.

  • Hour of Service means:

  • Extended benefit period means a period which:

  • Period of restoration means the period of time that:

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • STIPULATED HOURS OF SERVICE PER DAY means hours of duty per day, normal hours/timings of duty whereof shall be determined by the Company's Engineer for which fixed charge shall be payable.

  • Service credit year means an accumulation of months of

  • Average final compensation means the average annual creditable compensation of a member during

  • pensionable service means service which may be taken into account in computing pension under these Regulations;

  • Period of Takaful means the period of Takaful shown in the Schedule.

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