Qualified Election Period definition

Qualified Election Period means the six Plan Year period beginning with the Plan Year in which the Participant first becomes a Qualified Participant.

Qualified Election Period means the six (6) Plan Year period beginning with the later of (i) the first Plan Year in which the Participant first became a "Qualified Participant," or (ii) the first Plan Year beginning after December 31, 1986.

Qualified Election Period means the six (6) Plan Year period beginning with the first Plan Year in which the Participant first became a “Qualified Participant.”

Examples of Qualified Election Period in a sentence

• For the last Plan Year in the Participant's Qualified Election Period, the Trustee will substitute "50%" for "25%" in the immediately preceding sentence.

• Starting from the sixth Plan Year during the Qualified Election Period of a Participant, 50 percent shall be substituted for 25 percent in the preceding sentence.

• Such direction shall be made within the Qualified Election Period and shall be made no later than 90 days after the close of each Plan Year which occurs within the Qualified Election Period.

• Within 90 days after the close of the last Plan Year in the Participant's Qualified Election Period, a Qualified Participant may direct the Committee to distribute 50% of the value of such account balance, reduced by the amount of assets for which a prior election under this Section has been made.

• For purposes of this Section 9.6, "Qualified Election Period" means, with respect to a Participant, the period beginning with the later of (a) the Plan Year in which the Participant attains age 55 or (b) the Plan Year in which the Participant completes at least ten years of participation in the Plan and ending with the year in which the Participant terminates his employment for any reason.

More Definitions of Qualified Election Period

Qualified Election Period means the 6 Plan Year period beginning with the Plan Year in which the Participant first becomes a Qualified Participant.

Qualified Election Period means the six Plan Year period beginning with the Plan Year after the Plan Year in which the Participant first becomes a Qualified Participant.

Qualified Election Period means the six Plan Year period beginning with the Plan Year in which the Participant attains age fifty-five (55) (or, if later, beginning with the Plan Year in which the Participant first became a Qualified Participant).

Qualified Election Period means the 6-Plan- Year period beginning with the first Plan Year in which the individual becomes a Qualified Participant.

Qualified Election Period means the six (6) Plan Year period beginning with the first Plan Year in which a Participant has both attained age 55 and completed 10 years of participation in the Plan. A Participant’s election to diversify his Account may be made within each year of the qualified election period and shall continue for the 90-day period immediately following the last day of each year in the qualified election period. Once a Participant makes such election, the Plan must complete diversification in accordance with such election within 90 days after the end of the period during which the election could be made for the Plan Year. In the discretion of the Committee, the Plan may satisfy the diversification requirement by any of the following methods:

Qualified Election Period means the Plan Year in which a Participant becomes a Qualified Participant and the five succeeding Plan Years thereafter.

Qualified Election Period means the period of six Plan Years beginning with the later of (i) the Plan Year in which the Participant first becomes a Qualified Participant, or (ii) the Plan Year which includes the tenth anniversary of the Distribution Date; provided that the Qualified Election Period shall not begin unless and until the fair market value of Employer Stock allocated to the Participant's ESOP Account is at least $500 as of any Valuation Date.