Examples of Separation from the Service in a sentence
If a Participant has a Separation from the Service while all or any portion of his Benefit is not a Vested Benefit, such portion of his Benefit shall immediately be forfeited.
A Participant who has a Separation from the Service for any reason and is subsequently reemployed by a Company shall become an Eligible Employee on the date of such reemployment, and may again become a Participant in the Plan upon compliance with Section 2.01.
The amount of each installment shall be equal to the portion of the Dollar Balance then payable determined in accordance with Section 4.01 as of the Valuation Date coinciding with or next following the Participant’s Separation from the Service, or anniversary date thereof, or the date of termination of the deferral period, or anniversary date thereof, as applicable divided by the then remaining installment period.
Continuous Service shall be broken by a Separation from the Service under which the Employee has no recall rights.
If a Participant elects to receive his Dollar Balance in annual installments, the first installment shall be made within sixty (60) days, or as soon as administratively feasible thereafter following the Valuation Date coinciding with or next following termination of the deferral period under subparagraph (a)(i)b, or within sixty (60) days, or as soon as administratively feasible thereafter following the Valuation Date coinciding with or next following his Separation from the Service.
The Participant's Benefit shall be forfeited upon his Separation from the Service to the extent it has not become Vested, either previously or by reason of such Separation.
If a Participant has a Separation from the Service, the portion of his Matching Share Account which is not Vested as of the date of his Separation from the Service shall be immediately forfeited (and debited from his Accounts) and the Company shall cease to be obligated under Articles VIII and IX with respect to the portion of such Matching Share Account that is forfeited.
Except as provided in Sections 3.6, 3.7 and 9.3, no distribution shall be made to any Participant from his Qualified Account or any other Account prior to his Separation from the Service.
Tel: 304-285-5873., vic1@cdc.gov.Declaration of interestThe findings and conclusions in this article are those of the author and do not necessarily represent the views of the National Institute for Occupational Safety and Health (NIOSH) or the US Consumer Product Safety Commission (CPSC).
In the event that such Participant receives installments, such Participant shall receive subsequent annual or quarterly installments from his Nonqualified Accounts not later than 60 days after each anniversary of the last day of the calendar quarter in which his Separation from the Service occurs, or the last day of each calendar quarter, as the case may be.