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.
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.
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.
Prior to incurring a Separation from the Service, a Participant may request a hardship distribution from his Account of amounts authorized by the Participant to be deferred from his Compensation and contributed by the Company under Section 2.01(b) (including any income attributable to such amounts prior to 1989), or received as a rollover contribution under Section 12.04(a) (including earnings).
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.
No Plan amendment, unless it expressly provides otherwise, shall be applied retroactively to increase the Vested percentage of a Participant whose Separation from the Service preceded the date such amendment became effective unless and until he again becomes a Participant and additional contributions are allocated to him.
A leave of absence (whether paid or unpaid) authorized by a Company, a vacation period, a temporary layoff, Military Service or a transfer among members of the Controlled Group shall not constitute a Separation from the Service.
A leave of absence or sick leave authorized by the Company or a Company Affiliate in accordance with established policies, a vacation period, a temporary layoff for lack of work or a military leave shall not constitute a Separation from the Service.
The Benefit Commencement Date for payment of any Vested Benefit to be made under Section 3.2 shall be any date within 60 days following the date of the Participant's Separation from the Service.
A leave of absence (whether paid or unpaid) authorized by a Company in accordance with the Manual, a vacation period, a temporary layoff, Military Service or a transfer among members of the Controlled Group shall not constitute a Separation from the Service.