SERP Service definition

SERP Service means, effective January 1, 2001, a Participant’s whole and partial “years of benefit service” as calculated under the Retirement Plan (including his “prior benefit service” under the Retirement Plan). If a Participant terminates employment with SunTrust and all Affiliates and is subsequently rehired by SunTrust or an Affiliate, he or she shall not accrue any additional SERP Service following his or her reemployment unless the Committee again designates him or her as a Tier 1 or a Tier 2 Participant. If a Participant became an employee of SunTrust or an Affiliate in connection with a corporate merger or acquisition, the Committee shall determine upon the date such Participant becomes eligible to participate in this Plan under Article 3 to what extent, if any, such Participant’s service with the predecessor employer shall be included as his SERP Service under this Plan.
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SERP Service means service with the Company’s Controlled Group plus any service with a Prior Employer. Service with the Company’s Controlled Group shall be Credited Service under the Prudential Traditional Retirement Plan as to benefits for Participants under that plan or Cash Balance Service under the Prudential Cash Balance Plan as to benefits for Participants under that plan. Service with the Prior Employer will be service credited under the Prior Employer Plans, both qualified and unfunded plans, and shall be applied as though Credited Service or Cash Balance Service as determined by the Committee.
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SERP Service means service with the Company’s Controlled Group plus any service with a Prior Employer. Service with the Company’s Controlled Group shall be Credited Service under the Prudential Traditional Retirement Plan as to benefits for Participants under that
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Examples of SERP Service in a sentence

  • The SERP Basic Credit Rate is the percentage determined under Exhibit B of the Prudential Cash Balance Plan calculated using SERP Service.

  • The SERP Service Credit benefit payable to, or on behalf of, a Participant under this Section 4.2 shall be paid as of the later of the date the Participant terminates his or her employment with Crawford & Company and its affiliates or the date the Participant attains age 55.

  • A Participant will only be eligible for this Medical Benefit Differential provided the Participant would qualify as a Retiree if the Participant’s SERP Service under this Article were added to actual service used to determine Retiree eligibility under the Medical Plan.

  • The SERP Service Credit benefit payable to, or on behalf of, a Participant under this section 4.2 shall be paid as of the later of the date the Participant terminates his or her employment with Crawford & Company and its affiliates or the date the Participant attains age 55.

  • Any such election shall apply to the SERP Service and Matching Credit Benefits attributable to services performed during the Year covered by the election, and is irrevocable on the last day of the preceding Year.

  • Effective January 1, 2009, at the time the Committee designates an executive eligible to participate in this Plan, the Committee shall specify the applicable formula to calculate such Participant’s SERP Benefit, including any special SERP Compensation or SERP Service as described in Sections 2.22 and 2.25.

  • The Committee shall have the right, in its absolute discretion, to reduce a Participant's SERP Service Credit Benefit, SERP Retirement Benefit or both such benefits, in such proportion and combination as the Committee determines is reasonable, to offset any amount that the Committee determines is owed by a Participant to the Company or a subsidiary of the Company.

  • In the absence of any contrary rule established by the Committee, the distribution election shall remain in effect for SERP Service and Matching Credit Benefits credited to the Participant’s SERP account for a subsequent Year unless revised or revoked during the annual enrollment period for such subsequent Year.

  • The Committee shall have the right, in its absolute discretion, to withhold at the time of payment of a Participant’s SERP Retirement Benefit, SERP Service Credit Benefit or SERP Matching Credit Benefit, from the amount of such payment, in such proportion and combination as the Committee determines is reasonable, to offset (to the extent permissible under Section 409A) any amount that the Committee determines is owed by a Participant to the Company or a subsidiary of the Company.

  • On and after January 1, 2007, the Company will make a SERP Service Credit on behalf of each eligible Participant for each Year, which will be equal to 2.5% (or such other percentage determined by the Committee prior to such Year) of his or her Excess Compensation.


More Definitions of SERP Service

SERP Service means, effective January 1, 2001, a Participant’s whole and partial “years of benefit service” as calculated under the Retirement Plan (including his “prior benefit service” under the Retirement Plan). If a Participant terminates employment with SunTrust and all Affiliates and is subsequently rehired by SunTrust or an Affiliate, he or she shall not accrue any additional SERP Service following his or her reemployment unless the Committee again designates him or her as a Tier 1 or a Tier 2 Participant.
Sample 1
SERP Service means service with the Company's Controlled Group plus any service with a Prior Employer. Service with the Company's Controlled Group shall be Credited Service under the Prudential Traditional Retirement Plan as to benefits for Participants under that plan or Cash Balance Service under the Prudential Cash Balance Plan as to benefits for participants under that plan. Service with the Prior Employer will be service credited under the Prior Employer Plans, both qualified and unfunded plans.
Sample 1
SERP Service means an Employee's Service while a Participant, commencing on such Employee's first day of participation in the Plan as set forth in the Notice.
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SERP Service means the number of years of service an Employee is deemed to participate in this Plan. It is anticipated that Employees will be assigned positions within a Participating Company that may bring them into and out of participation in this Plan. The Committee shall have the discretion to designate those periods of actual service with a Participating Company that constitute SERP Service. SERP Service may include, in the Committee's sole discretion, service with a Participating Company prior to the Effective Date of this Plan and other service the Committee may deem appropriate in individual circumstances. Once credited to an Employee, the Committee does not have the discretion to reduce such service.
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SERP Service means the number of years of service an Employee is deemed to participate in this Plan. It is anticipated that Employees will be assigned positions within a Participating Company that may bring them into and out of participation in this Plan.
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SERP Service means an Employee’s Service while a Participant, commencing on such Employee’s first day of participation in the Plan as set forth in the Notice.
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Related to SERP Service

  • CMU Service means the Central Moneymarkets Unit Service, operated by the Hong Kong Monetary Authority;

  • 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.

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

  • 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.

  • Covered service means a health care service provided to a

  • 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.

  • 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.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • In-service means an educational program, which is designed to increase the knowledge, skills, and overall effectiveness of personnel.

  • Grandfathered Service means service which is no longer available for new customers and is limited to the current customer at their current locations with certain provisioning limitations, including but not limited to upgrade denials, feature adds/changes and responsible/billing party.

  • Company Service means the Company's email, Internet, security management services provided to End Users for the purposes of conducting Company's internal business.

  • Room service means furnishing an alcoholic product to a person in a guest room of a:

  • SERP Benefit means the benefit described in Section 5.1.

  • 911 Service means a universal telephone number which gives the public direct access to the Public Safety Answering Point (“PSAP”). Basic 911 service collects 911 calls from one or more local exchange switches that serve a geographic area. The calls are then sent to the correct authority designated to receive such calls.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • scheduled service means the City Representative has notified the Contractor to perform services ten (10) working days prior to commencement of work by Contractor.

  • Basic Plan means as to any Member or Vested Former Member the defined benefit pension plan of the Company or an Affiliated Employer intended to meet the requirements of Code Section 401(a) pursuant to which retirement benefits are payable to such Member or Vested Former Member or to the Surviving Spouse or designated beneficiary of a deceased Member or Vested Former Member.

  • Cloud Service means any distinct, subscription-based, hosted, supported and operated on-demand solution provided by SAP under an Order Form.

  • Customized employment means an approach to supported employment which individualizes the employment relationship between employees and employers in ways that meet the needs of both. Customized employment is based on an individualized determination of the strengths, needs, and interests of the person with a disability and is also designed to meet the specific needs of the employer. Customized employment may include employment developed through job carving, self-employment or entrepreneurial initiatives, or other job development or restructuring strategies that result in job responsibilities being customized and individually negotiated to fit the needs of the individual with a disability. Customized employment assumes the provision of reasonable accommodations and supports necessary for the individual to perform the functions of a job that is individually negotiated and developed.

  • Level of service has the meaning set forth in Section 2.02(c).

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Retirement Eligibility means Employee’s attainment of 60 years of age and ten years of continuous employment with Corporation.

  • Service employee, means any person engaged in the performance of this contract other than any person employed in a bona fide executive, administrative, or professional capacity, as these terms are defined in Part 541 of Title 29, Code of Federal Regulations, as revised. It includes all such persons regardless of any contractual relationship that may be alleged to exist between a Contractor or subcontractor and such persons.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Ongoing employee means an employee who has been employed for at least one complete standard measurement period.

  • air service means a flight or a series of flights carrying passengers, cargo and/or mail for remuneration and/or hire;