Vesting Years of Service definition

Vesting Years of Service means, with respect to any Employee, the Employee’s period of Service. The Employee’s Service counted in computing Vesting Years of Service need not be consecutive or continuous and all fractional Service shall be aggregated on the basis that 365 days of Service equal one Vesting Year of Service.
Sample 1
Vesting Years of Service means all periods beginning on the Employee's employment date with the Employer and ending on the date that the Employee terminates such employment with the Employer. If an Employee terminates employment with the Employer and then performs an hour of service with the Employer within twelve months of the termination date, the Employee shall receive credit for the period of severance. Second: Section 3.02(a) of the Plan is revised, effective February 15, 2007, to read as follows:
Sample 1
Vesting Years of Service. Years of Service credited for vesting shall exclude the years checked below subject to Section 11.03: (select as desired) [X] (a) Years of Service before the Employee's 18th (cannot exceed 18) birthday. (If Regular Method is used, the Plan Year in which the Employee attains age 18 shall not be excluded.) [X] (b) Years of Service prior to the original Effective Date of this Plan or a predecessor plan. [_] (c) Years of Service prior to __________________. (Date selected may not be later than the original effective date of this Plan or a predecessor plan.) [_] (d) Years of Service during a period for which the Employee declined to contribute to a plan requiring Employee Contributions. In the case of a plan using the elapsed time method, the Service which shall be disregarded is the period with respect to which the mandatory contribution is not made. [_]
Sample 1

Examples of Vesting Years of Service in a sentence

  • Vesting Years of Service shall be determined in accordance with the election made by the Employer in the Adoption Agreement.

  • Vesting Years of Service in the event of the rehire of a Participant shall be reinstated, and amounts previously forfeited by such Participants shall be reinstated from forfeitures made by other Participants, or shall be reinstated by the Employer.

  • Since you have less than 15 Vesting Years of Service, this benefit would start at age 65, and you would not have the option to take it earlier than at age 65.

  • All Vesting Years of Service (whether or not continuous) shall be taken into account.

  • Notwithstanding the preceding provisions of this Article 16, any period of employment with a non-U.S. Affiliated Company shall be recognized solely for the purpose of determining an Employee’s Vesting Years of Service under subparagraph (i) above [and for purposes of determining an Employee’s eligibility for benefits under subparagraph (ii)].

  • An individual is eligible for the enhanced benefit of this Section 4.8 if the individual (i) has been designated a “Transferred Corning Employee” within the meaning of the Asset Purchase Agreement between Avanex Corporation and the Company; (ii) is covered by the grandfathered Part I benefit under the Qualified Plan, if applicable; and (iii) has or by December 31, 2003 will have a combination of age plus Vesting Years of Service that equals at least 69.

  • Referring to Example B.1.: Let's suppose you die at age 55 with 24 Vesting Years of Service, with an Accrued Pension of $468.40, and with the amount payable commencing at your age 55 of $398.14 as in Example B.1. If you had retired under the 55/20 Early Retirement provision, you would have received a monthly benefit of $376.84 under Option B.

  • With respect to a Participant who became a Member of the Retirement Plan on or after July, 1, 1987, "Years of Service" means "Vesting Years of Service" as defined in Section 1.50 of the Retirement Plan.

  • If you die at age 51, your surviving spouse can elect commencement of your benefit between your 55th and 65th birthdays, since you had 20 Vesting Years of Service.

  • An Employee’s Vesting Years of Service shall be determined on the basis of his period of employment with the Company and all Affiliated Companies (unless otherwise specified in Schedule J).


More Definitions of Vesting Years of Service

Vesting Years of Service means all periods beginning on the Employee's employment date with the Employer and ending on the date that the Employee terminates such employment with the Employer. Notwithstanding the foregoing, however, a Participant's years of service with a non-participating Affiliated Company shall be included for purposes of calculating the Participant's Vesting Years of Service.
Sample 1
Vesting Years of Service means each calendar year beginning January 1, 1995 in whish the Eligible Employee is a fill-time Employee for the entire year as determined by the Executive Committee.
Sample 1
Vesting Years of Service. Years of Service credited for vesting shall exclude the years checked below subject to Section 11.01: (select as desired) [X] (a) Years of Service before the Employee's 18 (cannot exceed 18) birthday. (If Regular Method is used, the Plan Year in which the Employee attains age 18 shall not be excluded.)
Sample 1

Related to Vesting Years of 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.

  • Vesting Year means a unit of Service credited to a Participant pursuant to Section 9.2 for purposes of determining his vested interest in his Account.

  • 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.

  • 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.

  • 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.

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

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

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

  • 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.

  • 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.

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

  • Plan Year means the calendar year.

  • 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.

  • Date of Service means the date on which the client receives medical services or items, unless otherwise specified in the appropriate provider rules. For items that are mailed or shipped by the provider, the date of service is the date on which the order was received, the date on which the item was fabricated, or the date on which the item was mailed or shipped.

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

  • 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.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • 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.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Year of Vesting Service means a vesting computation period during which you complete 1,000 hours of service during the Plan Year.

  • 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.

  • Accrued Benefit have the meanings specified in ERISA.

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

  • Top Heavy Plan Year means a Plan Year during which the Plan is a Top Heavy Plan.

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

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.