Years of Service for Vesting means, with respect to any Employee, the number of whole years of his periods of service with the Employer or a Related Employer (the elapsed time method to compute vesting service), subject to any exclusions elected by the Employer in Section 1.07(c). An Employee will receive credit for the aggregate of all time period(s) commencing with the Employee’s Employment Commencement Date and ending on the date a break in service begins, unless any such years are excluded by Section 1.07(c). An Employee will also receive credit for any period of severance of less than 12 consecutive months. Fractional periods of a year will be expressed in terms of days.
Years of Service for Vesting means, with respect to any Employee, the number of whole years of his periods of service with the Employer or a Related Employer (the elapsed time method to compute vesting service), subject to any exclusions elected by the Employer in Section 1.07(b). An Employee will receive credit for the aggregate of all time period(s) commencing with the Employee's Employment Commencement Date and ending on the date a break in service begins, unless any such years are excluded by Section 1.07(b). An Employee will also receive credit for any period of severance of less than 12 consecutive months. Fractional periods of a year will be expressed in terms of days. In the case of a Participant who has 5 consecutive 1-year breaks in service, all years of service after such breaks in service will be disregarded for the purpose of vesting the Employer-derived account balance that accrued before such breaks, but both pre-break and post-break service will count for the purposes of vesting the Employer-derived account balance that accrues after such breaks. Both accounts will share in the earnings and losses of the fund. In the case of a Participant who does not have 5 consecutive 1-year breaks in service, both the pre-break and post-break service will count in vesting both the pre-break and post-break employer-derived account balance. A break in service is a period of severance of at least 12 consecutive months. Period of severance is a continuous period of time during which the Employee is not employed by the Employer. Such period begins on the date the Employee retires, quits or is discharged, or if earlier, the 12-month anniversary of the date on which the Employee was otherwise first absent from service. In the case of an individual who is absent from work for maternity or paternity reasons, the 12-consecutive month period beginning on the first anniversary of the first date of such absence shall not constitute a break in service. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (A) by reason of the pregnancy of the individual, (B) by reason of the birth of a child of the individual, (C) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (D) for purposes of caring for such child for a period beginning immediately following such birth or placement. If the Plan maintained by the Employer is the plan of a predecessor employer, an Employee's Years o...
Years of Service for Vesting means the number of years determined by:
Examples of Years of Service for Vesting in a sentence
This policy does not supersede any other applicable law or higher level directive or policy.
The 60 PAYMENT BENEFIT applies to all participants who die before having a permanent break in service (one to four Years of Service for Vesting followed by five consecutive break years).
The employee will then begin accumulating Years of Credited Service and Years of Service for Vesting as though he or she is a new employee.
Early Retirement Age is the first day of the month after the Participant attains age 55 (specify 55 or greater) and completes 10 Years of Service for Vesting.
If the Employee satisfies the One Year Holdout Rule, then the Employee's Year(s) of Service for Vesting purposes will include Year(s) of Service that were completed prior to an Employee's Break(s) in Service, retroactively to the first day of the Vesting Computation Period in which the Employee completes one (1) Year of Service.
More Definitions of Years of Service for Vesting
Years of Service for Vesting means, with respect to any Employee, the number of whole years of his periods of service with the Employer or a Related Employer (the elapsed time method to compute vesting service), subject to any exclusions elected by the Employer in Section 1.07(b). An Employee will receive credit for the aggregate of all time period(s) commencing with the Employee's Employment Commencement Date and ending on the date a break in service begins, unless any such years are excluded by Section 1.07(b). An Employee will also receive credit for any period of severance of less than 12 consecutive months. Fractional periods of a year will be expressed in terms of days. In the case of a Participant who has 5 consecutive 1-year breaks in service, all years of service after such breaks in service will be disregarded for the purpose of vesting the Employer-derived account balance that accrued before such breaks, but both pre-break and post-break service will count for the purposes of vesting the Employer-derived account balance that accrues after such breaks. Both accounts will share in the earnings and losses of the fund.
Years of Service for Vesting means, with respect to any Employee, the number of whole years of his periods of service with the Employer or a Related Employer (the elapsed time method to compute vesting service), subject to any exclusions elected by the Employer in Section 1.07(b). An Employee will receive credit for the aggregate of all time period(s) commencing with the Employee's Employment Commencement Date and ending on the date a break in service begins, unless any such years are excluded by Section 1.07(b). An Employee will
Years of Service for Vesting means, with respect to any Employee, the number of whole years of the Employee’s Service (under the elapsed time method) with an Employer; provided that, effective for Participants whose Separation from Service occurs before April 1, 2007, Years of Service for Vesting does not include Service before the Participant became an Eligible Employee. An Employee will receive credit for the aggregate of all time period(s) commencing with the date on which the Employee first performed Service and ending on the date of the Employee’s Termination. Fractional periods of a year will be expressed in terms of days. With respect to any business entity acquired by or merged into the Company or an Employer (a “Predecessor Employer”), each Participant who was actively employed by the Predecessor Employer as of the date such Predecessor Employer was acquired by or merged into the Company or an Employer shall receive credit for Years of Service for Vesting under the Plan for all years of employment with such Predecessor Employer that otherwise would have been counted as Years of Service under this Plan if such employment had been with an Employer, unless the Company’s Board of Directors expressly provides otherwise by written instrument.
Years of Service for Vesting means, with respect to any Employee, the number of whole years of his periods of service with the Employer or a Related Employer (the elapsed time method to compute vesting service). An Employee will receive credit for the aggregate of all time period(s) commencing with the Employee's Employment Commencement Date and ending on the date a break in service begins. An Employee will also receive credit for any period of severance of less than 12 consecutive months. Fractional periods of a year will be expressed in terms of days. In the case of a Participant who has 5 consecutive 1-year breaks in service, all years of service after such breaks in service will be disregarded for the purpose of vesting the Employer-derived account balance that accrued before such breaks, but both pre-break and post-break service will count for the purposes of vesting the Employer-derived account balance that accrues after such breaks. Both accounts will share in the earnings and losses of the fund. In the case of a Participant who does not have 5 consecutive 1-year breaks in service, both the pre-break and post-break service will count in vesting both the pre-break and post-break employer-derived account balance. A break in service is a period of severance of at least 12 consecutive months. Period of severance is a continuous period of time during which the Employee is not employed by the Employer. Such period begins on the date the Employee retires, quits or is discharged, or if earlier, the 12 month anniversary of the date on which the Employee was otherwise first absent from service. In the case of an individual who is absent from work for maternity or paternity reasons, the 12-consecutive month period beginning on the first anniversary of the first date of such absence shall not constitute a break in service. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (l) by reason of the pregnancy of the individual, (2) by reason of the birth of a child of the individual, (3) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (4) for purposes of caring for such child for a period beginning immediately following such birth or placement. If the Plan maintained by the Employer is the Plan of a predecessor employer, an Employee's Years of Service for Vesting shall include years of service with such predecessor employer. In any case in which the Plan maintained...
Years of Service for Vesting means, with respect to any Employee, the number of whole years of his periods of service with the Employer or a Related Employer (the elapsed time method to compute vesting service), subject to any exclusions elected by the Employer in Section 1.07(b). An Employee will receive credit for the aggregate of all time period(s) commencing with the Employee's Employment Commencement Date and ending on the date a break in service begins, unless any such years are excluded by Section 1.07(b). An Employee will also receive credit for any period of
Years of Service for Vesting means, with respect to an Employee or Participant, a Period of Service of one full year, excluding from such sum (a) any Periods of Service before the date on which he or she attains age 18, (b) any Periods of Service prior to a Substantial Period of Severance, and (c) any Period of Service prior to the establishment of this Plan.
Years of Service for Vesting means each Plan Year during which you complete at least 1,000 hours of vesting service, excluding service lost by a Permanent Break. Hours of Vesting Service include Covered Hours of Employment, certain noncontributory service with a participating employer or an affiliate approved by the Trustees, such as hours worked in a non-bargaining unit or other capacity whether or not contiguous, continuous, or interrupted, service in the electrical industry with nonparticipating employers that is recognized by the Trust under a reciprocity agreement or arrangement with another electrical industry pension trust, and qualified military or other uniformed services recognized under federal military leave law (USERRA).