Common use of Active Participant Clause in Contracts

Active Participant. The discretionary Employer Contributions and Forfeitures, if applicable, will only be allocated to: [Check one. See Section 2.2, Section 5.3(e) and Part VII.F.] a. [ x ] Standard: each Participant who is an Eligible Employee at any time during the Plan Year and (1) who is employed (or on an authorized leave of absence) on the last day of the Plan Year and (if the "Hours of Service" method is selected) who is credited with more than 1,000 Hours of Service during the Plan Year or (2) who terminated employment during the Plan Year due to death, disability or retirement. b. [ ] Alternatives to standard: [Check one or more.] (1) [ ] The last day employment requirement will not apply. (2) [ ] The 1,000 hours requirement will not apply. (3) [ ] The exceptions for death, disability and retirement will not apply. (4) [ ] Each Participant who is not employed on the last day of the Plan Year but is credited with more than 500 Hours of Service during the Plan Year will be an Active Participant. [Special equivalencies apply if "Elapsed Time" is selected. See Part V.A.2.] (5) [ ] The Participant must also be credited with at least 2 Years of Service on the last day of the Plan Year.