Eligibility Computation Periods Sample Clauses
The 'Eligibility Computation Periods' clause defines the specific timeframes used to determine whether a party or individual meets certain eligibility requirements under an agreement. Typically, this clause outlines how and when eligibility is assessed, such as by referencing calendar years, fiscal quarters, or other recurring periods, and may specify the data or events considered during each period. Its core function is to provide a clear and consistent method for evaluating eligibility, thereby reducing ambiguity and ensuring that all parties understand when and how eligibility is measured.
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Eligibility Computation Periods. For purposes of eligibility for participation, the initial computation period shall begin with the date on which the Employee first performs an Hour of Service. If any Employer becomes an Affiliate by reason of acquisition, the initial computation period shall begin with the date on which the Employee first performed an Hour of Service with the acquired Employer, unless otherwise specified in the Adoption Agreement. The eligibility computation period beginning after a one-year Break-in-Service shall be measured from the date on which an Employee again performs an Hour of Service. If Breaks-in-Service and Years of Service are computed under the 1,000 Hours of Service Method, then the eligibility computation period shall shift to the Plan Year which includes the first anniversary of the date on which the Employee first performed an Hour of Service. An Employee who is credited with the required Hours of Service (as set forth in the Adoption Agreement) in both the initial computation period (or the computation period beginning after a one-year Break-in-Service) and the Plan Year which includes the first anniversary of the date on which the Employee first performed an Hour of Service, shall be credited with two (2) Years of Service for purposes of eligibility to Participate. If Breaks-in-Service and Years of Service are computed under the Elapsed Time Method, then subsequent computation periods shall begin on the anniversary date of the initial computation period.
Eligibility Computation Periods. In determining whether an Employee has earned a Year of Service for eligibility purposes, an Employee’s initial Eligibility Computation Period is the 12-month period beginning on the Employee’s Employment Commencement Date. Subsequent Eligibility Computation Periods will either be based on Plan Years or Anniversary Years (as set forth in AA §4-3).
Eligibility Computation Periods. For purposes of determining Years of Service under this Article, an Employee’s initial Eligibility Computation Period is the 12-month period beginning on the Employee’s Employment Commencement Date. If one Year of Service is required for eligibility, and the Employee is not credited with a Year of Service for the first Eligibility Computation Period, subsequent Eligibility Computation Periods are calculated under the Shift-to-Plan-Year Method, unless the Employer elects under Part 7, #24.a. of the Agreement [Part 7, #42.a. of the 401(k) Agreement] to use the Anniversary Year Method. If two Years of Service are required for eligibility, subsequent Eligibility Computation Periods are measured on the Anniversary Year Method, unless the Employer elects under Part 7, #24.b. of the Agreement [Part 7, #42.b. of the 401(k) Agreement] to use the Shift-to-Plan-Year Method. In the case of a 401(k) Agreement in which a two Years of Service eligibility condition is used for either Employer Matching Contributions or Employer Nonelective Contributions, the method used to determine Eligibility Computation Periods for the two Years of Service condition also will apply to any one Year of Service eligibility condition used with respect to any other contributions under the Plan.
Eligibility Computation Periods. For purposes of determining the eligibility of an Employee to participate in the Plan, the Employee's initial eligibility computation period which shall be used to measure the Employee's Years of Service and Breaks in Service shall be the 12-consecutive month period beginning on the date the Employee first performs an Hour of Service for the Employer (the Employee's "employment commencement date"). The Employee's subsequent eligibility computation periods shall be the 12-consecutive month periods beginning on each anniversary of the Employee's employment commencement date.
Eligibility Computation Periods. For purposes of determining Years of Service under this Article, an Employee's initial Eligibility Computation Period is the 12-month period beginning on the Employee's Employment Commencement Date. If one Year of Service is required for eligibility, and the Employee is not credited with a Year of Service for the first Eligibility Computation Period, subsequent Eligibility Computation Periods are calculated under the Shift-to-Plan-Year Method, unless the Employer elects under Part 7, #24.a. of the Agreement [Part 7, #42.a. of the Profit Sharing/401(k) Agreement] to use the Anniversary Year Method. If two Years of Service are required for eligibility, subsequent Eligibility Computation Periods are measured on the Anniversary Year Method, unless the Employer elects under Part 7, #24.b. of the Agreement [Part 7, #42.b. of the Profit Sharing/401(k) Agreement] to use the Shift-to-Plan-Year Method. In the case of a Profit Sharing/401(k) Agreement in which a two Years of Service eligibility condition is used for either Employer Matching Contributions or Employer Nonelective Contributions, the method used to determine Eligibility Computation Periods for the two Years of Service condition also will apply to any one Year of Service eligibility condition used with respect to any other contributions under the Plan.
(1) Shift-to-Plan-Year Method. Under the Shift-to-Plan-Year Method, after the initial Eligibility Computation Period, subsequent Eligibility Computation Periods are measured using the Plan Year. In applying the Shift-to-Plan-Year Method, the first Eligibility Computation Period following the shift to the Plan Year is the first Plan Year that commences after the Employee's Employment Commencement Date. See Section 11.7 for rules that apply if there is a short Plan Year.
Eligibility Computation Periods. (a) For purposes of determining Years of Service and Breaks in Service for purposes of eligibility, the initial eligibility computation period is the twelve (12)- consecutive month period beginning on the date the Employee first performs an Hour of Service for the Employer (employment commencement date). The succeeding twelve (12)-consecutive month periods commence with the first Plan Year which commences prior to the first anniversary of the Employee's employment commence ment date regardless of whether the Employee is entitled to be credited with 1,000 Hours of Service during the initial eligibility computation period. An employee who is credited with 1,000 hours of service in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's initial eligibility computation period will be credited with two Years of Service for purposes of eligibility to participate.
(b) Years of Service and Breaks in Service will be measured on the same eligibility computation period.
(c) All Years of Service with the Employer are counted toward eligibility except the following:
(1) If an Employee has a one (1)-year Break in Service before satisfying the Plan's requirement for eligibility, service before such break will not be taken into account. (The above provision is only permitted if the Plan provides one hundred percent (100%) vesting after an Employee completes two (2) Years of Service.)
(2) In the case of a Participant who does not have any nonforfeitable right to his or her Account balance derived from Employer contributions, Years of Service before a period of consecutive one (1) year Breaks in Service will not be taken into account in computing eligibility service if the number of consecutive one (1)-year Breaks in Service in such period equals or exceeds the greater of five (5) of the aggregate number of Years of Service. Such aggregate number of Years of Service will not include any Years of Service disregarded under the preceding sentence by reason of prior Breaks in Service.
(3) If a Participant's Years of Service are disregarded pursuant to the preceding paragraph, such Participant will be treated as a new Employee for eligibility purposes. If a Participant's Years of Service may not be disregarded pursuant to the preceding paragraph, such Participant shall continue to participate in the Plan, or, if terminated, shall participate immediately upon reemployment.
(d) In the event a Particip...
Eligibility Computation Periods