Eligibility for Discretionary Contribution Clause Samples

Eligibility for Discretionary Contribution. A Member shall not be eligible to share in a Discretionary Contribution, to the extent applicable, until the first January 1 or July 1 coincident with or next following the later of (a) his completion of a 12-consecutive month period starting on his Date of Hire, if he renders at least 1,000 Hours of Service during such 12-consecutive month period or, if he does not render at least 1,000 Hours of Service during such 12-consecutive month period, the first Plan Year (beginning after his Date of Hire) during which he has renders at least 1,000 Hours of Service, or (b) his twenty-first (21st) birthday. In addition, a Member shall not be eligible to share in a Discretionary Contribution for a particular Plan Year if he is has not rendered at least 1,000 Hours of Service during such Plan Year and is not an Eligible Employee on the last day of such Plan Year, unless he ceased to be an Eligible Employee during the Plan Year by reason of death, Disability, termination of employment after attaining age 60 with at least 10 Years of Service or retirement at or after his Normal Retirement Date. A Member's Compensation prior to the Entry Date he is eligible for Discretionary Contributions pursuant to this Section 3.6.2 shall not be taken into account in determining any share in a Discretionary Contribution to which he may become entitled for purposes of the allocation described in 3.6.1 above.
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Related to Eligibility for Discretionary Contribution

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.