Year of Benefit Service definition

Year of Benefit Service means a Plan Year in which a Participant is credited with 1,000 hours of service as an employee with the Company. Participant will also be credited with 1/12 of a Year of Benefit Service to the nearest full calendar month of employment with the Company during the Plan Year in which such Participant dies or suffers a Disability provided that such Plan Year precedes the Plan Year containing the Participant’s 65th birthday.

Year of Benefit Service means the service credited to a Participant for purposes of determining the Participant’s Points. For this purpose, a Participant’s Years of Benefit Service equal the sum of:

Year of Benefit Service means for periods on and after the Effective Date, any Plan Year during which an Employee completes 1,000 or more Hours of Service. In the case of any Employee who has a Substantial Break, any Year of Benefit Service completed before such Substantial Break shall be disregarded.

Examples of Year of Benefit Service in a sentence

• The benefit for each Year of Benefit Service over 20 shall be one-half of one percent (.5 percent) of Final Average Pay, minus any portion of the Retirement Plan Benefit and Primary Social Security Benefit that exceeds the basic benefit under 2.1-1 for the first 20 Years of Benefit Service.

• A Participant shall earn a "Year of Benefit Service" for each full or fractional year of Credited Service to which the Participant was entitled under the terms of the Plan prior to January 1, 1976, and Plan Years after December 31, 1975, in which the Participant completes at least 1,000 Hours of Service in Covered Employment.

• The benefit for each Year of Benefit Service over 25 shall be one-half of one percent (.5 percent) of Final Average Pay, minus any portion of the Retirement Plan Benefit and Primary Social Security Benefit that exceeds the basic benefit under 2.1-1 for the first 25 Years of Benefit Service.

• The Commission in its Order dated 30th March, 2016 had approved power purchase cost at the rate of Rs.5.25 per unit for FY19.

• A Participant earns a "Year of Benefit Service" for each Plan Year under the following schedule:Hours of Service in Covered Employment 0 200 500 800 1,000 (b) Early Retirement.

More Definitions of Year of Benefit Service

Year of Benefit Service means employment recognized as such for the purposes of computing a benefit under the Plan with respect to service on or after January 1, 1976, as provided under Article 2.

Year of Benefit Service means employment recognized as such for the purposes of computing a benefit under the Plan with

Year of Benefit Service means a full 365 days in an Employee's Period of Service, excluding: (i) the period before the Employee became a Member; (ii) any period during which the Employee is not an Eligible Employee; and (iii) service before January 1, 1976. A Member shall not receive credit for more than 40 Years of Benefit Service.

Year of Benefit Service means a year of service used in calculating the amount of a Participant’s Accrued Benefit. A Participant’s Years of Benefit Service will be determined as provided in Section 4.2.

Year of Benefit Service. 1.26(a) A Period of Service of one year as a Salaried Employee, excluding all service before April 6, 1992. For purposes hereof, where a Period of Service as a Salaried Employee is longer than one year, it shall be treated as that number of Years of Benefit Service (and fractional part thereof) equal to the whole number of years (and fractional part thereof) in such Period of Service.

Year of Benefit Service means each calendar year, prior to the Freeze Date, in which you complete 1,000 or more Hours of Service as an Employee, except:

Year of Benefit Service means the period of service granted to an Employee for the accrual of benefits, as defined in the Appendix applicable to a Participant. Notwithstanding any provision in the Plan to the contrary, Years of Benefit Service shall not include years with respect to which a Participant has received a distribution of his entire Accrued Benefit, unless the Participant is re-employed before incurring 5 consecutive Breaks in Service commencing after distribution of his Accrued Benefit