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Author: alzaco68 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19222  
Subject: Profit Sharing Trust (PST) Date: 4/4/2000 9:07 PM
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I am fortunate enough to work for a company that offers a PST. I believe that i am eligible for participation however i have been told that i am not for this year. My start date was 6/28/99-present. the specific participation requirements= "Employees will be eligible to participate in the plan if they meet all the following requirements: They have completed a year of service, which is defined as 1,000 hours of service during a consecutive 12 month period." Plan year begins on April 1st and ends on March 31st. I have easily worked 1,000 hrs and actually approaches 2,000. thanks in advance.
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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3405 of 19222
Subject: Re: Profit Sharing Trust (PST) Date: 4/4/2000 9:14 PM
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I am fortunate enough to work for a company that offers a PST. I believe that i am eligible for participation however i
have been told that i am not for this year. My start date was 6/28/99-present. the specific participation requirements=
"Employees will be eligible to participate in the plan if they meet all the following requirements: They have completed a
year of service, which is defined as 1,000 hours of service during a consecutive 12 month period." Plan year begins on
April 1st and ends on March 31st. I have easily worked 1,000 hrs and actually approaches 2,000. thanks in advance.


I assume that they agree that you have the 1,000 hours.

But they do not agree that you have worked 12 months as of April 1st.

If you had worked a year and had 900 hours of service you would not be eligible. If you had worked a year and had 1,100 hours you would be eligible.

Your 8 months of service is short by 4 months. The rule is AND not 1 yr or 1,000hrs.

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Author: alzaco68 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3407 of 19222
Subject: Re: Profit Sharing Trust (PST) Date: 4/4/2000 9:57 PM
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thank you for your timely response, however, the specific requirements for participation does not contain the word "and". the statement states "....1000 hrs in a consecutive 12 month period"

I interprete this as.....you CANNOT use hrs or time prior to the April 1st start of the plan year in order to complete your 1000 hrs. thank you

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