Plan Year definition: Copy, customize, and use instantly
Introduction
The term "Plan Year" refers to a specific 12-month period that governs the timing of benefits, eligibility, or other provisions in employee benefit plans, retirement plans, or insurance policies. It is essential for determining deadlines, reporting, and compliance within the terms of a plan.
Below are various examples of how "Plan Year" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Plan Year" as the annual period for employee benefits
This definition ties "Plan Year" to employee benefits eligibility and management.
"Plan Year" means the 12-month period starting from [starting date], during which an employee benefits plan’s provisions, such as eligibility, contributions, and elections, are calculated and administered.
Definition of "Plan Year" as the fiscal period for a retirement plan
This definition connects "Plan Year" to retirement plan schedules and reporting.
"Plan Year" refers to the 12-month period used for the calculation of benefits, contributions, and reporting for a retirement plan, beginning on [starting date] and ending on [ending date].
Definition of "Plan Year" as the applicable year for insurance coverage
This definition links "Plan Year" to insurance policy periods.
"Plan Year" means the period beginning on [starting date] and ending on [ending date], during which insurance coverage, premiums, and claims are governed under the terms of the insurance plan.
Definition of "Plan Year" as the timeframe for employee health benefits
This definition ties "Plan Year" to the annual cycle for health benefits.
"Plan Year" refers to the 12-month period during which an employee's health benefits, including premiums, coverage, and eligibility, are determined, typically starting on [starting date] and ending on [ending date].
Definition of "Plan Year" as the period for assessing performance incentives
This definition connects "Plan Year" to performance evaluation in compensation plans.
"Plan Year" means the 12-month period used to measure performance and determine eligibility for bonuses, profit sharing, or other performance-based incentives under the company’s incentive plan.
Definition of "Plan Year" as the timing for contributions to a savings plan
This definition ties "Plan Year" to savings or retirement contributions.
"Plan Year" refers to the 12-month period during which contributions to the employee savings or retirement plan, including employer matches and employee deferrals, are made.
Definition of "Plan Year" as the calendar year for benefits administration
This definition connects "Plan Year" to the calendar year cycle for managing benefits.
"Plan Year" means the calendar year, starting on January 1 and ending on December 31, during which all employee benefits are administered, including enrollment, changes, and reporting.
Definition of "Plan Year" as the measurement period for annual benefit changes
This definition links "Plan Year" to benefit eligibility and adjustments.
"Plan Year" refers to the 12-month period during which eligibility for benefits, such as health insurance or retirement contributions, is assessed and any changes to the plan are implemented.
Definition of "Plan Year" as the duration of a health savings account (HSA) cycle
This definition ties "Plan Year" to health savings account management.
"Plan Year" means the 12-month period during which contributions to a health savings account (HSA) are made, benefits are utilized, and the account is managed in accordance with plan guidelines.
Definition of "Plan Year" as the applicable period for taxation and benefits adjustments
This definition connects "Plan Year" to tax and benefits planning.
"Plan Year" refers to the 12-month period that is used for determining tax deductions, benefit eligibility, and adjustments to an individual’s benefits under the plan.
Definition of "Plan Year" as the timeframe for employee stock purchase plans
This definition links "Plan Year" to stock purchase plan contributions.
"Plan Year" means the 12-month period in which eligible employees can make contributions to the employee stock purchase plan (ESPP), with stock purchases occurring at the end of the plan year.
Definition of "Plan Year" as the cycle for wellness program benefits
This definition ties "Plan Year" to employee wellness programs.
"Plan Year" refers to the 12-month period during which employees can access wellness program benefits, including fitness reimbursements, health screenings, and other wellness initiatives.
Definition of "Plan Year" as the applicable period for discretionary benefit changes
This definition connects "Plan Year" to adjustments in employee benefits.
"Plan Year" means the 12-month period within which the employer may make discretionary changes to employee benefits, including altering premiums, coverage options, or eligibility criteria.
Definition of "Plan Year" as the term used for short-term disability benefits
This definition links "Plan Year" to short-term disability plans.
"Plan Year" refers to the 12-month period used for the calculation and administration of short-term disability benefits, including determining eligibility and benefit amounts.
Definition of "Plan Year" as the timing for benefit elections under a flexible benefits plan
This definition ties "Plan Year" to elections in flexible benefits plans.
"Plan Year" means the 12-month period during which employees may make elections or changes to their benefits under a flexible benefits plan, including health, life, and disability coverage.
Definition of "Plan Year" as the annual period for company-wide performance targets
This definition connects "Plan Year" to company-wide goal setting.
"Plan Year" refers to the 12-month period during which company-wide performance targets, benchmarks, or goals are set and evaluated, with corresponding rewards or consequences tied to the outcomes.
Definition of "Plan Year" as the applicable year for insurance policy renewal
This definition links "Plan Year" to insurance renewal cycles.
"Plan Year" means the 12-month period starting on the policy effective date and ending on the renewal date, during which insurance coverage, premiums, and policy terms are valid.
Definition of "Plan Year" as the period used for corporate tax planning
This definition ties "Plan Year" to corporate tax filing.
"Plan Year" refers to the 12-month period used for calculating corporate taxes, including deductions, credits, and benefits related to employee plans and compensation.
Definition of "Plan Year" as the operational period for employee benefits planning
This definition connects "Plan Year" to the management of benefits.
"Plan Year" means the 12-month period during which employee benefits, including health insurance, retirement contributions, and wellness programs, are managed and evaluated by the employer.
Definition of "Plan Year" as the annual cycle for eligibility determinations
This definition ties "Plan Year" to determining eligibility for benefits.
"Plan Year" means the 12-month period during which employee eligibility for benefits, such as health coverage or retirement plans, is determined and adjusted.
Definition of "Plan Year" as the duration for benefits enrollment periods
This definition connects "Plan Year" to benefits enrollment windows.
"Plan Year" refers to the 12-month period that governs the open enrollment period for benefits, including the selection of insurance plans, health savings accounts, or other employee benefits.
Definition of "Plan Year" as the period for contributions to a retirement savings plan
This definition links "Plan Year" to retirement savings.
"Plan Year" means the 12-month period used for making contributions to retirement savings plans such as 401(k) or pension plans, with both employee and employer contributions counted.
Definition of "Plan Year" as the timeframe for paid time off (PTO) accruals
This definition ties "Plan Year" to the accrual of paid time off.
"Plan Year" refers to the 12-month period during which employees accrue paid time off (PTO), sick days, or vacation days, which can be carried over or used within the designated year.
Definition of "Plan Year" as the reporting cycle for health insurance plans
This definition connects "Plan Year" to reporting for insurance purposes.
"Plan Year" means the 12-month period during which claims, utilization, and premiums for a health insurance plan are reported, and any adjustments to rates or coverage are made.
Definition of "Plan Year" as the applicable cycle for health savings accounts
This definition ties "Plan Year" to health savings account management.
"Plan Year" refers to the 12-month period during which contributions to and distributions from health savings accounts (HSAs) are tracked and managed.
Definition of "Plan Year" as the period used for tracking performance under incentive plans
This definition connects "Plan Year" to performance-based incentives.
"Plan Year" means the 12-month period during which performance targets are set, monitored, and evaluated to determine eligibility for incentive compensation or bonus payouts.
Definition of "Plan Year" as the annual duration for health and wellness benefits
This definition links "Plan Year" to wellness programs.
"Plan Year" refers to the 12-month period during which an employee's eligibility for health and wellness benefits, such as fitness reimbursements or mental health services, is assessed and managed.
Definition of "Plan Year" as the annual period for employee insurance elections
This definition ties "Plan Year" to insurance plan elections.
"Plan Year" means the 12-month period during which employees may elect or modify their insurance coverage, including health, dental, and life insurance, as per the benefits program.
Definition of "Plan Year" as the period used for employer contributions to employee plans
This definition connects "Plan Year" to employer contributions.
"Plan Year" refers to the 12-month period during which employer contributions, such as matching funds to retirement plans or wellness allowances, are provided and documented.
Definition of "Plan Year" as the timeframe for tax-qualified benefits eligibility
This definition links "Plan Year" to tax-advantaged benefits.
"Plan Year" means the 12-month period used to determine an employee’s eligibility for tax-advantaged benefits, including contributions to 401(k) or flexible spending accounts (FSAs).
Definition of "Plan Year" as the operational year for benefit updates
This definition ties "Plan Year" to adjustments in benefits.
"Plan Year" refers to the 12-month period during which any updates or changes to employee benefits plans are made, including rate changes, coverage updates, and eligibility modifications.
Definition of "Plan Year" as the period during which benefits claims are processed
This definition connects "Plan Year" to the claims process.
"Plan Year" means the 12-month period during which claims for employee benefits, such as insurance claims or reimbursement requests, are submitted, processed, and paid.
Definition of "Plan Year" as the fiscal year for company-sponsored benefits
This definition links "Plan Year" to fiscal year planning.
"Plan Year" refers to the 12-month period beginning on [starting date] and ending on [ending date], corresponding to the company’s fiscal year, during which employee benefits are planned, offered, and administered.
Definition of "Plan Year" as the timeframe for company-wide training programs
This definition ties "Plan Year" to training cycles.
"Plan Year" refers to the 12-month period in which company-wide training programs, including leadership development or technical skills training, are scheduled and evaluated for employee participation.
Definition of "Plan Year" as the annual cycle for reporting employee benefits
This definition connects "Plan Year" to reporting and compliance.
"Plan Year" means the 12-month period used for compiling and reporting the status of employee benefits, ensuring compliance with applicable laws, and preparing annual filings.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.