An embodiment of this invention pertains to a network processor that processes incoming information element segments at very high data rates due, in part, to the fact that the processor is deterministic (i.e., the time to complete a process is known) and that it employs a pipelined "multiple instruction single date" ("MISD") architecture. This MISD architecture is triggered by the arrival of the incoming information element segment. Each process is provided dedicated registers thus eliminating context switches. The pipeline, the instructions fetched, and the incoming information element segment are very long in length. The network processor includes a MISD processor that performs policy control functions such as network traffic policing, buffer allocation and management, protocol modification, timer rollover recovery, an aging mechanism to discard idle flows, and segmentation and reassembly of incoming information elements.