HomeMy WebLinkAbout1918 2.13 "Coinpensation" shall meaa the monthly equivalent of ~
.
the basic rate of compensation paid to an Employee on an Sntry
Date, excluding overtime pay~ bonuses and other extra compensation.
"Annual Compensation" shall mean Coanpensation.multiplied by twelve.
2.14 "Retired Participant" shall mean s person who has
been a Participant and who has cammeaced to receive retirement
benefits.
ARTICLS III
ELIGIBILITY A1~ID PARTICIPATION
3.01 Each i~mployee ahall be eligible to beeome a partici• °
. ;
paat on the first Entry Date which occurs on or after his attain-
ment of age 25 and his campletion of 2_full years of continuous
employment, provided, however, that he has not exceeded age 65 on
the Bntrq Date upon which he would othexwise have beco~e eligible
for participation.
~ 3.02 Each F.~mployee shall be notified by his F~rployer, or
by the Trustees, of the existence of the plan and of its provisions.
In addition each E~p~oyee becoming eligible following the effective
?
date of the T~rust shall be advised not later than twenty days prior
to his initially becoming eligible to participate as of the next ?
~
Entry Date. ~
3.03 To became a Participant, an eligible Employee must
esecute such application forms as are required. He must perform
all acts r uired of him within 90 da s of the date on which he ~
eQ Y
~ was notified of his eligibilitq. If he fails to perform within the ~
~
required time, he shall forfeit his right ever to become a Partici~ '
pant.
3.44 In the event of the termination of employment of a '
. Participant aad his subsequent rehiring he shall be considered as
a new Employee and be required to meet the eligibility provisions
of this Article III. T'he benefits to be provided for him under
•5-
~26? ~1918 ~
,:=wa° ~ r;~.~-
~,.s,~`~"~~~~`t~ .'rgr,~'~-~~~.- -
~