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4.03 Any dividend payable shall be used to increase the j
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proceeds of the policy.
ARTICLB V
RETIRK[~NT AI~ DBATfi BBNSFITS i
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5.01 Each Participant shall be entitled to receive a
monthly pension camaencing at his Normal Retirement Date and
guaranteed. for ten years certain and life thereafter of an amount
equal to thirty (30%~ per cent of his Compensation at his initial
Entry Date in excess of Forty-eight Hundred Dollars ($4,800.00)
annually. No such monthly pension shall be less than $20.00.
5.02 If on any amaiversary of his Entry Date, a Participant
shall be receiving Compensation which has been increased or decreased
in such amovat as would produce a difference of $10 or more in the
monthly pension camputed in accordance with the formula in Section
S.O1, the Trustees shall take such steps as may be necesssry to
ad3ust the pension. However, no change shall be made if a Partici~
pant is within five years of the Normal Retirement Date or to an
extent which would violate the minimum benefit provisions of ~
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Section 5.01. ~
5.03 Upon the death of a Participant, the Trustees shall ~
wi.thdraw from the Trust Fuads the amouat allocated to his account
and shall pay this amount in a single sum to the beneficiary named
by the Participant. - ~
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ARTICLE VI ~
xRTIRE[~IT
6.01 A Participant shall have the right at any time,prior
to his Normal Retirement Date to direct the Trustees regarding the
provisions to be effective for his benefit on the retirement date,
except that without their consent no election may be made which ~
would provide a lum~p sum payment or payme~nts for less than the life
3.
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