HomeMy WebLinkAbout1921 of the Participant. The amouats actuallq paqable on that date
m$y be mare or less than the pension specified in the Policy,
depending upon the option of paqment selected and upon dividend
payments made in addition to guaranteed payments.
6.02 At the Normal Retirement Date the Participant shall
be fully vested in alI values acctmaulated to f~md his benefits
and the Trustees shall take any action necessary so that the
Participant shall receive payment of his benefits uader the Trust,
but onlq if he ahall actually cease to render service to his
~mploqer. A Participant may continue to work beqond his Normal
Retirement Date with the consent of the Employer in which case
no further contributions shall be made for his benefit, and the
Trustees shall take action to postpone paqment of retiremen~ bene-
fits vatil the actual retirement of the Participant.
6.03 If a Participant shall cease to be employed within
• five qears of his Normal Retirement Date, this shall be considered
as an early ret~rement and his pension shall be that monthly life
income which may be provided by a single premium amauity, at his
early retirement date, purchased by the ~ounts allocated and ~
;
accumulated to his account on such early retirement date. __~ayments
may~begin on the early retirement date, the Noimal 8etirement Date
or anp intervening date. The Trustees shall follow the same proce-
dures as if the Participant had retired at his Normal Retirement
Date.
6.04 If payment is made by the Insurer to the Trustees,
they shall make payments of the same amount to the Participant,
sub~ect to the requirements of Section~-~i2:07.
6.05 While payiaents are to be made under anq Policy, it ~
sha.ll remain under the Trust and in the possession of the Trustees,
ualess they decide otherwise, in which case, sub3ect to the
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