HomeMy WebLinkAbout1922 requirements of Section 12.07, they maq deliver it to the retired
Participant with such endorsemeats and restrictions as shall be
necessary to carry out the basic intent of this Trust. ~
ARTICI.B VII
TSRrQNATION OF BI?~PLOYI~NT
7.01 If a Participant sha11 cease to be ~a Employee except
at retirement or death, then sub3ect to Section 12.07 his interest
and rights in fihis Trust shall be limited to those contained in
this article.
7.02 A leave o~ abseace for required military service or as
authorized by the F~nployer in writing shall not be construed as
termination of employment, provided the Emploqee returns to the
service of the Employer on or prior to the expiration date of such
leave or within 90 days of his separatfon fram such military service.
If the Employee does not ieturn to service within this period, he
shall be deemed to have terminated his employment when the leave of
absence became effective. The Trustees shall take appropriate action
to recover for the Trust, any values created by deposits paid while
the F~nployee was on leave, may name theffiselves Beneficiary, and
shall thereafter apply the provisions of Section 7.04 and 7.07.
7.03 In the event of a change in employment status by which
a Participant no longer meets the definition of "~mployee" in Section
2.04, he shall not be considered to have terminated employment but
all P~onployer contributions under this Trust shall cease and the
Trustees shall take such action as may be necessary to hold his
benefits under this Trust in a paid-up status or to transfer such
benefits to anq other similar pension plan of the F~ployer. Upon
res~ing his status as an Emploqee, as defined in Section 2.04, he
shall qualify for participation as of the next Entry Date and his
pension benefit, calculated as of that date, shall be reduced by
any paid-up benefit.
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