HomeMy WebLinkAbout1930 excess of those necessary to produce a pension of $1,500 per year '
shall be limited to the greater of :
~a) $20,000 or
(b) 20~ of the Participant' ~ annual compeusation up to
$50,000 multiplied bq the number of yeara since the
est$blislmaent of this Trust.
In the event that the Trust is teYminated within ten years of its
effective date, anq amounts becoming payable to Participants in
i
excess of these limitations ~shall be apportioned ratably among . ~
remaining Participants.
As long as this Trust remains in full effect and its full
current costs have been met, the provisions of this Section 12.07
shall not restrict the payment of insurance, death, or survivors
benefits on behalf of a deceased Participant nor shall it restrict
the payment as due of a supplementary retirement incame benefit
which may be necessary to provide the difference between the pension
purchasable vader the limitations set fo=th above and the full
pension to which a retired Participant is entitled under the terms
of the Trus t.
ARTICLE RIII
- INVES~NT FUI~ID
13.01 The_Trustees shall establish a fund kaown as the
Investment Fund for the purpose of purchasing the single premium
;
annuities providing the benefits in order that retiring Participants
may receive the required pension. T'his Fund shall be separate fram
the General Fvad described in Article IX.
13.02 The Trustees may hold all funds in t~iie Investment
Fuad in a Special Trust Fund. The Trustees are authorized and ;
a
~
empawered with respect to such fuads: ~
(a) To invest aad reinvest in such bonds, stock (of any
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