HomeMy WebLinkAbout2215 former partic3pant.
"Compenaation" shall menn the baaic compensation received
by a participant froa the employer in the form of salary,
Wages, and comzniegions, but shall exclude bonuseg, overtime
pay, reimburseinent9 and other non-securing compenaation.
t3onthly compensation shall ~ean one-twelfth (1/12) of the
annusl compensation.
"Continuous Employntient" sha21 mean employment by the
employer uninterrupted except for illnesa, military servica,
vacation or leave of ab~ence authorized by the employer on a
. non~discriminatory basis~.
"Contract" ahall mean any lite insurance or annuity
contract issued by an insurance company and purchased per-
suant to the plan.
"Disability" shall mean the inability of a participant
because of physiaal or mental fnfirnity, determined as pro-
vided for in the plan to be permanent, to perform either hie
customary duties for the e.~ployer or other gainful wrork for which,
~ except for auch infirmity, he would be auited by experience, ed- .
{
ucation or traininq.
4 "F~raployee" shall mean any person employed by th~ employer
~ on a full tiine baais but ahall not include any such person
whose customary employment is for not more thsn twenty houre per
week or for »ot more than five monthe per year.
"Fiscal Year" shall mean the employer'e fiscal yt~ar ~•hich
is the twelve-month perio3 ending Qach June 30th.
"rlormal Retirement Date" shall mean the anniversary of
~ the plan nearest the 65th birthday of an employee who had not
~
~ yet attained aqe 55 r~rhen he firet became a participant, or,
~ in the case of an e~loyee who had attained age 5~ when he
first became a participant, or, in the case of an employee who
~
~
$e"~ 204 ~.~2~~.4
CROIICD d WARD. .1T1'ORHE26 AT LAW, BAY.iJIfD~I.~. ~LO~ID~
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