HomeMy WebLinkAbout2225 8. Determining Portion o! Auxiliary F~nd
Attr uta e to Con racts.
Except as specifically provided for herein, the
a:ixiliary fund shall be invested, reinvested, accounted for
• and generally dealt with as a unit without allocatinq or main-
taining sharea therein for particular participants. When it
is necessary to determine a participant's intereet in the aux-
iliary fund for a particular purpose, such as upon ~cetirement
for disability or termination of employment before normal re-
tirement date, and when the determination to t~e made calla
for a determination of the shate of the auxiliary fund attrib-
utable to any contract held by trustee for such participant,
such determination shall be made based on the assumption that
the additional amount which would in the normal courae of
events have been payable to the insurer at the participant's
normal retixement date has been accumulated and would have ~
;
continued to be accumulated through a series of equal annual ;
deposits to the auxiliary fund beqinning with the original
premium payment date of any contract held for the participant
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! and continuing annually throuqh and including the last ~remium "
~:aynent schedulesi to occur prior to the participant's normal _
retire~aent date. TY?e portion of the auxiliary fund attrik:st- ~
able to any particular contract shall be the actuarial reserve
thus assumed to :~ave been established, aa of the most recent
anniversary date prior to the event requirinq the determination,
for the purpose of fundinq the additional payr.tent which in the
normal course of events would have been payable to the insurer
at normal retirement date to obtain an annuity contract pro-
~ viding for payment of the participant's monthly retirement bene-
~
fit. Any such determination shall be made by the trustee but
the trustee in :naking such determination shall be entitled to
rely on information frora an insurer as to the amount of any
such actuarial reserve.
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