HomeMy WebLinkAbout2227 the participanta described in the first paragraph of thie section
become payable within ten years after the establishment of this
plan or (3) the beneFits of any of the participante des-
cribed in the firat paragraph of this section become payable
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after this plan has been~in effect for ten yeare and, at the
time such benefite become payable, the full curre~t costs for
the first ten years have not been met, the benefits Which any
of the participants described in the first paragraph of this
section may receive from the employer's aontributions shall not
exceed the benefits set forth in paraqraph (2) of this section.
This limitation shall cease to bs effective at such time, at or
after the expiration of ten years from the date of the establish-
ment of this plan, ~s the full current costs of the plan have
first been met.
(c) If a participant described in the first paragraph
of this sectio~ leaves the employ of the employer or Withdraws
from participation in this plan, the benefits which ~e may re-
ceive from the company's contributions shall not at any time,
i
~ within the first ten years after the date of the establishment
I
of this plan, ex•ceed the benefita set forth in (a) herein. If,
at the en3 of ten years, after the date of the eatablishment of
this p1an, the full current costa of the first ten years have
not been met, the benefits such participant may receive from the
company's contributions shall not exceed the benef its set forth
in (a) herein until the first time that the full current costs of
this plan have been met.
(d) These conditions shall not restrict the full pay-
ment of any in$urance, death or survivor's benefits on behalf
of a participant who dies while thia plan is in full effect and
its full current costs have been met.
(e~ These conditions shall not restrict the current
payment of full retirement benefits calle-3 for by this plan for
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