HomeMy WebLinkAbout2459 Effect of (b) A Participant shall not share in such
terminating allocation for Plan Year during which he
employment terminated his employment for reasons other
than retirement or death.
Zntegrated 5.02 The Employer contribution shall be allocated
Formula as follows:
(a) An amount equal to seven (7$) per cent of
the Compensation in excess of nine ($9,000)
dollars shall be allocated among those Par-
ticipants whose Compensation exceeds nine
thousand ($9,000) dollars, in the ratio
which the Compensation in excess of nine
thousand ($9,000) dollars of each Parti-
cipant for the Plan Year within which or
at the end of which such date occurs bears
to the Compensation in excess of nine
thousand ($9,000) dollars of all such Par-
ticipants for such Plan Year.
; (b) An amount equal to the difference between
j the contribution made by each Employer
~ pursuant to the provisions of ARTICLE IV
hereof, and the amount described in sub-
~ division (a) above shall be allocated in
~ the ratio which the Compensation of each
Participant for the Plan Year within which
~ or at the end of which such date occurs
~ bears to the Compensation of all Partici-
~ pants for such Plan Year.
~
~ Forfeitures 5.03 Forfeitures shall be allocated to the Partici-
pant's Account in the same proportions that
each Participant's Compensation bears to the
~ total Compensation of all Participants.
~ Annual 5.04 Each Participant's account shall be valued annual-
~ Valuation ly as of the Valuation Date based on the fair
~ market value of the assets of the Trust Fund as
c~ of such date.
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