HomeMy WebLinkAbout2461 ARTICLE VII
BENEFITS PAYABLE UPON DEATH
Full 7.01 Upon the death of an Active Participant prior
account to actual retirement, or a Vested or Retired
payable on Participant prior to the complete distribution
death of any benefit, his Beneficiary shall be en-'
titled to one hundred (100~) per cent of such
Deceased Participant's Ac~ount.
Payout 7.02 Any benefit payable under this Article shall be
of paid in accordance with and subject to the
Benefits provisions of ARTICLE IX after receipt by the
Trustees of due notice of the death of the
Participant.
ARTICLE VIII
! BENEFITS PAYABLE UPON TERMINATION OF EMPLOYMENT
!
i
~ Vesting 8.01 If an Active Participant's employment is
' Schedule terminated prior to his qualifying for benefits
~
~ pursuant to-the provisions of the Plan, he
~ shall become a Vested Participant and shall be
~ vested in a portion of his Account determined
~ in accordance with the following schedule:
`k,
~ FULL YEARS OF PERCENTAGE O~'
~ PARTICIPATION ACCOUNT VESTED
~ 1 i0$
~ ~ 2 20$
~ 3 30$
~ 4 40$
5 50$
~ 6 60$
7 70$ ~
8 80$
~
~ 9 90~
~ 10 ~100$
(11)
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