HomeMy WebLinkAbout2464 Longer l. Installments payable over a period in ex-
than life cess of his life expectancy or, if his
spouse is living, their joint life ex-
pectancies, determined at the time the
benefits commence; or
Corpus 2. To set aside all or any portion of the
earnings value of the benefit otherwise payable to
only him during his lifetime to be held by the
Trustee during his lifetime, with only
earnings on such principal amount payable
~ to the Participant during his lifetime, _
with the principal amount paid to his
Beneficiary after his death.
Payments Any benefits payable pursuant to Sub-Paragraphs
~ don't have "(a)" and "(b)" of this Paragraph 9.02, may be paid
to be money directly from the Trust Fund in cash, securities or
such other property as the Trustees may direct.
Segregation In all cases where it has been determined that the
~ of individual distribution of benefits to a Participant is to be
t account deferred, whether in whole or in part, pursuant to
; Paragraph 9.01 and/or Paragraph 9.02, the Trustees
: shall segregate the Participant's Account and there-
~ after such Account shall be valued in accordance with
¢ provisions of Paragraph 5.02 of ARTICLE V.
~
~ After all 9.03 After all benefits have been paid in full to the
~ payments Participant or to his designated Beneficiary,
~ made, end all liability to the Participant or to his -
~ of Liability Beneficiary shall cease.
~
~
~
~ Forfeiture 9.04 If any benefits hereunder have been payable and
~ of benefits unclaimed for four (4) years since the whereabouts
~ by persons or continued existence of the person entitled
~ whose where- thereto was last known to the Trustees, provided ~
~ abouts are the Trustees shall attempt to communicate with
~ unknown. such person at least once in each year, by
~ certified mail with a return receipt requested,
~ directed to the person's last known address,
3 such benefit shall be forfeited by such person
~
= and re-allocated as provided in ARTICLE V. The
(14)
~
`
'.4
~ : ~ CA(;E
r • ~ i ~ i ~
- ~
,::_r
_ . ' -=:t
:
~ ~
r ` ~ ,4
~ ' _ _ , . . . . ~ . . i +