HomeMy WebLinkAbout0309 ~
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(1 ) The a~~ounts ~aid to the insurer as premiuns
o~ any lite insurance contract or contracts on
the lives of Participants under the Plan and
Trust, (2) any amount paid to purchase annuities,
(3) any other disbursements made by the Trustee
' in accordance with the terr~s of this Aqceement. -
The valuation of such trust assets shall be de-
termined annually~, based on f~ir marker_ value.
(n) "Masculine Pronouns": The masculine pronouns
used herein refer to both men and women unless
the context indicates otherwise, and the singular
form shall likewise be use~ to refer to both
singular anc~ plural pronouns. •
(o) "Insurable": The word 'Insurable' shall apply to
~ a Participant classiEied by the Insurer to which
an apQlication foc insurance contract is nade as
a standard risk or in a mortality class a~ceptable
to the Trustee.
(p) "Uninsur ~ble" : The worcl '~n insurable' shal l
apply ro a Yarticipant classified by tlie Insurer ~
C to which application for insurance contract is ~
made as uninsurahlP or in a mortality ctass which f
is not acceptable to the Trustee. ~
(q) "Age": The aye of -an employee on his E~irthday
last p~ecedinq the date a~ of which determination
of his age .is heing inade.
(r) "Retirement Annuities Accrued to Date": The
amount of retirement annuity accrued as of a~y
given date with respect to a Participant shall, be
equal to his prospPCtivA retirement annuity under
the Plan at Normat Retirement Date as determined
by Article V entitled 'Retirement Bznefits',
mul-ti~lie~ by the ratio that his total number of
completed months oE participation under the Plan ;
and the Trust as of such given date bears to the
total number of months of participation under the ~
Plan and the Trust he will have completed if he ~
lives and remains in the employment o£ the EmQloyer ~
to his Normal Retirement Date.
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