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Home My WebLink About0316 r ~ ~"~r ~ IV:2 No employee wh~~, on the date ~f his empl<~yni:nt, was within 5 years of his Normal Retirement Date as de- termined under the provisio~s oE this Plan and Trust, . shall be eligible to become a Participant under this Plan and Trust. IV:3 The application Eor participation by an employee shall be voluntary. Any employee who, when first ~eligible, does not apply for participation within the - time stated, may apply ~or participation not later ~ than thirty (30) days prior to any succeeding anni- . versary date of the Plan and Trust, and, upon meeting the other requirements for participation, his parti- cipation and accruai of bene~its shall commence as of the next anniversary date after the application is made. For p~rposas of vesting, such Employee's Years . ; of Service with the Employer shall be caunted as Years of~Credited Service in accordance with Section XI:4 of this Plan a~d Trust. Such employee~shali have the sam~ Normal Retirement Oate ~s woul~ have been Ehe caGe iE he had applied for participation when first eligible. The benefits fo~ any such Par- ticipant applying for~participation as oE any anni- versary date after the anniversary_date when first f eligible shall be the benefits as determined by Article i V~entitled 'Retirement Benefits', multipled by the - ratio of the number of completed ~onths he will be under the Pl~n and Trust if he lived and continues in . the employment of the Employer until his Normal Re- tiren~ent Date to the number of completed ~~nonths he would have been undPr the Plan and Trust had he be- come a Pa~ticipant when first eligible. The Participation in this Plan and Trust ~f an er.i- ployee shall continue during the continuation of the Plan and Trust for the period of time such employee completes the req~irement ~oc a Year of Service set forth in Item (w) in Section II:1 of Article II - Oefinitions of Terms. ARTICLE V RETIREMENT DENEFITS V:1 The amount of retirement income of the normal form to ? which each Participant shall be entitled commencing ~ at Normal Retirement Date shall-be determined in ' ac~ordance with the Retirement Income Formula set ; forth in Section V:3 of this Article on the basis of ~ such Participant's "final average monthly earnings" ~ ( as defined herein. ~ t ~ . ~ GR - ~ D13014 a~ f~ a -22- 3 . ~ ~ Y ~f`Y,~ . e~, ~.,i~~a~' _ ~ ' ' i~_ . _ ~a?~+~ _r - ~ "v' p ~u~..~`~-~£' • ~ • ""reo'~ d ~ ~ _ :