HomeMy WebLinkAbout1405 ~ ~ k. .
~c~:. 23U PaG: 063
a Participant, but who has ceased to be a Participant for
any reason.
1.19 "Hour of Service" shall mean each hour for which the
Employee is directly or indirectly compensated, or entitled to
compensation, by the Employer for performing duties during the
applicable computation period, including Hours of Service for
back pay awarded or agreed to by the Employer, without regard
to mitigation. If at any time, this definition or any part thereof
conflicts with Regulations under the Act issued by the Department
of Labor, the provisions of those Regulations shall control.
However, all questions of interpretation of this definition which
are not in conflict with Department of Labor Regulations shall
be settled in the Employee's favor.
1.20 "Investment Manager" means any person, firm or corporation
who is a registered investment adviser under the Investment Adviser's
Act of 1940, a bank or any insurance company, and (a) who has
the power to manage, acquire, or dispose of Plan assets, and (b)
who acknowledges in writing his fiduciary responsibility to the
Plan.
1.21 "Late Retirement Date" means the Anniversary Date coincid-
ing with or next following a Participant's actual retirement after
having reached his Normal Retirement Date.
1.22 "Normal Retirement Date" means the first day of the
month coinciding with or next following the Participant's 65th
birthday.
1.23 "Participant" shall mean any Eligible Employee who elects
to participate in the Plan as provided in Section 3.2 and has
not for any reason become ineligible to participate further in
--the Plan.
1.24 "Plan Year" means the Plan's accounting year of 12 months
commencing on May 1 of each year and ending the following April
30th.
E 1.25 "Present Value of Accrued Benefit" means the value of
a Participant's Accrued Benefit as determined in Section 1.1 of
this Article.
1.26 "Retirement Date" means the date as of which a Partici ant
P
retires for reasons other than Total and Permanent Disability,
whether such retirement occurs on a Participant's Normal Retirement
Date, Early Retirement Date, or Late Retirement Date (see Section
S.1) .
1.27 "Retired Participant" means a person who has been a
Participant, but who has become entitled to retirement benefits
under the Plan.
~ 1.28 "Total and Permanent Disability" means a physical or
~ mental condition of a Participant resulting from bodily injury,
~ disease, or mental disorder which renders him incapable of continu-
a ing his usual and customary employment with the Employer. The
disability of a Participant shall be determined by a licensed
physician chosen by the Administrator. The determination-shall
6 - be-applied- uniformly-to- all- Participants. -
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aao~ 315 PaGE 1~~ 43 ~H' 230 Ps~~ _ 063