Agenda - Council - 06/09/1992 - Laserfiche WebLink

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Xe VESTING PROVISIONS The Employer hereby specifies the following vesting schedule, subject to (I) the minimum vesting requirements as noted and (2) the concurrence of the Plan Administrator. Years of Spec/fled Minimum Service Percent Vesting Completed Vesting Requirements" Zero 100 % No minimum One 100 % No minimum Two 100 % No minimum Three 100 % Not less than 20 % Four 100 % Not less than 40 % Five !00 % Not less than 60% Six 100 % Not less than 80 % Seven or More I00 % Must equal 100% ('~Vnese minimum vesting requirements conform to the Code's three- to seven-year vesting schedule. If the employee becomes 100% vested by the completion of five years of service, there is no minimum for years three and four.) INVESTMENT OPTION A Participant may direct his/her investment only to or into an investment option that provides a guarantee of principal. [] A Participant may direct his/her investment of not more than % in an investment option which does not provide any guarantee of principal. A Participant may direct his/her investment, without restriction, among various investment options available under the Trust. [] Specify any other investment restrictions: I I I I I I I I I I I' BENEFITS UPON SEPARATION 1. Upon separation from service for reason other than death, disability, or attainment of Normal Retirement Age, the Participant may elect to commence receiving benefits from the following accounts, without regard to age: a) b) c) Employer Contribution Account (nonforfeitable Interest) [] yes [] No Participant Contribution Account (if applicable) [] yes [] No Participant Portable Benefits Account [] yes [] No 001-91F I I I I I I