Membership

Eligibility 

Every employee, as defined previously, shall become a Member of the Plan.

1. Persons not eligible for membership are:

2. Persons working solely on a non-employee contractual basis, and  Persons rendering voluntary service only.

In addition, the following provisions apply;

1. Participation for eligible employees is mandatory.

2. No Member shall be permitted to withdraw from the Plan, except by retirement, disability, death or termination of employment.

3. There is no minimum or maximum age limitation, nor is there any waiting period.

4. No employee contributions are required or permitted.

Designation of Beneficiary

Beneficiary means the person(s) entitled to receive any benefits hereunder at the death of a Member and who has been designated in writing by the Member and filed with the Plan Administrator. If no such designation is in effect at the time of the Member’s death, or if no person so designated is living at the time, the Board shall have authority to designate as beneficiary(s) the heirs at law.

A Member should promptly designate and maintain on an up-to-date basis a Beneficiary designation for any death or survivor’s benefits under the Plan. A signed copy of all completed forms must be filed with the Plan Administrator.

The Plan Costs You Nothing 

Your Employer pays the entire cost of the Plan for you - there are no deductions from your pay. An actuary calculates the Employer contributions to the Plan to keep it funded on a sound basis. 

Your Employer’s contributions are paid directly into a trust fund to be used exclusively for the benefit of Plan participants and their beneficiaries.

HOME