 |
||
|
|
Preamble The Diocese of Palm Beach Pension Plan was established July 1, 1985, to benefit its employees when their working years are over. In 1989, the Diocese of Palm Beach Pension Plan was split into two plans - this Pension Plan for Priests within the Diocese of Palm Beach and the Pension Plan for Lay Employees and Sisters and Brothers of the Diocese of Palm Beach. The purpose of the Plan is to provide you with additional retirement income, supplementing other sources usually and customarily available, such as Social Security. This will become clear to you as you continue reading this Summary, which describes all the facts you need to know about the Plan - including when you qualify for benefits and how much you can expect to receive. Plan funds are administered for the exclusive benefit of participants by the Board of Trustees under the direction of the Bishop of the Diocese of Palm Beach. By law, these funds may not be directed to any other use by anyone, including the Bishop of the Diocese of Palm Beach. Furthermore, benefits may be distributed only in accordance with the provisions of the Plan Document approved by the Internal Revenue Service as administered by the Board of Trustees. Since this booklet is a summary of the actual Plan provisions pertaining to Priests, it may be necessary to refer to the Plan documents for the answers to certain questions. In case there is any conflict between this summary and the actual Plan, the provisions of the Plan will govern. Copies of the actual Plan document are available from the Plan Administrator for a nominal charge to cover printing and mailing costs. You should keep this summary where you can conveniently refer to it. And above all, if you have any questions about your Pension Plan, ask the Benefits Office. Note: The provisions in this summary apply to those who are active participants under the Plan on or after July 1, 1999. |
|
Donise Jacques |
||
