[Amended 1-13-2016 by Ord. No. 1-2016]
Each employee shall be eligible to participate
in the plan after attainment of 18 years of age and completion of
a ninety-day probationary period.
In the event a participant who remains in the
service of the employer ceases to be an employee eligible for participation
hereunder, no further contributions shall be credited with respect
to such participant until the participant again qualifies under such
participation requirements, and no forfeiture of any portion of the
account shall occur unless employment shall terminate.
During any authorized leave of absence, a participant
shall continue to receive credit for years of service for vesting,
but no additional employer contributions shall be credited to such
participant. An employee who fails to return to employment at the
conclusion of an authorized leave of absence shall be deemed to have
terminated employment as of the last day on which services were actually
rendered as an employee, and no credit shall be granted for years
of service for vesting during the period of the leave of absence.
In the event a former participant, who received a distribution of the nonforfeitable account balance pursuant to § 60-105C and Article XX, is again employed as an employee, then said employee shall be treated as a new employee under § 60-72 and for all purposes under the plan, unless such employee repays to the plan the amount previously distributed before the first day of the plan year commencing after the date of re-employment. Such an employee shall receive credit for the prior service for vesting purpose but shall not receive any re-crediting of amounts previously forfeited under § 60-105B.
The employer shall furnish the administrator
with such information as will aid the administrator in the administration
of the plan and pension fund. Such information shall include all pertinent
data on employees for purposes of determining their eligibility to
participate in this plan initially and subsequently.
