[Ord. No. 287,
passed 8-10-1995]
An employee included as a member under the prior provisions
of the plan, as of the effective date of the restated plan, shall
continue to participate in accordance with the provisions of this
plan.
[Ord. No. 287,
passed 8-10-1995]
Commencing on the effective date of the restated plan, each full-time employee shall become eligible to become a member of the plan on the later of either his or her date of hire or the date the restated plan is adopted by Council in accordance with Section 288.09.
[Ord. No. 287,
passed 8-10-1995]
In order to maintain membership in the plan, each employee shall,
in writing, designate a beneficiary or beneficiaries to whom payments
shall be made in the event of such employee's death while an
employee of the Township and while a member of the plan, and stipulate
and agree that he or she shall be bound by the provisions of the law
pertaining to the plan and of this chapter and of any future statute
or ordinance pertaining thereto.
[Ord. No. 287,
passed 8-10-1995]
Upon satisfaction of the requirements set forth in Sections 288.06 and 288.07, the member shall be required to contribute to the plan at a rate not to exceed three and 1/2% of the member's compensation. The contribution rate in effect for the prior plan year shall continue from year to year unless Council changes the rate by resolution.
[1]
Editor's Note: Former Section 288.10, Submission of list
to Trustee; information statement for new members, was repealed 8-10-1995
by Ord. No. 287.
