[Ord. 5/18/00; Ord. 6/13/02]
All Employees participating in this Plan prior to the Plan's restatement shall continue to participate, subject to the terms hereof. Each other Employee shall become a Participant under the Plan effective as of the first day of the Plan Year coincident with or next following his Employment Date. Notwithstanding the foregoing, effective for the period from July 1, 1993 through June 30, 1997, an Employee who is a member of the Firefighters Union and is employed by the Town of Little Compton Fire Department is not eligible to participate in the Plan unless he agrees to make Employee Mandatory Contributions as set forth in Section 7.2.
Notwithstanding the foregoing provisions of this Section 3.1, effective July 1, 1997, Employee Mandatory Contributions are no longer required to be made to the Plan by members of the Firefighters Union. Notwithstanding the foregoing, effective for the period from July 1, 1994 through June 30, 2000, an Employee who is a member of the Police Officers Union who was hired on or after July 1, 1994 and is employed by the Town of Little Compton Police Department is not eligible to participate in the Plan unless he agrees to make Employee Mandatory Contributions as set forth in Section 7.2.
[Ord. 6/13/02]
A Participant whose participation ceased because of termination of employment with the Employer will immediately participate upon his reemployment.
[Ord. 6/13/02]
If a Participant shall become ineligible to participate in the Plan because the Participant's job classification is specifically excluded under Section 3.1 or Section 2.3(b)(2), such Participant shall continue to vest in his Accrued Benefit under the Plan for each Year of Service completed while an ineligible Employee until such time as his benefit is distributed to him pursuant to the terms of the Plan. If a Participant becomes ineligible during a Plan Year, such Participant shall accrue a benefit based upon the Participant's Average Compensation as determined as of his termination of eligibility, provided such Participant is credited with a Year of Service in such Plan Year.