Each employee who is employed as a regular, full-time employee
of the employer shall participate herein as of the first day of employment,
provided that all prerequisites to participation under this plan shall
have been fulfilled, including but not limited to completion of all
forms required by the plan administrator.
The Board shall furnish the plan administrator with written
notification of the appointment of any new full-time permanent employee
who is eligible for participation hereunder within 60 days of the
date of such appointment.
Any new, full-time employee who becomes a participant hereunder shall provide a written notice which designates the beneficiary or beneficiaries to the Board at the time participation commences. (The beneficiary shall receive a refund of accumulated contributions if such refund is payable pursuant to §
47-33.) The participant's election of any such beneficiary or beneficiaries may be rescinded or changed, without the consent of the beneficiary or beneficiaries, at any time, provided that the participant provides the written notice of the changed designation to the plan administrator in the manner prescribed by the plan administrator. Any designation of a beneficiary made in any manner other than one acceptable to the plan administrator shall be null and void and have no effect under the terms of this plan.