[Amended 6-21-2022 by Ord. No. 557]
Each participant who is such on the restatement
date shall continue to participate in the plan. Each other employee
shall become a participant on the entry date, which is the first day
of the month following commencement of employment with the employer.
Notwithstanding the foregoing or any other provision of the plan,
all employees hired or rehired or with an entry date on or after June
21, 2022, shall be eligible to participate only in the defined contribution
portion of this plan, which is or will be as set forth in Appendix
A hereto;[1] any employee hired or rehired or with an entry date on
or after June 21, 2022, will not be eligible to participate in or
accrue any benefits under any other section of the plan.
[1]
Editor's Note: Said Appendix A is on file in the Borough offices.
If the employment of an employee is terminated for any reason and he/she is subsequently rehired, he/she shall become eligible to be a participant in accordance with the provisions of § 23-23. For this purpose, years of service prior to the employee's reemployment commencement date shall be counted.
The employer shall furnish the plan administrator
with such information as will aid the plan administrator in the administration
of the plan. Such information shall include all pertinent data on
employees for purposes of determining their eligibility to participate
in this plan initially and subsequently.
