§ 5.18.200. Lost Participants.  


Latest version.
  • If the Participant or his or her Beneficiary cannot be located within four years of the date the Participant's interest under the Plan is first payable, the entire balance in his Account shall be forfeited; provided, however, that the amount so forfeited shall be reinstated as of the date of the subsequent filing of an application for benefits under the Plan. Amounts restored to lost Participant's Account in accordance with this Section shall be restored out of forfeitures as provided in Section 5.18.210. The restoration of a lost Participant's Account balance will not be treated as an Annual Addition. Payment of the restored amount shall be paid in a lump-sum benefit no later than 60 days after the lost Participant's application is approved by the Administrative Committee.

(Ord. 2004-0063 § 1 (part), 2004.)