Common use of Supplemental Retirement Benefit Plan Clause in Contracts

Supplemental Retirement Benefit Plan. Modifications Effective July 1, 1999 Effective July 1, 1999, the benefit accrual rate in Section 8 above shall be increased from 1% to 1.2% per year for up to twenty-five (25) years of service for an increase in normal benefit from twenty-five percent (25%) to thirty percent (30%). Additional benefit may be earned for years twenty-six (26) through thirty (30) at the increased benefit accrual rate of one percent (1%) per year for a total maximum benefit of thirty-five percent (35%).

Supplemental Retirement Benefit Plan. Modifications Effective July 1, 1999 2003 Effective July 1, 19992003, the benefit accrual rate in Section 8 9 above shall be increased from 1% one and two-tenths percent (1.2%) to 1.2% one and three-tenths percent (1.3%) per year for up to twenty-five (25) years of service for an increase in normal benefit from twenty-five percent (25%) to thirty percent (30%). Additional benefit may be earned for years twenty-six (26) through thirty (30) at the increased benefit accrual rate of one percent (1%) per year for a total maximum benefit of thirty-five percent (35%).five