Unvested Member. With respect to an Electing DB member who has less than eight (8) years of credited service under the Retirement System as of his freeze date, such Electing DB member shall forfeit all past, present and future rights to (including any right to become vested in) any benefit or accruals from the Retirement System and shall not thereafter resume membership under the Retirement System under any circumstances. Such an Electing DB member’s prior accumulated contributions plus interest thereon made under the Retirement System automatically shall be transferred from the Retirement System to the DC Plan through a direct plan-to-plan transfer. An Electing DB member shall become a participant under the Employer’s DC Plan and shall make mandatory contributions in the amounts set forth under the DC Plan.
Appears in 17 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
