Common use of Withdrawal from Plan Clause in Contracts

Withdrawal from Plan. A member who withdraws from the pension plan for any reason, other than retirement, death or disability, may request his accumulated contributions, plus interest, be paid to him after such date of withdrawal; provided, however, his contributions shall not be refunded to him earlier than 90 days after receipt of his application for the same. Interest shall be calculated using the prevailing Federal Reserve discount rate, plus three percent, on the date of request.

Appears in 4 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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