Active employees hired before September 30, 1991, did not convert to the Asset Accumulation Program are participants in the Closed Defined Benefit Plan (Closed DB Plan). Each member must contribute to the plan an amount equal to 5% of annual earnings.
This summary highlights the provisions of the Closed DB Plan which are written in a Plan and Trust Agreements. It is not meant to interpret, extend or change the Plan in any way. Accordingly, the actual and complete provisions of the Plans can only be determined accurately by consulting the Plan and Trust Agreements. In the event of any discrepancy between this summary and the actual provisions of the Plan, the Plan shall govern.
Documents related to the to Closed DB Plan can be found on this site.
There may have been changes to the Plan document since the SPD was written; those changes have been incorporated into the Plan document.