The accrued benefit at any given date of a participant stated as a monthly amount
in the form of single life annuity for the life of the participant commencing at normal
retirement date, shall be equal to two percent of the participant's final average
monthly earnings, multiplied by the number of his years of creditable service. The
accrued benefit of an individual who has not elected to participate or is not required
to participate in the plan as effective September 1, 1991, shall be determined pursuant
to the prior plan, if any, in which he is a participant as set forth in the applicable
supplement to the plan.
(91-RC-669, § 3.1, 12-18-91)
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