§ 54-157. Forfeitures and dividends.

Latest version.

Forfeitures shall not be used to increase the benefits that any participant would otherwise receive under the plan at any time prior to the termination of the plan or the complete discontinuance of contributions to the plan but shall be anticipated in determining the costs under the plan. Likewise, any dividends under any contract issued in accordance with section 54-156 shall not be used to increase the benefits that any participant would otherwise receive under the plan but shall be anticipated in determining the costs under the plan.

(Ord. No. 2003-27, § 1, 7-15-03)

                    
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