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Pension Plan Document PDF (258 KB)
Amendments: II  III  IV  V VI VII VIII IX X XI XII XIII XIV XV XVI XVII XVIII XIX XX XXI


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Article IV, Section 20


Section 20. Erroneous Payments. This Section applies to any recipient (including a Participant, spouse, Beneficiary or any other person) of a payment to which he is not entitled under the terms of the Plan, either because of failure to retire as described in Section 6, an error in computing the benefits payable hereunder, or any other reason. As determined by the Directors, or its delegate, any such mistaken payment shall be recaptured by (1) prompt repayment by the recipient (or his estate or beneficiary) of the erroneous payments or (2) reduction in the amount of future payments from the Plan to the recipient (or a spouse or beneficiary of such recipient). To the extent determined in the discretion of the Directors, or its delegate, and consistent with the applicable law, any reduction in future payments and/or repayments shall include an interest factor reflecting the delay in repayment and any reduction in future payments shall be made in the form of an actuarial reduction to future payments.

Note: The HTML formatting of this document varies slightly from the printed version. Please refer to the Adobe PDF for an electronic version which is identical to the actual document without signatures. The actual signed documents are on file with the Administrative Office.

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