§ 13-27. Eligibility.

(a)

Effective Date of Participation:

(1)

Prior to the Effective Date of Ordinance No. 363. Any employee of the Village shall become a participant in this plan on the October first following the date on which he has met each of the following requirements:

a.

Has customary employment for five (5) months or more per year and for twenty (20) hours or more per week; and

b.

Has completed at least one (1) year of continuous employment with the Village.

(2)

Subsequent to the Effective Date of Ordinance No. 363. Any employee of the Village shall become a participant in this plan on the October first following the date on which he has met each of the following requirements:

a.

Has customary employment for five (5) months or more per year and for twenty (20) hours or more per week; and

b.

Has completed at least one (1) year of continuous employment with the Village.

(b)

Acceptance by employees. Every Person who shall become a regular employee of the Village and who then or thereafter shall be eligible, as a condition of his employment, shall signify his or her acceptance of the Plan and trust and the benefits thereof by filing with the Retirement Board a Written application for participation in the Plan and trust on forms provided by the Retirement Board.

(c)

Action by Retirement Board. The Retirement Board shall notify each employee in Writing of his eligibility, and such employee shall execute an application for participation on the form provided. Such employee shall become a Participant upon acceptance by the Retirement Board of his application to participate. The application form shall include the following:

(1)

Acceptance of the terms and conditions of the Plan and trust;

(2)

Designation of a Beneficiary; and

(3)

Authorization of a payroll deduction of six percent, payable to the Plan.

A Participant may from time to time change his designated Beneficiary by written notice to the Retirement Board on forms provided by the Retirement Board. Upon such change being received by the Retirement Board, the rights of all previously designated Beneficiaries to receive any benefit under the Plan shall cease.

(d)

Election of Village Manager to participate. Upon Written request to and approval by the Village Council, the Village Manager may elect not to participate in the Village Employees' Pension Plan. This election shall be made within 90 days of the initial appointment of the Manager and shall be irrevocable during such Person's employment as Manager. Any benefit rights in such Plan derived by an individual's employment with the Village prior to or subsequent to employment as Village Manager shall not include the accrual of any benefits for services rendered while an election as described in this subsection is in effect.

(Code 1974, § 13-17; Ord. No. 337, § 1(13-4), 9-19-89; Ord. No. 363, § 1, 7-16-91; Ord. No. 447, § 1, 11-16-99)