No. 0279 authorizing/adopting an insurance, retirement plan for employees of the Department of Redevelopment, COSB

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such beneficiary. Such designation may be changed or revoked by written notic filed with the Funding Agent. If th Participant's Beneficiary is not a natural person receiving payments in hi own right, then payment shall be made only in a single sum. If more than one beneficiary of a Participant is concurrently entitled to. recei e annuity payments, or if the monthly annuity payment to any beneficiary would be less than $25.00, or such other amount established from time to time y the Funding Agent, then, at the option of the Funding Agent, the value as determined by the Funding Agent, of such annuity may be paid in a sin le sum. 7.5. Words in the masculine gender shall include the feminine, the singular shall include the plural, and vice versa, unless qualified by the context. Any headings used herein are included for each of reference only, and are not to be construed so as to alter any of the terms hereof. 7.6. The P an shall be construed according to the laws of the District of Columbia and all the provisions of the Plan shall be administed according to such laws; all persons accepting or claiming benefits under the Plan shall be deemed to consent to the provisions of such laws. 7.7. A copy of the Plan and any and all future amendments thereto shall be available for inspection at all reasonable times to all Participants at the office of the Employer. 7.8. The Plan and each and every provision thereof shall be binding on the parti s hereto and their respective heirs, executors, administrators and assig s. 7.9. The Funding Agent may refuse to make payment to anyone who, in its opinion, is incapable of giving a valid receipt for such payment. Unless and until claim shall have been made by a duly appointed guardian or committee of such rerson, the Funding Agent may make such payment to any person, in- stitution or agency then, in the judgment of the Funding Agent, contributing towar or providing for the care and maintenance of such person. ARTICLE VIII AMENDMENT OR TERMINATION 8.1. TheErrployer intends this Plan to be permanent and to continue indefinitely but necessarily reserves the right after obtaining prior written approval of the Department of Housing and Urban Development to terminate it at any time or modify, alter or amend the Plan in any respect, retroactively or otherwise at any time or times. No modification, alterations or amendments shall deprive any Participant of any benefits theretofore accrued under the Plan except to the extent required so that at all times the Plan will qualify pursuant to the applicable sections of the Internal Revenue Code or any successors thereto. 8.2. Upon termination of the Plan, the account or accounts held by the Funding Agent for each Participant shall become fully vested in such Participant and shall be applied to purchase an annuity for such Participant on his Retirement Date. No Participant shall be permitted to elect a single payment with respect to his account or accounts held by the Funding Agent so long as he continues to be a regular employee of the Employer. No amount may revert to the Employer. 8.3. Anythi may at prior ig in the Article VIII to the contrary notwithstanding, the Employer any time change the Funding Agent and transfer any contributions made :o such change, in accordance with Article IV, to such successor Funding -7-