Regular Retirement Plan

An eligible participant will qualify for the regular retirement plan on the first of the month following the completion of a 24 month period which constitutes two years of service. The participant must be credited with 1000 hours or more of service during any 12 consecutive calendar month period to retain eligibility. Contributions of 9% of salary within $16,500 and 12% of salary above $16,500 earned during the calendar year are made to regular retirement contracts with the employee having the option to contribute 3% of salary on a tax deferred basis.