Vesting in CRP

Participants Hired Before July 1, 2005

You are always 100% vested in your retirement savings account, meaning you have a right to receive both your contributions (including any rollover contributions) and the University’s contributions, adjusted for investment gains and losses, when you terminate employment with the University.

Participants Hired After June 30, 2005

You are always 100% vested in your own contributions (including any rollover contributions), adjusted for investment gains and losses. You will become 100% vested in the University’s contributions to your retirement savings account upon your:

Attainment of age 65 while employed by the University,

Death while employed by the University, or

Completion of three (3) Years of Service.

While this Summary Plan Description summarizes the major provisions of this plan, it does not provide you with every plan detail. The plan documents, which govern this plan, provide full details. If there are any discrepancies between this Summary Plan Description and the legal plan documents, the legal plan documents control.