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the employer withdrew from the Prime Plan. If an employee
severed employment without a vested DWB, the cash surrender value
of his or her life insurance policy, if surrendered, was added to
another policy in the Employee Group.
4. Obligations and Liabilities
An employer that participated in the Prime Plan was required
to make an actuarially determined contribution in any year in
which one of its employees became eligible for a DWB or the
employer elected to increase the amount payable to its Covered
Employees under the Adoption Agreement. An employer had no
obligation to make additional contributions to provide for the
payment of DWB's if there were insufficient assets in the Trust
allocable to its Employee Group. An employee's right to a DWB
extended only to his or her allocable share of Employee Group
assets. If there were insufficient assets allocable to an
Employee Group to pay a Covered Employee's DWB, procedures were
set forth to pay a smaller benefit commensurate with the
available assets.
The employer relinquished all rights to the contributions
made to the Trust, and no amounts could revert to the employer or
be used for purposes other than the benefit of the Covered
Employees or for the payment of taxes and expenses of the Trust's
administration. Neither the employer, Plan Administrator, Prime,
or the trustee had any liability to pay any benefits provided
under the Plan beyond the assets in the Trust allocable to the
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