Common use of Missing person Clause in Contracts

Missing person. If a benefit is required to be paid under this Plan but the Plan Administrator is unable to locate (in accordance with reasonable procedures established for this purpose) the individual to whom payment is to be made, that individual's benefit will be treated as a Forfeiture as of the date determined by the Plan Administrator but no earlier than the last day of the Plan Year that includes the second anniversary of the date that benefit first became payable. However, the amount forfeited will be paid (from Forfeitures or from additional Participating Employer contributions) to the missing individual if he or she files a proper claim for the benefit while this Plan remains in effect. If the Plan Administrator is unable to locate a Participant or any Beneficiary for an Account and this Plan is terminated before the Account becomes a Forfeiture under this ss. 8.7, those persons will be presumed dead upon the Plan's termination and the Account will be applied thereafter to pay administrative expenses of the Plan and Trust Fund.