ARTICLE  XXI  –  RETIREMENT PLAN – 401(k) PROGRAM

SECTION  1.  PARTICIPATION

Local 7048 shall participate in the APWU Nationally Sponsored 401(k) Retirement Plan. All employees (those who receive salaries or LWOP) shall be eligible.

SECTION  2.  MATCHING CONTRIBUTIONS

Local 7048 will make a matching contribution for each Participant’s Elective Deferral Contributions during each pay period up to:

FERS EMPLOYEES: Dollar for dollar up to a maximum 5% of the Participant’s lost USPS wages (code 84) each pay period.