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     Home → Pension → SPD → 14.1 Future of the Plan


14.1 Future of the Plan

It is the intent of the Trustees to continue this Pension Plan in full force and effect. However, the Trustees reserve the right in their sole discretion to construe, amend or modify the Plan in any way. The Trustees further reserve the right to discontinue the Plan or any part of the Plan in order to safeguard against any unfore-seen contingencies. In the event of complete discontinuance of the Plan or the termination or partial termination of the Plan, the rights of each affected Participant to benefits accrued to the date of such termination or discontinuance, to the extent funded, are nonforfeitable and the assets then held will be allocated, for purposes of determining the extent to which benefits accrued are funded, to Participants and Beneficiaries in the order specified in ERISA ß 4044(a) (substituting “partial termination” for termination and “multi employer” for single-employer), except to the extent ERISA requires otherwise.



 

 
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