Defined Contribution Plan
Plan Termination and Plan Amendment
The Board of Trustees fully intends to maintain the Plan on an indefinite basis. Neither the Contributing Employers, the Union nor the Board of Trustees or any of their officers, agents or employees guarantee, in any manner, that benefits will be paid. All contributions made by your employers will be placed in the Trust and all benefits under the Plan will be paid from the Trust in accordance with the Defined Contribution Plan. Any person having entitlement to benefits under the Defined Contribution Plan must look to the assets of the Trust for satisfaction.
The Board of Trustees intends to continue the Defined Contribution Plan indefinitely, but reserves the right to amend the Plan, to change the method of providing benefits or to terminate the Plan should they determine it should ever be necessary. In any such case, you will be notified of any changes that have been made and the reasons for any decision. Remember however, that no Amendment will be made to the Plan that would deprive you of benefits you have already accrued before such Amendment or change was made. Under the law, no Plan Amendment or change can be made that would divert any part of the Trust’s assets to a purpose other than the exclusive benefit of the Participants and eligible beneficiaries.