AMENDMENT NO 9.
SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN
(As Restated October 1, 2007)
This Amendment to the Southern California IBEW-NECA Pension Plan as restated October 1, 2007 (“Plan”) executed this 21 st day of April, 2009 is made by the Board of Trustees of the Southern California IBEW-NECA Pension Plan (“Board of Trustees”) with reference to the following facts and circumstances:
- The Board of Trustees wishes to amend the provisions of the Plan for Participants who retire with a Postponed Retirement Benefit under Section 4.6.
- The Board of Trustees has reserved to themselves the ability to amend the Plan from time to time.
NOW THEREFORE, the Plan is amended as follows:
- The second full sentence in Article 4, Section 4.6 is amended to read as follows:
“If all of the preceding conditions are not met, then the Postponed Retirement Date shall be the greater of (a) and (b):”
- Article 4, Section 4.6 subsection (a) is amended to read as follows:
“(a) the greater of:
- The Normal Retirement Benefit as of his Normal Retirement Date, increased 0.8% per month for each month that his Postponed Retirement Date follows his Normal Retirement Date, and
- The benefit determined as of his Postponed Retirement Date which is the Actuarial Equivalent of his Normal Retirement Benefit as of his Normal Retirement Date.”
- All other terms and conditions of the Plan shall remain in full force and effect.
This Amendment shall be effective for the payment of pensions with completed applications received in the Fund office on or after July 1, 2009.
Executed this 21 st day of April, 2009, at Commerce, California.
BOARD OF TRUSTEES
SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN
By: Signature on File
Chairman
By: Signature on File
Secretary
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