AMENDMENT NO. 10
TO THE SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN
This Amendment to the Southern California IBEW-NECA Pension Plan (the “Plan”) executed this 21 st day of April, 2009 is made by the Board of Trustees of the Southern California IBEW-NECA Pension Trust Fund (Board of Trustees) with reference to the following facts and circumstances:
- The Board of Trustees wishes to amend the provisions of the Plan to make the disability benefit nonauxiliary for disability benefits first effective on or after July 1, 2009. A Disabled Participant whose disability benefit is first effective on or after July 1, 2009, under Total and Permanent Disability or unreduced Partial Disability, shall have his monthly benefit reduced by one dollar upon attainment of Normal Retirement Age and payments will continue under the same form of benefit without option for reelection.
- The Board of Trustees has reserved to themselves the ability to amend the Plan from time to time.
Therefore, the Plan is amended as follows:
- Article 3, Section 3.4, will be revised to read:
3.4 Pensioner. A Participant shall become a Pensioner on the effective date of his retirement pursuant to this Article 3. Each Pensioner on June 30, 1976, who was not receiving a Disability Pension, and each such Pensioner who was receiving a Disability Pension and who had attained his Normal Retirement Date, shall continue in this status and shall receive the monthly pension to which he was entitled prior to July 1, 1976. For disability benefits effective on or after July 1, 2009, a Disabled Participant shall become a Pensioner upon commencement of his Disability Benefit pursuant to Article 7.
- Article 7, Section 7.9, the second paragraph will be revised to read:
Once the Election Period has expired, a Disability Pensioner may not change his form of benefit. Once disability benefits have commenced, a Disability Pensioner may not designate a new spouse with respect to such benefits. A Disability Pensioner, who is receiving a benefit pursuant to a disability application made on or after January 1, 2005, with benefit commencement prior to July 1, 2009, and who is receiving Total and Permanent Disability Benefits or unreduced Partial Disability Benefits under the Plan is entitled to make a new election of benefits at Normal Retirement Age, including, but not limited to designation of a new spouse under a Joint and Survivor Pension Form upon attainment of Normal Retirement Age.
- Article 7, Section 7.11, will be revised to read:
7.11 Disabled Pensioners attaining Normal Retirement Age. The amount and form of benefit due to a Disabled Pensioner attaining Normal Retirement Age shall be determined by the following:
- For disability applications received by the Pension Trust Fund on or after January 1, 2005, with benefit commencement prior to July 1, 2009, upon attainment of his Normal Retirement Age, a Disabled Pensioner who is receiving Total and Permanent Disability Benefits or unreduced Partial Disability Benefits under this Plan shall be entitled to make a new election of benefits in accordance with Section 417(f)(2)(B) of the Internal Revenue Code unless such benefits have otherwise ceased under the Plan. A Disabled Pensioner who is receiving reduced Partial Disability benefits under this Plan shall continue to receive benefits in the same amount and same form upon attainment of Normal Retirement Age unless such benefits have otherwise ceased under the Plan.
- For disability benefits commencing on or after July 1, 2009, upon attainment of his Normal Retirement Age, a Disabled Pensioner who is receiving Total and Permanent Disability Benefits or unreduced Partial Disability Benefits under this Plan shall have his monthly benefit reduced by one dollar. Payments will continue under the same form of benefit unless such benefits have otherwise ceased under the Plan. A Disabled Pensioner who is receiving reduced Partial Disability benefits under this Plan shall continue to receive benefits in the same amount and same form upon attainment of Normal Retirement Age unless such benefits have otherwise ceased under the Plan.
- All other terms and conditions of the Plan shall remain in full force and effect.
Executed this 21 st day of April, 2009 at Commerce, California.
Board of Trustees
Southern California IBEW-NECA Pension Trust Fund
By: Signature on File
Chairman
By: Signature on File
Secretary
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