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Defined BENEFIT Pension Plan
Plan Document

      

AMENDMENT NO. 12
TO THE RESTATED PLAN DOCUMENT OF THE
SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN

This Amendment to the Southern California IBEW-NECA Pension Plan ("Plan") executed this 26th day of January, 2010, 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:

  1. The Board of Trustees wishes to amend the provisions of the Plan regarding Mandatory Commencement Date.
  2. The Board of Trustees has reserved to themselves the ability to amend the Plan from time to time.

Effective January 1, 2003, Article V, Section 5.5 shall be amended in its entirety as follows:

  1. "Notwithstanding any inconsistent provision of the Plan, all distributions under the Plan shall be made in accordance with Code section 401(a)(9), including the incidental death benefit requirement of Code section 401(a)(9)(G), and Treasury Regulations sections 1.401(a)(9)-1 through 1.401(a)(9)-9. Specifically, distribution of the Participant's interest shall:

    1. be completed no later than the Required Beginning Date; or
    2. commence not later than the Required Beginning Date with distribution to the Participant made over the life of the Participant or joint lives of the Participant and a designated beneficiary or a period not longer than the life expectancy of the Participant or the joint life expectancies of the Participant and a designated beneficiary."

    "For purposes of this Section 5.5, Required Beginning Date shall mean April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ or the calendar year in which the Participant retires; provided, however, if the Participant is a five-percent owner (as defined in Code section 416), the Required Beginning Date shall be April 1 of the calendar year following the calendar year in which the Participant attains age 70½, regardless of the date that the five-percent owner retires."

    "In the case of a Participant who retires in a calendar year after the calendar year in which he attains age 70½ and who has not commenced payments as of the first day of such later calendar year, the Plan benefit accrued by the Participant shall be actuarially increased, to the extent required by regulations, to take into account the period (commencing on the April 1 of the calendar year following the calendar year in which the Participant attains age 70½ and ending on the date payment commences) during which the Participant did not receive benefit payments from the Plan; provided, however, in the event that the benefits accrued during the period of such actuarial increase results in a benefit greater than the actuarially increased benefit, the benefit based on the continued accruals shall be paid."

    "Effective January 1, 1997, at the option of the Participant, distribution of benefits will commence upon the later of April 1 of the calendar year following actual retirement or attainment of age 70½, if the Participant is not a 5% owner of an Employer. If the Participant opts to defer commencement of benefits under this Section until after actual retirement, the Participant shall file an election form with the Administrative Office of the Trust Fund and the Participant will be entitled to an actuarial adjustment in his benefits resulting from the delay in the commencement of benefits. However, in the event the Participant fails to file an election form with the Administrative Office of the Trust Fund and if the Participant is still employed in Covered Employment and is not a five-percent owner, the failure to file such an election form shall be deemed to be an election to defer benefits until April 1 of the calendar year following the Participant's actual retirement."

  2. "In the event that a Participant dies prior to the date that distribution commences:

    1. any portion of the Participant's interest that is not payable to a designated beneficiary shall be distributed not later than the end of the calendar year which includes the fifth anniversary of the date of the Participant's death; and
    2. any portion of the Participant's interest that is payable to a designated beneficiary shall be distributed in accordance with subsection (i) above or over the life of the designated beneficiary (or over a period not extending beyond the life expectancy of the beneficiary), commencing not later than the end of the calendar year following the calendar year of the Participant's death or, if the beneficiary is the Participant's surviving spouse, commencing not later than the last day of the later of the calendar year in which the Participant would have attained age 70½ or the calendar year following the calendar year which includes the date of the Participant's death."

All other terms and conditions of the Plan shall remain in full force and effect.

Executed this 26th day of January, 2010.

Board of Trustees
Southern California IBEW-NECA Pension Trust Fund

By: Signature on File
Chairman

By: Signature on File
Secretary