Defined Contribution Plan Document
AMENDMENT NO. 3
TO THE SOUTHERN CALIFORNIA IBEW-NECA DEFINED CONTRIBUTION PLAN
This Amendment to the Southern California IBEW-NECA Defined Contribution Plan ("Plan") restated January 1, 2014, executed this 28th day of January 2015, by the Board of Trustees of the Southern California IBEW-NECA Pension Trust Fund, is made and entered into with respect to the following facts and circumstances:
- The Board of Trustees wishes to adopt a provision in its Plan to provide for a transfer of assets and liabilities with regard to the Individual Accounts of members of Local 440 and 477 to the Inland Empire NECA-IBEW Pension Trust Fund.
- The Board of Trustees has reserved to itself the ability to amend the Plan from time to time.
NOW THEREFORE, upon motion duly made, seconded and unanimously carried, the Plan is amended as follows:
- The Plan is amended by replacing the Second Paragraph of Article XIV with the following:
"Notwithstanding anything herein to the contrary, at the request of the Southern Sierras Chapter of NECA and IBEW Local 477, as well as the Southern Sierras Chapter of NECA and IBEW Local 440, the Board of Trustees shall enter into a Transfer Agreement with the Board of Trustees of the Inland Empire NECA-IBEW Pension Trust Fund. The Transfer Agreement shall provide for a transfer of the portion of assets of the Southern California IBEW-NECA Defined Contribution Plan consisting solely of the Individual Accounts of all IBEW Local 440 and IBEW Local 477 members and all outstanding loans of IBEW Local 440 and IBEW Local 477 members as of a date to be specified in the Transfer Agreement. The Transfer Agreement shall require that the transfer be accomplished in accordance with the applicable provisions of the Trust Agreement and shall provide that the transfer of assets and liabilities shall comply with all applicable provisions of ERISA and the Internal Revenue Code. The Transfer Agreement shall include such additional terms and conditions as are necessary to effectuate a smooth and lawful transfer of assets and liabilities."
- All other terms and conditions of the Plan shall remain in full force and effect.
Executed this 28th day of January 2015 at Commerce, California.
By: Signature on File
By: Signature on File