Future of the Plan. The District reserves the right to terminate or amend the Plan at any time. ARTICLE I ESTABLISHMENT OF THE PLAN 48 ARTICLE II DEFINITIONS 48 ARTICLE III PARTICIPATION 49 3.1 Eligibility 49 3.2 Participation 49
Future of the Plan. In Article
16.1 the words “earlier of (a) the date when the Plan is terminated under Section 16.2 or (b) the 10th anniversary of the date when the Board adopted the Plan” shall be deleted and replaced with the words “date when the US Plan is terminated”.
Future of the Plan. Article 15.1 reference to “IPO date” shall be deleted and replaced with the words “date of the relevant board resolution” and the second sentence shall be deleted.
Future of the Plan. The City expects to continue this Plan and the related trust indefinitely. However, in the event that the City is legally dissolved due to U.S. federal or state statute, court order, or judicial decision, the City may terminate the Plan and related trust if permitted by Colorado law. The City may at any time completely terminate the Plan and related trust upon full funding of the Plan on a Plan termination basis. In the case of Plan termination, the Plan Administration Committee will allocate Plan assets (available to provide benefits after providing for the expenses of terminating the Plan) among the members, terminated members, pensioners, and their beneficiaries in the following order: • An amount equal to the member’s contributions (with applicable interest) to the date of Plan termination or, if earlier, the date of the member’s retirement, less the total amount of retirement benefits paid and received (if any) by the member or their beneficiary • The balance remaining after the allocation described in bullet one above will be allocated for the benefit of each retired member (including their beneficiary) in an amount proportionate to (but not more than) the actuarially equivalent value of the member’s pension at the date of Plan termination, less any amount allocated as described in bullet one • The balance remaining after the allocation described in bullet two above will be allocated for the benefit of each member who has attained their normal retirement date but who has not retired, in an amount proportionate to (but not more than) the actuarially equivalent value of the member’s accrued pension as of the date of Plan termination, less any amount allocated as described in bullet one • The balance remaining after the allocation described in bullet three above will be allocated for the benefit of each member and deferred vested member for whom no allocation has been made in bullets two and three above, in an amount proportionate to (but not more than) the actuarially equivalent value of the member’s accrued pension as of the date of Plan termination, less any amount allocated as described in bullet one.
Future of the Plan. Your Employer hopes and expects to continue the Plan indefinitely but, as future conditions cannot be foreseen, reserves the right to change, modify or discontinue the Plan at any time. GROUP INSURANCE BENEFITS EMPLOYEES OF THE THIS IS AN IMPORTANTDOCUMENT AND SHOULD BE KEPT IN A SAFE PLACE. This booklet gives a brief outline of the plan for which a group policy was issued to your employer. This booklet does not create or any rights. The exact terms of the plan are described in the more detailed provisions of the group policy. In the event of a discrepancy between this booklet and the group policy, the of the policy will be applicable. Your employer has appointed a plan who looks after your insurance. The administrator arranges for enrollment in the plan, changes in insurance, termination from the plan and beneficiary appointments.
Future of the Plan. 12 16.1 Term of the Plan 12 16.2 Amendment or Termination 12 ARTICLE 17. DEFINITIONS 12
Future of the Plan. The Company expects to continue the Plan indefinitely but reserves the right in the event of unforeseen circumstances to modify or discontinue at any time. Eligibility: Full time employees hired after December 16, 2012 are required as a condition of employment to become members of the DC Component of the Plan following completion of two (2) years of continuous service with the company. The enrolment date will be the 1st day of the month following completion of the two (2) year waiting period. Any part-time or temporary employee hired on or after December 16, 2012 who satisfies the legislated eligibility conditions will become a member of the DC Component when so eligible. Pension Plan Statement: A statement will be provided at least annually.
Future of the Plan. The Company expects to continue the Plan indefinitely. Nevertheless the Company reserves the right, subject to any contractual obligations, to amend or terminate the Plan. No amendment, however, shall: (a) reduce the interest of any Participant accrued under the Plan to the date the amendment is adopted; or (b) divert any part of the assets of the Trust for a purpose other than the exclusive benefit of employees or former employees of Employer or their beneficiaries.
Future of the Plan. It is expected that the Plan will continue in effect indefinitely; however, the Company reserves the right to amend or to terminate the Plan. If the Plan is terminated, all of the assets of the trust fund will be used to provide benefits for active and retired participants, beneficiaries and surviving spouses. None of the assets of the Plan may revert to the Company until all liabilities are satisfied. Some of the benefits under the Plan are insured by the Pension Benefit Guaranty Corporation in the event of Plan termination.
