Common Contracts
1 similar Final Settlement Agreement contracts
Lunds & Byerlys and UFCW UNION LOCAL 1189 Final Settlement AgreementFinal Settlement Agreement • April 24th, 2019
Add: It is agreed that in the event that net reserves (net of IBNR and all Liabilities) of the Fund fall below one and one half (1.5) months as of October 1, 2019 or in a month thereafter for the life of this agreement, then the Trustees will determine the needed plan design changes required to maintain a minimum of one and one half (1.5) months net reserves (net of IBNR and all Liabilities) at no additional cost for Employers. Eligible participants will be allowed to vote between either a plan reduction or participant contribution increases to maintain the plan and achieve the net reserves. Trustees will agree to implement the resulting changes.
