Amendment
And Termination
In order that
the plan may carry out its obligation to maintain, within the limits of its
resources, a program dedicated to providing the maximum possible benefits for
all participants, the Board of Trustees expressly reserves the right, in their
sole discretion at any time and from time to time, but upon a nondiscriminatory
basis, to:
- Terminate
or amend either the amount or condition to eligibility with respect to any
benefit even though such termination or amendment affects claims which have
already accrued;
- Terminate
this plan even though such termination affects claims which have already
accrued;
- Alter
or postpone the method of payment of any benefit;
- Construe
the provisions of the plan and to determine any and all questions pertaining to
administration, eligibility, and benefit entitlement, including the right to
remedy possible ambiguities and inconsistencies or omissions. Any construction
or determination by the Trustees made in good faith shall be conclusive on all
persons affected thereby;
- Reduce
or eliminate any plan subsidy; and
- Amend
or rescind any other provisions of this
plan.
The
Trust may be terminated by the employers and union by an instrument in writing
executed by mutual consent at any time, subject, however, to all of the
requirements and procedures for plan termination under ERISA and all regulations
issued thereunder. Upon the termination of the Trust, any and all monies
remaining in the Trust after the payment of all expenses shall be used for the
continuance of one or more benefits of the type provided by the plan, until such
monies have been exhausted. If the termination occurs as a result of merger, any
and all monies and assets remaining in the Trust after payment of expenses, may
be transferred to the surviving trust with which the merger was
negotiated.
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