Defined Benefit Pension Plan Document

Important Note:
Notwithstanding any information in these Plan Document pages or embedded links, for retirements that are first in pay status on or after April 1, 2017, certain Defined Benefit Plan provisions are scheduled to change in accordance with the adoption of Alternative Schedules 1 or 2 under the Second Critical Status Rehabilitation Plan.

AMENDMENT NO. 3
TO THE
SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN

The Board of Trustees of the Southern California IBEW-NECA Pension Trust Fund hereby adopts the following Amendment to the Southern California IBEW-NECA Pension Plan (“Plan”):

  1. This Amendment shall be construed in strict accord with Internal Revenue Code Section 401(a)(9) and the regulations related thereto.
  2. The Board of Trustees has reserved to themselves the right to amend the Plan from time to time.

NOW THEREFORE, the Plan is hereby amended as follows:

Section 8.9 is hereby amended by adding the following to the end of the existing language:

  1. “If a Participant or Pensioner is not married at the date of death and is not survived by a child under age of twenty-one, then, under the Plan, any death benefits are payable either to named beneficiaries or preference beneficiaries. If a Participant or Pensioner has no named beneficiary nor any surviving preference beneficiary then the only death benefits payable under the Plan is to provide for the necessary funeral expenses of the Participant or Pensioner in some instances. If such a named beneficiary fails to file a claim within one year of the Participant’s death then that named beneficiary’s share shall be paid pro-rata among any named beneficiaries who do file a claim within one year of the Participant or Pensioner’s death. If no named beneficiary files a claim within one year of the Participant or Pensioner’s death, then benefits shall be paid to preference beneficiaries under Article 8.7 as if no named beneficiary survived the Participant or Pensioner. If preference beneficiaries fail to file a claim within three years of the Participant’s death then in that event the only death benefits payable shall be those payable under Article 8.7 as if no named beneficiaries nor any preference beneficiaries survive the Participant. Nothing in this Article shall impair the obligation of the Plan to pay appropriate QPSA and QJSA benefits.
  2. This Plan Amendment shall be effective for deaths occurring on and after the date of adoption.
  3. All other terms and conditions of the Pension Plan shall remain in full force and effect.

Executed this 20th day of April, 2016 at Commerce, California.

Board of Trustees of the Southern California IBEW-NECA Pension Plan

By: Signature on File
Chairman

By: Signature on File
Secretary