Defined Benefit Pension Plan Document
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. 4
SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN
Pursuant to Section 10.1 of the Plan, the Board of Trustees may amend the Plan. Upon adoption, copies of this Plan Amendment shall be distributed as provided for in Section 10.3 of the Plan.
The Board of Trustees has determined that a more uniform approach to month to month suspension of early retirement benefits for post retirement employment with construction industry employers is warranted. Nothing in this Plan Amendment shall be construed to diminish or curtail the length of suspension or loss of early retirement benefits for engaging in Non-Covered Electrical Employment or any other suspendible employment.
NOW THEREFORE the Plan is amended as follows:
- Section 9.7(b)(2) is hereby amended by adding a new sub-section (xviii) to read as follows:
"(xviii) In addition to all pre-existing limitations of the Plan as to pre Normal Retirement Age employment by Pensioners, all benefits accrued on and after January 1, 2017 shall be suspended for any month in which a pre Normal Retirement Age Pensioner is employed in any position by a contractor that holds, or is required to hold, any active license subject to the California Contractors State License Board or the comparable authority of any state, territory, locality or foreign country. In addition to all pre-existing limitations of the Plan as to pre Normal Retirement Age employment by Pensioners, all benefits accrued on and after January 1, 2017 shall also be suspended for any month in which a pre Normal Retirement Age Pensioner is employed in any position with a construction management firm, architectural firm, engineering firm or developer regardless of license status."
- All other provisions, terms and conditions of the Plan shall remain in full force and effect and are ongoing.
This Plan Amendment was authorized by action of the Board of Trustees and is executed this 13th day of September, 2016 at Commerce, California.
By: Signature on File
By: Signature on File