Toledo union journal. [volume] (Toledo, Ohio) 1942-current, 1950-10-20
Of The Area Pension Plan


entitled to any retirement benefit. IL the en-
ployee retired employee shall attempt to,
shall, ALLEVIATE, SELL transfer, assign or other
wise cucumber his benefits under the Plan or
any part hereof if by reason of his bank
ruptcy or other event happening at any such
time soon benefits would devolve upon anyone
else or would not be enjoyed by him. then the
Board in its discretion may terminate his inter-
est in any such benefit and hold or apply 1t to or
for the benefit of such person, his spouse, chill
dren or other dependents or any of them in
such manner the Board may deem proper
ARTICLE xI-AMENDMENT AND DURATION
OF THE PLAN
1.-The Plan may be modified, altered or
amended upon mutual agreement of the en-
ployers and the Union. Any notifications, al
terations amendments required by the Bureau
of Internal Revenue Code for the purpose of
approval of the Plan under Section 165 of the
Internal Revenue Code, may be made retro
actively and shall be accomplished by action of
the Board of Administration.
e. The Plan shall continue in full force
and effect for period of five (5) years from
and after the effective date hereof and there
after until either the employers the Union
serves upon the other written sixty day notice
OF desire to negotiate with respect to modifi-
cation of the Plan. Negotiations shall commence
at the expiration of said sixty-day period or
earlier by mutual agreement of the parties and
all employers who parties to the agreement
at such time shall be parties to the negotiations.
AT any time during such negotiations or any
time after the expiration of said sixty day per-
iod either party may serve upon the other y
second written sixtyday notice of desire to ter
inmate, In which event this Plan shall terminate
sixty days after such termination notice has
been served. For the duration of this Plan,
neither the employers nor the Union shall de-
mand any change in said Plan, shall either
ho rnI - I~~~
change in the Plan, nor shall any notifications
alteration or amendment of said Plan be an OBJ
1ecuVe OF or be stated as reason for any strike
or lockout, or other exercise of economic force
or threat by the Union the Employers
ARTICLE XH-TERMINATON OF THE PLAN
For the Purpose of this article the Plan shall
be considered to be terminated if discontinued
by all employers or by majority of the employ
ers with the consent of the Union. In the event
of such termination the assets then remaining
In the Trust Fund, after providing the expenses
of the Plan, shall be aocated, to the extent that
they shall be sufficient for the purpose of paying
retirement benefits (based on credited service
to the date of discontinuance of the Plan) to re-
tirees in the following order of procedure:
a. To provide their retirement benefits to
employees who shall have retired under the Plan
prior to its discontinuance, without reference to
the order of retirement;
b. To provide normal retirement benefits
upon retirement to employees aged 65 over
on the date of discontinuance without reference
to the order in which they shall have reached
the age of 65;
C. To provide normal retirement benefits
upon retirement to employees aged so or over
but less than 65 on the date of discontinuance
without reference to the order in which they
shall reach the age of 65;
d. To provide normal retirement benefits
upon normal retirement to employees aged so
or over but less than 60 on the date of discon-
tnuaDC6 without reference in
they shall reach the age of 65;
e. To provide normal retirement benefits
upon normal retirement to employees below the
age of so on the date of discontinuance, without
reference to the order in which they shall reach
the age of 65.
Such ALLEGATION shall be accomplished through
either % continuance of the Trust Fund or
new Trust Fund or (2) purchase of insurance
annuity contracts; provide however, that the
Board, upon finding that it is not practicable or
desirable under the circumstances to do either
of the foregoing with respect to some or all of
the groups listed above, may, with the unanimous
consent of all its members, provide for some al
location of part all of the assets of the Trust
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