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Union Contract Local 2, OPEIU - WMATA.com

Union Contract Local 2, OPEIU - WMATA.com

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of benefits currently provided outside of the plan byamending the terms of these benefits and the plandocument to provide that such benefits will be providedwithin the confines of the new plan).The new plan will have terms identical to the existingplan (except for any changes necessary to (1) obtain adetermination letter from the Internal Revenue Servicethat the new plan meets the requirements for qualificationunder Section 401(a) of the Internal Revenue Code,and (2) reflect the changes in benefits and other Planprovisions contained in the parties Tentative Agreement,dated 09/15/01, (including, without limitation, those provisionswhich relate to the ability of the Authority to utilizesurplus assets to pay the Authority’s share of benefits foremployees represented by <strong>Local</strong> 2 – current, terminatedvested, retirees, beneficiaries)).(j)When developed, the Authority will provide a tollfree number that retirees can use to obtain Plan andbenefit information.The Retirement amendments set forth in this paragraph willapply only to employees who are active employees on or afterthe effective date of the Plan amendments. The amendmentsmade pursuant to subjections (g) and (h) were effective as ofJune 29, 2001.The existing (defined benefit) <strong>WMATA</strong>/<strong>Local</strong> 2 RetirementPlan will be amended to provide that, solely in the case of aParticipant who ceases to work for the Authority on or afterJuly 1, 2006, Compensation for the period July 1, 2004 throughJune 20, 2006 will be <strong>com</strong>puted on the basis of the basic <strong>com</strong>pensationshown on the pay grade schedule maintained by theAuthority instead of basic <strong>com</strong>pensation actually received by aParticipant.51

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