Pension > SPD > Future Benefit Changes

FUTURE BENEFIT CHANGES

Effective September 26, 2003, the Plan Trustees no longer have the authority to amend the Plan in a manner that would directly or indirectly affect the level of benefits paid to participants or beneficiaries. Amendments that directly or indirectly affect the level of benefits paid to participants or beneficiaries may only be made in accordance with the provisions of Section 23.1(e) of the collective bargaining agreement between the Company and the Union or any successor thereto, which provisions currently permit such amendment only by joint resolution of the Company and the Union.