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Annuity Fund Plan

Amendment or Termination

District Council 37 may amend the Plan at any time, and may merge or terminate the Plan and dissolve the Annuity Fund at any time. No transfer of assets or liabilities will occur unless each Participant in the Plan would receive a benefit immediately after the merger or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger or transfer. No Plan amendment or termination will make it possible for any part of the assets of the Annuity Fund to be used for, or diverted to, purposes other than the exclusive benefit of the Participants and their beneficiaries.



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