225 – Distribution of Assets if System is Terminated. (1) The employer hopes and expects to continue the System indefinitely but necessarily reserves the right to amend, modify, suspend, or terminate the System in a manner compatible with any applicable collective bargaining agreement. No such action shall operate to recapture for the employer any contributions previously made under the System prior to the satisfaction of all liabilities for System benefits to members, nor, except to the extent necessary to meet the requirements of any other governmental Authority, to affect adversely the benefits of retirants and beneficiaries or the trust fund or insured fund then securing such benefits.
