Common use of Future Revisions Clause in Contracts

Future Revisions. The Trustees shall review the Rehabilitation Plan and the Schedules each year and shall make any changes or updates required under IRC Section 432(e)(3)(B). Although the benefit reductions and contribution rates specified in this Schedule as applicable in future years are subject to change, those changes shall not be applied with respect to a collective bargaining agreement negotiated in reliance on this Schedule. Nothing in this paragraph shall prevent or interfere with the implementation of any reductions in Employer contributions or reductions in benefit cuts expressly provided for in such bargaining agreement. In addition, if there are legislative, regulatory, judicial or other changes or interpretations of the PPA or other state or federal law which would impact the benefit reductions and/or contribution increases set forth in this Schedule, the Trustees shall update and amend this Schedule to mitigate such benefit reductions and contribution increases.