Common use of Pension Protection Act Clause in Contracts

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreement) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule and Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; and (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreementagreement ) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule and Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreementagreement ) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule and the Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreementagreement ) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule schedule and the Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new the 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; and (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreement) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule and the Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreement) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule and the Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:

Pension Protection Act. The Fund actuaries have: (a) certified under the Pension Protection Act (the “PPA”) that the Pension Fund was in critical status for each of the Plan Years beginning 4/1/2008 to 4/1/2016, and that they expect the Fund will again be in critical status for the Plan Year beginning 4/1/2017; (b) determined that the 2014 Schedule (as that term is defined in the previous collective bargaining agreement) is no longer sufficient to permit the Fund to emerge from critical status during the required time frame, even if the Fund takes full advantage of the funding relief available under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (the “Pension Relief Act”). Therefore, the parties hereby agree as follows: Because the 2014 Schedule and Rehabilitation Plan is no longer sufficient to permit the Fund to emerge from critical status by March 31, 2024, the Trustees are authorized and directed to adopt a new 2016 Preferred Schedule which provides for increases in the employer contribution rates consistent with this Article (the “2016 Preferred Schedule”). The Trustees are further authorized to update the Rehabilitation Plan as required by the PPA and to be consistent with the 2016 Preferred Schedule. Upon adoption of the 2016 Preferred Schedule, it is hereby deemed approved by the bargaining parties and automatically incorporated into this Agreement. The following provisions shall apply to the implementation and operation of the Preferred Schedule:and