Plan Status. Nothing herein shall be construed as an agreement that the Plan is not properly treated as a Church Plan or that the Plan is subject to ERISA. Similarly, nothing herein shall be construed as an agreement that the Plan is properly treated as a Church Plan or that the Plan is not subject to ERISA. The Parties acknowledge that Defendants will continue to operate the Plan as a Church Plan. Further, the Parties acknowledge that the Plan will be closed to new participants and accrued benefits will be “frozen” on or before December 31, 2018. Thereafter, no additional benefits will accrue under the Plan for any participants.
Appears in 3 contracts
Sources: Class Action Settlement Agreement, Settlement Agreement, Class Action Settlement Agreement