MLBH definition
Examples of MLBH in a sentence
For a period of fifteen (15) years commencing on the Effective Date of the Settlement, and provided that the Plan continues to be maintained and established by MLBH, the Plan will pay the accrued benefits payable to Participants under the terms of the Plan.
Should the Plan be unable to pay the accrued benefits specified in this Paragraph, MLBH will guarantee those benefit payments for a period of fifteen (15) years commencing on the Effective Date of Settlement.
During the same fifteen-year time period, the Settlement further provides that MLBH will provide participants with summary plan descriptions, summaries of material modifications to the Plan and annual funding notices substantially similar to the documents that are required to be provided by ERISA plans.
Nothing in this Settlement Agreement eliminates or restricts any argument Defendants may have that MLBH constitutes a church or part of a church for purposes of the Church Plan exemption.
This litigation (the “Action”) was filed in federal district court against MLBH, the Benefits Committee of the Methodist Healthcare Pension Plan (the “Plan”), and the individual members of the Committee.
The Settlement provides that if the Plan has insufficient funds to pay full benefits to Plan Participants at any time in the next fifteen (15) years, MLBH will contribute sufficient funds to make up any shortfall.