AMENDMENT NUMBER EIGHT TO THE AMERICAN FEDERATION OF MUSICIANS AND EMPLOYERS’ PENSION PLAN (As Amended and Restated Effective as of January 1, 2002)
WHEREAS, on February 20, 2002, the Board of Trustees (the "Board") of the American Federation of Musicians and Employers' Pension Fund (the "Fund") adopted the American Federation of Musicians and Employers' Pension Plan, as amended and restated effective as of January 1, 2002 (the "Plan"); and
WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves the right to amend the Plan at any time; and
WHEREAS, the Board now desires to amend the Plan in the manner set forth herein to clarify certain provisions, effective as of the January 1, 2002 amendment and restatement date .
NOW, THEREFORE, the Plan is amended as follows:
1. The second sentence of Section 1.12 (Definition of "Covered Employment") is hereby amended to read as follows:
Notwithstanding the preceding sentence, the criteria used to establish categories of Covered Employment shall not directly or indirectly impose an age or service requirement, or have the effect of excluding part-time Employees.
2. The third sentence of Section 1.16 (Definition of "Employees") of the Plan is hereby amended to read as follows: The term "Employee," however, shall not cover or include (i) a self-employed person or sole proprietor which is an Employer (including, without limitation, a band leader) who is acting as his or her own employee (or the spouse of such person), (ii) the spouse of a person described in (i); or (iii) a partner of a partnership that is an Employer who is acting as an employee of such partnership; provided, however, that a shareholder of a corporation or an owner of a limited liability company ("LLC") (including, without limitation, a band leader) that is an Employer that is duly organized and operated under the laws of a State of the United States, who is employed by that corporation or LLC to render service as a musician pursuant to a collective bargaining agreement, participation agreement or similar agreement acceptable to the Trustees, and who was not an owner of an LLC who was a member of the plaintiff class in the Rochetti action that was settled in 1991, shall be considered an "Employee".
3. The first paragraph of Section 8.06(a) (Commencement of Pension Benefits Generally) is hereby amended to read as follows: After a Participant fulfills the applicable eligibility requirements, payment of a Regular Pension Benefit, Disability Pension Benefit, or Retirement Account Benefit, as applicable, shall be effective as of the following date (the "Annuity Starting Date"): (i) the first day of the calendar month immediately following receipt by the Plan Administrator from the Participant of an application for pension benefits which is complete in all respects on the forms provided by the Plan Administrator for such purpose (including all necessary election and consent forms) or (ii) the first day of the second calendar month following receipt by the Plan Administrator from the Participant of an application for pension benefits which is complete in all respects on the forms provided by the Plan Administrator for such purpose (including all necessary election and consent forms) if such receipt occurs after the fifteenth day of a calendar month. Payment will be made or commence on the Annuity Starting Date or, if the completed application is received by the Fund Office after the monthly payment processing cut-off date, the first day of the following calendar month next following the Annuity Starting Date.
Adopted by the Board of Trustees: 9/20/2006
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