Common use of Plans and SPDs; Changes Clause in Contracts

Plans and SPDs; Changes. The benefits to be provided in this Article and the applicable terms and conditions shall be as described in the applicable Plan terms, which ultimately will be summarized in Summary Plan Descriptions (“SPDs”). To the extent there is any inconsistency between the SPDs or this Agreement and Plan terms, the Plan terms will govern. Eligible employees will be required to complete appropriate Plan enrollment forms. The Company shall have the right to change insurance carriers, Plan administrators, or benefit Plans, and/or shall have the right to self-insure, so long as any changes in Plan benefits resulting therefrom are reasonably comparable. However, the cost to the Company and employees of such changes may vary, including going up, depending on market conditions. The Company shall notify the Union and offer to explain such changes prior to their implementation. The Company will cap any annual premium rates do not increase by a total of 13% in a plan year, the difference between the actual increase and 13% will be added to the maximum rate increase in the following plan year, provide such increase does not exceed fifteen percent (15%). For example, in Year A, if the premium increases by 8%, then in Year B, the maximum allowable rate increase will be 13%. STEWARDS

Plans and SPDs; Changes. The benefits to be provided in this Article and the applicable terms and conditions shall be as described in the applicable Plan terms, which ultimately will be summarized in Summary Plan Descriptions (“SPDs”). To the extent there is any inconsistency between the SPDs or this Agreement and Plan terms, the Plan terms will govern. Eligible employees will be required to complete appropriate Plan enrollment forms. The Company shall have the right to change insurance carriers, Plan administrators, or benefit Plans, and/or shall have the right to self-insure, so long as any changes in Plan benefits resulting therefrom are reasonably comparable. However, the cost to the Company and employees of such changes may vary, including going up, depending on market conditions. The Company shall notify the Union and offer to explain such changes prior to their implementation. The Company will cap any annual employee premium increases at thirteen (13%) percent over the prior coverage year. In the event premium rates do not increase by a total of 13% in a plan year, the difference between the actual increase and 13% will be added to the maximum rate increase in the following plan year, provide provided such increase does not exceed fifteen percent (15%). For example, in Year A, if the premium increases by 8%, then in Year B, the maximum allowable rate increase will be 1315%. STEWARDS.