The Accrued. Benefit of a Participant shall never be decreased by an amendment of the Plan, except an amendment described in Section 412(c)(8) of the Code and Section 302(c)(8) of ERISA. An amendment which has the effect of eliminating an optional form of benefit with respect to benefits attributable to service before the amendment shall be treated as decreasing the Accrued Benefit of a Participant except as otherwise provided by Treasury Regulations.
Appears in 3 contracts
Sources: Employee Stock Ownership and 401(k) Savings Plan and Trust Agreement (Pavilion Bancorp Inc), 401(k) Savings Plan and Trust Agreement (Source One Mortgage Services Corp), Employee Stock Ownership and 401(k) Savings Plan and Trust Agreement (Source One Mortgage Services Corp)