Change or Discontinuance of Plans

MPTN intends to continue the team member benefits plans indefinitely. However, MPTN reserves the right to amend, modify, suspend, or terminate any plan, in whole or in part, subject to applicable legal and contractual agreements, at any time and for any reason. A decision to terminate, amend, or replace a plan may be due to changes in  the law governing qualified retirement or welfare benefits, the requirements of the Internal Revenue Service, TERISA, or any other reason.

If a plan is terminated, you will still be paid any benefit you were entitled to receive under the terms of that plan, up to the cancellation date. Long-term disability payments will be paid to the extent funded.

For some of the plans, if MPTN terminates the plan, you may be able to convert your coverage to an individual insurance policy. Please refer to the description of the specific plan for these privileges.

If MPTN terminates the Health Care Flexible Spending Account Plans and the Dependent Flexible Spending Account Plans, no further contributions will be made to team member accounts. However, you can continue to submit and be reimbursed for claims for eligible expenses through March 31 following the year in which the plan terminates.