Amendment to MDU Resources Group, Inc. 401(k) Retirement Plan Regarding Davis-Bacon Employees
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Summary
This amendment to the MDU Resources Group, Inc. 401(k) Retirement Plan, effective September 23, 2013, requires Knife River Corporation - Northwest (Utah Division) to make supplemental contributions for its Davis-Bacon Employees. These contributions ensure compliance with prevailing wage laws, regardless of any employer matching contributions. The amendment clarifies how the company will meet legal requirements for fringe benefits under the Davis-Bacon Act for affected employees.
EX-10.D 5 mdu-9302013q3ex10d.htm AMENDMENT TO 401 K RETIREMENT PLAN Wdesk | MDU-9.30.2013Q3 Ex 10(d)
INSTRUMENT OF AMENDMENT TO THE
MDU RESOURCES GROUP, INC.
401(k) RETIREMENT PLAN
The MDU Resources Group, Inc. 401(k) Retirement Plan, as restated March 1, 2011 and further amended (the “Plan”), is hereby further amended, effective September 23, 2013, as follows:
By adding the following new entry to Schedule B:
Knife River Corporation - Northwest (Utah Division) shall make supplemental contributions on behalf of its Davis‑Bacon Employees in such amounts as may be necessary to satisfy the required Prevailing Wage Law fringe cost without regard to any employer Matching Contributions pursuant to Supplement G.
Effective as of September 23, 2013.
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Explanation: This amendment provides the manner in which the above Participating Affiliate is implementing the provisions of the Davis-Bacon (Supplement G) feature.
IN WITNESS WHEREOF, MDU Resources Group, Inc., as Sponsoring Employer of the Plan, has caused this amendment to be duly executed by a member of the MDU Resources Group, Inc. Employee Benefits Committee (“EBC”) on this 23 day of September, 2013.
MDU RESOURCES GROUP, INC. | |||
EMPLOYEE BENEFITS COMMITTEE | |||
BY: | /s/ Doran N. Schwartz | ||
Doran N. Schwartz, Chairman | |||