| Joining the Plan
You will be come a participant in the Plan on the first day that
your employer contributes to the Plan on your behalf under the Union’s
collective bargaining agreement, Annuity Trust agreement or other
agreement with the Trustees.
Employer Contributions
Your Employer is required to make contributions to the Plan on
your behalf based on the collective bargaining agreement, Annuity
Trust agreement or other agreement with the Trustees. The amount
contributed is determined by that agreement.
Managing Your Investments
Under the Plan, you direct the manner by which your account is
invested. For this purposed, the Plan offers a range of investment
options.
Vesting
The amounts properly credited to your account under the Plan are
always 100% vested.
Vesting means ownership. You are always 100% vested (in other words,
you have complete ownership subject to your spouse’s rights
as required by ERISA) in your account (adjusted for investment gains
and losses).
Accessing Your Account
The Plan allows you to borrow from your account and/or withdraw
from your account under certain circumstances.
Retirement
When you retire or otherwise, when eligible, cease covered employment,
your account balance will be paid to you or you may elect to have
your account transferred to an Individual Retirement Account (IRA)
or to another qualified employer-sponsored retirement plan. Under
certain circumstances, you may also elect to defer distribution
of your account.
Spouse
Under the applicable Federal Employee Retirement Income Security
Act (ERISA), your spouse has rights regarding your ownership of
your account.
Employer
An Employer is a defined term which in substance means one required
to make a contribution on your behalf.
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