1. Death Benefit
   Your beneficiary is eligible for a death benefit if you die while a participant in the Plan.You may choose anyone you like to be your beneficiary, but if you are married and your spouse is not designated, your spouse must consent in writing to such designation. The consent must be witnessed by a notary public or the Fund Manager or Assistant Fund Manager.If your spouse is the designated beneficiary and you were married for at least one (1) year at the time of your death, your spouse can receive a Qualified Pre-Retirement Survivor Annuity for the rest of his or her life from your Account balance. Alternatively, your surviving spouse may elect to have a benefit payment received in a lump sum distribution.If there is no designated beneficiary on file with the Fund for a deceased Participant, the Trustees shall pay such monies to the spouse. If there is no spouse surviving, to your surviving children in equal shares. If there are no children surviving, to your estate.
2. Retirement Benefit
   Normal Retirement Age is 65. Your Normal Retirement Date is the first day of the month coincident with or next following your 65th birthday. However, if certain conditions are met, you may receive a distribution earlier than age 65. If you reach age 55 and have retired from the industry, and are no longer available for work with a contributing employer as evidenced by you not being registered for employment in accordance with the referral procedure in the applicable Collective Bargaining Agreement, or if you become disabled you shall be eligible to retire.If you are not married throughout the one year period ending on your annuity starting date, or if you elect not to receive a Qualified Joint and Survivor Annuity, the retirement benefits provided herein may, at your election, be paid as a monthly benefit of at least $100 a month until the net value of your Account is exhausted. A Participant may increase the amount of the monthly benefit by multiples of $100.
3. Disability Benefit
   If you become totally and permanently disabled due to a physical or mental condition and cannot perform the customary duties of your employment you may be eligible for a disability benefit. The Disability Benefit, at your election, may be a monthly benefit of $100 until the net value of your Account is exhausted. You may increase the monthly benefit by multiples of $100 or elect to receive the entire account in a lump sum.
4. Termination Benefit
   1. In the event no contributions have been made to your Account for a period of two (2) consecutive calendar years, and your Account Balance is $1,000 or less, the Trustees may distribute such amount to you before your Annuity Starting Date without the consent of your spouse.
   2. In the event you are not working in the trade in the same geographic area covered by the Plan and you have attained your 55th birthday, you may apply for a Termination Benefit of $100 payable monthly until the net value of your Account is exhausted. You may increase your monthly benefit by multiples of $100, but no more than twice in any consecutive twelve month period.
   3. In the event you have a credit balance in your Account, and:
      1. You have not been a Plan Participant for a period exceeding twelve consecutive months; or
      2. you have entered the armed forces; or
      3. you are not working in the trade in the same geographic area covered by the Plan.

      Based upon the foregoing, you may be eligible for a Termination Benefit of $100 a month for each 30-day period that you have not worked for a contributing Employer. The Trustees may increase the monthly amount in multiples of $100 up to $1,900.

   4. If you have not worked for a contributing Employer for at least 12 consecutive months, you may apply for a Termination Benefit payable in one lump sum, if the value of your Account does not exceed $1,000. If the present value of your Account exceeds $1,000 and your Spouse consents in writing to the distribution, you are eligible to apply for a distribution of 25%, 50% or the entire value of your Account.
5. Method of Payment of Various Benefits
   A Qualified Joint and Survivor Annuity is an Annuity determined at the effective date of your retirement, based upon your age and that of your spouse. If you die before your spouse, (to whom you were married for at least one (1) year at the effective date of your retirement) your spouse will continue to receive a monthly annuity for life equal to 50% or 75% of the monthly annuity you had been receiving. This protection exists for your spouse even if you become divorced after your benefit payments start. A Qualified Joint and Survivor Annuity applies to your distribution if you are married throughout the one (1) year period ending on your annuity starting date.A Lifetime Annuity stops at your death and does not provide for a continuation to your spouse. Finally, in place of receiving periodic income with your spouse’s consent you may elect to receive your entire Account in a lump sum or by other available options provided in your retirement benefit application.In the event that you die prior to retirement, if you are married your spouse can receive a Qualified Pre-retirement Survivor Annuity based on the balance in your Account as of the date of death. However, your spouse may elect to receive a lump sum distribution of your Account balance payable upon your death.For you to receive any benefit other than a Qualified Joint and Survivor Annuity you must submit to the Fund an election not to receive a Qualified Joint and Survivor Annuity which must be accompanied by your spouse’s consent in writing to such election which is witnessed by a notary public, the Fund Manager or the Assistant Fund Manager.You may also elect to have your distribution paid in a direct rollover to an eligible retirement plan specified by you.
6. Loans to Participants
   You are eligible for loans during periods of financial need which may result from your unemployment or sickness, disability of yourself or members of the immediate family, or for the purpose of [purchasing your first time principal residence (loan up to $10,000)]; or preserving the home, the Trustees may, upon application, grant loans to Participants.Loans must be repaid when due and if not repaid, any retirement or termination benefit that a member shall be eligible to apply for, shall be first used to repay the loan.If an outstanding loan is refinanced through the Fund, it is to be treated as a second loan, and the maximum loan limit shall apply to the sum of the new loan and the portion of the old loan being paid off.If a loan is refinanced, it must be paid in full within five (5) years from the date of the initial loan.A loan shall not be considered paid in full even if you default and the Fund treats it as a taxable distribution. If you default on a loan, even if such loan is eventually repaid you shall no longer be eligible for further loans from the Plan.
7. Qualified Domestic Relations Order (“QDRO”)
   In general, ERISA and the Internal Revenue Code do not permit you to assign your interest in a pension plan to another person. Certain rules are intended to ensure that your pension benefits are available to provide financial support during your retirement years. However, a limited exception to these rules permits the assignment of your interest in the Plan to another person through a QDRO.Under the QDRO exception, a domestic relations order may assign some or all of your pension benefits to a spouse, former spouse, child, or other dependent to satisfy family support or marital property obligations if and only if the order is “qualified” by the Fund. The Fund’s procedures governing QDRO’s can be obtained without charge from the Fund Office.