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Summary Plan Description
IMPORTANT PLAN INFORMATION
The following additional information concerning your Plan is being provided to you in accordance with government regulations:
Plan Name and Type of Plan
The National Automatic Sprinkler Industry Pension Plan is a defined benefit pension plan.
The Plan is a collectively bargained, joint trusteed labor management trust fund. The Plan is administered by a ten-member Board of Trustees.
Source of Financing of the Plan and Identity of Any Organization Through Which Benefits are Provided
Benefits are provided from the Plan's assets , which are accumulated under the provisions of the Agreement and Declaration of Trust that established the Plan. These assets are held in trust and are used for the purpose of providing benefits to Participants and Beneficiaries in accordance with the provisions of the Plan of benefits and for paying the reasonable administrative expenses of the Plan.
All contributions to the Plan are made by Employers in accordance with their collective bargaining agreements with the participating Sprinkler Fitter Local Unions. The collective bargaining agreements require that contributions be made to the Plan at fixed rates per hour worked. The Fund Office will, upon written request, provide you with information as to whether a particular Employer is contributing to this Plan on behalf of Employees working under a collective bargaining agreement.
The Fund's assets are held in custody by Comerica Bank.
Service of Legal Process
The Board of Trustees have been designated as the agent for the service of legal process. Service of legal process may be made upon a Plan Trustee or at the Fund Office.