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Additional Information
If I Owe Money, Can I Sign Over My Individual Account?

No. The law requires the Plan to include a provision prohibiting the assignment of your benefit to another person. This is for your protection. However, if the Trustees receive a domestic relations order which the Fund determines is a Qualified Domestic Relations Order requiring that some or all of your benefit be paid to an alternate payee (your spouse, former spouse or your child), that order will be honored to the extent required by law.

What Rights to My Benefit Can My Spouse, Ex-Spouse or Dependents Have?

If you become separated or divorced, your spouse, ex-spouse, child or other dependent may be entitled to receive some or all of your benefits under the Plan to the extent awarded in a court decree which meets the legal requirements for a Qualified Domestic Relations Order. Upon request, the Fund Office will provide the Plan Procedures and Requirements for Qualified Domestic Relations Orders.

Are My Individual Account Plan Benefits Affected by Receipt of Social Security or Other Benefits?

No. Your benefits from this Plan are in addition to any Social Security or other retirement benefits and are not affected by them.

Do I Have to Pay Tax on the Money Earned in My Individual Account?

The money in your Individual Account is not considered taxable income to you until you actually receive it. Therefore, while the money remains in the Plan, no taxes are paid either on the contributions made on your behalf or on the earnings on those contributions. When you receive the money in your Individual Account as benefits, however, it must be reported as taxable income. The law requires the Plan to withhold 20% of benefits paid to you in a lump sum or payments from an insurance company in installments for less than ten (10) years for taxes unless these benefits are paid directly to the trustee of your Individual Retirement Account (IRA) or another pension plan in which you participate. If benefits are paid directly to an IRA or another plan they are referred to as a "direct rollover". The benefits that are subject to the mandatory 20% income tax withholding unless they are rolled over directly to an IRA or other plan are called "Eligible Rollover Distributions."

Not all benefit payments from this Plan are "Eligible Rollover Distributions" as defined in the law. An Eligible Rollover Distribution does not include benefits paid as a Single Life Pension or benefits paid as a 50% Husband and Wife Pension or benefits paid in installments for ten (10) years or more. It does not include benefits paid because you have reached age 70 ½ unless you continue to work and you do not own 5% or more of an Employer. The Plan is not required to withhold 20% for income taxes from a benefit that is not an Eligible Rollover Distribution.

If benefits are paid as a lump sum or in installments before you have attained age 55, an additional 10% tax is applied as a penalty for receiving the benefit so early. This penalty may be avoided if the benefits are rolled over directly to an IRA or other pension plan. Also this additional tax is not charged if you receive benefits after age 55 or a life annuity or disability benefits at any age.

You will receive a detailed explanation of these rules at the time you apply for your benefits. You should seek professional tax advice for assistance when benefits are paid from your Individual Account.

Special Requirements for Non-Collectively Bargained Employees

The Internal Revenue Service has issued rules governing the Supplemental Pension Plan's coverage of non-bargaining unit employees. These rules provide that if an employer contributes to a collectively bargained pension plan on behalf of employees who are not in a collective bargaining unit, the "non-bargaining unit employees" of that employer must separately meet these IRS requirements without taking bargaining unit employees into account.

Employers (including Local Unions) who provide contributions to non-bargaining unit employees are required to provide the Plan with written certification that their contributions do not violate nondiscrimination and coverage rules, or must provide the Plan with enough information for the Plan to determine compliance with the IRS rules.

If requirements of the Internal Revenue Code are not met or the employer does not complete a certification or otherwise cooperate with the Plan's efforts to determine the employer's compliance with IRS requirements, the non-bargaining unit employees will not earn benefits under the Plan from the date of the employer's noncompliance or failure to cooperate.