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Summary Plan Description
Other Important Information
The official name of the Plan is the Sprinkler Industry Supplemental Pension Plan. The type of plan is defined as a contribution, profit-sharing plan. Such a plan does not have termination insurance under the Pension Benefit Guaranty Corporation.
The Employer Identification Number assigned by the Internal Revenue Service to the Board of Trustees is 14-1595069. The Plan Number assigned by the Board of Trustees is 001.
The Plan Year ends on December 31.
Service of Legal Process
The following has been designated as the agent for the service of legal process:
Board of Trustees
Contributions to the Plan are made by employers in accordance with their collective bargaining agreements with Sprinkler Fitter Local Unions. Local Unions contribute for their employees in accordance with a Participation Agreement between the Local Union and the Fund. Employers contribute for any non-collectively bargained employees in accordance with Participation Agreements between those Employers and the Fund. Employee contributions are not permitted.
Collective Bargaining Agreements
This Plan was established through collective bargaining. A copy of a collective bargaining agreement may be obtained from the Fund Office upon written request. A charge may be made to cover the cost of providing the requested documents. The Fund Office will also provide you, upon written request, information as to whether a particular employer is contributing to this Fund on behalf of employees working under a collective bargaining agreement.
A copy of Plan documents may be obtained from the Fund Office upon written request. A charge of up to 25¢ per page may be made to cover the cost of providing the requested documents. Also, you may examine the Plan Documents during normal business hours at the Fund Office or, within 10 days of a written request to the Fund Office, at the office of a Local Union or at work sites where 50 or more Participants customarily work.
Benefits are provided from the Plan's assets, which are accumulated under the provisions of collective bargaining agreements and the Trust Agreement and are held in a trust fund for the sole purpose of providing benefits to covered Participants and paying the Plan's administrative expenses.
The Plan assets are held in trust by the custodian bank, Bankers Trust.
The Trustees have the authority to amend the Plan in accordance with the Trust Agreement. The Trustees are required to make amendments necessary to maintain the tax-qualified status of the Plan.
Plan Termination, Amendment or Elimination of Benefits
The Trustees intend to continue the Plan described in this booklet indefinitely. Nevertheless, they reserve the right to terminate or amend the Plan. The Fund may be terminated by a document in writing adopted by a majority of the Trustees. The Fund may be terminated if, in the opinion of the Trustees, the Trust Fund is not adequate to carry out the intent and purpose of the Fund as stated in its Trust Agreement, or is not adequate to meet the payments due or that may become due under the Plan of Benefit. The Fund may also be terminated if there are no longer any Collective Bargaining Agreements requiring contributions to the Fund. The Trustees have complete discretion to determine when and if the fund should be terminated.
If the Fund is terminated, the Trustees will: (a) pay the expenses of the Fund incurred up to the date of termination as well as the expenses in connection with the termination; (b) arrange for a final audit of the Fund; (c) give any notice and prepare and file any reports that may be required by law; and (d) apply the assets of the Fund in accordance with the Plan of Benefits including amendments adopted as part of the termination until the assets of the Fund are distributed.
No part of the assets or income of the Fund will be used for purposes other than for the exclusive benefit of the Participants and Beneficiaries or the administrative expenses of the Fund. Under no circumstances will any portion of the Fund revert or inure to the benefit of any contributing Employer, the Association or any participating Union either directly or indirectly.
Upon termination of the Fund, the Trustees will promptly notify the Unions, the Association and Employers, and all other interested parties. The Trustees will continue as Trustees for the purpose of winding up the affairs of the Fund.
In addition, the Trustees have complete discretion and authority to amend or modify the Plan and any of its provisions, in whole or in part, at any time.
Where to Get More Information
You may obtain additional information about the Plan by writing to the Fund Office. Be sure to include your name, address, Social Security number, and the name of your Contributing Employer in any correspondence to the Fund Office.