ATLANTA PLUMBERS AND STEAMFITTERS PENSION PLAN€¦ · (h) Social Security Records (i) Civil Service Records (j) Photo Driver’s License 3. If you apply for a d isability benefit

December 9, 2016

ATLANTA PLUMBERS AND STEAMFITTERS PENSION PLAN

Summary Plan Description

Revised Effective January 1, 2016

A Defined Benefit Pension Plan for Participants of the

Atlanta Plumbers and Steamfitters Pension Plan

TABLE OF CONTENTS

Atlanta Plumbers and Steamfitters Pension Plan (Summary Plan Description) Page i

Part I: Atlanta Plumbers and Steamfitters Pension Plan

Introduction ................................................................................................................................ 1

Part II: Administrative Items

Address Notification ................................................................................................................... 2

Plan Administration ................................................................................................................... 2

How to Apply for Benefits .......................................................................................................... 4

Claims Review and Appeal Procedure ....................................................................................... 5

Part III: Definitions ................................................................................................................................. 7

Part IV: Participation, Service Accrual and Vesting

Commencement of Participation ................................................................................................ 12

Termination of Participation ...................................................................................................... 12

Credited Service Accrual ........................................................................................................... 12

Service Credit For Non-covered Employment ........................................................................... 13

Vesting Service ........................................................................................................................... 14

Vesting ........................................................................................................................................ 14

Loss of Credited Service and Vesting Service ............................................................................ 14

Restoration of Credited Service and Vesting Service ................................................................. 15

Part V: Types of Benefits and Calculation of Accrued Benefit

Types of Benefits ......................................................................................................................... 16

Calculation of Accrued Benefit .................................................................................................. 16

Part VI: How Your Retirement Benefits are Paid

Automatic Forms of Benefit Payment ......................................................................................... 20

Optional Forms of Benefit Payment ........................................................................................... 20

Notification Regarding Forms of Benefit Payment and Effect on Timing and Amount of Benefits .................................................................................................. 23

Part VII: Calculation of Retirement Benefits

Normal Retirement Benefit ......................................................................................................... 25

Early Retirement Benefit ............................................................................................................ 25

Late Retirement Benefit .............................................................................................................. 26

Disability Retirement Benefit ..................................................................................................... 27

Deferred Vested Retirement Benefit ........................................................................................... 28

(continued)

TABLE OF CONTENTS

Atlanta Plumbers and Steamfitters Pension Plan (Summary Plan Description) Page ii

Part VIII: Pre-Retirement Death Benefit

Pre-Retirement Death Benefit .................................................................................................... 30

Part IX: Post-Retirement Death Benefit

Post-Retirement Death Benefit ................................................................................................... 32

Part X: Suspension of Benefits

Suspension of Benefits ................................................................................................................ 33

Part XI: Other Questions

Is it Possible I Might Lose my Service For Benefit Purposes? .................................................. 35

Can I Lose Any of my Benefits From This Plan? ....................................................................... 35

What Happens if I Return to Work After I Retire and After my Benefit Payments Have Started? ............................................................................................................ 36

What Happens if I do not Name a Beneficiary? ......................................................................... 36

Can my Benefits be Affected by a Divorce or Family Dispute? ................................................. 36

What Happens if I Enter Military Service? ................................................................................ 37

Can I Expect to Receive Anything From Social Security? ......................................................... 38

Part XII: Miscellaneous Information

This Booklet is Only a Summary ................................................................................................ 39

The Trustees Interpret the Plan .................................................................................................. 39

The Plan May Be Changed ......................................................................................................... 39

Tax Exempt Status of Plan ......................................................................................................... 39

Non-Alienation of Benefits ......................................................................................................... 40

Offset of Benefits ........................................................................................................................ 40

Responsibility for Administration ............................................................................................... 40

Right of Trustees to Data ........................................................................................................... 40

Right to Terminate the Plan ....................................................................................................... 40

Retroactive Payment of Benefits................................................................................................. 41

Mandated Payment of Benefits After Age 70½ ........................................................................... 41

Beneficiary Designation ............................................................................................................. 41

(continued)

TABLE OF CONTENTS

Atlanta Plumbers and Steamfitters Pension Plan (Summary Plan Description) Page iii

Part XIII: Other Important Information

Your Rights Under the Employee Retirement Income Security Act Of 1974.............................. 42

Pension Benefit Guaranty Corporation ..................................................................................... 43

Additional Plan Information ...................................................................................................... 44

Annual Funding Notice .............................................................................................................. 47

Part XIV: Appendices

Appendix A (Variable Benefit Example) .................................................................................... 48

ATLANTA PLUMBERS AND STEAMFITTERS PENSION PLAN PART I

Atlanta Plumbers and Steamfitters Pension Plan (Summary Plan Description) Page 1

Introduction We are pleased to provide you with this updated booklet describing your current pension plan and the benefits to which you may be entitled at the time of your retirement. Also included are descriptions of the benefits for which you may be eligible should you become disabled before your retirement and the benefits which may be available to your Spouse or other beneficiary in the event of your death. In addition to describing the types of benefits which may become available to you, this booklet also outlines the manner in which you become eligible for these benefits, the procedures you must follow to apply for these benefits, and the steps you must take if your application for benefits is denied. Changes have been made to the Plan since the last booklet was printed and distributed to you. All of these changes are included in this booklet, and we would encourage you to review it in its entirety so that you can become familiar with the provisions of the Plan. We will make every effort to continue to administer your Plan in such a way that it can have the greatest benefit for you and your family in future years. After you have reviewed this booklet, please retain it for your future reference. Please do not hesitate to contact the Fund office with any questions you may have regarding this booklet or any other matters pertaining to your Plan. This booklet is intended to be a summary of the Plan’s provisions. The Plan is governed by the official Plan document. In the event of any conflict between this booklet and the official Plan document, the terms of the official Plan document will control. Best regards, Board of Trustees ATLANTA PLUMBERS AND STEAMFITTERS PENSION PLAN

ADMINISTRATIVE ITEMS PART II


Address Notification

BE SURE TO NOTIFY THE FUND OFFICE OF YOUR CURRENT ADDRESS Most information about your Plan and changes to it are sent to you by mail. To ensure that you receive this information, the Fund office must have your current address on file at all times. Included as an insert to this booklet are cards designed to give the Fund office your address and other information it needs about you. A card should be completed by you and mailed to the Fund office if you have not already filed one with the Fund office. Also, you should mail a card if your address, marital status or other information changes in the future. Additional cards will be furnished to you by the Fund office at your request so that you may notify the Fund office of any changes. Failure to keep the Fund office advised of any change in your address may jeopardize your eligibility for benefits because the Trustees will be unable to advise you of any changes in the Plan’s benefits. You may notify the Fund office of an address change or obtain a new enrollment card by writing to: Board of Trustees Atlanta Plumbers and Steamfitters Pension Plan c/o NEBA, Inc. 2010 N.W. 150th Avenue, Suite 100 Pembroke Pines, FL 33028 Plan Administration The Plan is administered by the Board of Trustees, and contract administration services are provided by: NEBA, Inc. 2010 N.W. 150th Avenue, Suite 100 Pembroke Pines, FL 33028 Phone: (954) 266-6322 Toll-Free: (800) 842-5899 Fax: (954) 266-2079



The Trustees of the Plan are:

Union Trustees Employer Trustees

Mr. Jeffery K. Housworth Atlanta Plumbers & Steamfitters Local No. 72 P.O. Box 17806 Atlanta, Georgia 30316 (UPS: 374 Maynard Terrace, SE, 30316)

Mr. Jon Sterling Maxair, Incorporated 814 Livingston Ct Marietta, Georgia 30067

Mr. Terry Newsome, Jr. Atlanta Plumbers & Steamfitters Local No. 72 P.O. Box 17806 Atlanta, Georgia 30316 (UPS: 374 Maynard Terrace, SE, 30316)

Mr. Gary P. Fowler Mechanical Contractors Association of Georgia 4500 Hugh Howell Road, Suite 250 Tucker, Georgia 30084-4709

Mr. Terry Sinyard 3208 Paddock Road Covington, Georgia 30014

Mr. John Helms W.B. Wallis & Company P.O. Box 847 (540 Kentucky Street) Scottdale, Georgia 30079

Mr. Steve Newsome Atlanta Plumbers & Steamfitters Local No. 72 P.O. Box 17806 Atlanta, Georgia 30316 (UPS: 374 Maynard Terrace, SE, 30316)

Mr. Grant Willis Willis Mechanical Incorporated 1850 Beaver Ridge Circle, Suite E Norcross, Georgia 30071

Mr. Greg Stephens Atlanta Plumbers & Steamfitters Local No. 72 P.O. Box 17806 Atlanta, Georgia 30316 (UPS: 374 Maynard Terrace, SE, 30316)

Mr. John McKenney McKenney’s, Inc. 1056 Moreland Industrial Blvd., SE Atlanta, Georgia 30316



How to Apply for Benefits When you make application for a benefit, please do the following: 1. You must complete an Application for Benefits form. This form must be completed regardless of

the type of benefit you are requesting. You can obtain an Application for Benefits form by contacting the Fund office.

2. You must furnish with your application for benefits a “proof of age” document which can consist

of any of the following: (a) Birth Certificate (b) Church Record of Baptism (c) Marriage Certificate (if age is shown) (d) Passport (e) Elementary School Record (f) Registration or Voting Record (if age is shown) (g) Armed Forces Discharge (h) Social Security Records (i) Civil Service Records (j) Photo Driver’s License 3. If you apply for a disability benefit you will also need a statement from the Social Security

Administration verifying your disability. 4. If applying for a death benefit, please submit a certified copy of the death certificate. 5. Your application and accompanying documents should be submitted to the Fund office. Any

information required from the Local Union will be requested by the Fund office. 6. You should submit your application at least three months in advance of your retirement. 7. All necessary forms may be obtained in the Fund office or the Local Union office. Once your eligibility for a benefit has been established by the Fund office, you will be furnished with certain information explaining the benefit options available under the Fund. You will then be required to choose a benefit option, as outlined in Part VI of this booklet, before payment of your benefits can commence. Please complete all forms fully and accurately and call the Fund office if you have any questions.



Claims Review and Appeal Procedure Rights of Review and Appeal * You must exhaust these claims and appeal procedures before filing a suit in federal court * If an application for benefits is denied or partly denied for any reason, you will be notified in writing and given an opportunity for a review of your claim by the Board of Trustees. The written denial will give (a) specific reason(s) for the denial, (b) a reference to the specific Plan provision(s) on which the denial is based, (c) a description of any additional material or information necessary to perfect the claim and the reason such material or information is needed, and (d) an explanation of the Plan’s Claims Review Procedure. The Fund office will notify you of a claim denial within 90 days after the date that the claim is received. If special circumstances require an extension of time for deciding a claim, the Fund office will notify you in writing within the 90 day period and will specify the date a decision on the claim will be made. Then, the Fund office will furnish any denial notice on the claim within 180 days after the date the claim was received. If your application is not processed within the time period outlined above, you may proceed to the review procedure stage, described below, as if the claim had been denied. Review Procedure 1. Within 60 days after you have been notified by the Fund office that an application submitted by

you has been denied, you or your personal representative may make a written request for review of the application to the Fund office.

2. You may request all pertinent documents relating to your application denial and you may submit

issues and comments in writing for review by the Trustees. 3. You should include in your written request all of the facts regarding the matter as well as the

reason(s) you feel the original decision was incorrect. The Fund office will assist you in gathering any pertinent information needed from Fund records to perfect the application.

4. You may elect to have the issue decided on the basis of a written appeal or you may appear before

the Trustees personally (or have a personal representative appear on your behalf). 5. If you elect a written appeal, all written statements, materials and other pertinent information will

be presented on your behalf. Scheduling of Hearing and Decision of Trustees 1. If you do not request a personal hearing, the Trustees will make a final decision on your appeal

and will notify you of the decision in writing. The notice will specify the reasons for any denial



of your appeal, including references to specific Plan provisions. The Trustees will make their decision on the appeal no later than the date of the first meeting of the Trustees following the date your request for review is received. However, if your request for review is not received more than 30 days before that meeting, the Trustees will make a decision no later than the date of the second meeting of the Trustees following the date your request for review is received.

2. If you request a personal hearing of your appeal, the Trustees will schedule that hearing, and will

review any facts and information submitted by you. The Trustees will make a final decision, and will notify you in writing, specifying the reasons for any denial of your appeal, including references to specific Plan provisions. The Trustees will generally make a decision by the date of the first meeting of the Trustees following the date your request is received. If your request is received not more than 30 days before that meeting, the decision may be issued as of the date of the second meeting of the Board of Trustees following the date of your request. However, a decision on your request must be made by the Trustees no later than the third meeting of the Trustees following the date of receipt of your request for a personal appeal.

3. You may, at your own expense, have representation at any stage of these review procedures. 4. Every effort will be made by the Trustees to interpret Plan provisions in a consistent and equitable

manner, and you will be given maximum opportunity to present your viewpoints regarding any application for benefits.

5. If your appeal is denied, you may file suit in federal court. Every Participant and Beneficiary will

be required to exhaust each and every step of these Claims Review and Appeals Procedures before he proceeds to litigation, and any attempt to circumvent these Claims Review and Appeals Procedures in any manner will be resisted by the Trustees.

DEFINITIONS PART III


Throughout this booklet, certain words and phrases are used to describe the benefits available under the Fund as well as the manner in which you may become eligible for benefits. These special words and phrases are capitalized. Whenever used in this booklet, these terms have the meaning indicated in this section. 1. Accrued Benefit - Your Accrued Benefit is the monthly amount, payable as an Annuity With

Three Years Certain commencing at your Normal Retirement Age (or later retirement age), determined as described in Part V.

2. Beneficiary - The individual(s) designated in accordance with the terms of the Plan by a

Participant at the time of his retirement to receive any post-retirement death benefits which may become payable. See also Beneficiary Designation in Part XII.

3. Break in Service - A Break in Service will occur at the end of any Plan Year during which a

Participant completes fewer than 501 Vesting Hours. However, if the Participant is absent on account of parental leave, as outlined below, or if he suffers a Disability, as that term is defined in this booklet, he will be granted Vesting Hours for the sole purpose of determining whether he has incurred a Break in Service, as follows:

Parental Leave: As used in this section, parental leave means a period of absence from employment with an

Employer because of a Participant’s pregnancy, the birth of the Participant’s child, the placement of a child with the Participant for adoption, or the Participant’s caring for a child for a period immediately following the child’s birth or placement for adoption. Proof of the above may be required by the Plan administrator.

The number of Vesting Hours granted for parental leave will be the number which would normally

have been calculated for such periods except for parental leave, or, if the Plan administrator is unable to determine the number of hours, eight Vesting Hours for each day of parental leave will be granted. No more than 501 Vesting Hours will be granted for any one period of parental leave. Such hours will be credited to the Plan Year in which the absence from employment began if credit is needed to prevent the Participant from incurring a Break in Service for that Plan Year. Otherwise, the hours will be credited to the next succeeding Plan Year.

Disability: If a Participant is not completing Hours of Service because he has a Disability, and he is not eligible

for a disability retirement benefit from this Plan, for the sole purpose of determining whether the Participant has incurred one or more Breaks in Service, he will be credited with 501 Vesting Hours for each Plan Year or portion of a Plan Year in the period beginning on the date that he began receiving disability benefits under the federal Social Security Act and ending on the earlier of the date (if any) that such payments cease or the date (if any) that the Participant becomes eligible for a pension benefit from this Plan.



4. Contribution – 1. For an Employee, a payment made or required to be made to the Fund in accordance with a

collective bargaining agreement or other written agreement with an Employer, except any payment that is required to be transferred to another pension fund under the terms of a written reciprocal agreement;

or

2. For a Reciprocal Employee, a payment transmitted to the Fund by another pension fund in

accordance with a written reciprocal agreement. 5. Credited Service – See Credited Service Accrual in Part IV. 6. Dependent Child - A child of a deceased Participant who: 1. Is unmarried, 2. Was dependent on the Participant for support before the Participant’s death, and 3. Is either (a) Under age 19, or (b) Under age 25 and a full time student in an institution of higher learning, or (c) Incapable of self-sustaining employment because of mental retardation or physical

handicap, at the time of the Participant’s death. 7. Disability - A physical or mental condition of a Participant that entitles him to disability benefits

under the federal Social Security Act, or results in a determination by the Veterans Administration that the Participant is 100 percent unemployable except a condition that:

1. Arose while the Participant was committing a felony or resulted from the Participant’s

having committed a felony; 2. Resulted from an intentionally self-inflicted injury; or 3. Resulted from service in the armed forces on or after January 1, 1974, if the Participant is

thereby prevented from becoming an Employee again and the Participant is entitled to a military pension therefore.



8. Employee - An individual on whose behalf an Employer makes or is required to make Contributions to the Fund, except (a) an individual who is the owner of a sole proprietorship or a partner in a partnership if such sole proprietorship or partnership is the Employer that would otherwise have the obligation to make contributions to the Fund on the individual’s behalf, or (b) an individual on whose behalf contributions received by the Fund are required to be transmitted to another pension fund in accordance with an applicable reciprocity agreement.

9. Employer - Any of the following that agrees to make Contributions to the Fund and that is bound

by the Trust Agreement establishing the Fund: 1. An employer that is bound to make contributions to the Fund under the terms of a collective

bargaining agreement; 2. The Union (with respect to its full-time salaried employees); and 3. The Joint Apprenticeship and Training Trust with respect only to its full-time salaried

employees hired before January 1, 2015. 10. Employment in the Trade - Performance of work by a Participant within the Union’s jurisdiction

for compensation or profit in the plumbing and pipefitting trade, as defined in the collective bargaining agreement by which he is covered or was covered when Contributions were received by the Fund on his behalf, to the extent that such employment by the Participant is (a) in an industry in which Employees are employed and accrue benefits under this Plan, and (b) in a trade or craft in which the Participant was employed at any time while accruing benefits under this Plan.

11. Fund - The Atlanta Plumbers and Steamfitters Pension Fund, which is held and administered by

the Trustees under the Trust Agreement and is the trust fund in which Contributions are held and from which Plan benefits and expenses are paid.

12. Future Credited Service - See Credited Service Accrual in Part IV. 13. Hour of Service - 1. Each hour for which a Participant is paid, or entitled to payment, for the performance of

duties for an Employer. 2. Each hour, up to 501 hours during a single, continuous period, for which the Participant is

paid, or entitled to payment, by an Employer for a period of time during which no duties are performed due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty, or leave of absence, but excluding any hour for which payment is made or due under a plan maintained solely for the purpose of complying with workers’ compensation, unemployment compensation, or disability insurance laws or for which payment is made or due solely as reimbursement for medical or medically- related expenses incurred by the Participant.



3. Each hour for which back pay, regardless of mitigation of damages, has been awarded or agreed to by an Employer to the extent that the award or agreement is intended to compensate the Participant for a period of time during which he would have been performing duties for the Employer; provided that the same Hours of Service will not be counted under paragraph 1. above and under this paragraph.

4. Each hour for which back pay, regardless of mitigation of damages, has been awarded or

agreed to by an Employer to the extent that the award or agreement is intended to compensate the Participant for a period of time during which he would have performed no duties as described in paragraph 2. above; provided that no more than 501 hours will be credited for any such single, continuous period, and the same Hours of Service will not be counted under paragraph 2. above and under this paragraph.

14. Hour Worked - Each hour during which an Employee performs services for an Employer for

which the Employer makes or is required to make a Contribution to the Fund on the Employee’s behalf, or each hour for which a Contribution is received by the Fund on a Reciprocal Employee’s behalf in accordance with an applicable reciprocity agreement.

15. Military Hour - With respect to a Participant who becomes an Employee again on or after

December 12, 1994, hours granted for service in the armed forces of the United States if the Participant was an Employee when he entered such service and if the Participant becomes an Employee again within the period of time required by the Uniformed Services Employment and Reemployment Rights Act of 1994. The number of hours credited will be calculated in accordance with applicable federal guidelines.

16. Normal Retirement Age - The Participant’s age on his sixty-fifth birthday. 17. Normal Retirement Date - The first day of the month coinciding with or immediately following

the Participant’s sixty-fifth birthday. 18. Participant - The rules for becoming and remaining a Participant are explained in Part IV. 19. Past Credited Service - See Credited Service Accrual in Part IV. 20. Plan – The Atlanta Plumbers and Steamfitters Pension Plan. 21. Plan Year - A Plan Year is the same as a calendar year. 22. Post-Retirement Employment - 1. With respect to a Participant who has attained his Normal Retirement Age, employment of

the Participant by an Employer for no more than 600 Hours Worked in a Plan Year, and 2. With respect to a Participant who:



(a) Is receiving an early retirement benefit which began on or after the later of January 1, 1999 or his 58th birthday,

(b) Has completed at least 35 years of Credited Service before his benefit commencement

date, and (c) Has not been engaged in Employment in the Trade for a period of at least 30 days from

the date he last ceased Employment in the Trade, any employment of the Participant by an Employer. 23. Reciprocal Employee - An individual on whose behalf contributions are made to another fund

that has a reciprocity agreement with this Fund under which those contributions are transferred to this Fund.

24. Spouse - The Participant’s legal spouse as determined under the laws of the state in which the

Participant and his spouse are married. 25. Trust Agreement - Agreement and Declaration of Trust of the Atlanta Plumbers and Steamfitters

Pension Fund, as amended from time to time. 26. Trustees - The persons designated to act as Trustees under the Trust Agreement and any successor

Trustees designated in the manner provided therein. 27. Union - United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting

Industry of the United States and Canada, AFL-CIO, Local Union No. 72 of Atlanta, Georgia. 28. Vesting Hour - Any of the following hours completed by a Participant: 1. An Hour of Service completed while the Participant was an Employee; 2. A Military Hour; 3. An Hour of Service for an Employer completed while the Participant was not an Employee

if: (a) Immediately preceding such employment, the Participant was an Employee of such

Employer; or (b) Immediately following such employment, the Participant became an Employee of such

Employer; or 4. An Hour Worked completed while the Participant was a Reciprocal Employee. 29. Vesting Service – See Vesting Service in Part IV.

PARTICIPATION, SERVICE ACCRUAL AND VESTING PART IV


Commencement of Participation 1. New Employee. An individual will become a Participant as of the date he becomes an Employee. 2. New Reciprocal Employee. An individual who becomes a Reciprocal Employee and who is not a

Participant as of the date the individual becomes a Reciprocal Employee will become a Participant as of the date he becomes a Reciprocal Employee.

3. Former Participant. A former Participant will again become a Participant as of the earlier of (i)

the date he again becomes an Employee or Reciprocal Employee or (ii) the date as of which his Vesting Service and Credited Service are restored as explained further in this Part IV.

Termination of Participation A Participant will cease being a Participant as follows: 1. Vested Participant. In the case of a Participant who has a nonforfeitable right to his Accrued

Benefit, as explained under Vesting in Part IV, the earlier of the Participant’s date of death or the date as of which the Participant’s entire Accrued Benefit has been distributed.

2. Non-Vested Participant. In the case of a Participant who does not have at least a partial

nonforfeitable right to his Accrued Benefit, the date the Participant incurs a Break in Service or, if later in the case of a Participant who has completed at least five years of Credited Service, including at least one-half year of Future Credited Service, the date the Participant ceases being an Employee. However, a Participant who becomes eligible for a disability retirement benefit will be a Participant until his date of death.

Credited Service Accrual Years of Credited Service are used in calculating the benefits payable to you under the Plan (See Calculation of Accrued Benefit in Part V). Years of Credited Service should not be confused with years of Vesting Service (see Vesting Service later in this Part IV). Vesting Service is used to figure your entitlement to a retirement benefit, and Credited Service is used to calculate the amount of your benefit. Your years of Credited Service are calculated as follows: Past Credited Service A Participant who completes at least one-half year of Future Credited Service before January 1, 1979 will be granted Past Credited Service as follows: 1. Service Before 1973. The Participant will be granted one year of Past Credited Service for each

calendar year, or fraction of a year, before January 1, 1973, in which: (a) He was a member of the Union during a continuous period beginning on the latest day on

which he became a member of the Union; or



(b) He was engaged in employment covered by the terms of a collective bargaining agreement

with the Union. 2. Reduction for Governmental Service. Any Past Credited Service granted above will be reduced

by one-half year for each calendar year, or fraction of a year, before January 1, 1973, in which the Participant was employed full- time by any governmental agency.

Future Credited Service A Participant will be granted Future Credited Service based on his Hours Worked and Military Hours during any Plan Year beginning on and after January 1, 1973, as provided in the following table:

Hours Worked and Military Hours

During Plan Year

Years of Future Credited

Service for Plan Year 1,200 or more 900 or more but less than 1,200 600 or more but less than 900 300 or more but less than 600 Less than 300

1.00 .75 .50 .25 .00

Limits on Credited Service 1. Maximum Credited Service. In the case of a Participant who does not complete at least one-half

year of Credited Service on or after January 1, 1992, or whose benefit commencement date precedes January 1, 1993, the Participant will not be granted more than 25 years of Credited Service before January 1, 1981.

2. No Duplication. In no circumstance will a Participant be granted more than one year of Past

Credited Service during any calendar year or more than one year of Future Credited Service during any Plan Year.

Service Credit For Non-covered Employment Normally, in order to be credited with service under the Plan, it is necessary that you work in accordance with the collective bargaining agreement establishing the Plan and have contributions made to the Fund by your Employer. However, the Plan provides for crediting of service for certain other classifications of employment, but only for purposes of determining your eligibility to participate under the Plan and whether you are vested for a particular benefit. This employment is called “Non-covered Employment”. Basically, Non-covered Employment must be performed immediately preceding or immediately following employment for which the same Employer made contributions to the Fund on your behalf.



Should you change job classifications with the same Employer, you should immediately notify the Fund office to determine if you may be working in Non-covered Employment. Vesting Service On the previous pages we explained how to earn Credited Service, which is used to calculate the amount of your benefit due from the Plan. Credited Service should not be confused with Vesting Service, which is used to determine whether you are eligible for a benefit from the Plan. When you become “vested,” you have earned a nonforfeitable right to receive a benefit from the Plan upon attaining your Early or Normal Retirement Age. A Participant will be granted one year of Vesting Service for each of the years described below: 1. Before 1976. Each year (or fraction of a year) of Credited Service that the Participant completed

before January 1, 1976. 2. 1976 and Later. Each Plan Year beginning on or after January 1, 1976 during which the Participant

completes at least 1,000 Vesting Hours. Vesting 1. Prior Plan. In the event a Participant had a partial or complete nonforfeitable right to his Accrued

Benefit on January 1, 1976, under the Plan as in effect on December 31, 1975, (that is, if he was fully or partially “vested”), the Participant will continue to have the nonforfeitable right to his Accrued Benefit.

2. Vesting Schedule. A Participant will become 100% vested with a nonforfeitable right to his

Accrued Benefit (will become “vested”) as provided below: (a) A Participant will become 100% vested as of the last day of the Plan Year during which he

completes five years of Vesting Service. (For those Participants on whose behalf contributions are made to the Fund under the terms of a collective bargaining agreement, if the Participant does not accrue at least one Hour of Service on or after January 1, 1999, 10 years of Vesting Service are required in order to become vested.)

(b) Each Participant will become 100% vested upon attaining his sixty-fifth birthday. Loss of Credited Service and Vesting Service A Participant who does not have a nonforfeitable right to his Accrued Benefit, as outlined under Vesting above, will forfeit his accrued Credited Service and Vesting Service on the date he incurs a Break in Service.



Restoration of Credited Service and Vesting Service If a Participant completes one year of Vesting Service after forfeiting his Credited Service and Vesting Service as explained above, his Credited Service and Vesting Service will be restored as of the date he completes the year of Vesting Service, but only in the event he incurred a number of consecutive Breaks in Service less than the greater of (i) five or (ii) the number of years of Vesting Service that he forfeited. .

TYPES OF BENEFITS AND CALCULATION OF ACCRUED BENEFIT PART V


Types of Benefits There are eight types of benefits for which you, or your surviving Spouse or Beneficiary, may become eligible under the Plan. Each of them is described in more detail on the following pages. They are: 1. Normal Retirement Benefit 2. Early Retirement Benefit 3. Late Retirement Benefit 4. Disability Retirement Benefit 5. Deferred Vested Retirement Benefit 6. Pro Rata/Partial Pension 7. Pre-Retirement Death Benefit 8. Post-Retirement Death Benefit The amount of each of the above benefits is dependent upon the amount of your “Accrued Benefit,” which is detailed in the following section. Calculation of Accrued Benefit For all Participants who complete at least one-half of a year of Future Credited Service after January 31, 1979, your Accrued Benefit as of any date of determination (before adjustment for time of payment commencement or form of payment selected) will be calculated based on your Credited Service earned through December 31, 2005 and the Employer Contributions required on your behalf after December 31, 2005 and through the date of determination. Your total Accrued Benefit will be equal to the sum of (1) through (5), as follows: (1) For Service Through December 31, 2005 Your monthly Accrued Benefit for Credited Service earned through December 31, 2005 is

calculated by multiplying the benefit rate indicated below by the number of years of Credited Service applicable to that rate. For the Plan Year beginning January 1, 2005, the benefit rate for a Participant who was employed as an apprentice or a tradesman is different from the benefit rate for a Participant who was not employed as an apprentice or a tradesman. The applicable benefit rates are as follows:



Plan Year of Credited Service

Journeyman Benefit Rate

Apprentice and Tradesman Benefit Rate

Before 1980 $17.00 $17.00 1980 $24.50 $24.50 1981 $29.00 $29.00 1982 $35.00 $35.00

1983 through 1984 $40.00 $40.00 1985 through 1986 $55.00 $55.00

1987 $60.00 $60.00 1988 through 1989 $75.00 $75.00 1990 through 1992 $90.00 $90.00

1993 $100.00 $100.00 1994 through 1996 $102.50 $102.50 1997 through 1998 $105.00 $105.00 1999 through 2004 $108.00 $108.00

2005 $108.00 $75.40 (2) For Service During the Period From January 1, 2006 Through March 31, 2010 Your Accrued Benefit for Credited Service earned during the period January 1, 2006 through

March 31, 2010 will be equal to 2.56% of the Contributions due on your behalf (including credit for Military Hours) for that period, but not to exceed a total Accrued Benefit of $112.00 for any Plan Year. However, you must complete at least 300 Hours Worked or Military Hours in a Plan Year in order to accrue a benefit for that year.

(3) For Service Earned as a Journeyman During the Period From April 1, 2010 Through

December 31, 2013 Your Accrued Benefit for Credited Service earned during the period from April 1, 2010 through

December 31, 2013 while you are classified as a journeyman pursuant to the terms of a Collective Bargaining Agreement will be equal to 2.56% of the Contributions due on your behalf (including credit for Military Hours) for that period, subject to a maximum Contribution rate of $2.65 per hour worked, and not to exceed a total Accrued Benefit of $112.00 for any Plan Year. However, you must complete at least 300 Hours Worked or Military Hours in a Plan Year in order to accrue a benefit for that year.

(4) For Service Earned as an Apprentice or Tradesman During the Period From April 1, 2010

Through December 31, 2013 Your Accrued Benefit for Credited Service earned during the period from April 1, 2010 through

December 31, 2013 while you are classified as an apprentice or tradesman pursuant to the terms of a Collective Bargaining Agreement will be equal to 2.56% of the Contributions due on your



behalf (including credit for Military Hours) for that period, subject to a maximum Contribution rate of $1.85 per hour worked, and not to exceed a total Accrued Benefit of $112.00 for any Plan Year. However, you must complete at least 300 Hours Worked or Military Hours in a Plan Year in order to accrue a benefit for that year.

(5) For Service Earned on or After January 1, 2014 The portion of your Accrued Benefit for Credited Service earned on or after January 1, 2014 is

called your Variable Benefit and is calculated by (a) determining an Earned Variable Amount for each Plan Year in which you have 300 or more Hours Worked or Military Hours, (b) converting that Earned Variable Amount into Variable Benefit Units for such Plan Year, and then (c) multiplying your Variable Benefit Units for all Plan Years accumulated at the time of your retirement by a Unit Value in effect at the time of determination. Your Variable Benefit will also include any Earned Variable Amount which has not yet been converted into Variable Benefit Units.

Your Earned Variable Amount for a Plan Year (before conversion into Variable Benefit Units for

that Plan Year) will be a monthly benefit (limited to $90.00) for that Plan Year equal to 2.00% of the Employer Contributions required to be made on your behalf during that Plan Year, provided that:

• If Contributions are made on your behalf as a journeyman, only Contributions up to $2.65 per hour are included for benefit purposes.

• If Contributions are made on your behalf as an apprentice or tradesman, only Contributions up to $1.85 per hour are included for benefit purposes.

Below is a summary of the calculation of your total Accrued Benefit. A detailed explanation of how your Variable Benefit portion is determined is included in Appendix A at the end of this booklet, along with an example illustrating calculation of a Variable Benefit and Accrued Benefit for a Participant retiring in 2018. Summary of Calculation of Accrued Benefit Your Accrued Benefit is the sum of items (1) through (5), summarized briefly below. (1) Accruals through 12/31/2005 = benefit rate for each Plan Year (see preceding table of benefit

rates) × Credited Service earned in the Plan Year + (2) Accruals 1/1/2006 through 3/31/2010 = 2.56% × Contributions for the Plan Year to a

maximum of $112 each year + (3) Accruals 4/1/2010 through 12/31/2013 for Journeymen = 2.56% × Contributions up to a

maximum of $2.65 / hour for the Plan Year to a maximum of $112 each year + (4) Accruals 4/1/2010 through 12/31/2013 for Apprentices = 2.56% × Contributions up to a

maximum of $1.85 / hour for the Plan Year to a maximum of $112 each year + (5) Accruals on and after 1/1/2014 = your Variable Benefit



Adjustments to Accrued Benefit The amount of your total Accrued Benefit will be adjusted to account for any early retirement or retirement after your Normal Retirement Date, and for the form of benefit payment selected, as explained on the following pages.

HOW YOUR RETIREMENT BENEFITS ARE PAID PART VI


Automatic Forms of Benefit Payment Annuity with Three Years Certain For Unmarried Participants If you are not married when you retire and you have not elected an optional form of benefit payment, your benefit will automatically be paid in the Annuity with Three Years Certain form. This form provides for a monthly benefit payable to you for the remainder of your lifetime. If your death should occur before you have received 36 monthly payments, your benefit will be continued to your Beneficiary or Beneficiaries until the total monthly payments made to you and your Beneficiaries combined equal 36. Joint and 50% Survivor Annuity For Married Participants If you are married when you retire and you have not elected, with the written consent of your Spouse, to receive your monthly benefit in an optional form, benefits will automatically be paid in the Joint and 50% Survivor Annuity form. This form provides for the payment of a reduced monthly benefit to you for your remaining lifetime with 50% of such reduced benefit payable to your Spouse upon your death, if your Spouse survives you, for the remainder of your Spouse’s lifetime. The amount payable will be the actuarial equivalent of the Annuity with Three Years Certain form, based on the respective ages of you and your Spouse at the time benefit payments begin. The Trustees will furnish to you at least 30 days before the date on which your retirement benefits as described above are scheduled to begin, but no more than 90 days before such date, a written explanation of this Joint and 50% Survivor Annuity form of payment and the difference in the amount of retirement income payable under such form of payment as compared to the optional forms outlined on the following pages. Generally, following receipt of this notice, you will have until the date upon which your retirement benefits are scheduled to begin to elect, with the written consent of your Spouse, to waive the Joint and 50% Survivor Annuity in favor of an optional form, or to revoke such an election. You may make and revoke your election any number of times within the election period provided that your spouse must provide written consent to any subsequent election. Any such election must be witnessed by a Plan representative or a notary public and must acknowledge the specific form of benefit and/or alternate Beneficiary. The election period may be reduced, with your consent, provided you are given a minimum election period of at least seven days. Optional Forms of Benefit Payment If you become eligible to receive a normal, early, late, disability or deferred vested retirement benefit, you may elect certain optional forms of benefit in place of the automatic form described above. However, if you are married at the time your benefits commence, the written consent of your Spouse will be required in order to elect certain optional forms of payment. All of the optional forms of benefit payment will be explained to you more fully at the time of your retirement, as will the amount of monthly benefit payable under each of these forms. The optional forms are as follows:



Annuity with Three Years Certain Under this option, a married Participant may elect to receive an unreduced monthly benefit for his lifetime, with the provision that if his death should occur before 36 monthly benefit payments have been paid, the same unreduced monthly benefit will be continued to his Beneficiary until a total of 36 payments have been made to the Participant and Beneficiary combined. Annuity with Ten Years Certain Under this option, a Participant may elect to receive a reduced monthly benefit for his lifetime, with the provision that if his death should occur before 120 monthly benefit payments have been paid, the same reduced monthly benefit will be continued to his Beneficiary until a total of 120 monthly payments have been paid to the Participant and Beneficiary combined. The monthly benefit will be reduced from the benefit otherwise payable, based on the age of the Participant at the time benefits commence, and will be the actuarial equivalent of the Annuity with Three Years Certain form. Under this option, the Participant may also choose at the time benefits commence that, should a benefit become due to his Beneficiary under this form of payment, such benefits will be paid in a lump sum to the Beneficiary. In such case, the lump sum will be the actuarial equivalent of the total monthly benefits otherwise payable to the Beneficiary. Social Security Certain Option Under this option, a Participant who retires before age 62 and begins receiving an early retirement benefit may elect to receive his benefit in the Annuity with Three Years Certain form as follows: (a) with regard to the portion of his Accrued Benefit attributable to the period before January 1,

2014, payments to the Participant will be paid in a greater monthly amount until he attains age 62, after which a reduced monthly amount will be payable. The monthly amounts will be determined so that the combined monthly amount of the Participant’s early retirement benefit and his Social Security retirement benefits will remain as level as possible throughout his lifetime. Upon the Participant’s death, the amount payable to the Participant’s Beneficiary, if any, under the Three Years Certain guarantee for any particular month will be equal to the amount the deceased Participant would have received for that month if he had survived, and

(b) with regard to the portion of his Accrued Benefit attributable to the period after December

31, 2013, payments to the Participant will be paid solely in the Annuity with Three Years Certain form of benefit payment.



Social Security Survivor Option Under this option, a married Participant who retires before age 62 and begins receiving an early retirement benefit may elect to receive his benefit in the Joint and Survivor Annuity form as follows: (a) with regard to the portion of his Accrued Benefit attributable to the period before January 1,

2014, payments to the Participant will be paid in greater monthly amount until he attains age 62, at which time a reduced monthly amount will be payable. The monthly amounts will be determined so that the total monthly amount of the Participant’s early retirement benefit and his Social Security retirement benefits will remain as level as possible throughout his lifetime. Upon the Participant’s death, the amount payable to the surviving Spouse, will equal 50%, 75% or 100% (as elected by the Participant and Spouse) of the monthly amount that the Participant would have received for any particular month if he had survived. This survivor benefit will be paid to the Participant’s Spouse for the remainder of the Spouse’s lifetime, and

(b) with regard to the portion of his Accrued Benefit attributable to the period after December

31, 2013, payments to the Participant will be paid solely in the Joint and Survivor form of benefit payment, with the percentage continuation to the surviving Spouse the same as the percentage elected for the portion of his Accrued Benefit attributable to the period before January 1, 2014.

Joint and 75% Survivor Annuity Under this option, a married Participant may elect to receive a reduced monthly benefit for his lifetime, with 75% of such reduced benefit payable to his surviving Spouse upon his death, for the remainder of the Spouse’s lifetime. The amount payable will be the actuarial equivalent of the Annuity with Three Years Certain form, based on the respective ages of the Participant and his Spouse at the time benefit payments begin. Joint and 100% Survivor Annuity Under this option, a married Participant may elect to receive a reduced monthly benefit for his lifetime, with the same monthly benefit payable to his surviving Spouse upon his death, for the remainder of the Spouse’s lifetime. The amount payable will be the actuarial equivalent of the Annuity with Three Years Certain form, based on the respective ages of the Participant and his Spouse at the time benefit payments begin. Joint and Survivor Annuity with Pop-Up Feature Under this option, a married Participant may elect to receive a reduced monthly benefit for his lifetime, with one-half of such reduced benefit payable to his surviving Spouse upon his death, for the remainder of the Spouse’s lifetime. The amount payable will be the actuarial equivalent of the Annuity with Three Years Certain form based on the respective ages of the Participant and Spouse at the time benefit payments begin. However, if the Spouse pre-deceases the Participant, the continuing amount payable to



the Participant will be increased to the amount which would have been payable had the Participant elected an Annuity with Three Years Certain form of benefit payment. This Pop-Up Feature may also be selected in connection with a Joint and 75% Survivor Annuity or a Joint and 100% Survivor Annuity. Notification Regarding Forms of Benefit Payment and Effect on Timing and Amount of Benefits When you are ready to retire, whether you are single or married, a written notice will be provided to you explaining: (a) the terms and conditions of the Joint and 50% Survivor Annuity (if you are married) or the

Annuity with Three Years Certain (if you are single), (b) your right to make, and the effect of, an election to waive the Joint and 50% Survivor

Annuity or Annuity with Three Years Certain, if applicable, (c) the rights of your Spouse to consent to elections made by you, (d) the right to make, and the effect of, a revocation of an election to waive the Joint and 50%

Survivor Annuity or Annuity with Three Years Certain, if applicable, (e) the relative values of the various optional forms of benefits under the Plan, including the

difference in the amount of benefit payable under the Joint and 50% Survivor Annuity form of payment as compared to the amount otherwise payable, and

(f) the effect of the election of a retroactive annuity starting date, if applicable, and (g) your right, if any, to defer receipt of a distribution, including a description of the

consequences of failing to defer such receipt. Generally, this notice will be provided during the period beginning no more than 90 days before, and ending no less than 30 days before, the date determined under the Plan provisions that your benefits are to commence (referred to as your “annuity starting date”). If such notice is provided before, but less than 30 days before, your annuity starting date (for instance, in the case of short notice by you that you wish to retire), you (and your Spouse, if married) may make an affirmative election to waive the 30 day requirement, although actual distribution cannot begin earlier than the eighth day after you have received such notice. If for any reason this notice is not provided to you before your annuity starting date, then an additional annuity starting date will be established for you which is after (but not more than 90 days after) the date that the notice is provided. You may then elect, with spousal consent (if applicable), either to have benefits commence on this later annuity starting date, or to have benefits commence on the earlier annuity starting date (which, if elected, will then be referred to as a “retroactive annuity starting date”). If a retroactive annuity starting date is applicable, then you may elect to have your benefits either: (1) determined as of the later annuity starting date with benefits commencing as of the later

annuity starting date, or (2) determined as of the earlier retroactive annuity starting date with benefits commencing as of

this earlier date. If you elect a retroactive annuity starting date, then you will be entitled to retroactive payments, with interest.



Note that, although an annuity starting date may not be more than 90 days after the date that the notice is provided to you, administrative delay may result in the actual distribution of benefits commencing more than 90 days after the notification date.

CALCULATION OF RETIREMENT BENEFITS PART VII


Normal Retirement Benefit Eligibility If you are a Participant under the provisions of the Plan, you will be eligible to retire and receive a normal retirement benefit provided: 1. You have, at the time you retire, reached your Normal Retirement Age (your sixty-fifth (65th)

birthday); and 2. You have ceased all Employment in the Trade except for Post-Retirement Employment as

explained in Part III of this booklet. Amount of Benefit Your monthly normal retirement benefit will be equal to your Accrued Benefit, as explained in Parts III and V of this booklet, adjusted to reflect your selection of the form of benefit payment you will receive, as explained further in the “Forms of Benefit Payment” sections of this booklet (see Part VI). If you delay retirement until after your Normal Retirement Date, the amount of your benefit will be actuarially increased accordingly. When Payments Begin The effective date of your normal retirement benefit (your Normal Retirement Date) will be the first day of the month coincident with or next following your 65th birthday, provided you have timely submitted your application for benefits on forms furnished by the Fund office, along with any personal data required. If you do not apply for benefits upon first becoming eligible for a normal retirement benefit, you may request that the effective date of your benefits will precede the date of receipt of your application by as much as six months. However, no benefits will become retroactively effective before the date on which you qualified for the benefit. Early Retirement Benefit Eligibility If you are a Participant under the provisions of the Plan, you will be eligible to retire and receive an early retirement benefit provided you cease Employment in the Trade before attaining age 65, and after you have satisfied both of the following provisions: 1. You have been credited with at least ten years of Credited Service or Vesting Service, including

at least one-half year of Future Credited Service; and 2. You have attained at least age 55.



Amount of Benefit Your monthly early retirement benefit will be calculated in the same manner as a normal retirement benefit and will not be reduced for early retirement if you have: 1. Attained age 62; or 2. Attained age 58 and been credited with at least 35 years of Credited Service. Note: If provision 2. above is satisfied by your first attaining age 58 and completing 35 years of Credited

Service after April 1, 2013 then you must not engage in Employment in the Trade for a period of one hundred eighty (180) days from the date you first ceased Employment in the Trade. If you do again commence Employment in the Trade during the 180 day period, then you will be ineligible for early retirement and your benefit payments will immediately cease. Upon your subsequent cessation of Employment in the Trade, you will not be permitted to use provision 2. again, and your subsequent benefits will be offset by any benefit payments you previously received.

Otherwise, your monthly benefit will be reduced by five-twelfths of one percent for each month by which your age precedes age 62. Your benefit will be further adjusted to reflect your selection of the form of benefit payment you will receive, as explained further in the “Forms of Benefit Payment” sections of this booklet (see Part VI). When Payments Begin The effective date of your early retirement benefit will be the first day of the month following the date on which you have both satisfied the eligibility requirements for an early retirement benefit and submitted your application on forms furnished by the Fund office, along with any personal data required. If you do not apply for benefits upon first becoming eligible for an early retirement benefit, you may request that the effective date of your benefits will precede the date of receipt of your application by as much as six months. However, no benefit will become retroactively effective before the date on which you qualified for the benefit. Late Retirement Benefit Eligibility If you are a Participant under the provisions of the Plan and reach your Normal Retirement Age but continue to work until after your Normal Retirement Date, then you will be eligible to retire and receive a late retirement benefit once you have ceased all Employment in the Trade except for Post-Retirement Employment.



Amount of Benefit Your monthly late retirement benefit will be calculated as for normal retirement, but portions of your Accrued Benefit will be actuarially increased to reflect that benefit payments are commencing after your Normal Retirement Date. This benefit will also be adjusted to reflect your selection of the form of benefit payment you will receive, as explained further in the “Forms of Benefit Payment” sections of this booklet (see Part VI). When Payments Begin The effective date of your late retirement benefit will be the first day of the month coincident with or next following the date you have timely submitted your application for benefits on forms furnished by the Fund office, along with any personal data required. You may request that the effective date of your benefits will precede the date of receipt of your application by as much as six months. However, no benefits will become retroactively effective before the date on which you qualified for the benefit. Disability Retirement Benefit Eligibility If you are a Participant who incurs a Disability, as that term is explained in Part III of this booklet, you will be eligible to receive a disability retirement benefit provided you are not eligible for an early retirement benefit and you satisfy both 1. and 2. below: 1. You have completed at least five years of Credited Service or Vesting Service, including at least

one-half of a year of Future Credited Service; and 2. You have satisfied one of the following conditions: (a) You earned, during the 12 consecutive month period immediately preceding the effective

date of your Disability, at least 300 hours of Vesting Service; or (b) You have been on the Union’s out of work list for at least the three consecutive month period

immediately preceding the effective date of your Disability; or (c) You worked for a participating Employer in a position not covered by a collective bargaining

agreement for the six consecutive month period immediately preceding the effective date of your Disability.

Amount of Benefit Your monthly disability retirement benefit will be calculated in the same manner as a normal retirement benefit, adjusted to reflect the form of benefit payment you will receive, as explained further in the “Forms of Benefit Payment” sections of this booklet (see PartVI).



When Payments Begin The effective date of your disability retirement benefit will be the first day of the month falling on or after the date your Disability begins, as determined by the Social Security Administration or the Veterans Administration, as applicable, and following the date on which you have both satisfied the eligibility requirements for a disability retirement benefit, and submitted your application on forms furnished by the Fund office, along with any personal data required. You should apply for your disability retirement benefit as soon as possible after becoming Disabled, rather than waiting for your award of Social Security disability benefits or Veterans disability benefits. This is due to the fact that those awards are sometimes delayed for several months. Even though the effective date of your disability retirement benefit will generally go back to the effective date of your Social Security or Veterans disability benefits, the maximum period that retroactive benefits will be paid will be six months before the date of your application. Deferred Vested Retirement Benefit Eligibility If you are a Participant who ceases Employment in the Trade (see Part III) after becoming vested for your Accrued Benefit, you will be eligible to receive a deferred vested retirement benefit provided you are not eligible to receive a normal or early retirement benefit or a disability retirement benefit when your Employment in the Trade ceases. Amount of Benefit If your benefit commences on your Normal Retirement Date, your monthly deferred vested retirement benefit will be calculated in the same manner as a normal retirement benefit. (A few Participants attained only partial vesting under the Plan in effect before 1976. In the event of partial vesting, only the portion of your Accrued Benefit for which you are vested will be used to calculate your benefit.) If you delay retirement until after your Normal Retirement Date, the amount of your benefit will be actuarially increased. If your benefits commence before reaching age 65, your monthly benefit will be reduced by five-twelfths of one percent for each month by which your benefit commencement date precedes your Normal Retirement Date provided you fall into one of the following categories: 1. You did not complete at least one Hour of Service on or after January 1, 1986, or 2. You completed at least one Hour of Service on or after January 1, 1986, but you have not yet

attained age 62. If you have not attained age 62 but you completed at least one Hour of Service on or after August 1, 1990, your monthly benefit will be reduced by five-twelfths of one percent for each month by which your age precedes age 62. Your benefit will not be reduced if you completed at least one Hour of Service



on or after January 1, 1999 and have attained age 58 and been credited with at least 35 years of Credited Service. Your benefit will be adjusted to reflect the form of benefit payment you will receive, as explained further in the “Forms of Benefit Payment” sections of this booklet (see Part VI). When Payments Begin The effective date of your deferred vested retirement benefit will be the first day of the month following the date on which you have both satisfied the eligibility requirements for a deferred vested retirement benefit and submitted your application on forms furnished by the Fund office, along with any personal data required. However, if you do not apply for benefits upon first becoming eligible for a deferred vested retirement benefit, you may request that the effective date of your benefits will precede the date of receipt of your application by as much as six months. However, no benefit will become retroactively effective before the date on which you qualified for the benefit. Pro Rata / Partial Pension Reciprocal Employees who satisfy the requirements for a pro rata/partial pension under the terms of the Optional Addendum for Pro Rata/Partial Pensions to the United Association Pension Fund Reciprocal Agreement will be eligible for a pro rata/partial pension in accordance with the terms of that Addendum.

PRE-RETIREMENT DEATH BENEFIT PART VIII


Pre-Retirement Death Benefit Eligibility If you are a Participant and you die before retirement, one of the following pre-retirement death benefits will be payable, as indicated: 1. Death During Employment A pre-retirement death benefit will be payable to your surviving Spouse or if no Spouse survives

you, then to your Dependent Child or Children, provided: (a) You have completed at least five years of Vesting Service and at least one-half year of Future

Credited Service as of the date of your death; and (b) Your death occurs – (1) While you are an Employee; or (2) During a Plan Year in which you are credited with at least one Hour Worked or one

Military Hour, or during the Plan Year immediately following a Plan Year in which you were credited with at least one Hour Worked or one Military Hour; or

(3) While you are on the Union’s out-of-work list or while you are receiving loss of time

benefits from the Atlanta Plumbers and Steamfitters Health and Welfare Fund; or (4) Within one year from the date that you became eligible for a disability retirement

benefit even if your death occurs after such benefits begin, unless you have waived the Joint and 50% Survivor Annuity or Annuity with Three Years Certain form of payment, as applicable.

If the benefit is payable to your surviving Spouse under this provision, it will be paid in the form

of a monthly benefit equal to one-half of your Accrued Benefit, payable for the remainder of your surviving Spouse’s lifetime. If the benefit is payable to your Dependent Child or Children, the benefit will be paid in the form of a monthly payment or payments until each Dependent Child no longer meets the definition of “Dependent Child” as explained in Part III of this booklet. The amount of the monthly benefit will be equal to one-half of your Accrued Benefit divided by the number of Dependent Children eligible to receive a pension for each month, payable until none of your children meet the definition of Dependent Child.

2. Death with Non-Forfeitable Benefits A pre-retirement surviving Spouse benefit will be payable if you had attained a nonforfeitable right

to your Accrued Benefit, as explained in the “Vesting” section of this booklet (see Part IV), and

PRE-RETIREMENT DEATH BENEFIT PART VIII


your death occurred before you began receiving any benefits under the Fund, provided no benefit is payable under 1. above.

However, if your Spouse qualifies for a benefit under the preceding paragraph, and you had been

determined to be eligible for a disability retirement benefit and had applied for such benefit as of the date of your death, the benefit determined under this section will not be payable. Instead, your Spouse will be eligible for the benefit described under 1. above.

The benefit payable to your surviving Spouse under this provision (without regard to the foregoing

paragraph) will be paid in the form of a monthly benefit, payable for the remainder of your Spouse’s lifetime, and equal to the survivor’s portion of a Joint and 50% Survivor Annuity (see Part VI), payable as follows:

(a) If you had become eligible to receive an early or normal retirement benefit as of the date of

your death, your surviving Spouse will be eligible to receive a benefit as of the first day of the month following the date of your death, and based on the benefit which you would have been eligible to receive as of the date of your death.

(b) If you had not yet become eligible to receive an early or normal retirement benefit as of the

date of your death, your surviving Spouse will become eligible to receive a benefit beginning on the earliest date on which you would have become eligible to receive a retirement benefit had you not died and assuming you earned no further Credited Service or Vesting Service.

Amount of Benefit The amount of your surviving Spouse’s monthly pre-retirement death benefit will be calculated as explained above, based on the total Credited Service accrued by you as of the date of your death, and based on the benefit which would have been payable to you in the Annuity with Three Years Certain form of payment (see Part VI). When Payments Begin The effective date of your surviving Spouse’s pre-retirement death benefit will be the first day of the month following the date on which your Spouse has both completed the eligibility requirements for a pre-retirement death benefit and submitted an application on forms furnished by the Fund office, along with any personal data and proof of death required. However, if your Spouse does not apply for benefits upon first becoming eligible for a pre-retirement death benefit, your Spouse may request that the effective date of her benefits will precede the date of receipt of her application by as much as six months. However, no benefit will become retroactively effective before the date on which your Spouse has qualified for the benefit.

POST-RETIREMENT DEATH BENEFIT PART IX


Post-Retirement Death Benefit Any death benefits which are payable due to your death after you begin receiving benefits are determined by the form of payment in which you elect to receive your retirement benefits. Survivor Annuity If you die after commencement of your normal, early, late, disability or deferred vested retirement benefit, you were married on the date those benefits began, and you did not waive the automatic Joint and 50% Survivor Annuity form of payment or you chose an optional Joint and Survivor Annuity, the Social Security Survivor Option or the Joint and Survivor Annuity with Pop-Up Feature, your Spouse will be eligible to receive a survivor annuity following your death. This benefit will be payable only if no pre-retirement death benefit is payable under the section entitled “Death During Employment” as described on the previous pages. Three Years Certain Your Beneficiary or Beneficiaries will be eligible for a benefit if you had retired and begun receiving your benefits in the Annuity with Three Years Certain form or the Social Security Certain option form and your death occurred before you received thirty-six monthly payments. The total number of monthly payments made to you and your Beneficiaries combined will be limited to 36. Ten Years Certain Your Beneficiary or Beneficiaries will be eligible for a benefit if you had retired and begun receiving your benefits in the Annuity with Ten Years Certain form, and your death occurred before you received 120 monthly payments. The total number of monthly payments made to you and your Beneficiaries combined will be limited to 120. The benefit forms discussed above are described more fully in Part VI of this booklet.

SUSPENSION OF BENEFITS PART X


Suspension of Benefits Under certain circumstances, a retired Participant’s benefits will be suspended upon becoming re-employed. The suspension rules are outlined below: Information Required From Participant 1. A Participant who is receiving a pension must notify the Fund office of any employment. 2. The Fund office may request that any Participant receiving a pension either certify that he is

unemployed or provide information to the Fund office concerning any employment. If the Participant fails to respond to that request, his pension will be suspended until the first day of the month following the date on which that information is furnished. Once the required information is furnished, the Participant will receive any monthly pension payments suspended during that period except as described in the following paragraphs.

3. A Participant whose pension is suspended must notify the Fund office in writing as soon as possible

when he has ceased Employment in the Trade other than Post-Retirement Employment, or when he plans to cease such employment.

Suspension of Monthly Benefits If the Fund office determines that a Participant who is receiving a pension has returned to Employment in the Trade, other than Post-Retirement Employment as defined in Part III, his pension will be suspended for any month in which he engages in such employment, as follows: 1. If a Participant returns to Employment in the Trade for an employer other than an Employer

contributing to this Plan, his benefits will be suspended for each month in which he is so employed. 2. If a Participant returns to work for an Employer contributing to this Plan, benefits will also be

suspended, except benefits will not be suspended for any month that is Post-Retirement Employment (for example, for a Participant working over age 65, benefits in a Plan Year will not be suspended until he has more than 600 Hours Worked in such Plan Year).

Note: Benefits will not be suspended once a Participant has reached his required beginning date (see

Mandated Payment Of Benefits After Age 70½ in Part XII). The following table illustrates how these suspension rules would affect a retired Participant receiving benefits after age 65 (even if he retired before age 65) but who has returned to work for an Employer contributing to the Plan. As shown in the table, benefits being received after age 65 will not be suspended for any month in a Plan Year until the Participant has more than 600 Hours Worked during such Plan Year.

SUSPENSION OF BENEFITS PART X


Work Month

Hours Worked

Are Benefits Suspended?

January 150 No February 150 No March 150 No April 150 No (600 Hours Worked at this point) May 35 Yes June 45 Yes July 35 Yes August 50 Yes September 150 Yes October 40 Yes November 50 Yes December 39 Yes

Resumption of Pension If a Participant’s benefit is being suspended, his benefit payments will resume by the first day of the third calendar month following the month in which the Participant once again ceases Employment in the Trade other than Post-Retirement Employment or, if later, the month in which the Participant notifies the Fund office that he has ceased such employment. At that time, the Participant will receive any monthly payments due for months following the month in which he ceased Employment in the Trade. However, the Participant’s pension will be offset by any pension payments that he received for months during which his benefits should have been suspended but were not. The Participant’s pension will resume in the same form as it was being paid before suspension, except the monthly amount of his pension will be actuarially increased to account for any month for which his pension benefits were suspended after his Normal Retirement Date. Additionally, each Participant whose benefit is suspended shall have his benefit increased to account for any Credited Service earned by the Participant during his period of reemployment.

OTHER QUESTIONS PART XI


Is it Possible I Might Lose my Service For Benefit Purposes? Yes. If you are not vested in your Accrued Benefit when you incur a Break in Service, you will lose your Credited Service and Vesting Service (See Loss of Credited Service and Vesting Service in Part IV). However, if you again complete a year of Vesting Service before you incur five consecutive Breaks in Service, all of your prior Credited Service and Vesting Service will be restored (See Restoration of Credited Service and Vesting Service in Part IV). Can I Lose Any of my Benefits From This Plan? Your Plan is a valuable tool for planning for your retirement years. As you work for contributing Employers, you continue to build service for vesting and for calculating your monthly benefit. Obviously, the longer you work for contributing Employers, the greater your monthly benefit will become. Although you may intend to continue your covered employment until your normal retirement date, there may be a time when your personal situation will prevent you from carrying out your intentions. The following are some of the circumstances which could cause you to lose or forfeit your benefits under this Plan: 1. If you incur a Break in Service before you are vested in your retirement benefits, you will cease to

be a Participant in the Plan as explained in Termination of Participation in Part IV. In order to again become a Participant, you will need to re-satisfy the participation requirements.

2. If you incur a Break in Service, you will lose your total Credited Service and Vesting Service

unless you meet certain requirements as explained under the preceding Is it Possible I Might Lose my Service For Benefit Purposes? in this Part XI.

3. If your service is terminated (voluntarily or involuntarily) before you have five years of Vesting

Service, then you will not have a vested retirement benefit. 4. If you incur a Disability but do not have five years of Credited Service or Vesting Service,

including at least one-half of a year of Future Credited Service, then you will not be eligible for a disability benefit.

5. Even if you have at least five years of Credited Service or Vesting Service, including at least one-

half of a year of Future Credited Service, you will not be eligible for a disability benefit unless you satisfy at least one of the following three conditions: (i) you earned, during the 12 consecutive month period immediately preceding the effective date of your Disability, at least 300 hours of Vesting Service; or (ii) you have been on the Union’s out of work list for at least the three consecutive month period immediately preceding the effective date of your Disability; or (iii) you worked for a participating Employer in a position not covered by a collective bargaining agreement for the six consecutive month period immediately preceding the effective date of your Disability.



6. If you work for an employer not signatory to the collective bargaining agreement with the Union or an employer not authorized by the Board of Trustees to make payments into the Fund, you will not be given any Credited Service or Vesting Service for this work and may incur a Break in Service. If that occurs, you may lose your Credited Service and Vesting Service as described in Is it Possible I Might Lose my Service For Benefit Purposes? in this Part XI.

7. If you fail to supply the necessary written information as required by the Trustees or make a false

statement material to your claim. 8. Election of payment of benefits in the form of an Annuity with Three Years Certain, an Annuity

with Ten Years Certain, or a Social Security Certain Option will prevent payments from continuing after your death to your Spouse for your Spouse’s lifetime (although payment may continue until the expiration of any certain period).

9. If you work less than 1,200 hours during a Plan Year, you will not receive a full year of Credited

Service for that Plan Year. 10. If you work less than 1,000 hours during a Plan Year, you may not receive any Vesting Service

for that Plan Year. 11. If you complete less than 300 Hours Worked or Military Hours during a Plan Year, you will not

accrue a benefit for that year. 12. Failure to file an application for a benefit will prevent that benefit from being paid until the

application is filed. In no event will a pension be payable for any month more than six months before the first day of the month in which the Participant’s or Beneficiary’s application for that pension is received by the Trustees.

What Happens if I Return to Work After I Retire and After my Benefit Payments Have Started? See Part X regarding how benefits may be suspended during your reemployment, how your benefits may resume, and how your benefit may be increased. What Happens if I do not Name a Beneficiary? In order to insure that any death benefits from the Plan will be properly paid, you need to notify the Fund office of the name of your Beneficiary. See Beneficiary Designation in Part XII. If you do not name a Beneficiary, the Trustees will pay any death benefits to your estate. Can my Benefits be Affected by a Divorce or Family Dispute? Laws affecting employee benefits require plans such as this one to obey certain court orders (such as divorce decrees) that require some or all of your benefits to be paid to your Spouse, former Spouse, child or dependent. The Trustees will abide by a court order that they determine to be a “qualified domestic relations order.” Any such order should be submitted to the Trustees for their review.



If you are eligible for early retirement, these laws also authorize the payment of such court-ordered benefits to begin while you're still working. The amount of any such payments will be based on the benefit you have already earned on the date they are to begin. These payments can exhaust your entire interest in the Plan, including future benefits. You also may have taxable income as a result. This Fund will honor the provisions of a qualified domestic relations order submitted to the Fund office before the distribution of all of your pension benefits. A qualified domestic relations order is a domestic relations order issued by a court of competent jurisdiction which pertains to the division of pension benefits under the Fund, and which meets certain other requirements as outlined in applicable federal law. The Trustees have adopted procedures to determine whether a domestic relations order is a qualified domestic relations order. You should understand that the Trustees have no choice but to obey a domestic relations order they find to be qualified under the law. The Plan must make every effort to notify you as soon as it becomes aware of any attempt to subject your benefits to court order. If you would like to have more detailed information on this subject, please contact the Fund office to obtain, without charge, a copy of the procedures governing qualified domestic relations order determinations. What Happens if I Enter Military Service? Your rights under the Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”) and the Heroes Earnings Assistance and Relief Tax Act of 2008 (“HEART Act”) are conditioned on your complying with the law as it exists from time to time and we urge that all Participants who enter military service, whether active duty, reserve duty, National Guard duty or otherwise, confirm that they have complied with all legal requirements in effect when they are absent from covered employment because of such service, including notice requirements and requirements that they return to covered employment within the required time limits after leaving military service. If you leave covered employment because you are called up for military service and are then re-employed by a contributing Employer, you will be entitled to credit under the Plan for the period of such service (generally limited to five years) in accordance with USERRA and the HEART Act. To protect your rights, you should inform the Trustees of your military service and return to covered employment within the time prescribed by law, as follows:

• you return to covered employment no later than seven days after your termination of active duty of less than 31 days, or

• you apply in writing for covered employment within 14 days after your termination of active duty of 31 to 181 days, or

• you apply in writing for covered employment within 90 days after your termination of active duty of more than 181 days.



The above periods of seven days, 14 days, or 90 days may be extended by up to two years if

necessitated by hospitalization or convalescence resulting from uniformed service. If you would like to have more detailed information on this subject, including applicable notice requirements, please contact the Fund office. Can I Expect to Receive Anything From Social Security? You may receive benefits from Social Security in addition to the benefit you will get from this Plan. Social Security benefits may be payable in the event of your death or disability as well as retirement. These benefits have become a substantial part of your total benefit program. You should contact the Social Security Administration for assistance in determining the amount which may be payable to you under the Social Security Act.

MISCELLANEOUS INFORMATION PART XII


This Booklet is Only a Summary Although this booklet contains a great deal of information about your Plan, it is not the purpose of this booklet to cover every detail or every situation that might arise under your pension Plan. However, there is a complete set of rules and regulations which govern the operation and administration of this Plan. These rules and regulations are set forth in a legal document. So that you have all the details readily available, a copy of the Plan document will be made available for your examination at the Fund office or a copy of it will be reproduced for you at your request for a reasonable charge. The rules and regulations set forth in the pension Plan are final and binding. Nothing in this booklet is meant to interpret or extend or change in any way the provisions expressed in the Plan itself. If there is any difference between the Plan and the summary in this booklet, the Plan will govern. The Trustees Interpret the Plan Any interpretation of the Plan’s provisions rests with the Board of Trustees. However, the Board of Trustees has authorized the Fund office staff to handle routine requests from Participants regarding eligibility, benefits and application procedures. But, if there are questions involving interpretation of any Plan provisions, the Fund office staff will secure from the Board of Trustees a final determination for you. No person other than a Trustee or a member of the Fund office staff, acting with the consent of the full Board of Trustees, may provide interpretations of Plan provisions. The Plan May Be Changed The Trustees are endowed with the authority to change the Plan, subject to any collective bargaining agreement that applies to it. The Trustees may amend the Plan from time to time. Tax Exempt Status of Plan This Plan is classified by the Internal Revenue Service as a 401(a) trust. This means that the contributions made to the trust by your Employers are not taxable to you, your Employer or the Fund. Earnings on investments made by the Plan are tax exempt as well. Further, you will not pay any taxes on the contributions made on your behalf until such time as you actually begin to receive a retirement benefit from the Fund. The Trustees are well aware of these advantages and will take whatever steps are necessary to maintain your Plan as a tax exempt trust under the Internal Revenue Code.



Non-Alienation of Benefits Benefits payable under this Plan are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution, or levy of any kind, either voluntary or involuntary, with the following exceptions only: 1. This provision does not apply to any federal tax levy or the collection of a judgment by the United

States of an unpaid tax assessment; 2. This provision does not apply to any Qualified Domestic Relations Order as defined in the Internal

Revenue Code; and 3. This provision does not apply to the right of the Trustees to offset benefits as described below. Offset of Benefits In the event a Participant or Beneficiary owes any amount to the Fund, whether as a result of an overpayment or otherwise, the Trustees may offset the amount owed or any percentage thereof in any manner against any payments due from the Fund to the Participant or Beneficiary. Responsibility for Administration The Plan is administered solely by the Trustees and employees or agents of the Trustees, acting for them as authorized, and the majority decisions of the Trustees in all matters pertaining to the administration of the Plan are final. The Trustees may make such rules and prescribe such procedures for the administration of the Plan as they deem necessary and reasonable. Right of Trustees to Data The Trustees have the right to require, as a condition for the payment of any benefit under the Plan, all information which they reasonably deem necessary, including, but not limited to, records of employment, proof of dates of birth and death, and proof of marital status, and no benefit dependent in any way upon such information will be payable unless and until the information is furnished. Such evidence will be furnished by the Union, Employers, and former, disabled, active, inactive or retired Participants, or persons claiming under or through them. Right to Terminate the Plan The Trustees reserve the right to terminate this Plan upon termination of the Trust Agreement establishing it or in the event that all Employers cease to have an obligation to make Contributions to the Fund. In the event the Plan is terminated, the Trustees will use the remaining assets to pay all the obligations of the Plan, including expenses of the Plan, arrange for a final audit, give any notices and file any reports which may be required by law and distribute the remaining assets among Participants and Beneficiaries



of the Plan in accordance with federal laws and regulations. Under no circumstances will any of the assets be paid to any contributing Employer. Retroactive Payment of Benefits In no event will a pension be payable to a Participant or Beneficiary of a deceased Participant for any month more than six months before the first day of the month in which the Participant’s or Beneficiary’s application for that pension is received by the Trustees. Mandated Payment Of Benefits After Age 70½ Federal law requires the Trustees to start paying your benefits from the Plan no later than the April 1st following the calendar year during which you have both reached 70½ and retired. This date is known as your “required beginning date”. Payments will begin even if you have not filed an application for benefits. However, if you are a Plan Participant who also owns more than 5% of a business that is contributing to the Plan, then your benefit payments must start no later than the April 1st following the calendar year during which you have reached age 70½, even if you have not retired and have not filed an application for benefits. It is your responsibility to make application for your benefit with the Fund office. Your failure to make application before the date described above will result in a tax penalty in addition to the payment of normal income taxes. We would suggest that you contact a competent tax consultant for additional information about this requirement. Beneficiary Designation This Fund provides certain benefits in the event of the death of a Participant who meets the requirements for those benefits. Each Participant may designate a primary beneficiary or beneficiaries and a contingent beneficiary or beneficiaries to receive any such benefits. The designation must be made on a form furnished by the Trustees and will not be effective until filed with the Trustees. The benefits generally payable to your beneficiary will be the post-retirement death benefit payable under the Three Years Certain or the Ten Years Certain forms as explained in Part VI. If you have designated your Spouse as your beneficiary for these benefits and have later divorced your Spouse, that beneficiary designation will be void, unless you file a new beneficiary form naming your former Spouse as your beneficiary. You may use one of the cards found in the rear of this booklet to designate a beneficiary to receive these benefits. If no beneficiary survives you, any remaining benefit will be paid to your estate.

OTHER IMPORTANT INFORMATION PART XIII


You most likely have heard about ERISA. ERISA stands for the Employee Retirement Income Security Act which was signed into law in 1974. This federal law establishes certain minimum standards for the operation of employee benefit plans including the Atlanta Plumbers and Steamfitters Pension Plan. The Trustees of your Plan, in consultation with their professional advisors, have reviewed these standards carefully and have taken whatever steps are necessary to assure full compliance with ERISA. ERISA requires that Plan participants and beneficiaries be provided with certain information about their benefits, how they may qualify for benefits, and the procedure to follow when filing an application for benefits. This information is presented to you in this booklet. ERISA also requires that participants and beneficiaries be furnished with certain information about the operation of the Plan and about their rights under the Plan. This information follows: Your Rights Under the Employee Retirement Income Security Act of 1974 As a Participant in the Atlanta Plumbers and Steamfitters Pension Plan, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Plan participants shall be entitled to: Receive Information About Your Plan And Benefits Examine, without charge, at the Plan administrator’s office and at other specified locations, such

as worksites and union halls, all documents governing the Plan, including collective bargaining agreements, and a copy of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.

Obtain, upon written request to the Plan administrator, copies of documents governing the

operation of the Plan, including collective bargaining agreements, and copies of the latest annual report (Form 5500 Series) and updated summary plan description. The administrator may make a reasonable charge for the copies.

Obtain a statement telling you whether you have a right to receive a pension at normal retirement

age (age 65) and if so, what your benefits would be at normal retirement age if you stop working under the Plan now. If you do not have a right to a pension, the statement will tell you how many more years you have to work to get a right to a pension. This statement must be requested in writing and is not required to be given more than once every 12 months. The Plan must provide the statement free of charge.

Prudent Actions by Plan Fiduciaries In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are

responsible for the operation of the employee benefit plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer, your union, or any other



person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a pension benefit or exercising your rights under ERISA.

Enforce Your Rights If your claim for a pension benefit is denied or ignored, in whole or in part, you have a right to

know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules.

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request

a copy of Plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Plan administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the administrator.

If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit

in a state or federal court. In addition, if you disagree with the Plan’s decision or lack thereof concerning the qualified status of a domestic relations order, you may file suit in a federal court. If it should happen that Plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If you are successful the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous.

Assistance With Your Questions If you have any questions about your Plan, you should contact the Plan administrator. If you have

any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

Pension Benefit Guaranty Corporation Your pension benefits under this multiemployer plan are insured by the Pension Benefit Guaranty Corporation (PBGC), a federal insurance agency. A multiemployer plan is a collectively bargained pension arrangement involving two or more unrelated employers, usually in a common industry. Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans that are insolvent. A multiemployer plan is considered insolvent if the plan is unable to pay benefits (at least equal to the PBGC’s guaranteed benefit limit) when due.



The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer program, the PBGC guarantee equals a participant’s years of service multiplied by (1) 100% of the first $11 of the monthly benefit accrual rate and (2) 75% of the next $33. The PBGC’s maximum guarantee limit is $35.75 per month times a participant’s years of service. For example, the maximum annual guarantee for a retiree with 30 years of service would be $12,870. The PBGC guarantee generally covers (1) normal and early retirement benefits; (2) disability benefits if you become disabled before the plan becomes insolvent; and (3) certain benefits for your survivors. The PBGC guarantee generally does not cover: (1) benefits greater than the maximum guaranteed amount set by law; (2) benefit increases and new benefits based on plan provisions that have been in place for fewer than 5 years at the earlier of: (i) the date the plan terminates or (ii) the time the plan becomes insolvent; (3) benefits that are not vested because you have not worked long enough; (4) benefits for which you have not met all of the requirements at the time the plan becomes insolvent; and (5) non-pension benefits, such as health insurance, life insurance, certain death benefits, vacation pay and severance pay. For more information about the PBGC and the benefits it guarantees, ask your Plan administrator or contact the PBGC’s Technical Assistance Division, 1200 K Street, N.W., Suite 930, Washington, D.C. 20005-4026 or call 202-326-4000 (not a toll-free number). TTY/TDD users may call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 202-326-4000. Additional information about the PBGC’s pension insurance program is available through the PBGC’s website on the internet at http://www.pbgc.gov. Additional Plan Information Type of Plan This Plan is designed to provide you with income when you retire. It is called a defined benefit pension plan. Benefits are actually paid from a checking account established by the Trustees for that purpose. “Defined benefit” means that a specific benefit amount will be payable to you, assuming you qualify, based upon your years of service accumulated under the Plan. Name and Address of the Plan Administrator as Defined by ERISA Your Plan is maintained and administered by a Board of Trustees on which labor and management are equally represented. A list of all the Trustees as of the date this booklet was prepared is contained in the front of this booklet. This Board has the primary responsibility for decisions regarding eligibility rules, types of benefits, administrative policies, management of Plan assets, and interpretation of Plan provisions.

http://www.pbgc.gov



Type of Administration Although the Trustees are legally designated as the Plan administrator, they have delegated the performance of the day-to-day administrative duties to a professional administrative manager, NEBA, Inc. The Fund office staff, maintained by NEBA, Inc. keeps the eligibility records, accounts for employer contributions, processes applications, informs Participants of Plan changes and performs other routine administrative functions in accordance with Trustee decisions. Collective Bargaining Agreement This Plan was established and is maintained under the terms of a collective bargaining agreement negotiated by and between Plumbers and Steamfitters Local Union No. 72 and certain contributing Employers. The collective bargaining agreement obligates the employers who sign the agreement, or otherwise become bound to it, to contribute a fixed hourly rate to the Plan for each hour worked by you under the terms of that collective bargaining agreement. You may examine the agreement at the Fund office or other specified locations upon written request. You may also have a copy of the agreement reproduced for a reasonable charge. Plan Sponsor The Board of Trustees is the Plan sponsor. The Board of Trustees consists of an equal number of Employer and Union representatives selected by the Union and the Employers that have entered into collective bargaining agreements that relate to the Fund. The names and addresses of the current members of the Board of Trustees are listed in Part II of this booklet. If you wish to contact the Board of Trustees, you may use the address and telephone number listed below: Board of Trustees Atlanta Plumbers and Steamfitters Pension Plan c/o NEBA, Inc. 2010 N.W. 150th Avenue, Suite 100 Pembroke Pines, FL 33028 Phone: (954) 266-6322 Toll-Free: (800) 842-5899 Fax: (954) 266-2079 Participants and beneficiaries may receive from the Fund office, upon written request, information as to whether a particular Employer or Union has entered into a collective bargaining agreement that relates to the Fund and is therefore a sponsor of the Fund and, if the particular Employer or Union is a sponsor, the Employer’s or Union’s address.



Source of Contributions The primary source of financing for the benefits provided under the Plan and the expense of Fund operations is Employer contributions. The hourly rate of the contribution is spelled out in the collective bargaining agreement negotiated by the Union with participating Employers. No money is ever deducted from your paycheck to pay for Plan benefits. Plan assets are invested and this also produces additional Fund income. This Fund is evaluated periodically by an actuary to assure that the relationship between Fund income and benefit costs meets the funding standards set forth by ERISA. Funding Medium for the Accumulation of Plan Assets All contributions and investment earnings are accumulated in a trust fund maintained by the Trustees. Retirement benefits are paid directly from this trust. Plan assets are invested to earn additional income and are reviewed according to written guidelines and objectives adopted by the Trustees. Agent For Service of Legal Process Every effort will be made by the Trustees to resolve any disagreements with Participants promptly and equitably. It is recognized, however, that on occasion, some Participants may feel that it is necessary for them to take legal action. Be advised that the following has been designated by the Board of Trustees as their agent for service of legal process: Mr. Jeffrey D. Gordon Parker, Hudson, Rainer & Dobbs, LLP 303 Peachtree St. NE, Suite 3600 Atlanta, Georgia 30308 Legal papers may also be served on the Board of Trustees collectively or individually as well as the Fund office staff. Plan Identification Numbers When filing various reports with the Department of Labor and the Internal Revenue Service, certain numbers are used to properly identify the Atlanta Plumbers and Steamfitters Pension Plan including: Employer Identification Number (EIN) assigned by the Internal Revenue Service: 58-1233396 Plan Number assigned by the Plan sponsor: 001



Fiscal Year The accounting records of the Plan are kept on the basis of a fiscal year which ends on December 31. Annual Funding Notice You are entitled to receive each year, a notice explaining the extent to which benefits that are required to be paid under the Plan are funded. U:\PLUMB72\RET\PlanDocs\SPD\2016 SPD\2016spdv1-12.09.2016.docx

APPENDICES PART XIV


APPENDIX A

Variable Benefit Example The following is a detailed explanation of how your Variable Benefit portion is determined, and is then followed by a numerical example illustrating the calculation of a Variable Benefit for two assumed Participants and the resulting Accrued Benefit for one of those Participants retiring in 2018. Calculation of Variable Benefit

• Your Earned Variable Amount for each Plan Year in which you have 300 or more Hours Worked or Military Hours = • For journeymen = 2.00% × Contributions up to a maximum of $2.65 / hour for the

Plan Year to a maximum of $90 each Plan Year • For apprentices = 2.00% × Contributions up to a maximum of $1.85 / hour for the Plan

Year to a maximum of $90 each Plan Year

• Your Variable Benefit Units earned in each Plan Year = • Your Earned Variable Amount for the Plan Year divided by • Unit Value as of the December 31 in the year the Earned Variable Amount was accrued

• Your Variable Benefit = • Your accumulated Variable Benefit Units since January 1, 2014 × Unit Value at the

time of determination + • Earned Variable Amounts not yet converted into Variable Benefit Units

Determination of Unit Value

• Determined each Plan Year as of December 31 = • Preceding Plan Year Unit Value × Factor

• Factor = • Market value of assets of the Fund on December 31 of the Plan Year for which the

Unit Value is being determined, divided by • Assumed market value of assets of the Fund on December 31 of the Plan Year for

which the Unit Value is being determined reflecting actual contributions, benefits and operating expenses for such Plan Year • Assuming contributions for such Plan Year were received July 1 • Assuming benefits and operating expenses for such Plan Year were paid July 1 • Assuming a 7.00% investment return for such Plan Year

The December 31, 2013 Unit Value = $1.0000 (set at $1.0000 so that the Unit Value at December

31, 2014 will be based solely on asset experience during 2014 and not reflect asset experience before January 1, 2014).

APPENDICES PART XIV


Note: Because the Unit Value as of December 31 will not be determined until July 1 of the following year, the benefit payable to a Participant who retires during the first six months of a Plan Year will require a benefit adjustment as of July 1 of that year. The benefit adjustment may increase or decrease the benefit payable to a Participant.

Example This example is shown on the following pages and illustrates the calculation of a Variable Benefit for the period January 1, 2014 through December 31, 2017 for two Participants: Journeyman A is assumed to be working 2,000 hours each year with an Employer Contribution

rate of $3.90 per hour, and Apprentice B is assumed to be working 2,000 hours each year with an Employer Contribution rate

of $2.44 per hour. Based on the Variable Benefit for Journeyman A detailed on the following pages, and assuming his monthly Accrued Benefit as of December 31, 2013 is $1,800.00, the amount of his total Accrued Benefit is then determined as of an assumed Normal Retirement Date of April 1, 2018. Certain assumptions have also been made regarding Plan assets (beginning asset value, contributions, benefit payments, operating expenses and investment return) during this period, although determination of the Unit Value as of December 31, 2014 is based on actual experience. It is important for you to understand that if the hours you work in a Plan Year, or the hourly Employer Contribution rate required on your behalf, or Plan assets are different than those in the example, then the monthly benefit that you earn will be different.

APPENDICES PART XIV


2014 Plan Year

Actual Value Assumed Valuea. 12/31/2013 Market Value $263,535,355 $263,535,355b. 2014 Contributions $14,324,994 $14,324,994c. 2014 Benefits $15,767,758 $15,767,758d. 2014 Operating Expenses $561,485 $561,485e. 2014 Investment Return $12,760,194 $18,377,326f. 12/31/2014 Market Value = (a+b-c-d+e) $274,291,300 $279,908,432

g. Average Assets for Investment 2014 $262,533,231 $262,533,231 = {a + 50% x (b-c-d)}

h. 2014 Investment Return 4.9% 7.0%

i. 2014 Factor = (Actual Value / Assumed Value) $274,291,300$279,908,432

j. Unit Value 12/31/2013 $1.0000k. Unit Value 12/31/2014

= (Unit Value 12/31/2013 x 2014 Factor) $1.0000 x 0.9799= $0.9799

= 0.9799


Journeyman A Apprentice B2014 Earned Variable AmountHours 2,000 2,000 Contribution Rate $3.90 $2.44Total Contributions $7,800.00 $4,880.00Contributions to $2.65/$1.85 $5,300.00 $3,700.00Benefit Percentage 2.00% 2.00%Accrual before Maximum $106.00 $74.00Earned Variable Amount $90.00 $74.00

Unit Value 12/31/2014 $0.9799 $0.9799

2014 Variable Benefit Units 91.846 75.51812/31/2013 Variable Benefit Units 0.000 0.00012/31/2014 Variable Benefit Units 91.846 75.518

Variable Benefit12/31/2014 Variable Benefit Units 91.846 75.518Unit Value 12/31/2014 $0.9799 $0.979912/31/2014 Variable Benefit $90.00 $74.00

Determination of Variable Benefit Units

APPENDICES PART XIV


2015 Plan Year








= 0.9530


Unit Value 12/31/2015 $0.9338 $0.9338




APPENDICES PART XIV


2016 Plan Year

Actual Value Assumed Valuea. 12/31/2015 Market Value $276,853,132 $276,853,132b. 2016 Contributions $16,000,000 $16,000,000c. 2016 Benefits $18,000,000 $18,000,000d. 2016 Operating Expenses $625,000 $625,000e. 2016 Investment Return -$3,000,000 $19,287,844f. 12/31/2016 Market Value = (a+b-c-d+e) $271,228,132 $293,515,977


h. 2016 Investment Return -1.1% 7.0%





= 0.9241


Unit Value 12/31/2016 $0.8629 $0.8629




APPENDICES PART XIV


2017 Plan Year








= 1.0734


Unit Value 12/31/2017 $0.9262 $0.9262




APPENDICES PART XIV


Now, assume that Journeyman A, whose Variable Benefit was calculated in the preceding pages and whose monthly Accrued Benefit as of December 31, 2013 is assumed to be $1,800.00, retires on his Normal Retirement Date of April 1, 2018 with his benefit to commence on that date. Because the Unit Value for 2017 will not be determined until sometime in 2018, the amount of his benefit that he will receive beginning April 1, 2018 will change July 1, 2018 (increase or decrease), depending upon the final determination of the Unit Value for 2017. • Journeyman A’s Accrued Benefit to December 31, 2013 = $1,800.00 • January 1, 2018 to March 31, 2018 Journeyman A has 500 hours of service

• Contributions = 500 hours × $3.90 = $1,950.00 • Contributions for benefits = 500 hours × $2.65 = $1,325.00 • Earned Variable Amount for 2018 = smaller of (2.00% × $1,325.00 or $90.00) = $26.50

• Journeyman A’s April 1, 2018 benefit is the sum of the following:

• 12/31/2013 benefit = $1,800.00 • 12/31/2016 Variable Benefit (292.525 units × $0.8629 Unit Value) = $252.42 • 2017 Earned Variable Amount = $90.00 • 2018 Earned Variable Amount = $26.50 • Total April 1, 2018 Benefit = $2,168.92

• Journeyman A’s benefit July 1, 2018 and thereafter

• 12/31/2013 Benefit = $1,800.00 • 12/31/2017 Variable Benefit (389.696 units × $0.9262 Unit Value) = $360.94 • 2018 Earned Variable Amount = $26.50 • Total April 1, 2018 Benefit = $2,187.44

• Effective July 1, 2018 Journeyman A’s benefit will increase from $2,168.92 to $2,187.44 • Remember

• The above assumes Journeyman A retired on his Normal Retirement Date • Both the April 1, 2018 and July 1, 2018 benefits must be adjusted for early retirement and

optional form of payment elected • Both the April 1, 2018 and July 1, 2018 calculations will be based on the ages of the

Participant and joint pensioner as of April 1, 2018

Documents

ATLANTA PLUMBERS AND STEAMFITTERS PENSION PLAN€¦ · (h) Social Security Records (i) Civil Service Records (j) Photo Driver’s License 3. If you apply for a d isability benefit