Participating employers make contributions to the plan for each hour of District Council #82’s jurisdiction. The amount is determined under an agreement with District Council #82.

Your Individual Account in this Plan is funded by the following contributions:

• • Employer Contributions: Your employer contributes a certain dollar amount for each hour you work. The amount of hourly contribution is specified in your collective bargaining agreement, participation agreement, or other written agreement with the Trustees of the Plan.
  
  
• The contributions from your employer are placed into your Individual Account, which may consist of up to the following three sub-accounts:
  • o Account P: This sub-account will be credited with all employer contributions made on behalf of the Participant into this Plan.
  • o Account R: This sub-account will reflect all rollovers received into this Plan on behalf of a Participant.
  • o Account M: This sub-account applies to those participants who previously participated in the Minneapolis Local 386 Drywall Finishing Industry Pension Fund or the Minnesota Glaziers and Allied Trades Retirement Fund prior to the merger of those retirement plans into this Plan and will reflect the contributions received by those Participants in those retirement plans prior to the merger into this Plan.

You will become a vested Participant if you work 1,000 or more hours for which contributions are due to the Plan in the twenty-four (24) consecutive month period following your first day of work for any contributing employer.

Once you become a vested Participant, an individual account will be established for you at Milliman, the Fund Recordkeeper.

You are not required or permitted to make salary reduction contributions to the plan. You can, however, make rollover contributions as explained below.

To change your investment allocation you will need to contact Milliman, the Fund Recordkeeper, either by phone at (866) 767-1212 or online.

You are eligible for payment of your Accounts upon:

• • You reach age 55 and retire from employment with a contributing employer;
• • You become totally and permanently disabled as evidenced by a written certification from a physician acceptable to the Trustees.
• • You sever employment with an Employer for the period of at least twelve (12) consecutive months, provided that at the time of the receipt of a distribution of your Account Balance, you have not then, and for the previous twelve (12) consecutive months, have not been employed by or own an interest in, a corporation, partnership or other entity which is, (1) within the geographic jurisdiction of the Union, and (2) is engaged in any craft within the jurisdiction of any Union collective bargaining agreement;
• • You are a five-percent (5%) owner and attain age 70 ½; or
• • You die, including a death incurred while performing military service under IRS Code §414(u).

For further information, please refer to your Summary Plan Description or contact the Fund Office.

To apply for a withdrawal, you will need to complete an Application for Benefits. Please complete the form and mail along with any noted documentation to the Fund Office.

In certain circumstances you can request a hardship distribution from your Account P. To be eligible for a hardship distribution, you must experience a financial hardship which is defined as an immediate and heavy financial need to pay for one of the following:

• • Expenses in excess of $1,000 for (1) medical care previously incurred by, or necessary to obtain medical care for you, your spouse or dependents, or (2) expenses necessary for you, your spouse or dependents to obtain medical care, so long as the medical expenses are deductible under IRS Code Section 213(d); or
• • Payments to prevent eviction from your principal residence, or foreclosure on a mortgage on that property.

The payment you receive from the plan will be subject to mandatory withholding of 20% for federal income taxes. You can avoid mandatory withholding only if you arrange to have your benefit transferred directly to an IRA or an eligible retirement plan.

In order to change your mailing address, you must complete a Change of Address Form. You may print and complete the form, or you may contact the Fund Office and a form will be mailed to you.

Complete a Beneficiary Designation Form and mail to the Fund Office.

If you have any questions about your eligibility, benefits or claims, contact the Fund Office at (952) 854-0795 or (800) 535-6373. If you have any questions about Union membership or related matters, contact District Council #82 at (651) 224-5480.