You will be entitled to a distribution of all or a portion of your Annuity account balance when one of the following events occurs:

Normal Retirement

• You retire at age 60 or above, and
• You stop working completely in the trade and geographical jurisdiction of the Union.

Early Retirement

• You retire at age 55 to 59 with a 30-Year Pension, and
• You stop working completely in the trade and geographical jurisdiction of the Union.

Termination of Employment

• You no longer have any employment relationship with any contributing employer, and
• There have been no contributions made to the Plan on your behalf for 12 consecutive months.

Age 59 1/2 Partial Distribution

• You are age 59 1/2, and
• You have been a Plan participant for two or more years.

In this case, you may elect to withdraw that portion of your balance that was credited to you on or after 11/01/02 and more than two full calendar years prior to the withdrawal request. The available amount is reduced by any distributions or loans that you have taken during the previous two calendar years.

Age 60 Partial Distribution

• You are age 60 or above, and
• You have been a Plan participant for two or more years.

In this case, you may elect to withdraw that portion of your balance that was credited to you two full calendar years prior to the withdrawal request. The available amount is reduced by any distributions or loans that you have taken during the previous two calendar years.

Total and Permanent Disability

• You are totally unable, as a result of bodily injury or disease, to engage in any gainful employment, and
• Your disability has lasted at least five months and is expected to continue for at least an additional seven months.

If you are in this situation, please contact the Fund Office for information regarding disability documentation requirements.

Temporary Disability

• You are totally unable, as a result of bodily injury or disease, to engage in any gainful employment for a period of at least 45 days.

If you are in this situation, please contact the Fund Office for information regarding disability documentation requirements. If approved, the distribution amount is limited to the lesser of (i) $50,000 or (ii) 50% of your account balance, less any outstanding loans.

Caregiver Leave

• You have ceased employment for a period of 45 or more days to serve as the primary caregiver to an immediate family member (spouse, child or parent) suffering from a life threatening illness or severe disability.

If you are in this situation, please contact the Fund Office for information regarding documentation requirements. If approved, the distribution amount is limited to the lesser of (i) $50,000 or (ii) 50% of your account balance, less any outstanding loans.  This distribution may not include amounts in your account prior to January 1, 2001 (including earnings on those amounts).

Hardship Distribution

To qualify for a hardship distribution, you must have worked in Covered Employment for at least two (2) years, be able to establish one of the immediate and heavy financial needs listed below, and have no other resources (including Plan loans) reasonably available to meet the need.  If you satisfy these requirements, you may take a Hardship Distribution from your Annuity account of up to 125% of the amount necessary to satisfy the need (the extra 25% is to help you pay taxes and potential penalties associated with the distribution).  Funds available for such distribution are limited to contributions made to your Annuity account on or after 11/01/2002, including earnings on those contributions.

You must demonstrate an immediate and heavy financial need for one of the following purposes to obtain a Hardship Distribution:

• Tax Delinquency:  Payment of past due federal income taxes where the Internal Revenue Service has issued a formal notice of tax delinquency, a tax assessment or a tax lien in respect to such past due income taxes;
• Prevention of Eviction or Foreclosure:  Payment to avoid your loss of the right to continue to occupy or remain in possession of your principal residence, or to prevent loss of title due to non-payment of delinquent taxes, or to prevent imminent foreclosure of an outstanding mortgage because of non-payment of one or more installments;
• Tuition and Related Educational Fees:  Payment of tuition, related educational fees, or room and board expenses for the next 12 months of post-secondary education for the participant or participant's spouse, child, or dependent; or
• Burial or Funeral Expenses:   Payments for burial or funeral expenses for the participant's deceased parent, spouse, child, dependent, or designated beneficiary at the time of death.
• Expenses and Losses Due to Disaster:  Expenses and losses incurred by the participant (including loss of income) resulting from a disaster declared by the Federal Emergency Management Agency (FEMA), provided that the participant’s principal residence or principal place of employment at the time of the disaster was located in an area designated by FEMA for individual assistance with respect to the disaster.

If you are married, you will be required to obtain written consent from your Spouse.  Hardship Distributions are limited to one per calendar year per participant, and you will be required to provide proof that any prior hardship distribution related to tax delinquency or eviction/foreclosure was used for the specified purpose.  The minimum amount for any Hardship Distribution is $1,000.

Required Distributions

IRS regulations generally require that you begin taking a minimum distribution from your account by December 31 of the calendar year in which you turn 70 1/2 or, if later, retire. If you are required to take a distribution, the Fund Office will send you a letter letting you know how much your required distribution will be for the year.

If you die before you are required to start taking a minimum distribution, the required distribution for your beneficiary will be as follows:

• If the sole beneficiary is your spouse, distribution will begin by December 31 of the year following the year of your death, or if later, by December 31 of the year in which you would have reached age 70-1/2.
• If your spouse is not your sole beneficiary, distribution to your beneficiary(ies) will begin by December 31 of the year following the year of your death. However, for single or partial lump sum payments, or if there is no designated beneficiary as of September 30 of the year after the year of your death, the entire balance of your account must be distributed by December 31 of the year in which the fifth anniversary of your death occurs.
  

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