Monday, February 2, 2026

Frequently Asked Annuity Questions


Q.

When do I become eligible for benefits?

A.

Have contributions made by your employer on your behalf in accordance with the collective bargaining agreement.

Q.

When can I start Participating in the Plan?

A.

As soon as contributions are made on your behalf.

Q.

What is a Plan Year?

A.

November 1st through October 31st.

Q.

Do I need to do anything to enroll in the Plan?

A.

Answer Here

Q.

When do I become vested?

A.

You become vested with the first contribution.

Q.

How do I become eligible to withdraw money from my account?

A.

You can request a withdrawal when you have had less than 400 hours of contributions in a consecutive 20 month period or at retirement or disability. 

Q.

May I borrow against my Annuity Plan?

A.

No. 

Q.

How is my account invested?

A.

You will receive notification from the investment company Prudential after they receive the first contribution on your behalf.  You have the option of selecting from a variety of investment options.  If you do not make an election, the default investment is target based fund based on your date of birth.

Q.

What happens to my account when I die?

A.

The account balance is payable to your designated beneficiary.

Q.

How do I designate a Beneficiary for my Individual Account?

A.

Complete the beneficiary form as provided by the Fund Office.

Q.

What if I get divorced?

A.

If you get divorced and a portion of your account should be allocated to your spouse, you must submit a Qualified Domestic Relations Order (QDRO) to the Fund Office for review and approval.  No assets will be designated to your spouse as an alternate payee without a QDRO.

Q.

How do I apply for a benefit?

A.

Request an application by contacting the Fund Office.