Q. |
A. | No, there are no loans or hardships permitted by the Fund.
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Q. |
A. | For active members, you must clear your account when requesting a distribution of your annuity. However, retired members may withdraw any amount of their choosing, leaving the remainder in their account.
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Q. |
A. | You do need to keep your beneficiary card current. For example: If you do not change your beneficiary after your divorce your ex-wife will receive your benefit. See question 11 in the Summary Plan Description for more details.
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Q. |
A. | No, the Annuity Fund is a defined contribution which means you may receive this benefit in a lump sum. The Pension Fund is a defined benefit which means it is payable only in a monthly pension benefit at retirement age.
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Q. |
A. | If a member has 200 hours in one annuity year and he does not work another 200 hours within 5 years his account is forfeited. His account would just remain in the fund.
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Q. |
A. | The Benefit Office needs a complete copy of your divorce decree and separation agreement. If your ex-wife is to receive a portion of your annuity we do need a Qualified Domestic Relation Order from the court advising how to separate your account.
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