Wednesday, February 18, 2026

Frequently Asked Annuity Questions


Q. When do I become eligible for benefits?
A. Each Active Participant is granted one year of Credited Service for each plan year in which he has 800 or more hours of service.
Q. When can I start Participating in the Plan?
A. You become a participant when contributions are required to be made to the Fund.
Q. What is a Plan Year?
A. The Plan Year is January 1 - December 31
Q. Do I need to do anything to enroll in the Plan?
A. You are enrolled when contributions are remitted to the Plan.
Q. When do I become vested?
A. A Participant who has completed two or more years of credited service or has attained his Normal Retirement Age is a vested participant and shall have a nonforfeitable right to 100% of his Account Balance.
Q. How do I become eligible to withdraw money from my account?
A. Vested Parpticipants may withdraw the account balance at Normal Retirement Age (age 62) and is no longer active, at Early Retirement Age (age 50) and is no longer active, become disabled and no longer active, or at separation after two consecutive years or more from all work within the commercial and residential roofing industry. Hardship withdrawals are allowed for Active Vested Participants for qualified educational expenses, un-reimbursed or uninsured medical bills, funeral expenses, purchase or construction of a primary residence, to prevent foreclosure on a primary residence or for an uninsured casualty loss on a primary residence.
Q. May I borrow against my Annuity Plan Account Balance?
A. No, There is not a loan providion
Q. How is my account invested?
A. The assets of the Plan are held under a Trust Agreement and managed by a Board of Trustees who are appointed accroding to the Trust Agreement.
Q. What happens to my account when I die?
A. Upon your death, your Account Balance shall be payable to your surviving spouse if married at the time of death, otherwise to your named beneficiary
Q. How do I designate a Beneficiary for my Individual Account?
A. Contact the Fund Office or union hall for a beneficiary form.
Q. What if I get divorced?
A. If the Plan is required to make payments to an alternate payee under a Qualified Domestic Relations Order (QDRO), then the Account Balance shall be divided accordingly. An account is set up for the alternate payee. Please provide a copy of your divorce decree and any QDRO and settlement agreement.
Q. How do I apply for a benefit?
A. Applying for a benefit is done by completing an application form. Please contact the Fund Office.