Thursday, April 2, 2026

Frequently Asked Annuity Questions


Q. What should be done upon divorce? 
A. Pension benefits earned during marriage are considered community property that can be divided if the marriage ends. If you and your spouse decide to divide the benefits under this Plan, you must follow the Plan procedures for obtaining a QDRO. You or your attorney may obtain further details and assistance by writing to the Trust Fund Office.
Q. Can I lose any contributions made to my account? 
A.

Any time money is invested for potential profit, there is the chance of a loss. It is difficult to predict, for example, whether there will be a depression or some other catastrophe that might affect the Plan assets and investments. Your Plan Trustees are required by law to select prudent investment options for your behalf. Furthermore, the Plan regularly purchases fiduciary insurance, which offers some protections against losses caused by imprudence on the part of one or more of your Trustees. However, it is impossible to fully insure Plan assets against all types of investment losses.

You could lose part or all of your account if the Plan administrator is unable to locate you when it comes time to make payments to you. It is important that you (or your beneficiary) keep an up-to-date mailing address on file with the Trust Fund Office at all times. 

Q. What happens to this benefit if I should die? 
A.

This benefit is paid to your beneficiary in the order listed below:

  • The participant's spouse or registered domestic partner.
  • The participant's children, including legally adopted children; or
  • The participant's estate. 

Q. How do I find out what my current balance is on my Defined Contribution Pension Fund?
A. You can access your account balance through the Northwest Plan Services (NWPS, formerly Kaufmann & Goble) website at www.kandg.com. 
Q. Can I borrow from my Defined Contributions Pension Fund? 
A. No, there are no provisions in the Plan that allow for loans or hardship withdrawals.
Q. I'm retired and I would like to take a distribution from my Defined Contribution Pension Fund.
A. You must complete a Defined Contribution application. You will need to contact NWPS for an application. You can contact them at 408-298-1170.
Q. How do I become a vested participant? 
A. If your employer is required by a collective bargaining agreement with Sheet Metal Workers Local Union 104 to make contributions to the Trust on your behalf, you will become a participant after you complete one hour of covered service. You are vested immediately in all contributions credited to your Plan benefit account.
Q. How do I earn a Defined Contribution Pension? 
A. Your Plan is funded by employer contributions made on your behalf under a collective bargaining agreement between your employer and Sheet Metal Workers Local 104. You earn a specified employer contribution for every hour you work under contribution rates have been established depending on an employee's classification under the collective bargaining agreement.