You become a Participant in the Plan if your employer is required by a Collective Bargaining Agreement with a Local Union affiliated with the Western States Conference of Insulators and Allied Workers to contribute to the Plan on your behalf as an Insulator and Allied Worker.

Any Individual Account of an Employee who vested or is receiving retirement or disability benefits from the Pension Plan or the Health Plan shall be 100% vested immediately. Any other Individual Account resulting from three hundred fifty (350) or more hours of contributions shall be vested.

You may apply for and receive payment of your Individual Account only if you are vested in the Plan and your balance does not exceed $5,000 and have had no contributions made to this Plan on your behalf for the last full Plan year and any period since.

No. This Plan does not allow for loans.

Your Individual Account shall be payable to your designated beneficiary.

The Trust Fund office will send you a Designation of Beneficiary form upon request. If you are married and wish to designate someone other than your legal spouse as Beneficiary, you must obtain your spouse’s written consent, witnessed by a Notary Public.

Please call the Trust Fund office and advise the Pension Department that you are getting a divorce. You will also need to submit a FULL copy of your Final Dissolution of Marriage Judgment, Marriage and/or Property Settlement Agreement and QDRO (Qualified Domestic Relations Order).

The first step is to request an application from the Trust Fund office. The application will come with instructions and information about the type of documents you will need to include with your completed application.

The value or each Individual Account is determined on a daily basis. Your Individual Account will share in the income and investment gains or losses of the particular investment options you select. Your Individual Account will be charged for reasonable expenses incurred in connection with the implementation of your investment instructions.

No. The employer’s contributions are not taxable income to the individual, nor are the earnings thereon, as this is tax exempt qualified Pension Trust. However, at the time you access your account and receive a distribution from the Plan, these monies become eligible income; therefore taxes are due at that time.

No, however if an Employee is a participant in another multi-employer money purchase plan sponsored by a local union of the International Association of Heat and Frost Insulators and Allied Workers and that other plan has executed an inter-plan transfer agreement with this Plan, then the Trustees may, upon the written request of the Employee and receipt of any requested supporting documentation, accept the transfer of the Employee’s entire vested account balance, or any portion thereof, into this Plan.

The value of each Individual Account is determined on a daily basis. Your Individual Account will share in the income and investment gains or losses of the particular investment options you select. Your Individual Account will be charged for reasonable expenses incurred in connection with the implementation of your investment instructions.