Summary Plan Description Table of Contents
General Matters Applicable to the Plan
Are the Trustees’ decisions conclusive and binding?
Subject to the requirements of the law, the decisions of the Trustees shall be final and binding on all parties. The Trustees are empowered to exercise the fullest extent of discretion authorized under any applicable law in carrying out their responsibilities.
Can my benefits be assigned or attached?
The Trustees have taken all steps available to them under the law to protect your benefits. You may not assign the benefits prior to distribution. Once benefits have been distributed to your account at the designated bank they are no longer plan assets and will likely be subject to assignment or attachment.
What happens to my benefits in the case of my incompetency or incapacity?
The plan authorizes the Trustees, in their discretion, to direct benefits to your maintenance utilizing methods set forth in the Trust Agreement.
Can the Plan be amended?
Yes. However, no amendment may alter the basic principles of the Trust Agreement, conflict with collective bargaining agreements as these agreements affect contributions to the Fund, be contrary to laws governing the Fund or contrary to agreements entered by the Trustees.
Can the Plan be terminated?
Yes. The plan may be terminated by a written instrument executed by the Union and Employer Association. Termination may also be made by a written instrument executed by all the trustees when there is no longer a written agreement requiring contributions to the Fund.
What happens if the Plan terminates?
The obligations of the Plan shall be paid. The remaining assets will be distributed in a manner determined by the Trustees which will in their opinion best effectuate the purpose of the Fund. However, no part of the assets shall be used for purposes other than the exclusive benefit of participants and beneficiaries or administrative purposes. Further, no assets shall inure to the benefit of any Employer or to the Union.