Summary Plan Description

Miscellaneous Provisions Of The Pension Plan

Date Of Retirement

When you retire is a matter completely up to you and your Employer. There is nothing in the Plan which requires that you retire at any time nor is there anything in the Plan which requires that your Employer retain you in its service.

Alienation Of Benefit

There is no way under the Plan for your benefit to be alienated in any way by anyone including yourself, except by court order. Of course, what you do with your check after you receive it is your business. However, should you return to Covered Employment after you retire, your benefit may be suspended during the period that you are working as explained at pages 56-61.

The only exceptions are child support orders and orders relating to divorce proceedings. The Plan will honor such court orders if the orders meet all of the qualifications of a Qualified Domestic Relations Order under the provisions of ERISA.

Qualified Domestic Relations Order

A Qualified Domestic Relations Order is any order, including a property settlement order, relating to such matters as child support or alimony, made pursuant to state domestic relations law.

A Qualified Domestic Relations Order may require that payment of the alternate payee's, for example the spouse's, share of the Participant's benefit begin when the Participant reaches Early Retirement age, even if the Participant has not retired or terminated service at that time, and continues to work and be covered with the Plan.

Effective January 1, 1985, the Plan was amended to provide procedures for determining whether a domestic relations order is qualified, and for making payments under those orders. The Fund Office will provide you with a copy of the procedures, without charge, upon written request.

Social Security Benefits

The benefits you receive from the Plan are not affected by any Social Security benefits to which you are entitled. Except for your eligibility for Disability Retirement Benefits as explained at page 38, your pension benefits from the Plan are completely independent of any Social Security benefits which you are eligible to receive.

Cash-Out Of Accrued Benefit

In the event that the present value of your accrued benefit (benefit available at Normal Retirement Age - age 60) is $5,000 or less, as determined by the Fund Actuary, you will be paid the benefit in a lump-sum upon retirement.

The cash-out provisions also apply to a surviving spouse eligible to receive a Qualified Joint and Survivor Benefit or a Qualified Survivor Benefit, or a designated beneficiary eligible to receive a Ten Year Certain Benefit, when the present value of the accrued benefit is $5,000 or less.

A cash-out will be pursuant to the distribution rules promulgated by the Internal Revenue Service, including the opportunity to "rollover" such a distribution to a qualified retirement plan.

AMENDMENT OF THE PENSION PLAN

As explained at page 1, the provisions of the Plan permit the Trustees to amend the Plan, at any time, by an instrument in writing executed by the Trustees.

TERMINATION OF THE PENSION PLAN

The Board of Trustees may terminate this Plan at any time subject to the provisions of ERISA. If the termination is coincident with the establishment of another pension plan covering the Participants of this Plan or the inclusion of the Participants in this Plan in another similar existing pension plan, the Board of Trustees shall deliver the trust fund to the successor plan. If this Plan is terminated for any other reason, the funds then in trust after payment of all reasonable expenses, taxes or proper charges, shall be fully allocated by the Board of Trustees to each Participant and beneficiary for their exclusive benefit (except that no service shall accrue subsequent to this Plan's termination date), in the following order:

1. To provide for whatever payment can be made with respect to the pensions for Participants and beneficiaries, including disability pensioners, whose applications for such pensions were, or had been, approved as of this Plan's termination date; then, from the funds which remain, if any;

2. To provide for whatever payment can be made with respect to the pensions for Participants whose applications for pensions were pending as of this Plan's termination date, provided that such applications would have been approved by the Board of Trustees if this Plan had not been terminated, and for any other Participants who were eligible for pension benefits as of this Plan's termination date; then, from the funds which remain, if any;

3. To provide whatever payment can be made with respect to the pensions for those Participants then vested under this Plan and guaranteed under Section 4022 of ERISA; then, from the funds which remain, if any;

4. To provide for whatever payment can be made with respect to any other vested benefits not provided for above; then, from the funds which remain, if any;

5. To provide for whatever payment can be made with respect to any other benefits not provided for above; then, from the funds which remain, if any;

6. To distribute the remaining funds in an equitable manner, either in cash or in an actuarially equivalent annuity benefit, as determined by the Board of Trustees, to the Participants and beneficiaries.

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