Brothers and Sisters,
I am pleased to announce the completion of the 2008 Summary Plan Description (SPD). Individual printed copies will be mailed by late July 2008. An electronic PDF is available here or on the About the Plan page.
The SPD provides an overview of your Sheet Metal Workers’ National Pension Fund and summarizes the Fund’s Rehabilitation Plan, Schedules and Plan Document. As you know from previous communications, the Pension Protection Act of 2006 (“PPA”) amended federal law to impose additional funding rules for multiemployer plans like the National Pension Fund. The effect of these new rules on your benefits is outlined in the SPD. All previous communications about the PPA are available on the Pension Protection Act page.
If you are a Retiree, and intend to work, please be sure to review the summary concerning work after retirement found on page(s) 73 through 77.
If you retired or separated before January 1991, much of the information described in the SPD does not affect you, with the exception of work after retirement as described above.
If you are not retired or retired on or after January 1991, please review the SPD thoroughly as there are changes that will likely affect you.
Please share this SPD with your family. Remember that the SPD is only a summary of the Plan Document and the Rehabilitation Plan and cannot address every situation.
If you are not yet retired and would like a pension estimate, you should complete a Vesting Application. A Vesting Application is available here. After receipt of your application, the Fund will review your Pension Credit reported to date. If vested, the Fund can provide estimates of what you can expect to receive once you retire.
On behalf of the Trustees, we thank you for your support in these challenging times. The Trustees and staff are making every effort to assist in your retirement goals. If at any time the Fund can be of assistance, please do not hesitate to contact the Fund Office directly.
Fraternally Yours,
Michael J. Sullivan
Chairman, Board of Trustees
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To view the Fund's March 31, 2008 Unaudited
Financial Statement, click here.
To view the Fund's December 31, 2007 Financial Statement, click here.
To view the Fund's 2006 Summary
Annual Report, click here.
To view the Annual Funding
Notice for Plan Year 2006, click here.
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