Sheet Metal Workers' International Association
Local Union No.73
Pension Welfare and Annuity Funds

 











 



ARTICLE 7. BENEFITS UPON TERMINATION OF EMPLOYMENT

7.1 TERMINATION OF EMPLOYMENT.
If a Participant incurs a 6 Month Break in Service for any reason other than his retirement, death or disability, he will be entitled to 100% of the value of his Accounts described in Article 4.1 (a) and Article 4.1 (b), if any.

Except as provided in Article 7.3 and except for benefits not exceeding $5,000, as described in Article 9.6, termination benefits will be payable as of the Participant's Normal Retirement Date.

7.2 ELECTION FOR EARLY DISTRIBUTION.
A Participant who incurs a 6 Month Break in Service in accordance with Article 7.1 may elect to receive distribution of his vested interest at a date earlier than his Normal Retirement Date. Such early distribution can be made only after the Participant provides proof that he has not received any Employer Contributions from any Employer for at least 6 consecutive calendar months commencing on the first day of the calendar month immediately following his date of severance. This election will be made in the form of a written request, filed with the named fiduciary in the manner provided by Article 10.7. Except as provided in Article 9.6, a married Participant's selection of a form of payment will be subject to the spousal consent requirements of Article 8.6. Spousal consent will also be required if the Participant's Vested Interest, determined under Article 9.6, exceeds $5,000, and the Participant elects a single sum payment. Upon receipt of such request, the named fiduciary will direct the trustees to make the distribution. The Trustees may require thirty (30) days prior written notice for the purpose of processing the distribution.

7.3 TERMINATION DUE TO DISABILITY.
If the employment of a Participant is terminated prior to his Normal Retirement Date due to disability, the Participant will be entitled to 100% of the value of his Accounts described in Article 4.1 (a) and Article 4.1 (b), if any, provided he has been determined to be eligible for a disability benefit under the Federal Social Security Act.

For purposes of this Article 7.4, disability will mean a physical or mental condition other than death which renders a Participant incapable of performing any employment.

The Trustees, or named fiduciary will have the right to require any Participant whose injury or sickness is the basis of a claim, when and as often as may reasonably be required, to provide evidence of his entitlement to disability benefits under the Federal Social Security Act.

Disability benefits will be payable as of the Participant's Normal Retirement Date, in accordance with the provisions of Article 7.1. However, upon the Participant's election such benefits may commence as soon as practical following the date the Participant is determined to be eligible for disability benefits under the Federal Social Security Act.

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