Name of Plan
Board of Trustees
Plan Sponsor and Administrator
Identification Numbers
Agent for Service of Legal Process
Collective Bargaining Agreements
Source of Contributions
Pension Fund’s Assets and Reserves
Fiscal Year
Type of Plan
Eligibility and Benefits
Pension Benefit Guaranty Corporation
Rights and Responsibilities

The following information provides important facts about the Plan which you should know.

1. Name of Plan. This Plan is known as the Sheet Metal Workers’ Local 73 Pension Plan.
   
   
2. Board of Trustees. A Board of Trustees is responsible for the operation of this Plan. The Board of Trustees consists of Employer and Union representatives selected by the Employers and the Local Union who have entered into collective bargaining agreements related to this Plan. If you wish to contact the Board of Trustees, you may use the address and telephone number shown earlier in this booklet.
   
   

   As of May 1, 2003, the Trustees of this Plan are:

   UNION TRUSTEES	EMPLOYER TRUSTEES
   Mr. Stanley F. Karczynski	Mr. John Delano
   President and Business Manager	William J. Perkinson Company
   Sheet Metal Workers’ Local 73	412 N. Wolcott Avenue
   4550 Roosevelt Road	Chicago, Illinois 60622
   Hillside, IL 60162
   Anthony Scavone	Mr. John P. Harmon, Sr.
   Sheet Metal Workers’ Local 73	Builders Heating, Inc.
   4550 Roosevelt Road	4633 West 138th Street
   Hillside, IL 60162	Crestwood, Illinois 60445
   Michael E. Keeley	Mr. Patrick J. Ludvigsen
   Sheet Metal Workers' Local73	Air Dynamics, Inc.
   4550 Roosevelt Road	12 N. Prospect Court
   Hillside, IL 60162	Prospect Heights, IL 60070

1. Plan Sponsor and Administrator. The Board of Trustees is both the Plan Sponsor and Plan Administrator.
   
   
2. Identification Numbers. The number assigned to this Plan by the Board of Trustees pursuant to instructions of the Internal Revenue Service is 001. The number assigned to the Board of Trustees by the Internal Revenue Service is 51-6126221.
   
   
3. Agent for Service of Legal Process. Michael Daley, Esq. of Daley & George, Ltd., Two First National Plaza, 20 South Clark Street, Suite 400, Chicago, Illinois, 60603, is the Plan’s agent for service of legal process. Accordingly, if legal disputes involving the Plan arise, any legal documents should be served upon Michael Daley, Esq. or upon any of the Trustees at the Fund Office.
   
   
4. Collective Bargaining Agreements. This Plan is maintained pursuant to collective bargaining agreements between the contributing employers and Sheet Metal Workers’ Local No. 73. A copy of the collective bargaining agreement may be obtained on written request and is available at the Fund Office for examination.
   
   
5. Source of Contributions. The benefits described in this booklet are provided through employer contributions. The amount of the employer contributions and the employees on whose behalf contributions are made are determined by the provisions of the collective bargaining agreements and participation agreements.
   
   Upon written request, the Fund Office will provide information as to whether an employer is contributing to the Fund on behalf of an employee working under a collective bargaining agreement and participation agreements.
   
   
6. Pension Fund’s Assets and Reserves. All assets are held in trust by the Board of Trustees for the purpose of providing benefits to eligible participants and defraying reasonable administrative expenses.
   
   
7. Fiscal Year. The Fiscal Year begins on July 1 and ends on the next June 30 and is the period for which various governmental reports are required to be filed.
   
   
8. Type of Plan. This is a defined benefit plan maintained for the purpose of providing retirement benefits to eligible participants.
   
   
9. Eligibility and Benefits. The types of benefits provided and the Plan’s requirements with respect to eligibility as well as circumstances that may result in disqualification, ineligibility, or denial or loss of any benefits are described in this booklet.
   
   
10. Pension Benefit Guaranty Corporation. Your pension benefits under this multiemployer plan are insured by the Pension Benefit Guaranty Corporation (PBGC), a federal insurance agency. A multiemployer plan is a collectively bargained pension arrangement involving two or more unrelated employers, usually in a common industry.
    
    Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans that are insolvent. A multiemployer plan is considered insolvent if the plan is unable to pay benefits (at least equal to the PBGC’s guaranteed benefit limit) when due.
    
    The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer program, the PBGC guarantee equals a participant’s years of service multiplied by (1) 100% of the first $11 of the monthly benefit accrual rate and (2) 75% of the next $33.
    
    The PBGC’s maximum guarantee limit is $35.38 per month times a participant’s years of service. For example, the maximum annual guarantee for a retiree with 30 years of service would be $12,737.
    
    The PBGC guarantee generally covers: (1) Normal and early retirement benefits; (2) disability benefits if you become disabled before the plan becomes insolvent; and (3) certain benefits for your survivors.
    
    The PBGC guarantee generally does not cover: (1) Benefits greater than the maximum guaranteed amount set by law; (2) benefit increases and new benefits based on plan provisions that have been in place for fewer than 5 years at the earlier of: (i) The date the plan terminates or (ii) the time the plan becomes insolvent; (3) benefits that are not vested because you have not worked long enough; (4) benefits for which you have not met all of the requirements at the time the plan becomes insolvent; and (5) non-pension benefits, such as health insurance, life insurance, certain death benefits, vacation pay, and severance pay.
    
    For more information about the PBGC and the benefits it guarantees, ask your Plan Administrator or contact the PBGC’s Technical Assistance Division, 1200 K Street, N.W., Suite 930, Washington, D.C. 20005-4026 or call 202-326-4000 (not a toll-free number or 1-800-400-7242). TTY/TDD users may call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 202-326-4000. Additional information about the PBGC’s pension insurance program is available through the PBGC’s website on the Internet at http://www.pbgc.gov.
    
    
11. Rights and Responsibilities. As someone who may be eligible for benefits from this Plan, you should be aware that the benefits are paid in accordance with Plan provisions out of a trust fund which is used solely for that purpose. If you have any questions or problems as to benefit determinations, you have a right to appeal to the Trustees who administer the Plan (Appeals).
    
    The same basic rights have now been incorporated in the Employee Retirement Income Security Act, which Congress adopted in 1974, for application to all benefit plans.