Administrative Facts

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Plan Name

Sheet Metal Workers’ International Association Local Union No. 73 Annuity Plan

Plan Employer Identification Number

20-5002115

Plan Number

003

Plan Year

June 1 – May 31

Trust Fund Name

Sheet Metal Workers’ International Association Local Union No. 73 Annuity Fund

Type of Plan

The Sheet Metal Workers’ International Association Local Union No. 73 is a profit sharing plan that provides payments in the form of an annuity.

Plan Sponsor and Plan Administrator

Sheet Metal Workers’ International Association Local Union No. 73
Annuity Plan
4530 Roosevelt Road
Hillside, IL 60162
(708) 449-7373
Fax: (708) 449-7333
www.sm73funds.org

The Trustees of this Plan are:

Union Trustees	Employer Trustees
Mr. Dave Brown Sheet Metal Workers' Local 73 4550 Roosevelt Road Hillside, IL 60162	Mr. Robert Axelrod SMACNA Greater Chicago 1415 W. 22nd Street, Suite 1200 Oak Brook, IL 60523-8433
Mr. Brian Mulheran Sheet Metal Workers' Local 73 4550 Roosevelt Road Hillside, IL 60162	Mr. James Cesak SMACNA Greater Chicago 1415 W. 22nd Street, Suite 1200 Oak Brook, IL 60523-8433
Mr. Raymond Suggs Sheet Metal Workers' Loal 73 4550 Roosevelt Road Hillside, IL 60162	Mr. John Hewitt SMACNA Greater Chicago 1415 W. 22nd Street, Suite 1200 Oak Brook, IL 60523-8433
Mr. Rocco Terranova Sheet Metal Workers' Local 73 4550 Roosevelt Road Hillside, IL 60162

Type of Administration

The Board of Trustees and the Plan Administrator administer the Plan. They are assisted by an administrative staff.

Agent for Service of Legal Process

The Fund Administrator is the Plan’s agent for service of legal process. Accordingly, if legal disputes involving the Plan arise, any legal documents should be served on:
Fund Administrator Sheet Metal Workers’ Local 73 Annuity Fund 4530 Roosevelt Road Hillside, IL 60162, or

Collective Bargaining Agreement

This Plan is maintained pursuant to Collective Bargaining Agreements between Sheet Metal Workers’ International Association Local Union No. 73 and Contributing Employers. The Plan Administrator will provide you, upon written request, information as to whether a particular employer is contributing to the Plan on behalf of employees working under the collective bargaining agreements and a copy of the relevant collective bargaining agreement.

Source of Contributions

Benefits described in this SPD are provided through employer contributions. The provisions of the collective bargaining agreements determine the amount of employer contributions. All contributions and Annuity Plan assets are held in trust in individual accounts.

Contributing Employers

Upon written request, the Plan Administrator will advise you as to whether or not a particular employer is a party to a collective bargaining agreement pursuant to which the Annuity Plan is maintained.

Sole Determination by Trustees

Only the Board of Trustees has the discretion and authority to determine eligibility for benefits and the right to participate in the Annuity Plan and to exercise all the other powers specified in the Plan Document. No officer, agent or employee of the Union or employer or any other person, is authorized to speak for, or on behalf of, or to commit the Board of Trustees, on any matter relating to the Annuity Plan.

The Board of Trustees has the right to interpret the Plan and its provisions in its sole discretion. The Board’s interpretation shall be final and binding and may only be disturbed if it is found to be arbitrary, capricious, and an abuse of discretion. The Plan Administrator is responsible for answering all day-to-day questions concerning eligibility, benefits, applications, and appeal procedures.

No Employment Guarantees

Your coverage by this Plan does not constitute a guarantee of your continued employment.

Right to Change or Terminate the Plan

The Board of Trustees has the right to amend or terminate this Plan when required by law or when deemed appropriate. The Plan may be amended at any time if the Trustees agree to do so in writing, as long as the amendment does not affect the ability of the Plan to provide the annuity benefits you have accrued in your account. The Plan will be amended pursuant to the requirements of the Trust Agreement and ERISA. If the Plan is amended or terminated, you will be notified in writing.

In the event of a termination (or partial termination) of the Plan, or in the event contributions are discontinued, you will remain 100% vested in your account balance. Any assets remaining after paying out participants’ vested account balances and expenses of the Plan will be distributed among the participants. Each participant will receive a part of the assets as specified in the Plan Document. No assets will be returned to any employer for the benefit of any employer or the Union.

Once the Plan is terminated and all assets have been distributed, the Board of Trustees will be discharged from all liability under the Plan and participants and beneficiaries will have no further rights or claims.

Plan Interpretation

Non-Assignment of Benefits

You cannot assign or transfer benefits under the Sheet Metal Workers’ International Association Local Union No. 73 Annuity Plan to someone else, except as otherwise provided under federal law. Your Plan benefits are exempt from execution, attachment, garnishment, pledge or bankruptcy. However, the Board of Trustees will honor a Qualified Domestic Relations Order (QDRO).

Top-Heavy Provisions

Federal law requires that if the Annuity Plan becomes a “top-heavy” plan as described in the Internal Revenue Code, minimum contributions may apply. In the unlikely event that this Annuity Plan becomes top-heavy, you will be notified accordingly.

Maximum Contributions

The Internal Revenue Code imposes maximum limitations on contributions permitted under all qualified plans. These limits are liberal and would not normally prevent you from receiving full benefits. In the unlikely event that the employer contributions made on your behalf are limited, the Fund Office will contact you with more information.