Summary Plan Description - Boilermakers National Funds

Transcription

Summary Plan
Description
Boilermaker-Blacksmith National Pension Trust
754 Minnesota Avenue
Kansas City, KS 66101-2766
www.bnf-kc.com
866.342.6555
Letter from the Board of Trustees
Dear Participants:
We are pleased to present you with this Summary Plan Description (SPD) explaining the
updated version of the Boilermaker-Blacksmith National Pension Trust (the Twelfth
Restatement of the Plan). All changes made to the Plan since the last SPD was printed in
December 2003 are included in this new SPD. This SPD also includes all amendments to
the restated Plan through July 1, 2010.
We urge you to read this SPD carefully to understand your benefits. We tried to explain all
sections of the Plan clearly. Your retirement benefits are important for your financial
planning. We urge you to show the SPD to your family. It is important they are aware of
your retirement benefits and the survivor protection offered. After you read this SPD, please
keep it in a safe place for future reference.
The purpose of this Plan is to provide you with retirement benefits. Your Plan is a defined
benefit Pension Plan designed to provide a lifetime benefit for you and, if you are married, a
survivor benefit for your Spouse. Contributions to the Plan are made by Employers as
required by a Collective Bargaining Agreement and/or Participation Agreement and
according to the Plan rules and the Trust Agreement. When reading this SPD, please
remember, if the facts and circumstances of a particular situation occurred before October
1, 2009, Plan provisions in effect at the relevant date may be applied. Those provisions
may be different from the Plan now in effect and summarized in this SPD.
Please keep the Fund Office informed of changes in your mailing address so you will
receive all communications. When writing to the Fund Office, always include your correct
Social Security number with your communication. We will continue to let you know about
changes in the Plan, and we will continue our commitment to helping you create a
financially secure retirement.
Please keep in mind, for your protection, only the Board of Trustees is authorized to
interpret the Plan. If there is a conflict between the Plan and this booklet, the rules of
the Plan will prevail. You may access the Plan at www.bnf-kc.com. While you may receive
Plan information from the Union or your Employers, this information is not official. Only
communications sent to you in writing and signed on behalf of the Board of Trustees or the
Fund Office is considered official Plan information. Future Plan changes will be sent to you
and should be kept with this document.
We hope you find this SPD helpful and you and your family will enjoy the protection of the
Plan for many years to come. If you have questions after reading this SPD, you may
contact the Fund Office toll free by telephone at 866-342-6555, 7 a.m. to 5 p.m. CST,
Monday through Friday, or in writing at 754 Minnesota Avenue, Kansas City, Kansas,
66101-2766.
Sincerely,
The Board of Trustees
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Employer Trustees
Union Trustees
Michael G. Morash
Terry AnCel
David J. Zach
Larry Jansen
Scott Anderson
Jeff A. Sizer
Jeff Brown
Ronnie L. Traxler
Warren Fairley
John J. Skermont
Sean P. Murphy
Edwin G. Vance
Lawrence J. McManamon
B. Allen Meyers
Mark Vandiver
Raymond Ventrone
Paul Maday
J. Tom Baca
James A. Pressley
Executive Administrator
Richard L. Calcara
Phone: 866-342-6555
Legal Counsel
Blake & Uhlig, P.A.
475 New Brotherhood Bldg.
753 State Avenue
Kansas City, KS 66101
Phone: 913-321-8884
Consultant
The Segal Company
ii
Table of Contents
Letter from the Board of Trustees ................................................................................ i
The Board of Trustees .................................................................................................. ii
Table of Contents ......................................................................................................... iii
Section 1: Introduction ................................................................................................. 1
Important Note...................................................................................................... 1
Assistance for Those Who Do Not Read English ................................................. 1
Section 2: Plan Highlights ............................................................................................ 3
Section 3: Things for You to Do................................................................................... 4
Save this SPD ...................................................................................................... 4
Inform the Fund Office of Changes....................................................................... 4
If You are Thinking about Retirement ................................................................... 4
If You are Terminating Covered Employment....................................................... 4
Check Your Benefit Options ................................................................................. 4
Keep Your Records .............................................................................................. 4
Designate a Beneficiary........................................................................................ 5
Questions ............................................................................................................. 5
Section 4: Beginning Work........................................................................................... 6
Becoming a Participant in the Plan....................................................................... 6
Permanent Break in Covered Employment .......................................................... 6
Participation in the Plan may be Terminated ........................................................ 6
Participation after a Permanent Break in Covered Employment........................... 6
Your Contribution Date ......................................................................................... 6
Section 5: Vesting and Pension Credit........................................................................ 7
Plan Credit Year ................................................................................................... 7
Vesting Service and Pension Credit are Different................................................. 7
Vesting for Benefits .............................................................................................. 7
Credit Earned for Work Performed before Contribution Date ............................... 7
Past Service Credit............................................................................................... 8
Figuring Past Service Credit ................................................................................. 8
Limits on Past Service Credit................................................................................ 8
Information the Plan Considers to Determine Past Service Credit ....................... 8
Future Service Credit............................................................................................ 8
Section 6: Breaks in Covered Employment .............................................................. 10
Permanent Break in Covered Employment before January 1, 1976................... 10
Permanent Break in Covered Em ployment after 1975 through September 30,
1985 .............................................................................................................. 10
Permanent Break in Covered Employment on and after October 1, 1985.......... 10
Effect of a Permanent Break in Covered Employment ....................................... 10
Grace Periods..................................................................................................... 10
You Can Only Incur a Permanent Brea
k in Cover ed Employ ment before
Vesting for Benefits ....................................................................................... 12
iii
Your Pension Statement Reflects Permanent Breaks in Covered Employment . 12
Section 7: Pension Benefits ....................................................................................... 13
Pension Types .................................................................................................... 13
Basic Pension ..................................................................................................... 13
Past Service Pension.......................................................................................... 15
Early Retirement Pension ................................................................................... 20
Vested Pension................................................................................................... 23
Alternative Vested Pension................................................................................. 24
Disability Pension................................................................................................ 25
Section 8: Applying for Benefits ................................................................................ 33
How to Apply for Benefits.................................................................................... 33
Time Line for Applying for Pension Benefits ....................................................... 33
When Your Application is Considered Filed........................................................ 35
Payment of Benefits Accrued after an Initial Annuity Starting Date .................... 37
Section 9: Forms of Payment – Pension Benefits .................................................... 40
How Your Pension will be Paid ........................................................................... 40
Married Participants ............................................................................................ 40
When a Husband and Wife Pension is Not Effective .......................................... 42
Unmarried Participants ....................................................................................... 43
All Participants .................................................................................................... 43
How to Elect an Optional Form of Payment ........................................................ 45
Other Distributions .............................................................................................. 45
Section 10: Service in the Uniformed Service........................................................... 47
Pension Credit during Periods of Uniformed Service .......................................... 47
Types of Uniformed Service Covered ................................................................. 47
Earning Pension Credit during Uniformed Service.............................................. 47
When Your Service in the Uniformed Service Must Begin .................................. 48
Discharges or Dismissals that Disqualif y You from R eceiving Credit during
Uniformed Service ......................................................................................... 48
Reporting to Work ............................................................................................... 48
Deadlines for Reporting to Work ......................................................................... 49
Documentation You Must Submit to the Fund Office upon Your Return ............. 50
Vesting Service ................................................................................................... 50
Break in Covered Employment ........................................................................... 50
Figuring a Contribution Rate for the Period of Uniformed Service ...................... 50
Payment of Contributions.................................................................................... 50
Death or Disability during Uniformed Service ..................................................... 50
Section 11: Death Benefits ......................................................................................... 51
Death before Retirement..................................................................................... 51
Death after Retirement........................................................................................ 53
Section 12: Designation of Beneficiary ..................................................................... 55
If Your Spouse is Your Beneficiary and You Become Divorced.......................... 55
If You Do Not Designate a Beneficiary................................................................ 55
If Your Beneficiary Dies before Receiving all Payable Benefits .......................... 55
How Benefits Due to You at the Time of Your Death Will be Paid ...................... 56
iv
If the Plan Cannot Find You or Your Beneficiaries ............................................. 56
If You are Divorced, Your Ex-Spouse may Have a Right to Benefits.................. 56
Section 13: Pension Benefit Limits............................................................................ 57
Dollar Limits........................................................................................................ 57
Dollar Limit Reductions....................................................................................... 57
Reduction for Benefit Form................................................................................. 57
Adjustment of Dollar Limit for Early or Late Retirement...................................... 58
Cost of Living Adjustment ................................................................................... 58
Plan Adjustment ................................................................................................. 59
No Employer-by-Employer Testing for Benefits Accrued after 2007................... 59
Practical Suggestions for Dollar Limits ............................................................... 60
Section 401(a)(17) Compensation Limit ............................................................. 61
Section 14: Claims and Appeals ................................................................................ 62
Claim Filing......................................................................................................... 62
If Your Claim for Benefit is Denied...................................................................... 62
How to File an Appeal ........................................................................................ 62
When Your Appeal is Reviewed and Decided .................................................... 63
Information the Appeals Committee Considers .................................................. 63
You Will be Notified of the Appeals Committee’s Decision................................. 63
The Trustees’ Decision is Final........................................................................... 63
Legal Action........................................................................................................ 63
Section 15: Qualified Domestic Relations Orders .................................................... 65
Benefits may be Divided under State Domestic Relations Law .......................... 65
A Qualified Domestic Relations Order ................................................................ 65
If the Plan Receives a QDRO ............................................................................. 65
If a QDRO is Pending ......................................................................................... 65
If You Get Remarried.......................................................................................... 65
If You Divorce after Starting Your Pension ......................................................... 66
If You Need Additional Information ..................................................................... 66
Section 16: Retirement and Disqualifying Employment .......................................... 67
Retirement .......................................................................................................... 67
Disqualifying Employment .................................................................................. 67
Employment After Reaching Age 70 ½............................................................... 68
Suspension of Benefits....................................................................................... 68
Determination of Disqualifying Employment ....................................................... 69
Special Retiree Work Rules................................................................................ 69
If You Return to Work after Retiring on a Disability Pension .............................. 70
Pension Payment following Suspension or Recalculation of Benefits ................ 70
Recalculated Monthly Benefits ........................................................................... 70
No Reduction in Value........................................................................................ 71
Section 17: Plan Amendment and Termination ........................................................ 72
Plan Amendment ................................................................................................ 72
Employer’s Termination of Participation ............................................................. 72
Plan Termination ................................................................................................ 72
Section 18: How Benefits may be Reduced, Delayed, Forfeited or Offset ............. 74
v
Section 19: Recent Pension Funding Changes ........................................................ 75
The Economic Downturn Impacted the Plan ....................................................... 75
Supplemental Contributions................................................................................ 75
Base Contribution Rate....................................................................................... 75
Minimum Contribution Rate ................................................................................ 75
Section 20: General Information ................................................................................ 77
Plan Name .......................................................................................................... 77
Plan Sponsor ...................................................................................................... 77
Plan Administration Type .................................................................................... 77
Plan Administrator’s Name, Address, and Telephone Number........................... 77
Agent for Service of Legal Process..................................................................... 77
Plan Identification Numbers ................................................................................ 78
Pension Plan Type.............................................................................................. 78
Plan Financing Source........................................................................................ 78
Collective Bargaining Agreements ...................................................................... 78
Funding Medium ................................................................................................. 78
Plan’s Fiscal Year ............................................................................................... 78
Titles ................................................................................................................... 79
Gender and Number ........................................................................................... 79
Trustees’ Discretion to Interpret the Plan and Resolve Disputes ........................ 79
Conflict between Summary Plan Description and Plan Document...................... 79
Plan Amendment or Termination ........................................................................ 79
Section 21: Your ERISA Rights .................................................................................. 80
Statement of ERISA Rights................................................................................. 80
Section 22: Glossary ................................................................................................... 82
vi
Section 1: Introduction
This SPD is meant to be an easy-to-understand description of your Pension Plan benefits.
Selected terms used throughout this SPD are capitalized and defined in the glossary which
can be found in Section 22. We tried to organize the information in a useful way. This SPD
includes information on:

How you begin to participate and accrue benefits in the Plan

The forms of retirement benefits available to you

Death benefits that may be available to your surviving Spouse or Beneficiary if you
die before retirement

Death benefits that may be available to your surviving Spouse or Beneficiary if you
die after retirement

How to apply for Plan benefits

Plan administration including important contact information

Your rights under Federal law
Important Note
This SPD reflects Plan provisions in effect as of October 1, 2010. Different rules may apply
to conditions, circumstances, and applications for benefits before October 1, 2010. Please
contact the Fund Office for more information at 866-342-6555, 7 a.m. to 5 p.m. CST,
Monday through Friday. If there is conflict between the Plan Document and the SPD,
the Plan Document will take precedence.
Assistance for Those Who Do Not Read English
This SPD contains a summary in English of your Plan rights and benefits under the Plan. If
English is not your primary language or if you have difficulty understanding this Summary
Plan Description, please contact the Fund Office at 866-342-6555, 7 a.m. to 5 p.m. CST,
Monday through Friday, for assistance.
Bilagaana Bizaad Il’iniigii Di yee’ Ba
Dii Summary Plan Description wolye’higii Bilaagaana bizaadjigii at’e. Doo Bilaagaana
Bizaadigii doo yik’idiitiihgo doo Summary Plan Description doo yitiingo, nihi Pension Office
beesh hane’ bichi’ yintaal, 866-342-6555.
Asistencia para Aquellos Instruidos en un Idioma Distinto al Ingles
Esta Descripcion Resumida del Plan contiene un resumen en ingles de sus derechos y
beneficios bajo el Plan. Si el ingles no es su idioma primario y usted tiene dificultad para
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entender cualquier parte de resumende Plan, por favor pongase en contacto con la oficina
de pensiones en 866-342-6555.
2
Section 2: Plan Highlights
This Plan provides retirement benefits for you and, if you are married, survivor benefits for
your Spouse. The Plan offers the following types of Pension:

Basic Pension

Past Service Pension

Early Retirement Pension

Vested Pension

Alternative Vested Pension
 Disab ility Pension
You may receive pension benefits in the following forms of payment:

50% Husband and Wife Pension - automatic benefit form for married Participants

75% Husband and Wife Pension - optional benefit form for married Participants

100% Husband and Wife Pension - optional benefit form for married Participants

Single Life Annuity 60-Months Certain - automatic benefit form for single Participants

Single Life Annuity 120-Months Certain - optional benefit form

Level Income Option - optional benefit form
The Plan also provides Death Benefits, payable to your Beneficiary, if you meet certain
eligibility requirements.
3
Section 3: Things for You to Do
Save this SPD
Keep this SPD in a safe place. If you lose your copy, you may request another copy from
the Fund Office. Tell your family, particularly your Spouse, about this SPD and its location.
Inform the Fund Office of Changes
Keep the Fund Office informed of changes to your mailing address, telephone number, or
marital status. This helps us make sure you and your Beneficiaries receive all information
and notices. Include your full Social Security number with all letters or documents you send
to the Fund Office so we can correctly file your information.
If You are Thinking about Retirement
Get the information you need from the Fund Office and file your application in plenty of
time. We suggest you apply three months before you want benefits to begin. You will need
copies of certain documents such as birth certificates, marriage certificates, divorce
decrees, Qualified Domestic Relations Orders (QDROs), or death certificates. If you have
questions, the Fund Office can let you know what you need to submit with your completed
application.
If You are Terminating Covered Employment
Contact the Fund Office for information on your pension status. We will tell you if you are
vested, if you meet eligibility requirements for pension benefits, and/or if you have Breaks
in Covered Employment. Make sure the Fund Office has your most recent employment,
marital status, and Beneficiary designation.
Check Your Benefit Options
Contact the Fund Office if you have questions, especially when you have a change in your
family status such as a marriage, divorce, or death. Deadlines apply to certain benefit
options.
Keep Your Records
Accurate Covered Employment work records are important to correctly determine your
eligibility and benefit amount. By checking the annual benefit statements against your
4
records, you may avoid delays in processing your benefit. Keep pay vouchers, payroll
check stubs and other evidence of employment until you are credited with that work.
Designate a Beneficiary
Designate your Beneficiary by completing the Plan’s Designation of Beneficiary Form. The
original Beneficiary Form must be received in the Fund Office prior to your death. If your
Beneficiary dies before you, or you want to change your Beneficiary, promptly request a
Designation of Beneficiary Form from the Fund Office. For more information refer to
Section 12 of this SPD.
Questions
You should contact the Fund Office about questions you have about the Plan or any
disagreement you have concerning your records. Remember, only information in writing,
signed on behalf of the Trustees, can be considered official.
Address and phone number:
The Boilermaker-Blacksmith National Pension Trust
754 Minnesota Ave.
Toll free phone number: 866-342-6555 or 913-342-6555
5
Section 4: Beginning Work
Becoming a Participant in the Plan
You become a Participant in the Plan once you have completed one Hour of Work in
Covered Employment for which a Contribution to the Pension Plan is required. Covered
Employment is work for which your Employer is required to make Contributions to this Plan
under a Participation Agreement or a Collective Bargaining Agreement with the
International Union, affiliated districts, or Local Lodges.
Permanent Break in Covered Employment
If you have a Permanent Break in Covered Employment, all Pension Credit earned before
the Permanent Break is cancelled and all Contributions made on your behalf are forfeited.
Remember, you can only incur a Permanent Break if you have not vested for benefits.
Once you have vested for benefits, your right to benefits from the Plan is nonforfeitable.
Participation in the Plan may be Terminated
Your participation in the Plan can be terminated if you incur a Permanent Break in Covered
Employment. Information about Permanent Breaks in Covered Employment is found in
Section 6 of this SPD. You can only have a Permanent Break in Covered Employment if
you are not a Pensioner or vested for benefits. If you have a Permanent Break in Covered
Employment, you will stop being a Plan Participant on the last day of the Plan Credit Year
in which the Permanent Break occurs.
Participation after a Permanent Break in Covered Employment
If you have a Permanent Break in Covered Employment, you will become a Participant
again when you complete one Hour of Work in Covered Employment for which a
Contribution is required. While you will again become a Participant, your participation and
Pension Credit will only be calculated on a go-forward basis. Pension Credit earned before
the Permanent Break in Covered Employment will not be used to calculate your benefit.
Your Contribution Date
Your Contribution Date is the first date your first Employer was obligated to make
Contributions to the Plan under a Collective Bargaining Agreement or Participation
Agreement. If there is no Collective Bargaining Agreement or Participation Agreement, your
Contribution Date is the first date an Employer makes Contributions on your behalf. Your
Contribution Date may change after a Permanent Break in Covered Employment.
6
Section 5: Vesting and Pension Credit
Plan Credit Year
A Plan Credit Year is the period of 12-consecutive calendar months from October 1 of any
year through September 30 of the next year. The Plan Credit Year is used to determine
vesting and benefit accrual.
Vesting Service and Pension Credit are Different
Vesting Service
A year of Vesting Service is any Plan Credit Year in which you earn at least 1,000 Hours of
Work in Covered Employment after your Contribution Date. Vesting Service is used to
determine your eligibility for a vested benefit and to avoid Breaks in Covered Employment.
Pension Credit
Pension Credit is a combination of Past and Future Service Credit. Pension Credit is used
to determine your eligibility and monthly pension benefit amount.
Past Service Credit is credit for periods of employment in the Boilermaker trade prior to
your Contribution Date. Future Service Credit is credit for periods of employment in
Covered Employment on and after your Contribution Date.
Vesting for Benefits
You vest for Plan benefits if you:

Were a Plan Participant before December 31, 1988, have not worked any hours
since then, and have accumulated at least ten years of Vesting Service.

Are a Plan Participant, have at least one Hour of Work in Covered Employment after
December 31, 1988, and have five years of Vesting Service.

Are a Plan Participant, have at least one Hour of Work in Covered Employment and
you reach Normal Retirement Age.
Credit Earned for Work Performed before Contribution Date
Work in the Boilermaker trade before your Contribution Date may entitle you to Past
Service Credit. If your participation in the Plan started before January 1, 1998, your Past
Service Credit will be based on your employment with any Employer(s) who had a
Collective Bargaining Agreement with the International Brotherhood of Boilermakers or one
7
of its Local Lodges. If your participation started after January 1, 1998, your Past Service
Credit will be based solely on your employment with the Employer for whom you were
working on your Contribution Date.
Past Service Credit
Past Service Credit is usually based on work in the trades of Boilermaker, Blacksmith,
Forger, or Helper or work in field construction, railroad and shipbuilding or shop work for
any Employer. For work to count, it must be in a bargaining unit that was at any time
represented by the Union. Work performed in the unit before Union representation will
count. If for some reason Union representation of the unit ended, work after the end of
Union representation will not count towards Past Service Credit.
Figuring Past Service Credit
You are entitled to a year of Past Service Credit for each calendar year you were employed
for 1,200 hours. During years you were employed for less than 1,200 hours, you will
receive ¼ year of Past Service Credit for each 300 hours. You do not receive additional
Past Service Credit for years you had more than 1,200 hours.
Limits on Past Service Credit
You may receive a maximum of one full credit per calendar year. If you first became a
Participant in the Plan before January 1, 1998, you may receive a maximum of 25 years of
Past Service Credit. If you first became a Participant in the Plan on or after January 1,
1998, or rejoined the Plan after a Permanent Break in Covered Employment on or after
January 1, 1998, you may receive a maximum of 15 years of Past Service Credit. If you
began participation in the Plan on or after October 1, 2003, Past Service Credit will not
count toward eligibility requirements for early retirement benefits payable before you reach
age 65 unless you also have at least 6,000 Hours of Work in Covered Employment.
Information the Plan Considers to Determine Past Service Credit
The Board of Trustees may, in its discretion, consider and rely on relevant evidence,
including but not limited to, records and statements of Employers, union membership, the
Social Security Administration, and any health and welfare fund to which Contributions
were made on your behalf.
Future Service Credit
Work performed after your Contribution Date is Future Service Credit.

If you have 1,200 Hours of Work in Covered Employment, you will receive one year
of Pension Credit.
8

If you work less than 1,200 Hours of Work in Covered Employment, you will receive
¼ year of Pension Credit for each 300 Hours of Work in Covered Employment. If you
work more than 1,200 Hours of Work in Covered Employment, you will receive ¼
year of Pension Credit for each 300 Hours of Work in Covered Employment in
excess of 1,200.
9
Section 6: Breaks in Covered Employment
Permanent Break in Covered Employment before January 1, 1976
Before January 1, 1976, you had a Permanent Break in Covered Employment if you failed
to work 1,000 hours in Covered Employment during any period of three whole consecutive
Plan Credit Years. However, the Permanent Break in Covered Employment did not cancel
your Pension Credits if you met requirements for a Basic, Early Retirement, Disability, or
Alternative Vested Pension or if you reached age 62 before the Break.
Permanent Break in Covered Employment after 1975 through September
30, 1985
After September 30, 1975, you had a One Year Break in Covered Employment in any Plan
Credit Year during which you failed to complete at least 500 hours of service. You had a
Permanent Break in Covered Employment if you had consecutive One Year Breaks, if the
number of consecutive One Year Breaks equaled or exceeded your years of Vesting
Service and if at least one of the One Year Breaks occurred after September 30, 1975.
Permanent Break in Covered Employment on and after October 1, 1985
Beginning October 1, 1985, you have a Permanent Break in Covered Employment if you
have at least five consecutive One Year Breaks in Covered Employment and the number of
such consecutive One Year Breaks in Covered Employment equals or exceeds the years of
Vesting Service which you have previously accumulated.
Effect of a Permanent Break in Covered Employment
If you have a Permanent Break in Covered Employment, you stop being a Participant in the
Plan. Your Pension Credit and years of Vesting Service are cancelled. Contributions made
by your Employer on your behalf are forfeited. However, if you meet the eligibility
requirements for Past Service Credit, you may be eligible for credit based on hours worked
in the period before your Permanent Break in Covered Employment.
Grace Periods
A grace period extends the time you have to earn the required hours. You may be eligible
for a grace period if you did not earn the required credit for specific reasons. A grace period
does not add to Pension Credit.
10
Grace Periods after September 30, 1975
Your record may be protected if you did not earn 500 hours of work in a Plan Credit Year
for specific reasons.
Non-Covered Employment Credit (NCEC) may be used to meet the 500 hour test to avoid
a One-Year Break in Covered Employment. NCEC does not add to your Pension Credit or
benefit accrual. NCEC is granted for work or leave of absence as follows:

Work in non-covered employment if the non-covered employment comes
immediately before or after Covered Employment with the same Employer and
occurs while the Employer participates in the Pension Plan.

Work in a supervisory position with a contributing Employer which excludes the
individual from the bargaining unit represented by the Union.

Work outside the United States of America in the Boilermaker trade with a
contributing Employer or an employer affiliated with a contributing Employer.

Work as a full-time salaried officer or assistance of a Local Lodge which does not
elect to become a contributing Employer.

Work for an Employer signatory to a Collective Bargaining Agreement with the Union
which did not require Contributions to this Plan.

Military service in the Armed Forces of the United States for up to five years of
service, or longer period during which the individual has employment rights with a
contributing Employer pursuant to Federal law, if:
▫
The individual was a Participant in the Plan before the military service.
▫
The discharge was not dishonorable.
▫
The Participant returns to Covered Employment within the applicable time
period after release from active duty. See Section 10 for more information.

Work as a Coordinator for an Area Apprenticeship Committee established and
operating under the Agreement and Declaration of Trust governing the Boilermakers
Area Apprenticeship Funds.

Work in the Boilermaker trade with a state, county, municipality, or political
subdivision thereof which does not make Contributions to this Trust.

Periods of disability for which the Participant receives worker’s compensation
benefits or is paid for the hours of disability for an injury incurred while working in
Covered Employment with an Employer.

Beginning on or after October 1, 1987, a Participant may be granted NCEC if the
Participant was absent from Covered Employment due to parental leave. Parental
leave is if the Participant is absent from work in Covered Employment because of:
▫ Pregnancy
▫
Birth of his or her child
11
▫
Placement of a child for adoption with the Participant
▫
Caring for a child of the Participant during the period immediately following
the birth or placement for adoption, including the time involved for a trial
period prior to adoption.
NCEC for parental leave as described above will be granted in the Plan Credit Year of
the absence or, if the Participant already has 500 or more hours during that Plan Credit
Year, in the Plan Credit Year immediately following the absence.
To be granted NCEC, you must notify the Board of Trustees in writing, and submit written
evidence as required by the Board.
You Can Only Incur a Permanent Break in Covered Employment before
Vesting for Benefits
You are only subject to a Permanent Break in Covered Employment if you have not yet
vested for benefits. Rules regarding Permanent Breaks in Covered Employment do not
apply if you are vested for benefits.
Your Pension Statement Reflects Permanent Breaks in Covered
Employment
If you have Permanent Breaks in Covered Employment, they will be reflected in your
Annual Pension Statement.
12
Section 7: Pension Benefits
There are several types of Pension benefits available through the Plan. To receive any
benefit from the Plan, you must do all of the following:

Meet the eligibility requirements

Separate from service, if you are younger than Normal Retirement Age. This means
that, at the time of your retirement, you both:
▫
Terminate your employment relationship with any and all Employers
contributing to the Plan
▫
Have the present intent to refrain from returning to work for any such
contributing Employer

Get an application for benefits from the Fund Office

Sign the application for benefits in front of a notary public

▫
Application must be signed and notarized on the same day
▫
Notary public must include his or her seal or stamp
File your completed, notarized application for benefits with the Fund Office
No benefit will be paid without a signed, notarized application being submitted to the Fund
Office. For a complete list of required documents to submit with your Pension Application,
refer to Section 8.
Pension Types
There are Age, Early Retirement, and Disability Pensions. All Pensions are calculated by
first figuring the Basic Pension.
Basic Pension
The standard pension is the Basic Pension. A Basic Pension is the benefit amount
determined by a formula using the Contributions made on your behalf. The Basic Pension
provides the foundation to calculate your pension which then may be adjusted by age,
Pension Credits, and payment options.
13
Eligibility for a Basic Pension
You may receive a Basic Pension if you meet at least one of the following:


You are at least age 65 and have at least 1,000 Hours of Work in Covered
Employment. The 1,000 hour work requirement will be waived if all the following are
met:
▫
You have at least 15 years of Pension Credit
▫
You have had a Contribution made on your behalf
▫
You become totally and permanently disabled after your Contribution Date
You have reached Normal Retirement Age.
The Basic Pension Amount if Your First Hour of Work is before October 1, 2008
If payment of your pension benefit is starting on or after October 1, 2003, the monthly
amount is equal to:
1. 51.5% of the total Contributions made on your behalf for Plan Credit Years before
October 1, 2003, divided by 12 plus
2. 33% of the total Contributions made on your behalf for Plan Credit Years beginning
on or after October 1, 2003, and before October 1, 2008, divided by 12 plus
3. 33% of the total Regular Contributions made on your behalf for Plan Credit Years
beginning on or after October 1, 2008, divided by 12
Example 1: You retire as of July 1, 2003, and y ou have total Contributions c redited on
your behalf of $45,000.00. The first step is to multiply $45,000.00 by 51.5%, whic h
equals $23,175.00. The sec ond step is to divide $23,175. 00 by 12, which equals
$1,931.25. This is the monthly amount of your Basic Pension.
Example 2: Now assume you retire as of July 1, 2006, with Contributions on your behalf
up until your Annuity Starting Date. Your benefit will be determin ed in two segments .
Assume the total Contributions on your behal f that accumulated through Se ptember 30,
2003, are $45,000.00, and the total Contributions on your behalf beginning October 1,
2003, through your Annuity Starting Date ar e $10,500.00. The monthly benefit would be
calculated as follows: 51.5% of $45,000.00 equals $2 3,175.00 and 33% of $10,500.00
equals $3, 465.00. The sum of t hese two amounts is $26,640.00, which, divided by 12,
equals $2,220.00. This is the monthly amount of your Basic Pension.
14
If your first Hour of Work is on or after October 1, 2008, the monthly amount of the Basic
Pension is equal to:
1. 25% of the total Regular Contributions made on your behalf and attributable to your
first 18,000 Hours of Work in Covered Employment, divided by 12 plus
2. 33% of the total Regular Contributions made on your behalf and attributable to your
Hours of Work in Covered Employment after your first 18,000 hours, divided by 12
Example: Your first Hour of Work is afte
r October 1, 2008, and yo
u have tot al
Contributions credited on your behalf for t he first 18,000 Hours of Work in Cover
ed
Employment of $25,000. 00. You have total Contributions credited on your behalf for
Hours of Work in Covered Em ployment a fter the 18,000 Hours of Work in Covered
Employment through your Annuity Starting Date of $10,000.00. The monthly benefit
would be calculated as follows: 25% of $25,000.00 equals $6 ,250.00 and 33% of
$10,000.00 equals $3,300.00. T he sum of these two amoun ts is $9,550.00, which
divided by 12, equals $795.83. This is the monthly amount of your Basic Pension.
Adjustment of Benefits for Delayed Retirement
Effective as of October 1, 1989, if your Annuity Starting Date is after your Normal
Retirement Age, your monthly benefit shall be the greater of:

The benefit payable at your Annuity Starting Date based on all Pension Credit
earned.

The accrued benefit at your Normal Retirement Age actuarially increased for each
complete calendar month between your Normal Retirement Age and your Annuity
Starting Date for which benefits were not suspended. The actuarial increase is 1%
per month of the first 60 months after your Normal Retirement Age and 1.5% for
each month thereafter.
This amount will be converted on the Annuity Starting Date to the benefit payment form you
elect on your Pension Application or the applicable automatic form if no other form is
elected.
Past Service Pension
A Past Service Pension is based on Past Service Credit. There are two types of Past
Service Pension: Regular Past Service Pension and Special Past Service Pension.
Eligibility for a Regular Past Service Pension
You may be eligible for a Regular Past Service Pension if you meet requirements for a
Basic Pension, and have at least 15 years of Pension Credit, including both Past and
Future Service Credit. If you elect an Early Retirement Pension and your first Hour of Work
in Covered Employment was on or after October 1, 2003, the Regular Past Service
15
Pension will only be payable if you have also performed at least 6,000 Hours of Work in
Covered Employment.
Eligibility for a Special Past Service Pension
If you meet requirements for a Basic Pension, but have less than 15 years of Pension
Credit, including both Past and Future Service Credit, you will be entitled to a Special Past
Service Pension provided you meet all requirements below:



During the five year period immediately before your Contribution Date, you were
compensated for at least 3,000 Hours of Work in either:
▫
A job classification of the type now included in any Collective Bargaining
Agreement or
▫
By a contributing Employer
During the five year period immediately before your Contribution Date, you were
compensated for at least 1,000 Hours of Work, out of the 3,000 Hours of Work
required above either:
▫
In a collective bargaining unit at any time represented by the Union or
▫
By a contributing Employer
Contributions on your behalf began within two years immediately following your
Contribution Date
Regular Past Service Pension Amount
For pensions effective on and after October 1, 1998, the Regular Past Service Pension will
be equal to:
1. The number of years of your Past Service Credit multiplied by
2. The product of 30 times the Average Contribution Factor
If you are in a collective bargaining unit which first became covered by the Plan after July 1,
1968, the product cannot be greater than $7.50.
If you first began participation on or after January 1, 1998, the multiplier is the product of
ten times the Average Contribution Factor. No Past Service credit will be granted if your
Average Contribution Factor is less than $0.25. The product cannot be greater than $7.50.
The Average Contribution Factor
The Average Contribution Factor is the number obtained by dividing the total Contributions
made for you during all Plan Credit Years beginning with the first whole Plan Credit Year
after the Contribution Date and before February 1, 2009, and the Regular Contributions
made for you after January 31, 2009, by the total number of hours reported by Employers.
16
If your Contribution Date was before October 1, 1963, the period to be used in figuring your
Average Contribution Factor will begin on October 1, 1963.
Time Period
Maximum Past Service
Pension Credit Allowed
Maximum* Average
Contribution Factor
Fixed
Multiplier
Contribution Date
before July 1, 1968
25 Not
Contribution Date on
or after July 1, 1968 &
Participant before
January 1, 1998
25 $0.25
30
Participant on or after
January 1, 1998
15 $0.75
10
Applicable
30
* This is only the maximum Average Contribution Factor. The actual Average Contribution Factor may be lower.
Past Service Credit Calculation - Contribution Dates Prior to July 1, 1968
Example: Brenda Boilermaker’s Contribution Date was on December 1, 1964, and she
has 25 years of Past Servic e Credit. The Average Contribution Factor is $0. 40. What is
the monthly amount of Brenda’s Regular Past Service Pension?
25 years Past Service Credit x $0.40 Average Contribution Factor x 30 Fixed Multiplier =
$300.00 Regular Past Service Pension per month for Brenda
Past Service Credit Calculation - Contribution Dates on or after July 1, 1968 and
before January 1, 1998
Example: Bobby Boilermaker’s Contribution Date was May 1, 1992, and he has 25
years of Past Servic e Credit. T he Average C ontribution Factor is $0.25. What is the
monthly amount of Bobby’s Regular Past Service Pension?
$187.50 Regular Past Service Pension per month for Bobby
Past Service Credit Calculation - Contribution Dates on or after January 1, 1998
Example: Brad Boilermaker’s Contribution Date was April 1, 1999, and he has 15 years
of Past Service Credit. The Av erage Contribution Fact or is $0.75. What is the monthly
amount of Brad’s Regular Past Service Pension?
$112.50 Regular Past Service Pension per month for Brad
17
Special Past Service Pension Amount
The Special Past Service Pension is calculated by considering your age at the time
Contributions were first received on your behalf and the Contribution amount received in
the first two years of your participation in the Plan. The monthly Special Past Service
Pension will be the applicable amount from the tables on the following pages, divided by
12.
Age = Age of Employee when Contributions first started for you
2-Year Contribution = Contributions during the two-year period following the month
Contributions first started for you
Pension = Annual amount of Special Past Service Pension
Age
73 and over
68 to 72
63 to 67
2-Year Contribution
Pension
$30 to $59.99
$60.00
$60 and over
$120.00
$40 to $79.99
$60.00
$80 and over
$120.00
$80 to $159.99
$60.00
$160 and over
$120.00
18
Age = Age of Employee when Contributions first started for you
2-Year Contributions = Contributions during the two-year period following the month
Contributions first started
Pension = Annual amount of Special Past Service Pension
Age of
Employee
50 to 62
Pension
Two-Year Contributions
$100.00 - $199.99
$60.00
Two-Year Contributions
$200.00 or more
$120.00
49 $56.00
$112.00
48 $52.00
$104.00
47 $48.00
$96.00
46 $44.00
$88.00
45 $40.00
$80.00
44 $36.00
$72.00
43 $32.00
$64.00
42 $28.00
$56.00
41 $24.00
$48.00
40 $20.00
$40.00
39 $16.00
$32.00
38 $12.00
$24.00
37 $8.00
$16.00
36 $4.00
$8.00
35 and under
$0.00
$0.00
For purposes of column two in each of the tables, only Regular Contributions will be
included for periods on or after February 1, 2009.
19
Early Retirement Pension
Eligibility for an Early Retirement Pension
To qualify for an Early Retirement Pension, you must meet all of the following
requirements:

Be at least age 55, but younger than age 65.

Have at least 15 years of Pension Credit, including both Past Service Credit and
Future Service Credit. If your first Hour of Work in Covered Employment is on or
after October 1, 2003, your Past Service Credit will only be considered towards
eligibility for the Early Retirement Pension if you have at least 6,000 Hours of Work
in Covered Employment.

Have at least 1,000 Hours of Work in Covered Employment credited to your account.

Have filed a written application for benefits.
Early Retirement Pension Amount
Your monthly Early Retirement Pension will be calculated by taking the amount of the Basic
Pension and Past Service Pension to which you would be entitled at age 65 and adjusting
that amount based on your age, Pension Credit, and when you performed your first Hour of
Work (before or after October 1, 2008). The following examples and charts illustrate how
the adjustments work.
If Your First Hour of Work was before October 1, 2008:
Age on Effective Date of Pension
Pension
Credits
55
56
57
58
59
60
61
62
63
64
65
15-24
49% 55% 61% 67%
73%
79% 85% 91% 94% 97%
100%
25-29
58% 64% 70% 76%
82%
88%
100% 100% 100%
100%
30-34
82% 88% 94% 100%
100% 100% 100% 100% 100% 100%
100%
35+
91% 94% 97% 100%
100% 100% 100% 100% 100% 100%
100%
94%
Percentages in the table represent the portion of the Pension you will receive, not the reduction amount.
20
Your monthly amount will be calculated based on your age.
15-24 Pension Credits
Age 62-65
Your monthly amount is reduced by 0.25% for each month you are younger than age 65,
but not younger than age 62.
Less than Age 62
Your monthly amount is reduced by 0.5% for each month you are younger than age 62 on
the effective date of your Early Retirement Pension.
Age 62 or More
Your monthly amount will be equal to the amount of the Basic Pension and Past Service
Pension you would be entitled to at age 65.
Less than Age 62
Your monthly amount is reduced by 0.5% for each month you are younger than age 62 on
the effective date of your Early Retirement Pension.
30-34 Pension Credits (If Your Pension was Effective on or after October 1, 2001)
Age 58 or More
Your monthly amount will be equal to the amount of Basic Pension and Past Service
Less than Age 58
Your monthly amount will be reduced by 0.5% for each month you are younger than age 58
on the effective date of your Early Retirement Pension.
35 or More Pension Credits (If Your Pension was Effective on or after October 1, 2001)
Age 58 or More
Less than Age 58
Your monthly amount will be reduced by 0.25% for each month you are younger than age
58 on the effective date of your Early Retirement Pension.
21
Example: Bridget Boilermaker’s First Hour of Wo rk in Covered Employm ent was in
January of 1975. Bridget will have 36 Pension Credits when s he retires on August 1,
2010, six months after her 55 th birthday. Her nonreduced monthly retirement benefit is
$3,500 per month. Because she will have 36 Pension Credits, her monthly retirement
benefit must be reduced by 0.25% for each mont h she is retired prior to age 58. At the
time of her retirement, she is 30 months
short of a ge 58. As a result, her monthly
pension benefit must be reduced by a total of 7.5%. He r monthly pension benefit will be
$3,237.50, after it is reduced by $262.50 ($3,500 x 0.075 = $262.50).
If Your First Hour of Work was on or after October 1, 2008:
Age on Effective Date of Pension
Pension
Credits
55
56
57
58
59
60
64%
61
15-24
40% 46% 52% 58%
25-29
58% 64% 70% 76% 82% 88% 94% 100%
30+
82% 88% 94% 100%
62
63
64
65
70% 76% 82% 88% 94% 100%
100% 100% 100%
100% 100% 100% 100% 100% 100%
100%
Percentages in the table represent the portion of the Pension you will receive, not the reduction amount.
Your monthly amount is reduced by 0.5% for each month you are younger than age 65.
Age 62 or Older
Pension you would be entitled to if your were 65 years of age on the effective date of your
Early Retirement.
Less than Age 62
22
30 or More Pension Credits
Age 58 or Older
Pension you would be entitled to if you were 65 on the effective date of your Early
Retirement Pension.
Less than Age 58
Example: Brandon Boilermaker is a new Participant w ho’s first Hour of Work in Cov ered
Employment was on January 1, 2009. Brandon will have 36 Pension Credits when he
retires six months after his 55 th birthday. His nonreduced monthl y retirement benefit is
$3,500 per month. Because he will have 36 Pensio n Credits, his monthly retirement
benefit must be reduced by 0.50% for each mont h that he is ret ired prior t o age 58. At
the time of his retirement, he is 30 months
short of age 58. As a result, his monthly
pension benefit must be reduced by a total of 15%. His m onthly pension be nefit will be
$2,975.00, after it is reduced by $525.00 ($3,500 x 0.15 = $525.00).
Vested Pension
Eligibility for a Vested Pension
A Vested Pension is a Pension for former Employees who incurred a Break in Covered
Employment and may be eligible for a Pension based on the Plan rules in effect at the time
of the Break in Covered Employment.
If Your Break in Covered Employment Occurred before January 1, 1976
Your eligibility for a Vested Pension is determined by Pension Plan rules in effect before
January 1, 1976.
If Your Break in Covered Employment Occurred between January 1, 1976 and October 1,
1989
You are eligible for a Vested Pension if you have credit for at least ten years of Vesting
Service.
If Your Break in Covered Employment Occurred on or after October 1, 1989
You are eligible for a Vested Pension if you have credit for at least five years of Vesting
Service and have at least one Hour of Work in Covered Employment after December 31,
1988, or you have credit for at least ten years of Vesting Service. A Vested Pension will be
payable after you have retired, have filed a written application for benefits with the Fund
Office, and after you either:
23

Have reached Normal Retirement Age

Have reached age 55 if you have fulfilled the service requirements for an Early
Retirement Pension
Vested Pension Amount
If Your Break in Covered Employment Occurred before January 1, 1976
Your Vested Pension amount is determined by Pension Plan rules in effect before January
1, 1976.
If Your Break in Covered Employment Occurred on or after January 1, 1976
Your Vested Pension amount, if you have reached Normal Retirement Age, is calculated
the same way as the Age Pension. If payment of your Vested Pension starts before your
Normal Retirement Age but after age 55, and you have met the service requirements of an
Early Retirement Pension, the Vested Pension is calculated the same way as the Early
Retirement Pension.
Alternative Vested Pension
Eligibility for an Alternative Vested Pension
An Alternative Vested Pension may be available if you do not meet requirements for a
Vested Pension. You must meet at least one of the following requirements to be eligible for
an Alternative Vested Pension:

If you incur a Break in Covered Employment when you have at least ten years of
Future Service Credit, you are entitled to an Alternative Vested Pension beginning
on the first day of the month after your 65th birthday, if you meet requirements for
advance application.

If you incur a Break in Covered Employment when you have at least 15 years of
Pension Credit, including at least ten years of Future Service Credit, you will, upon
application, be entitled to an Alternative Vested Pension following the date you reach
age 55. Regardless of age, if you are permanently and totally disabled and are
awarded a Social Security Disability Benefit under Title II of the Social Security Act,
Social Security Supplemental Income Award, a Railroad Retirement Annuity
because of disability under the Railroad Retirement Act, or a disability award from
the Canadian Pension Plan offered by the Department of Human Resources and
Skills Development, your Alternative Vested Pension may become payable. The
amount of monthly Alternative Vested Pension will be adjusted for the earlier benefit
start date.
Alternative Vested Pension Amount
The monthly Alternative Vested Pension amount will be equal to:
24

The Basic Pension and Regular or Special Past Service Pension, if any, you would
receive if you were age 65, based upon the multiplier factor in effect at the time of
your Break in Covered Employment multiplied by

The following percentage appropriate to the years of Future Service Credit you have
accumulated at the time you incur the Break in Covered Employment:
Years of Future
Service Credit
Percentage
10
50% 16 80%
11
55% 17 85%
12
60% 18 90%
13
65% 19 95%
14 70%
15
75%
Years of Future
Service Credit
Percentage
20
100%
Not Applicable
Not Applicable
If you met the eligibility requirements for an Alternative Vested Pension and return to
Covered Employment, your Pension, upon your later retirement from, or termination of,
Covered Employment, will be:

The Alternative Vested Pension amount which had been established for you at the
time of your Break in Covered Employment plus

The Basic Pension amount earned as a result of Contributions credited to your
account after your return to Covered Employment
Disability Pension
If you become totally and permanently disabled before age 65, a Disability Pension may be
available to you.
Disability Pension Eligibility
You are entitled to a Disability Pension if you are totally and permanently disabled before
reaching age 65 and if you meet all of the following Disability Pension requirements:

You are awarded one of the following:
▫
Social Security Disability Benefit under Title II of the Social Security Act
▫
Social Security Supplemental Income Award for disability
25
▫
Railroad Retirement Annuity because of disability under the Railroad
Retirement Act
▫
Canadian Pension Plan disability benefits offered by the Department of
Human Resources and Skill Development

You have at least 1,000 Hours of Work in Covered Employment*.

You have at least 120 Hours of Covered Employment in the Plan Credit Year you
become totally and permanently disabled or in the Plan Credit Year immediately
before you become totally and permanently disabled if you are filing an application
after October 1, 2008.

You have provided the Fund Office with:

▫
A written application for benefits.
▫
A copy of your disability benefits Notice of Award from the Social Security
Administration, Railroad Retirement Board, or the Canadian Pension Plan
offered by the Department of Human Resources and Skills Development.
If your first Hour of Work in Covered Employment is on or after October 1, 2008, you
must have at least ten years of Future Service Credit. If your first Hour of Work was
before October 1, 2008, you do not have to meet this requirement.
*This does not include the Hours of Work in Covered Employment after your Entitlement Date. This requirement will be waived if all
of the following are met:
▫ Your first Hour of Work in Covered Employment is before October 1, 2003
▫ You have at least 15 years of Pension Credit
▫ At least one Contribution has been made on your behalf
▫ You have become permanently and totally disabled after your Contribution Date
▫ You meet all the other requirements for Disability Pension listed
Disability Pension Application
Application for a Disability Pension must be in writing on a form in the manner required by
the Board of Trustees. All information the Trustees consider necessary must be provided
and addressed to the Fund Office.
Disability payment continues as long as your disability continues and you remain entitled to
a Social Security, Railroad Retirement Disability Benefit, or Canadian Pension Plan
Disability Benefit. When you turn 65, your Pension will continue regardless if you are totally
and permanently disabled.
Disability Pension Amount and Form of Payment
The monthly Disability Pension amount will be equal to the Basic Pension and Regular or
Special Past Service Pension amount, if any, you would receive if you were 65 at the time
you became totally and permanently disabled.
The form of payment for a Disability Pension depends on your marital status on your
Disability Pension Annuity Starting Date.
26
Disability Pension Form of Payment – Married
This section contains general information about a Disability Pension. There are additional
requirements that apply to all Husband and Wife forms of payment. Please refer to Section 9.
Automatic Form
If you are married your Disability Pension will automatically be paid as a 50% Husband and
Wife Pension unless you specifically reject this form of payment.
A Disability Pension paid as a 50% Husband and Wife Pension is calculated by multiplying
the pension amount by 82%, then taking that result and either subtracting 0.4% for each
year your Spouse’s age is less than your age, or adding 0.4% for each year your Spouse’s
age is greater than yours. The resulting percentage will not be greater than 100 percent.
50% Husband and Wife Per each year your Spouse is
younger than you
Pension
Pension Amount x 82%
- 0.4% x years younger
Per each year your Spouse is
older than you
+ 0.4% x years older
Optional Forms
You may reject the automatic form of a 50% Husband and Wife Pension and elect either
the 75% Husband and Wife Pension or the 100% Husband and Wife Pension.
If you elect the 75% Husband and Wife Pension, the pension amount is multiplied by 75%,
then 0.5% is subtracted from that result for each year your Spouse is younger than you, or
0.5% is added to that result for each year your Spouse is older than you. The resulting
percentage will not be greater than 100 percent.
younger than you
Pension
older than you
If you elect the 100% Husband and Wife Pension, the pension amount is multiplied by 67%,
then 0.5% is subtracted from that result for each year your Spouse is younger than you, or
0.5% is added to that result for each year your Spouse is older than you. The resulting
percentage will not be greater than 100 percent.
27
100% Husband and
Wife Pension
younger than you
older than you
If you are married and want to receive your benefits in a Single Life Annuity form, you must
have your Spouse’s written consent. Refer to Section 9 for information on the Single Life
Annuity Options. Please note the reduction factors for the Single Life Annuity 120-Months
Certain are different for a Disability Pension.
When Your Spouse Receives Payment
If your Disability Pension Annuity Starting Date was before July 1, 1988, your surviving
Spouse may begin receiving payment on the later of:

The first month after your death

The first of the month after you would have turned 55
If your Disability Pension Annuity Starting Date was on or after July 1, 1988, your
surviving Spouse will begin receiving payment starting the first of the month after your
death.
Disability Pension Form of Payment – Unmarried
Automatic Form - Single Life Annuity 60-Months Certain
A Single Life Annuity pays a lifetime monthly pension for you, with monthly benefits
stopping at your death. Under the Plan’s automatic form of payment, the Single Life Annuity
60-Months Certain, you will receive a minimum of 60 monthly pension payments. If you die
before you have received 60 monthly payments, the balance of the payments will be
distributed to your designated Beneficiary until a total of 60 payments have been made to
you and your Beneficiary.
Optional Form - Single Life Annuity 120-Months Certain
The Plan also offers an optional Single Life Annuity 120-Months Certain, which provides a
minimum of 120 monthly pension payments. This is an optional benefit form, and you must
elect to receive your benefits in this form. Please understand the monthly benefit amount
will be lower under the Single Life Annuity 120-Months Certain than the monthly benefit
amount paid under the Single Life Annuity 60-Months Certain because the guarantee
period is longer. Please note the reduction factors for the Single Life Annuity 120-Months
Certain are different for a Disability Pension.
28
Auxiliary Disability Benefit
You will be entitled to an Auxiliary Disability Benefit if:

Your Annuity Starting Date for your Disability Pension payments is after your
Entitlement Date. The Entitlement Date is the date you are entitled to start receiving
your Social Security Disability Benefit, Railroad Retirement Disability Benefit, or
Canadian Pension Plan Disability Benefit.

You filed your Disability Pension Application and Disability Award on time.
The Auxiliary Disability Benefit is an amount, payable in a lump sum, equal to the monthly
benefit which would have been payable under your Disability Pension (in the payment form
elected for that pension) between your Entitlement Date and the Annuity Start Date of your
Disability Pension.
A written application for benefits and a disability benefits Notice of Award from the Social
Security Administration, Railroad Retirement Board, or Canadian Pension Plan must be
filed with the Fund Office to be eligible for an Auxiliary Disability Benefit. Filed is defined as
the earlier of the legible postmark date or the date the Fund Office receives the application
and Notice of Award.
If an application is filed more than 90 days after the mailing date of the Notice of Award
issued by the Social Security Administration, Railroad Retirement Board, or Canadian
Pension Plan, an Auxiliary Disability Benefit will not be payable. However, if your disability
determination from the Social Security Administration, Railroad Retirement Board, or
Canadian Pension Plan is made on or after July 1, 2002, the 90 day rule does not apply
and you may be eligible for an Auxiliary Disability Benefit.
If You Lose Entitlement to a Disability Award
If you lose entitlement to a Social Security Disability Award, Railroad Retirement Disability
Award, or Canadian Pension Plan Disability Award, you must report it in writing and supply
a copy of your notice of termination from the Social Security Administration, Railroad
Retirement Board, or Canadian Pension Plan to the Board of Trustees within 60 days after
the date you receive your termination notice. Except as described below, if you lose
entitlement to disability benefits, you will not be eligible for Disability Pension benefits from
the Plan for any months after you lose entitlement.
If you do not notify the Board or do not supply the notice of termination to the Board within
60 days, a three month suspension of benefits will occur following the date of your later
retirement. The three months’ suspension of benefits will not extend beyond your Normal
Retirement Age.
29
If You Appeal the Loss of Entitlement
Award or Canadian Plan Disability Award and file an appeal, your Disability Pension under
the Plan may continue for up to four months if you:

Notify the Board of Trustees in writing.

Supply the Board with a copy of your termination notice from the appropriate agency
within 60 days after you receive the termination notice.

File your appeal with the appropriate agency within 60 days of the date of the notice
of termination.

Provide the Board of Trustees evidence that your appeal to the appropriate agency
has been filed on time.
After the four month period, your Disability Pension under this Plan will be discontinued
unless your Disability Award has been reinstated.
If the appeal to the appropriate agency results in reinstatement of your Disability Award,
you must file your reinstatement notice from the appropriate agency within 90 days of the
date on the notice. Your Disability Pension under this Plan will be reinstated on the
effective date of reinstatement of the Disability Award, minus the four continuation months,
if granted. If the reinstatement notice is filed more than 90 days after the date on the notice,
the Disability Pension under this Plan will be effective the first of the month after the date
the notice is filed with the Board of Trustees.
If You Return to Covered Employment and Remain Entitled to a Disability Award
Benefits under this Plan will not be suspended if you return to Covered Employment and
remain entitled to Social Security Disability, Railroad Retirement Disability, or Canadian
Pension Plan Disability Benefits.
You will continue to accrue benefits during Disability Trial Work. Disability Trial Work* is work
performed in Covered Employment after your Date of Entitlement to Disability Benefits. The
benefits attributable to Contributions accrued on or after October 1, 2002, for such Covered
Employment performed before Normal Retirement Age will be offset by the value of benefits
payable from the Plan for the period the Covered Employment was performed.
Benefits accrued before October 1, 2002, become payable with an Annuity Starting Date
established no earlier than Normal Retirement Age. Only one Annuity Starting Date may be
established after Normal Retirement Age.
Benefits accrued after October 1, 2002, become payable as of a new Annuity Starting Date.
Only one new Annuity Starting Date may be established in any Plan Credit Year. On the
new Annuity Starting Date, additional benefits accrued as Disability Trial Work you
performed after your preceding Annuity Starting Date, will begin to be paid.
*Trial Work is defined by the agency issuing your disability entitlement. If you want to return to work and still receive your disability
benefits, please verify Trial Work requirements with the appropriate agency.
30
If You Return to Covered Employment after Losing Entitlement to a Disability Award
Award, or Canadian Pension Plan Disability Award, you may re-enter Covered Employment
and resume benefit accrual under the Plan terms. You may be entitled to retirement
benefits under the Plan terms. These benefits are not affected by the fact you previously
received a Disability Pension.
Conditional Disability Pension
If you believe you are permanently and totally disabled, but have not yet received a Social
Security Disability Award, Railroad Retirement Disability Award, or Canadian Pension Plan
Disability Award, you may elect to begin receiving a Conditional Disability Pension,
provided you satisfy eligibility requirements for an Early Retirement Pension.
If you begin receiving a Conditional Disability Pension and are granted a Social Security
Disability Award, Railroad Retirement Disability Award, or Canadian Pension Plan Disability
Award with a date of entitlement before the start of your Conditional Disability Pension from
this Plan, or during the immediately following 12-month period, you can elect to receive a
Disability Pension, if you satisfy the eligibility requirements of a Disability Pension.
Conditional Disability Pension Amount
Your Conditional Disability Pension amount will initially be calculated and paid as an Early
Retirement Pension, including adjustments for form of payment. A pension calculated as an
Early Retirement Pension is generally lower than a pension calculated as a Disability
Pension.
After you are determined eligible for a Disability Pension, your benefit will be recalculated
as a Disability Pension. You will receive the amount of the Disability Pension and be
considered a Disability Pensioner. Although the benefit amount is recalculated, your form of
payment will remain the same.
If your Social Security Disability Award Entitlement Date, Railroad Retirement Disability
Award Entitlement Date, or Canadian Pension Plan Retirement Disability Award
Entitlement Date is later than the effective date of the Conditional Disability Pension, the
benefit amount will be adjusted to the Disability Pension amount beginning with the Social
Security Disability Award Entitlement Date, Railroad Retirement Disability Award
Entitlement Date, or Canadian Pension Plan Disability Award Entitlement Date and the
payments before that date will remain the same.
If your Social Security Disability Award Entitlement Date, Railroad Retirement Disability
Award Entitlement Date, or Canadian Pension Plan Disability Award Entitlement Date is
earlier than the effective date of the Conditional Disability Pension, you will be entitled to an
Auxiliary Disability Benefit.
31
If you elected to receive your Conditional Disability Pension with the Level Income Option,
when it is converted to a Disability Pension, the Plan will recover, by offset, the amount of
Level Income Option paid to you. See Section 9 for Level Income Option information.
When the change from a Conditional Disability Pension to a Disability Pension occurs, your
Annuity Starting Date and the form of payment elected as a Conditional Disability Pension
will not change.
Conversion of the Conditional Disability Pension to an Early Retirement Pension
Upon notification that you did not receive a Social Security Disability Award, Railroad
Retirement Disability Award, or Canadian Pension Plan Disability Award, the Conditional
Disability Pension will be automatically converted, retroactively, to the Annuity Starting Date
of the Conditional Disability Pension, to an Early Retirement Pension. This conversion will
only impact how your benefits are titled and classified by the Plan and will cause no change
in your monthly benefit.
If You Die before Receiving a Social Security Disability Award, Railroad Retirement
Disability Award or Canadian Pension Plan Disability Award
If you die before the date a notice of award for a Social Security Disability Award, Railroad
Retirement Disability Award, or Canadian Pension Plan Disability Award is received by the
Plan, you will be treated as an Early Retirement Pensioner regardless if you received a
Social Security Disability Award, Railroad Retirement Disability Award, or Canadian
Pension Plan Disability Award.
32
Section 8: Applying for Benefits
How to Apply for Benefits
To apply for Pension benefits you must fill out, sign in front of a notary public, and return
the Pension Application provided by the Fund Office. If you are married and electing a form
of payment other than a Husband and Wife Pension, your Spouse must also sign the
Pension Application in front of a notary public. A telephone call or other verbal request for
pension benefits will not be considered a claim for Pension benefits under the Plan.
If you have questions about the Pension Application, contact the Fund Office as soon as
possible. Once the Fund Office receives your Pension Application, we will send you a letter
acknowledging your application was received.
Time Line for Applying for Pension Benefits
Date
At least 180 days before
your Annuity Starting Date
Action
Decide on your Annuity Starting Date (the first day of
the month your pension benefits will be effective). Start
gathering the following documents:

Proof of Age – Birth certificate, baptismal
certificate, immigration papers, etc.

Proof of Marital Status – Marriage certificate,
divorce decree, etc.
180 to 90 days before your
Annuity Starting Date
Call or write the Fund Office and request a Pension
Application. Do not request an Application more
than 180 days before your Annuity Starting Date.
Do not get a Pension Application from anywhere
other than the Fund Office.
180 to 30 days before your
Annuity Starting Date
Fill out the Pension Application and all other forms
from the Fund Office. Get the documents needed to
process your Pension Application.
33
Date
Action
No later than the month
before your Annuity Starting
Date
Mail your Pension Application, and all required
documentation to the Fund Office no later than the
14th day of the month before your Annuity Starting
Date. Be sure to include all other forms sent to you
by the Fund Office. If you do not have several of the
documents the Fund Office requires, and expect to get
those documents in the next few days, you may want
to send in your application without the missing
documents. Be sure to send the required documents to
the Fund Office as soon as possible.
As soon as possible after
you receive a letter from the
Fund Office requesting
information or documents
If you receive a letter from the Fund Office requesting
additional information or documents, mail the
requested information or documents to the Fund Office
as soon as possible. If it is not possible to gather the
requested information or documents within 90 days
after the legibly postmarked date or the date you
delivered your Pension Application to the Fund Office,
contact the Fund Office and ask for additional time. If
you fail to respond to the Fund Office within the 90 day
period, your Pension Application will be denied.
Within 90 days from the
legibly postmarked date or
the day you delivered your
Pension Application to the
Fund Office
The Fund Office will send you a letter granting or
denying your Pension Application or stating there will
be an extension of time of up to 90 additional days to
grant or deny your Pension Application.
Within 150 days of the
the day you delivered your
Fund Office
If you received a letter from the Fund Office:

Requesting additional information or documents and

Stating there will be an extension of up to 90
additional days to grant or deny your Pension
Application
You must provide the Fund Office with all requested
information and documents within150 days after the
legibly postmarked date or the date you delivered your
Pension Application to the Fund Office.
Within 180 days of the
the date you delivered your
Fund Office
If the Fund Office did not previously grant or deny your
Pension Application (within the first 90 days of the
legible postmarked date or the day you delivered the
application to the Fund Office), the Fund Office will
send you a letter granting or denying your Pension
Application.
34
Date
Within 60 days after you
receive a letter from the
Fund Office denying your
Pension Application
Action
If your Pension Application is denied, you may file an
appeal of the denial with the Board of Trustees.
Explain why you think the decision was wrong and
provide documents that support your argument. If you
file an appeal after the 60-day period, your appeal will
be denied as untimely. If you chose not to file an
appeal, you lose the right to challenge the denial of
pension benefits for that particular Pension
Application. You may start the process over by filing a
new Pension Application with a new (later) Annuity
Starting Date.
When Your Application is Considered Filed
Effective January 1, 1999, an application for benefits will be considered filed on the earlier
of the date it is legibly postmarked or the date it is received by the Fund Office.
You are Required to Provide the Following Information
Your application must include proof of your age and marital status. We may need additional
information, depending on the type of benefit and form of payment you elect. The following
table describes the documents required for various forms of benefit payment. If you do not
provide necessary documents, your application and claim for benefits will be denied.
Form of Benefit Payment
All forms of benefit payment
Husband and Wife Pension
Documents Needed

Your birth certificate or other acceptable
proof of your date of birth

Proof of marital status*
The documents listed above, plus

Marriage certificate or other acceptable
proof of your marriage

Your Spouse’s birth certificate or other proof
of Spouse’s date of birth
35
Form of Benefit Payment
Disability Pension
Level Income Option
Documents Needed
The documents listed above, plus

A Social Security Notice of Award of
Disability Benefits or

A Railroad Retirement Notice of Award of
Disability Benefits or

An Award of Disability Benefits from the
Canadian Pension Plan offered by the
Department of Human Resources and Skills
Development
All documents listed in the first two boxes, plus

Current estimate of your Social Security
retirement benefit payable at Social Security
Normal Retirement Age
* Proof of Marital Status is a marriage certificate, a divorce decree, or if widowed, your Spouse’s death certificate.
You Can have Someone Help you Apply for Benefits
You may designate a person as your authorized representative to help you file a claim for
benefits or appeal a denied claim. To designate an authorized representative, you must
provide a written request to the Fund Office stating your name, Social Security number,
current address, and telephone number. You must also provide the name, current address,
and telephone number of your authorized representative. Your authorized representative
will then receive all communications and may take action regarding your benefit
claim. This means the Plan will send your authorized representative all documents and
communications that would otherwise be sent to you. Your authorized representative will
have authority to make all decisions regarding your claim for benefits.
You may revoke your designation of an authorized representative at any time by
providing written notice to the Trustees. The notice must contain your name, Social
Security number, correct address, and telephone number. You should also include the
name, correct address, and telephone number of the person who was serving as your
authorized representative.
If You Submit Incorrect Information to the Fund Office
In making decisions to approve or deny your claim for benefits, the Fund Office is entitled to
rely on written statements, consents and revocations submitted by you, your Spouse, or
other parties. This means the Fund Office will use all information you submit in processing
your application. Should you submit false statements or documents, the Pension Plan has
the right to recover benefit payments made in reliance on those false statements,
documents, or other false proof. Withholding important facts about your situation will be
36
considered false proof. The Fund Office has the unlimited right to recover benefit
payments, interest, and costs from you.
Payment of Benefits Accrued after an Initial Annuity Starting Date
How additional accrued pension benefits are determined depends on whether your initial
retirement effective date (Annuity Starting Date) occurred before or after you reach Normal
Retirement Age.
If Your Initial Annuity Starting Date Occurred before Reaching Normal Retirement Age
If your Annuity Starting Date occurred before you reach Normal Retirement Age, your
additional benefits are determined after you re-retire and submit a new Pension Application.
You will have a new Annuity Starting Date that applies only to the additional Pension
benefits you accrued. If you are married, any additional pension benefits you accrue will be
paid as a 50% Husband and Wife Pension unless you and your Spouse properly elect
another form of payment and reject the Husband and Wife Pension. You are limited to one
new Annuity Starting Date in any Plan Credit Year. The monthly pension payable upon the
new Annuity Starting Date will be reduced by the product of one percent and the total of the
Early Retirement Pension payments you received during your previous period(s) of
retirement and prior to Normal Retirement Age.
Remember, if you initially retired before reaching Normal Retirement Age, you must
submit a new Pension Application to apply for these additional pension benefits.
Example: Joe Boilermaker retired at age 60 and began receiving pension benefits
effective January 1, 2005, his initial Annuity Starting Date. On April 25, 2006, he
returned to full-time Covered Employment and began to accrue additional pension
benefits. Because the job he returned to was Disqualifying Employment, (see Section 16
for Disqualifying Employment information) his retirement benefits were suspended
starting May 1, 2006. Joe continued working in Covered Employment until November 30,
2007, when he let the Fund Office know he re-retired.
The monthly pension benefits Joe received after his first retirement were re-instated,
effective December 1, 2007. He must submit a new Pension Application for the Fund
Office to determine if he is entitled to additional benefits for the period from April 25,
2006, through November 30, 2007.
Your Initial Annuity Starting Date Occurred on or after Reaching Normal Retirement Age
If your initial Annuity Starting Date occurred on or after the date you reached Normal
Retirement Age, the benefit form you elected when you initially retired will apply to pension
benefits you accrued after you returned to Covered Employment. If, for example, when you
initially retired, you elected to receive your pension benefits in the 75% Husband and Wife
Pension form, the additional pension benefits you accrued during your return to Covered
37
Employment will also be paid out as a 75% Husband and Wife Pension. The additional
benefits you accrued during your return to Covered Employment will be calculated at the
end of each Plan Credit Year (September 30) and become payable effective October 1
following the end of the Plan Credit Year in which the benefits were accrued if you are no
longer working in Disqualifying Employment. If you continue to work in Disqualifying
Employment, your additional benefits will be paid after your retirement benefits are
reinstated.
Example: Jane Boilermaker retired at Normal Retirement Age and began receiving
pension benefits effective January 1, 2005, her initial Annuity Starting Date. On April 25,
2007, she returned to full-time Covered Employment and began to accrue additional
pension benefits. Because the job she returned to was Disqualifying Employment in
excess of 40 hours per month, her retirement benefits were suspended effective May 1,
2007, the month immediately after her return to Disqualifying Employment. Jane
continued working in Covered Employment until November 30, 2007, when she let the
Fund Office know she re-retired.
The monthly pension benefit Jane received from her first retirement was reinstated
effective December 1, 2007. The additional benefits she accrued from April 25, 2007,
through September 30, 2007, were also payable as of December 1, 2007. The additional
benefits Jane accrued in October and November 2007 are not payable until October 1,
2008, because they were accrued in the Plan Credit Year that started on October 1,
2007, and ended on September 30, 2008.
If You Never Apply for Benefits
If the Plan can locate you and you fail to file a timely application for benefits, your benefit
payments will begin on your Required Beginning Date. Your Required Beginning Date is
the date Federal law requires the Plan to begin paying out your pension benefit. Your
Required Beginning Date occurs on April 1 of the year following the calendar year in which
you reach 70 ½ years of age.
If You Receive Benefits to which You Were Not Entitled
If you work in Disqualifying Employment and receive a pension payment to which you were
not entitled, the Trustees may recover such payment amounts by deducting the
overpayment amount from your future monthly payments until the overpayment is fully
recovered. If you have reached Normal Retirement Age, the offset amount will be limited to
100% of the amount due to you for the first payment and 25% of the later monthly pension
payments, until all overpayments are fully recovered.
If for any reason other than work in Disqualifying Employment, you, your surviving Spouse,
or your Beneficiary receive a pension payment to which you, your surviving Spouse, or
Beneficiary were not entitled, the Trustees can deduct the entire overpayment amount from
any benefits due to you, your surviving Spouse, or your Beneficiary, until the overpayment
is fully recovered.
38
The Trustees have the right to recover an overpayment by means other than a deduction
from pension benefits. In other words, the Trustees can pursue other remedies, including
filing a lawsuit against you.
If You Become Unable to Handle Your Own Affairs
If you are unable to handle your own affairs due to mental or physical incapacity, payments
due will be paid to your legally-appointed guardian, the person to whom you granted a
power of attorney over your financial affairs, or other legal representative.
39
Section 9: Forms of Payment – Pension Benefits
The forms of payment/benefit discussed below apply only to pensions which became
effective on or after January 1, 1976. To receive any benefit from the Plan, you must file a
written application for benefits with the Fund Office.
How Your Pension will be Paid
If you are married, the automatic form of payment is the 50% Husband and Wife Pension. If
you are unmarried, the automatic form of payment is the Single Life Annuity 60-Months
Certain. There are also optional benefit forms available as detailed below.
Married Participants
50% Husband and Wife Pension — Automatic Form
The automatic benefit form is the 50% Husband and Wife Pension. Under this benefit form,
you will receive a lifetime monthly pension and, upon your death, your surviving Spouse will
also receive a lifetime monthly pension. Your surviving Spouse’s benefit following your
death will be equal to 50% of the monthly benefit you received during your lifetime. Your
benefit will automatically be paid in this form unless you choose a different benefit form.
75% Husband and Wife Pension — Optional Form
Under the 75% Husband and Wife Pension, your surviving Spouse’s benefit following your
death will be equal to 75% of the monthly benefit you received during your lifetime.
100% Husband and Wife Pension — Optional Form
Under the 100% Husband and Wife Pension, your surviving Spouse’s benefit following your
death will be equal to 100% of the monthly benefit you received during your lifetime.
Difference Between the Husband and Wife Pension Options
The total amount paid under each pension form is essentially the same value. However, the
monthly payments under each option will be different. When you receive your pension in a
Husband and Wife form, your lifetime monthly benefit is reduced to provide a lifetime
survivor pension for your surviving Spouse. If you choose to leave your surviving Spouse a
larger lifetime survivor pension such as the 75% or the 100% Husband and Wife form, it
reduces your lifetime monthly benefit amount.
40
How Your Benefits are Reduced for a 50% Husband and Wife Pension
For the 50% Husband and Wife Pension, the pension amount is adjusted by multiplying it
by 95% minus 0.4% for each year your Spouse’s age is less than your age or plus 0.4% for
each year your Spouse’s age is more than your age. Even if your Spouse is significantly
older, the resulting percentage is not allowed to be more than 100%.
Your pension will not be reduced for the 50% Husband and Wife Pension if you meet all the
following:

Your pension is effective on or after October 1, 2001

You have at least 30 years Pension Credit

You are at least age 58 when you retire
younger than you
Pension
older than you
Please refer to Section 7 for disability factors.
How Your Benefits are Reduced for the 75% and 100% Husband and Wife Pensions
For the 75% Husband and Wife Pension, your pension amount is adjusted by multiplying it
by 93% minus 0.6% for each year your Spouse’s age is less than your age or plus 0.6% for
each year your Spouse’s age is greater than your age.
younger than you
Pension
older than you
For the 100% Husband and Wife Pension, your pension amount is adjusted by multiplying it
by 90%, minus 0.7% for each year your Spouse’s age is less than your age or plus 0.7%
each year Spouse’s age is greater than your age.
younger than you
Pension
41
older than you
For both the 75% Husband and Wife Pension and the 100% Husband and Wife Pension,
the resulting percentage is not allowed to be more than 100%.
If You Don’t Want to Receive Your Benefits as a 50% Husband and Wife Pension
If you are married and want to receive your benefits in a 75% or 100% Husband and Wife
form, spousal consent is not required.
If you are married and want to receive your benefits in a Single Life Annuity form, you must
have your Spouse’s written consent. Your benefit election must designate a Beneficiary.
That Beneficiary election may not be changed without spousal consent. Additionally, your
Spouse’s written consent must acknowledge that your choice of a Single Life benefit form
will mean your Spouse will not receive a survivor pension. Your Spouse’s written consent to
the form provided by the Fund Office as part of the Pension Application must be witnessed
and authenticated by a notary public.
If You Cannot Locate Your Spouse
If you cannot locate your Spouse, you will be required to complete a form which
establishes, to the satisfaction of the Trustees, that your Spouse cannot be located.
When a Husband and Wife Pension is Not Effective
The Husband and Wife Pension is not effective under any of the following circumstances:

You and your Spouse were not married to each other on your Annuity Starting Date.

You and your Spouse were married to each other for less than a year before your
death.

Your Spouse died before your Annuity Starting Date or died before your death (if you
died before a pension was payable to you).

You and your Spouse were divorced from each other before your Annuity Starting
Date or before your death (if you died before a pension was payable to you).
If You Receive a Husband and Wife Pension and Your Spouse Dies before You
If your pension began on or after October 1, 1997, under a Husband and Wife form, and
your Spouse dies before you, your monthly benefit will be increased to the amount that
would have been payable in the form of a Single Life Annuity 60–Months Certain.
If you provide the Fund Office with your Spouse’s certified Death Certificate within 12
months of your Spouse’s death, your pension may be increased the first of the month after
your Spouse’s death.
If you provide the Fund Office with your Spouse’s certified Death Certificate more than 12
months following your Spouse’s death, your pension may be increased for the first of the
month after the date the certified Death Certificate was received by the Fund Office. You
42
will not receive retroactive payments covering the period between your Spouse’s date of
death and the date the certified Death Certificate was received.
If you are eligible for an increased monthly pension upon your Spouse’s death, be sure to
send your Spouse’s certified Death Certificate to the Fund Office as soon as possible.
If You Receive your Pension in a Husband and Wife Form and You and Your Spouse
Get Divorced after Your Retirement
If you receive your pension in a Husband and Wife form and you and your Spouse divorce
after your retirement, your ex-Spouse will still be entitled to receive a lifetime monthly
pension upon your death. You may not change your benefit form, or name another person
to receive the lifetime survivor pension, on or after your Annuity Starting Date. More
information about divorce and your pension can be found in Section 15 of this booklet.
Unmarried Participants
Single Life Annuity 60-Months Certain—Automatic Form
A Single Life Annuity pays a lifetime monthly pension for you, with monthly benefits
stopping at your death. Under the Plan’s automatic form of payment, the Single Life Annuity
with 60-Months Certain, you will receive a minimum of 60 monthly pension payments. If you
die before you have received 60 monthly payments, the balance of the payments will be
distributed to your designated Beneficiary until a total of 60 payments have been made to
you and your Beneficiary.
Single Life Annuity 120-Months Certain—Optional Form
The Plan also offers an optional Single Life Annuity 120-Months Certain, which provides a
minimum of 120 monthly pension payments. This is an optional benefit form, and you must
make an election to receive your benefits in this form. Please understand the monthly
benefit amount will be lower under the Single Life Annuity 120-Months Certain than the
monthly benefit amount paid under the Single Life Annuity 60-Months Certain because the
guarantee period is longer.
All Participants
Level Income Option—Optional Form Available to Married and Unmarried Participants
If your pension becomes effective on or after October 1, 2001, and you are receiving any
pension other than a Disability Pension, you have the option to receive your benefits under
the Level Income Option.
The Level Income Option is intended to level out the benefits you receive during your
retirement. It pays you more than your normal pension payments up until the time you are
43
eligible to begin your Social Security payments and less than your normal pension payment
once your Social Security payments begin.
Benefits Adjusted under the Level Income Option
The benefit adjustment amount will be determined by multiplying a factor by your estimated
Social Security benefit at age 65, 66, or 67, whichever is closest to your Social Security
Normal Retirement Age as defined by the Social Security Administration.
The factor will be based on your age at retirement and on your Social Security Normal
Retirement Age. The factors come from certain interest rates set by the Federal
government and are subject to change from year to year, so the factors are not included in
this booklet. The Fund Office can provide you a sample calculation of the benefits you
would receive under this option.
Reaching Social Security Normal Retirement Age
Once you reach Social Security Normal Retirement Age, your benefits from the Plan are
reduced by the estimated Social Security benefit which was used in the initial calculation of
your Plan benefit.
If You Don’t Apply for Social Security Benefits When You Reach Social Security
Your Plan benefits will be reduced once you reach Social Security Normal Retirement Age,
regardless of whether you have actually applied for and begun receiving Social Security
benefits.
You Do Not Have to Elect a Certain Benefit Form to Choose the Level Income Option
You may select the Level Income Option along with any form of payment the Plan provides
except the Disability Pension. Your monthly benefit under your chosen benefit form will be
calculated and then adjusted for the Level Income Option.
If You Elect the Level Income Option and Die before Reaching Social Security
If you are receiving your benefit in one of the Husband and Wife forms, your Spouse will
continue to receive the Level Income Option upon your death. However, the amount your
Spouse receives will be adjusted based on the level of Husband and Wife benefit selected
(i.e. 50%, 75%, 100%). That amount will be reduced on the date you would have reached
Social Security Normal Retirement Age.
If you are receiving your benefit as a Single Life Annuity with either 60-Months or 120Months Certain, and you die before receiving the guaranteed number of payments, the
remaining payments to your Beneficiary will be reduced in an amount equal to the net
amount of Level Income Option payments paid to you divided by the number of remaining
payments. If the total benefit amount paid to you before your death is greater than the face
44
value of the benefits due under your chosen benefit form without application of the Level
Income Option, no benefit will be payable to your Beneficiary.
How to Elect an Optional Form of Payment
If you wish to receive your benefit in an optional form of payment (the 75% Husband and
Wife, the 100% Husband and Wife, the Single Life Annuity 120-Months Certain, or the
Level Income Option) you must elect on your Pension Application the form of payment you
prefer. You must elect your form of payment during the 180-day period which ends on your
Annuity Starting Date. You may revoke an earlier election if you do so within the same 180day period. You cannot change your election on or after your Annuity Starting Date.
Example: Jane Boilermaker is eligible to retire and wishes to do so on January 1,
2008. She is unmarried and wishes to have her monthly pension benefit paid under
the 120-Months Certain Payments Option. She may file the written election of the 120Months Certain Payments Option anytime during the 180-day time period from July 5,
2007, through January 1, 2008. If, for example, she files the written election of the
120-Months Certain Payments Option on September 27, 2007, she may revoke that
election anytime from that date through January 1, 2008.
The Fund Office Will Send You Information Explaining Your Payment Options
The Plan is required to furnish a detailed explanation of available forms of payment no
more than 180 days before your Annuity Starting Date and no less than 30 days before
your Annuity Starting Date. Your Annuity Starting Date may occur before the end of the 30
day period if you receive the explanation before electing a form of payment, you elect and
your Spouse (if any) consents to a form of payment, and you are informed you have a right
to at least 30 days to consider whether to reject the Husband and Wife Pension and to elect
another form of payment.
If you request a Pension Application too early and the information explaining optional forms
of payment is sent to you more than 180 days before your Annuity Starting Date, the
Annuity Starting Date you requested may not be possible. Your Annuity Starting Date will
not occur until after a timely explanation of the forms of payment is provided to you. Your
benefit payments cannot start before the expiration of the seven day period after the written
explanation of benefits is provided to you.
Other Distributions
Small Amounts
If the value of the benefit payable to you is a small amount, it will be paid in a lump sum.
Currently, the small amount value is $5,000.00. The small amount value is set by law and is
subject to change.
45
Eligible Rollover Distributions
 You may request the Plan to directly roll over a benefit of $500.00 or more to an IRA
or Eligible Retirement Plan, if the benefit qualifies as an Eligible Rollover
Distribution. The Plan will not roll over a benefit of less than $500.00.
The following Pension benefits may not be rolled over:

Substantially equal periodic payments over your life (or life expectancy) or joint lives
(or joint life expectancies) of you and your Beneficiary; or over a scheduled period of
at least ten years or

Required Minimum Distributions after age 70 ½
Prior to the payment of an Eligible Rollover Distribution, Federal law requires the Fund
Office to provide you with a timely notice explaining your rollover options and the tax
consequences associated with each rollover option. You should consult with your own
financial and/or tax advisor when evaluating any rollover options you may have.
Mandatory Benefit Payments
You must receive or begin receiving your benefits from this Plan as of your Required
Beginning Date: April 1 of the calendar year following the year you reach age 70½.
Additionally, following your death, any benefits payable to your Beneficiary must satisfy the
Plan’s minimum distribution requirements. For more information on required minimum
distributions, please contact the Fund Office.
46
Section 10: Service in the Uniformed Service
Pension Credit during Periods of Uniformed Service
If you perform Uniformed Service, vesting, benefits, and service credit will be provided as
required by the Uniformed Services Employment and Re-Employment Rights Act of 1994,
(USERRA), the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEROES), and
other relevant laws and regulations.
Types of Uniformed Service Covered
Covered Uniformed Service includes:

Active and reserve military training and service

Military fitness exams

Funeral honors duty

National Guard service under Federal authority (being called up for active duty or for
training)

Service in the commissioned corps of the Public Health Service

Attending a military service academy

Participating in a ROTC active or inactive duty training program

Service performed as an intermittent disaster response appointee upon activation of
the National Disaster Medical System
USERRA does not cover National Guard duty under state orders, for example disaster
relief, riots or similar duties.
Earning Pension Credit during Uniformed Service
You can receive up to five years of Future Service Credit, if your period of Service in the
Uniformed Service began within a reasonable period of time after your last Hour of Work in
Covered Employment and if, upon your release from military service, you reapply or report
for work in Covered Employment within the time period specified in USERRA. You are not
entitled to USERRA rights if your Uniformed Service is longer than five cumulative years.
This means your current period of service and prior periods cannot total more than five
years. There are certain exceptions to the five-year limit. Check with the Fund Office if your
cumulative service has exceeded five years.
You will receive up to five years of Past Service Credit provided your period of Service in
the Uniformed Services started within a reasonable time after the last Hour of Work in
47
Covered Employment provided you reapplied or reported for work in Covered Employment
within the time period provided under USERRA.
You will receive one year of Future Service Credit for each full year of Service in the
Uniformed Service (1,200 hours), up to a maximum of five years. If you have less than a
year of Service in the Uniformed Service the Future Service Credit amount you receive will
be prorated based on the 1,200 hours/one-year standard.
When Your Service in the Uniformed Service Must Begin
Your service in the Uniformed Service must begin within a reasonable time after your last
Hour of Work in Covered Employment. In deciding what is a reasonable time, the Pension
Plan will consider any reasonable period to rest, any reasonable period to ensure you are
fit for duty, any reasonable period to put your affairs in order, any delay in the beginning
date of your service or a cancellation of your mobilization due to no fault of your own, and
other relevant circumstances.
Discharges or Dismissals that Disqualify You from Receiving Credit
during Uniformed Service
You will not receive credit for your period of Uniformed Service if you leave Uniformed
Service with:

A dishonorable or bad conduct discharge

A discharge under “other than honorable conditions”

A dismissal by sentence of a general court-martial or a commutation of a sentence
of a general court-martial, if you are a commissioned officer or

A dismissal or “drop from the rolls” because of an absence without authority for at
least three months, imprisonment after a court-martial or imprisonment in a Federal
or state correctional institution, if you are a commissioned officer
If you receive a retroactive upgrade of your discharge status, you will be entitled to certain
USERRA rights.
Reporting to Work
You will forfeit the right to earn Future Service Credit under USERRA if you do not report to
work by the deadlines specified by USERRA following the completion of your Uniformed
Service. You will be considered to have reported to work if you:

Report to work for the last Employer you worked for before your Uniformed Service
or for any other Employer who contributes to the Pension Plan

Apply for re-employment with the last Employer you worked for before your
Uniformed Service or with any other Employer who contributes to the Pension Plan
48

Perform one or more Hours of Work in Covered Employment or

Register for work on an out of work list or similar list with any Boilermakers hiring hall
Deadlines for Reporting to Work
The deadline for reporting to work depends on how long you were in the Uniformed
Service, as follows:
Period of Uniformed Service
Report to Work / Apply for Re-Employment /
Perform Hour of Work / Register for Work
Less than 31 days
Report to work at the beginning of the first
regularly scheduled work period on the day
following the completion of your Service, after
allowing for safe travel home and an eight-hour
rest period. If that deadline is unreasonable or
impossible through no fault of your own, you must
report to work as soon as possible.
More than 30 days but less than
181 days
Report to work within 14 days after completion of
your Service. If that deadline is unreasonable or
impossible through no fault of your own, you must
report to work on the first full day it is possible to
do so.
More than 180 days
Report to work within 90 days after completion of
your Service.
Any period if for the purposes of
an examination for fitness to
perform Uniformed Service
Report to work by the beginning of the first
regularly scheduled work period on the day
following the completion of your Service, after
allowing for safe travel home and an eight-hour
rest period. If that deadline is unreasonable or
impossible through no fault of your own, report to
work as soon as possible.
Any period if you were
hospitalized for or are
convalescing from an injury or
illness incurred or aggravated
as a result of your Service.
Report to work as provided above depending on
the length of your service period. However, time
periods begin when you have recovered from your
injuries or illness rather than upon completion of
your Service. The maximum period for recovering
is limited to two years from the date you
completed your Service but may be extended if
circumstances beyond your control make it
impossible or unreasonable for you to report to
work within the above time periods.
49
Documentation You Must Submit to the Fund Office upon Your Return
Make sure you notify the Fund Office of your Uniformed Service following the date you
report for work, apply for re-employment, perform an Hour of Work, or register with the
hiring hall. You must provide the Fund Office with documentation of the beginning and
ending dates of your service and the character of your discharge, separation, or dismissal
from Uniformed Service. This will usually be a Form DD214. The Fund Office will send a
written request for the documentation upon receiving notice that you may qualify for
Uniformed Service credit.
Vesting Service
You will be credited with one hundred hours of service for Vesting Service purposes for
each calendar month of Service in the Uniformed Service up to a maximum of five years.
Break in Covered Employment
You will be credited with sufficient hours of service to avoid a Break in Covered
Employment for up to five years of Service in the Uniformed Service if your period of
Uniformed Service began within a reasonable period of time after your last Hour of Work in
Covered Employment and if, upon your release from military service, you reapply or report
for work in Covered Employment within the time period specified in USERRA.
Figuring a Contribution Rate for the Period of Uniformed Service
Your Contribution rate will be based on the average rate of Contributions during the 12
months immediately before your military service or the average rate of Contributions during
the 12 months immediately before and the 12 months immediately after your service. The
Plan will base your Contribution rate on the higher of these average rates.
Payment of Contributions
The Contributions for your period of Uniformed Service are considered an expense of the
Plan and are not charged back to your Employer.
Death or Disability during Uniformed Service
If you cannot request re-employment after your service because of death or you become
disabled as a result of your Uniformed Service, the Plan will treat you as if you had made a
request for re-employment as of the day before the date of death or disability and then
terminated employment on the date of death or disability. In other words, you will be
granted all applicable USERRA benefits even though you did not come back to work.
50
Section 11: Death Benefits
Plan death benefits vary based on if you die before or after retirement.
Death before Retirement
If You Die before Vesting
If you die before you have vested for benefits, and you have not incurred a Permanent
Break in Covered Employment, the total Contributions credited to your account, up to a
maximum of $15,000.00, will be paid in a lump sum to your designated Beneficiary. If the
lump sum payment amount would be less than one hundred dollars ($100.00), no death
benefit will be payable. If you have previously had a Permanent Break in Covered
Employment, Contributions made before the Permanent Break will not be payable.
If You are Not Married and Die after Vesting
If you have vested for benefits, but die before receiving a pension under the Plan, your
Beneficiary will be entitled to 60 monthly payments in an amount equal to the monthly
pension you would have received had you retired upon your date of death. If you are under
age fifty-five at the time of death, the monthly benefit will be calculated as if you were age
fifty-five on the date of your death.
Calculated Benefit is Less than the Contributions which were Credited to Your Account
If the benefit due to you is less than the total amount of Contributions credited to your
account, then a lump-sum payment equal to the total amount of those Contributions, up to
a maximum of $15,000.00, will be made to your designated Beneficiary. This amount will
be in place of, not in addition to, the 60 monthly payments.
Death during the Waiting Period for a Disability Pension
If you are entitled to a Disability Pension, have completed an application for a Disability
Pension which is received by the Fund Office, and you die during the waiting period for
your Disability Pension, or if you die before you begin receiving benefits from the Plan but
after becoming entitled to Social Security Disability benefits, Railroad Retirement Disability
benefits, or Canadian Pension Plan Disability benefits, the benefit will be calculated as if
you had retired on a Disability Pension on the date of death, if that calculation provides a
greater monthly benefit.
If you are entitled to an Auxiliary Disability Benefit, your Beneficiary will be entitled to
receive the Auxiliary Disability Benefit which would have been payable to you. See Section
7 for more information on Disability Pensions.
51
Death as a Result of Workplace Injury Incurred during Covered Employment
If you die before Normal Retirement Age within 90 days of a workplace injury incurred while
working in Covered Employment, and your death is a direct result of that injury, the monthly
benefit amount payable to your Beneficiary will be calculated as if you were age 65 on the
date of your death.
Previous Periods of Retirement
If you previously had periods of retirement, benefits you received during those periods will
be deducted from the total value of the monthly payments due to your Beneficiary.
If You are Married and Die after Vesting (Qualified Pre-Retirement Survivor Annuity)
If you are married and vested for benefits, have worked in Covered Employment at least
one hour since August 22, 1984, and die before retirement, your surviving Spouse can
apply for and receive a Qualified Pre-Retirement Survivor Annuity (QPSA) at any time
following your death. The QPSA is the Survivor Annuity portion of a 50% Husband and
Wife Pension. Your surviving Spouse may elect to defer this benefit, but must begin
receiving payment no later than December 1 of the calendar year in which you would have
reached age 70 ½, or if later, December 1 of the calendar year following the year of your
death.
Timeframe for your Surviving Spouse to Apply for QPSA Benefit
An application for the QPSA filed by your surviving Spouse will be considered timely if it is
filed within 24 months following your death. Unless your Spouse elects to postpone
receiving benefits, payment to your Spouse will be effective the first month after your death
occurred. If the application is filed more than 24 months following your death, your
Spouse’s benefit will begin the first of the month after the filing date of the application.
Benefit Amount for Your Surviving Spouse
The monthly benefit amount payable to your surviving Spouse under the QPSA will be
calculated as if you had retired on a 50% Husband and Wife Pension on the day before
your death. If you are younger than age 55 on the date of your death, the benefit will be
calculated as if you were age 55 on the date of your death.
Waiving the QPSA for Your Surviving Spouse
You and your Spouse may choose to waive the automatic QPSA coverage in writing,
before your death. The election period you may waive this benefit begins on the first day of
the Plan Credit Year in which you reach age 35 and ends on the date of your death. If you
become vested for benefits and then separate from service prior to the beginning of this
election period, the election period will begin on the date you separated from service. Once
you reach the period the benefit may be waived, the Plan will provide you with a written
explanation of this benefit and how it may be waived.
52
Death during the Waiting Period for a Disability Pension
If you are entitled to a Disability Pension, have completed an application for a Disability
Pension which is received by the Fund Office, and you die during the waiting period for
your Disability Pension, or if you die before you begin receiving benefits from the Plan but
after becoming entitled to Social Security Disability, Railroad Retirement Disability, or
Canadian Pension Plan Disability benefits, the benefit will be calculated as if you had
retired on a Disability Pension on the date of death, if that would provide a greater monthly
benefit.
If you would have been entitled to an Auxiliary Disability Benefit, your Spouse will be
entitled to receive 50% of the Auxiliary Disability Benefit which would have been payable to
you. See Section 7 for more information on Disability Pensions.
Death as a Result of Workplace Injury Incurred during Covered Employment
If you die before Normal Retirement Age within 90 days of a workplace injury incurred while
working in Covered Employment, and your death is a direct result of that injury, the monthly
benefit amount payable to your surviving Spouse will be calculated as if you were age 65
on the date of your death.
Death after Retirement
When you die following retirement, the benefit amount, if any, payable to your survivor(s) is
based on the benefit option selected at the time of retirement.
If You Elect a Single Life Annuity 60-Months Certain
If you die before receiving a total of 60 monthly pension payments from the Plan, monthly
pension payments will continue to your Beneficiary until a total of 60 payments have been
made to you and your Beneficiary.
If You Elect a Single Life Annuity 120-Months Certain
If you die before receiving a total of 120 monthly pension payments from the Plan, monthly
pension payments will continue to your Beneficiary until a total of 120 payments have been
made to you and your Beneficiary.
If you Elect any Form of Husband and Wife Pension
If you die while receiving your pension benefit in the form of a Husband and Wife Pension,
the person you named as your Spouse on the Pension Application will receive a monthly
benefit for the rest of his or her life. The monthly benefit amount will be based on the type
of Husband and Wife Pension you elected.

If you elected a 100% Husband and Wife Pension, your Spouse’s benefit will be equal to
the monthly benefit you received during your lifetime.
53

75% of the monthly benefit you received during your lifetime.

50% of the monthly benefit you received during your lifetime.
Lump-Sum Post-Retirement Death Benefit
If you have retired, are receiving pension benefits, and die on or after October 1, 2001, a
death benefit of $6,000.00 will be paid to your designated Beneficiary, if you are receiving a
pension based on at least ten years of Pension Credit. If you first began participation in the
Plan on or after January 1, 1998, ten years of Future Service Credit are required to qualify
for the Post-Retirement Death Benefit.
This lump-sum benefit is in addition to benefits that may be due based upon the benefit
option you elected at retirement. This benefit is not payable unless you are retired and
entitled to monthly benefits.
54
Section 12: Designation of Beneficiary
You may designate a Beneficiary to receive benefits remaining at your death by completing
the Designation of Beneficiary Form provided by the Fund Office. No change in your
designation of Beneficiary is effective or binding unless the original Designation of
Beneficiary Form is received in the Fund Office before your death.
If Your Spouse is Your Beneficiary and You Become Divorced
If your marriage is dissolved by divorce, your designation of your Spouse as Beneficiary will
be voided as of your divorce date. Your ex-Spouse can only be your Beneficiary if you redesignate your ex-Spouse as Beneficiary following your divorce. If a Qualified Domestic
Relations Order (QDRO) has been entered by the divorce court and accepted by the Plan,
the QDRO may take precedence over your Beneficiary designation.
If You Do Not Designate a Beneficiary
If you do not designate a Beneficiary, or if you designate a Beneficiary who dies before you
do, benefits will be paid according to the following order of precedence:
1. First, to your surviving Spouse.
2. If you do not have a surviving Spouse, then benefits will be paid to your surviving
children.
3. If there are no surviving children, then benefits will be paid to your surviving
grandchildren.
4. If there are no surviving grandchildren, then benefits will be paid to your surviving
parents.
5. If you do not have surviving parents, then benefits will be paid to your surviving
brothers and sisters.
6. If there are no surviving brothers or sisters, benefits will be paid to your estate.
The persons listed in this order of precedence must file a Beneficiary Declaration Form to
receive payment. This is not the same as a Designation of Beneficiary Form.
If Your Beneficiary Dies before Receiving all Payable Benefits
If your Beneficiary dies after your death, any benefits payable following your Beneficiary’s
death will be payable according to your order of precedence. Any benefits payable to your
Beneficiary before the Beneficiary’s death will be considered payable to the Beneficiary’s
estate. Only benefits which first become payable after the Beneficiary’s death will be paid
under your order of precedence.
55
How Benefits Due to You at the Time of Your Death Will be Paid
Benefits owed to you at the time of death, such as payments due for past months, will be
payable to your estate rather than to your Beneficiary.
If the Plan Cannot Find You or Your Beneficiaries
The Plan will make diligent efforts to find missing Participants or named Beneficiaries.
However, the Plan will not attempt to locate potential beneficiaries under the order of
precedence.
If death benefits (other than benefits due under a Husband and Wife Pension, QPSA, or
Single Life Annuity 60/120 Months Certain) are payable to a designated Beneficiary or
under the order of precedence, and no party comes forward to claim the benefit by
December 31 of the calendar year containing the fifth anniversary of your death, the benefit
will be deemed abandoned and forfeited to the Trust. No person has any right to receive a
benefit, with respect to your pension benefits, after December 31 of the calendar year
containing the fifth anniversary of your death if no claim, request, or application for the
benefit was made before that date.
No death benefit will be paid to a person or his or her estate if you or your Beneficiary’s
death is caused by the person’s intentional felonious conduct.
If You are Divorced, Your Ex-Spouse may Have a Right to Benefits
Your ex-Spouse will have a right to some or all of your benefits if those rights have been
established by a Qualified Domestic Relations Order (QDRO). For more information on
QDROs, see Section 15. The rights of your ex-Spouse or other family member to any share
of your benefit, as stated in a QDRO, take priority over any claims of the Beneficiary at the
time of your death. If you become divorced after your Annuity Starting Date, you cannot
change your benefit election made at retirement. Your ex-Spouse remains entitled to a
survivor benefit if you and your Spouse elected a Husband and Wife benefit option.
56
Section 13: Pension Benefit Limits
Dollar Limits
Internal Revenue Code Section 415 and Plan rules place a dollar limit on the annual
amount of pension benefits the Boilermaker-Blacksmith National Pension Trust (the Plan) is
allowed to pay to a Participant. The dollar limit that applies to you will depend on many
factors such as your age at retirement, the form of benefit elected, and your number of
years of plan participation. However, the starting point for determining the applicable dollar
limit is the standard annual dollar limit issued by the Internal Revenue Service (IRS). The
standard annual dollar limit usually changes each year. For 2010, the standard annual
dollar limit is $195,000 per year.
Most Participants will not be affected by the annual dollar limit when they retire. We
are providing this information to help you with retirement planning.
Dollar Limit Reductions
The IRS standard annual dollar limit applies to a benefit paid in the form of a single life
annuity, under which a pensioner receives a monthly benefit for his life with no guaranteed
number of payments, and with no survivor benefit. This Plan does not offer this form of
benefit. The benefit forms offered by the Pension Plan are more valuable than a single life
annuity. Therefore, the Plan adjusts the dollar limit to the actuarial equivalent of the
standard annual dollar limit for a single life annuity.
Under Plan rules the standard annual dollar limit is reduced if:

You receive a benefit form other than a single life annuity

You start receiving pension benefits before your Social Security Normal Retirement
Age (SSNRA), if your employer is not a tax-exempt organization*

You start receiving pension benefits before age 62, if your employer is a tax-exempt
organization, or

You have less than ten years of Plan participation
*Note: The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) changed the actuarial reduction for early retirement
(applicable to employers that are not tax-exempt organizations) so that the dollar limit is reduced for benefit commencement prior to age
62, rather than for benefit commencement prior to a participant’s Social Security Normal Retirement Age. However, the BoilermakerBlacksmith National Pension Trust has not adopted this change. Therefore, the Plan continues to apply the pre-EGTRRA actuarial
reductions for early retirement.
Reduction for Benefit Form
The Plan reduces the dollar limit for any benefit form you receive from the Pension Plan.
Even the automatic benefit form if you are not married, a Single Life Annuity with 6057
Months Certain, is more valuable than a single life annuity because the 60-Months Certain
feature guarantees benefits will be issued for the specified number of months to you, or, if
you die, to a Beneficiary.
Example: If your Social Security Normal Retirement Age is 65 and you start
receiving benefits in the first month following your 65th birthday, the 2009 dollar
limit is $193,188 ($16,099 per month) if you receive the Single Life Annuity 60Months Certain. The dollar limit is $187,871 ($15,655.91 per month) if you elect a
Single Life Annuity 120-Months Certain. The standard annual dollar limit is
reduced from the $195,000 maximum for 2009 because the 60-Months and 120Months Certain guarantees make these forms of benefit more valuable than a
straight single life annuity with no guarantee.
The 50%, 75% and 100% Husband and Wife Pensions are also more valuable than a
single life annuity because these forms of benefit are actuarially equivalent to a Single Life
Annuity 60-Months Certain and because your surviving Spouse continues to receive a
percentage of your monthly benefit after your death. However, the Internal Revenue Code
provides an exception for Husband and Wife Pensions; the dollar limit is not decreased to
take into account the actuarial value of the surviving Spouse portion of the benefit.
Adjustment of Dollar Limit for Early or Late Retirement
The $195,000 standard annual dollar limit for 2010 is also reduced if you retire before your
Social Security Normal Retirement Age (SSNRA) (if you work for an employer which is not
a tax-exempt organization), or if you retire before age 62 (if you work for a tax-exempt
organization such as a Local Lodge). Likewise, the dollar limit is increased if you retire late.
Participants born before 1938 have a SSNRA of 65. If you were born in the years 1938
through 1954, your SSNRA is 66. If your date of birth is after 1954, your SSNRA is 67.
Cost of Living Adjustment
Keep in mind the IRS usually raises the standard annual dollar limit each year because of
inflation. For example, the standard annual dollar limit was $175,000 in 2006, $180,000 in
2007, and $185,000 in 2008. The standard annual dollar limit increased $5,000 each of
those years. For 2009, the standard annual dollar limit increased by $10,000 to $195,000.
The standard annual dollar limit was not increased for 2010.
If your pension benefit is limited, then before the beginning of each calendar year, the Fund
Office will determine whether your pension benefit can be increased to reflect the increase,
if any, in the IRS’s standard annual dollar limit. This means if, on your retirement date, your
accrued benefit exceeded the applicable annual dollar limit, your benefit limitation might
increase each year until the point in the future when your accrued benefit under the
Pension Plan is equal to or less than the applicable annual dollar limit, as adjusted for cost
58
of living increases. In calculating the annual cost of living adjustment, your age as of the
date you retired is used in each of the following years.
Plan Adjustment
When the Plan reviews the IRS cost of living adjustment, we also review other factors that
can impact the dollar limit including, but not limited to, changes in the mortality tables.
No Employer-by-Employer Testing for Benefits Accrued after 2007
Before 2008, the IRS allowed the Pension Plan to apply the dollar limits on an Employerby-Employer basis. Under Employer-by-Employer testing, a Participant’s total accrued
benefit was allowed to exceed the applicable dollar limit, so long as no portion of the benefit
attributable to any single Employer exceeded that dollar limit.
Under new IRS rules, effective for benefits accrued after 2007, a Participant’s total benefit
from all Employers must not exceed the applicable dollar limit. The IRS made an exception,
however, for Participants who start receiving pension benefits after December 31, 2007.
Under the IRS’s grandfather rule, the Fund Office is allowed to pay the greater of: 1) the
benefits accrued by a Participant before 2008 (using Employer-by-Employer testing) or 2)
the Participant’s total benefits, as reduced after applying the applicable dollar limit to the
Participant's total benefit from all Employers. Under this method, Participants will get the
benefit of Employer-by-Employer testing for all benefits accrued before 2008.
Because the grandfather rule only applies to benefits accrued before 2008, you cannot
avoid dollar limit problems by starting work for a different Employer in 2008 or later.
59
Example: Maria Boilermaker has a total annual accrued benefit of $102,000. This
means if the Fund Office was allowed to pay Maria her annual accrued benefit, she
would receive monthly pension payments of $8,500.00. Maria worked for three
Employers during her career as a Boilermaker. Her annual accrued benefit from the
Contributions made by those Employers is:
Employer A -
$ 80,000.00 -
Before 2008
Employer B -
$ 12,000.00 -
Before 2008
Employer C -
$ 10,000.00 -
During 2008, 2009 and 2010
Maria began receiving pension payments under the Single Life Annuity 60-Months
Certain in August 2010 after reaching age 55. The dollar limit that applied to Maria is
$82,211.00. Under the grandfather rule for benefits accrued before 2008, the dollar limit
is applied on an Employer-by-Employer basis. Because the benefits Maria accrued from
Employers A and B are each less than $82,211.00, Maria is entitled to receive all of
those benefits even though the $92,000.00 in total benefits accrued from Employers A
and B is more than the 2010 dollar limit of $82,211.00.
However, benefits accrued after 2007 may not be used when applying the grandfather
rule. As a result, the Fund Office may not pay Maria the $10,000 benefit based on 2008,
2009 and 2010 Contributions from Employer C. The grandfather rule does help Maria by
allowing her to receive a larger benefit ($92,000.00) than she would otherwise be able to
receive if the 2010 dollar limit ($82,211. 00) was applied to her total benefit from all
Employers, but the Fund Office cannot pay Maria her total accrued benefit of $102,000.
Maria may eventually be able to receive her full $102,000.00 annual accrued benefit if
annual cost of living adjustments raise the dollar limit above that amount.
Remember, you cannot avoid dollar limit problems by starting work for a different Employer
in 2008 or later because the grandfather rule only applies to benefits accrued before 2008.
Practical Suggestions for Dollar Limits
If you suspect you may face a dollar limit, you may request a pension estimate from the
Pension Plan. If possible, inform the Pension Plan of the date you are considering retiring
and provide your current marital status and your Spouse’s date of birth if applicable. The
Pension Plan will estimate your monthly pension benefit based on your total accrued
benefits as of the date of your request. We can tell you what your dollar limit will be if you
plan on retiring in the year you request the estimate. However, we cannot tell you the dollar
limit for later years because each October or November, the IRS issues the standard
annual dollar limit for the following year.
Start planning your retirement now by working with a qualified tax or retirement consultant.
Remember, dollar limits are one of many factors to consider in determining which benefit
form and retirement age is best for you.
60
Section 401(a)(17) Compensation Limit
Internal Revenue Code Section 401(a)(17) limits your annual compensation amount during
each Plan Credit Year that the Plan may consider in calculating your accrued benefit. For
Plan Credit Years beginning on or after October 1, 2009, the Section 401(a)(17) annual
compensation limit is $245,000. However, the Section 401(a)(17) annual compensation
limit is subject to cost of living adjustments and could change in the future.
61
Section 14: Claims and Appeals
Claim Filing
Any dispute as to eligibility, type, amount, duration of benefits or as to any right or claim to
payments from the Plan will be resolved by the Plan’s Board of Trustees or its designated
representative. No action may be brought for benefits or rights under the Plan until after the
claim has been submitted to and determined by the Board of Trustees or its designated
representative, and the denial has been upheld on review by the Board of Trustees or a
designated Committee of Trustees possessing authority to make a final decision on appeal.
You may initiate a claim by filing a completed and signed application form furnished by the
Fund Office. You may pursue a benefit claim through an authorized representative.
If Your Claim for Benefit is Denied
If your claim is wholly or partially denied, the Plan Administrator will provide you with written
denial notification no later than 90 days after the Plan receives the claim, unless special
circumstances require an extension of time for processing the claim. You will receive
notification of any extension. No extension will be more than 90 days.
A written denial notice includes:

The specific reason or reasons for denial.

Reference to the Plan provisions on which the decision is based.

A description of additional material or information required to complete your claim
along with an explanation of why the additional material or information is necessary.

A description of the Plan’s appeal procedures and a statement of your right to bring
a lawsuit under ERISA if your claim is denied on appeal.
How to File an Appeal
All appeals must be in writing. You may file an appeal by mailing or delivering to the Fund
Office a letter which states you wish to appeal the denial of your claim for pension benefits
and the reasons you believe you are entitled to the benefit or why you think the Pension
Department made a mistake in denying your claim. You may include written comments,
documents, records, or other information relating to your benefit claim that you wish to be
considered by the Trustees in deciding your appeal.
If you are appealing a decision on a claim for Pension or Death Benefits, your appeal
must be received within 60 days of your receipt of the denial notice. If you fail to file
your appeal within 60 days, your claim will not be reviewed by the Appeals Committee.
62
When Your Appeal is Reviewed and Decided
The Appeals Committee of Trustees, reviews and decides all appeals at scheduled
quarterly meetings. The appeal will be addressed no later than the first meeting following
the Fund Office’s receipt of the appeal. However, if the appeal was received within the 30
days before the scheduled quarterly meeting, the Appeals Committee will decide the
appeal no later than the second regularly scheduled meeting following the Fund Office’s
receipt of the appeal, unless there are special circumstances requiring further extension of
time, in which case a benefit determination will be rendered not later than the third quarterly
appeals meeting following the Trustees’ receipt of the notice of appeal. If such an extension
of time is required because of special circumstances, the Fund Office will notify you in
writing of the extension, describing the special circumstances and the date as of which the
benefit determination will be made.
Information the Appeals Committee Considers
The Appeals Committee takes into account all comments, documents, records, and other
information you submit regarding your claim. The Appeals Committee will fully and fairly
review your claim and make an independent decision.
You Will be Notified of the Appeals Committee’s Decision
The Appeals Committee will send a written notice of its decision to you within five days. If
your appeal is not granted, this notice will include:

The specific reason for the denial.

Reference to the Plan provisions on which the decision is based.

A statement that you are entitled to receive free of charge upon request, reasonable
access to and copies of all documents, records, and other information relevant to
your benefit claim.
The Trustees’ Decision is Final
The Trustees have complete discretion to construe, interpret, and apply all terms and
provisions of the Plan in resolving any dispute, including the discretion to determine the
standard of proof required. The Trustees’ decision is final and binding upon all parties to
the dispute.
Legal Action
If your appeal has been denied, you may bring a legal action under ERISA Section 502(a).
Any legal action, other than an action for breach of fiduciary duty, must be filed within two
years of the date your appeal was denied.
63
If you need additional information on claims and appeals, please contact the Plan for a
complete copy of the claims and appeals procedures.
64
Section 15: Qualified Domestic Relations Orders
Benefits may be Divided under State Domestic Relations Law
If you get divorced or are ordered to pay child support, the court may divide your Plan
benefits with a Qualified Domestic Relations Order (QDRO).
A Qualified Domestic Relations Order
A Qualified Domestic Relations Order (QDRO) is a court order based on state domestic
relations law. A QDRO must relate to marital property settlement, child support, or spousal
support and must assign your Spouse, ex-Spouse, child, or other dependent, called an
alternate payee, a right to receive all or a portion of your retirement funds. A QDRO is a
court order and the Plan is bound by its terms. Any benefits the Plan is required to pay
pursuant to a QDRO will reduce the benefits available to you.
A court order is not automatically a Qualified Domestic Relations Order. To be a Qualified
Domestic Relations Order certain requirements of the Plan and Federal law must be met.
The Plan only pays benefits for Qualified orders.
If the Plan Receives a QDRO
The Plan will promptly notify you and any named alternate payee of receipt of a QDRO.
This notice will include the Plan’s procedures for determining whether the Order is qualified.
Within a reasonable time after receipt of a Domestic Relations Order, the Plan will
determine whether the Order is a QDRO. You will be notified of the Plan’s determination.
If a QDRO is Pending
If you have applied for or are receiving benefits, the Plan Administrator must separately
account for the amount that would be payable to the alternate payee under the QDRO. The
alternate payee has 18 months from the date the first payment would be due under the
initial QDRO to achieve a qualifying Order. If a qualifying Order is not achieved within the
18-month period, the separately accounted for amount will be returned to you. Any future
QDROs may only be applied prospectively.
If You Get Remarried
Rights granted to an alternate payee by a QDRO will be given priority over the rights of any
later Spouse.
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If You Divorce after Starting Your Pension
Once you begin receiving your pension benefits, the form of benefit you elected cannot be
changed. If you divorce after beginning to receive your pension in one of the Husband and
Wife Pension forms, your ex-Spouse will retain the right to the survivor benefits granted
under that pension form. The divorce court may also award your Spouse a portion of your
monthly benefit. A QDRO may not change your benefit form.
If You Need Additional Information
If you need additional information about QDROs, you should contact the Plan for a
complete copy of the Plan’s QDRO procedures and a model QDRO.
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Section 16: Retirement and Disqualifying Employment
Retirement
The Plan pays benefits to eligible Participants who have retired and apply for them. To be
retired prior to Normal Retirement Age, you must have separated from service* with any
and all Employers contributing to the Pension Plan, and you must withdraw and refrain from
work in Disqualifying Employment. To be retired after Normal Retirement Age, you must
withdraw and refrain from work in Disqualifying Employment.
* To separate from service you must, at the time of retirement both:
▫
Terminate your employment relationship with any and all Employers contributing to the Plan
▫
Have the present intent to refrain from returning to work for any such contributing Employer
Disqualifying Employment
Before Normal Retirement Age
Effective June 16, 1999, once you have separated from service with any and all Employers
contributing to the Pension Plan, to be considered retired and entitled to a pension under
this Plan before Normal Retirement Age, you must:

Withdraw completely and refrain from any employment or self-employment in a job
classification of the type included in a Collective Bargaining Agreement anywhere in
the United States, or any direct supervision of such a job classification in the
construction industry.
Effective July 1, 2010, once you have separated from service with any and all Employers
contributing to the Pension Plan, to be considered retired and entitled to a pension under
this Plan before Normal Retirement Age, you must:

Withdraw completely and refrain from any employment or self-employment for an
employer which performs work in an industry traditionally covered by a Collective
Bargaining Agreement:
▫
Where the employment or self-employment is in a job classification of the
type included in a Collective Bargaining Agreement anywhere in the United
States or
▫
Where the employment or self-employment includes any direct supervision of
a job classification of the type included in a Collective Bargaining Agreement
anywhere in the United States in the construction industry.
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After Normal Retirement Age
To be considered retired and entitled to a pension under this Plan after Normal Retirement
Age, you must withdraw and refrain from employment for wages or profit in excess of 40
hours in a calendar month, including hours paid but not worked, in the same industry, in the
same trade or craft, anywhere in the United States. For the purposes of this subsection:
 The same industry means any business activity of an employer, including selfemployment, that includes any employment which was covered by the Plan when
the Participant’s pension payments started.
 The same trade or craft means an occupation in which the Participant was employed
or could have been employed at any time under the coverage of the Plan and any
self-employment involved in such occupation.
Employment After Reaching Age 70 ½
Beginning with the month after you reach age 70½, you may be employed in any capacity
and be considered retired and entitled to a pension under this Plan.
Suspension of Benefits
If you are younger than Normal Retirement Age and retired, and you subsequently become
employed in Disqualifying Employment, your pension payments will be suspended for any
calendar month in which you are so employed. In addition, if you have been suspended
previously, your pension payments may be suspended for twelve additional months after
ceasing such employment, but not beyond Normal Retirement Age. Following suspension,
your pension will again become payable.
If you are between Normal Retirement Age and age 70 ½ and you become employed in
Disqualifying Employment, your pension payments will be suspended for any calendar
month in which you are so employed. After that period, your pension will again become
payable.
You Must Notify the Fund Office You are Working in Disqualifying Employment
If you begin working in Disqualifying Employment following your retirement, you must notify
the Fund Office in writing within 21 days of beginning employment.
If you are younger than Normal Retirement Age, it is the first time your benefits have been
suspended, and you do not provide the required notice within the 21 day period, your
benefits may be suspended for an additional three months. However, your benefits will not
be suspended past your Normal Retirement Age.
If you are Normal Retirement Age or older, and do not provide the required notice within the
21 day period, the Trustees will assume you are working more than 40 hours per month. If
you are working on a construction job site, the Trustees will assume you have been
employed on the job site for the entire time your Employer has been performing work on
68
the job site. The Trustees are entitled to make these assumptions unless and until you
prove otherwise.
If the Trustees request information from you regarding your Disqualifying Employment, you
must provide the requested information. If you do not provide the requested information,
your pension payments will be withheld until the Trustees receive the information.
Right of Review
If your pension is suspended, you have the right to appeal to the Trustees. The appeal
must be in writing and must be filed with the Trustees within 60 days of the date of the
notice of suspension. The same right of review willl apply, under the same terms, to a
determination that contemplated employment will be disqualifying.
Determination of Disqualifying Employment
You may, in writing, request a determination whether contemplated employment will be
disqualifying. For the Fund Office to determine if you are working in Disqualifying
Employment, you must submit a letter from your Employer including:

The date you returned to work or the date you plan to return to work

A clear and complete job description

A listing of job duties
You can reduce your chances of accidently accepting Disqualifying Employment by having
this information reviewed by the Fund Office before accepting any position.
Special Retiree Work Rules
Since February 1, 1999, the Board of Trustees has adopted Special Retiree Work Rules
allowing retirees to engage in work for up to 999.5 hours per computation period in areas
under the Union’s jurisdiction where there exists a bona fide labor shortage. The current
Special Retiree Work Rule is effective through September 30, 2011, and will expire on that
date unless extended by the Board of Trustees.
To qualify under the Special Retiree Work Rule, you must have been retired on an Age
Pension or Early Retirement Pension and must have received benefits for at least three
months prior to the start of your employment under the Special Retiree Work Rule. If you
elect to return to work under the Special Retiree Work Rule, you must give written notice of
that election to the Fund Office within 45 days following the start of such employment. You
may finish out a job after the defined rule period is over, so long as you do not exceed
999.5 hours. Contact the Fund Office if you need more information regarding the Special
Retiree Work Rule. If the Special Retiree Work Rule does not apply, and you return to
work, you could be subject to suspension of benefits.
69
If You Return to Work after Retiring on a Disability Pension
If you are a Disability Pensioner, engage in Covered Employment, and remain entitled to
Social Security Disability Benefits, your Disability Benefits will not be subject to the
suspension rules.
If you are a Disability Pensioner and you lose entitlement to disability benefits, your benefit
will be terminated. If you become employed in Disqualifying Employment, later retire, and
are again awarded a pension you will not be required to satisfy the 12-month waiting period
before your pension is effective.
If you retire on a Disability Pension, recover from your total disability and return to Covered
Employment, you are entitled, upon your later retirement, to have your pension benefit
recalculated at the time of your later retirement. This calculation will include additional
Pension Credit earned during your period of later employment.
Pension Payment following Suspension or Recalculation of Benefits
If your Disqualifying Employment has ended, pension payments will be resumed the month
after your Disqualifying Employment ends. Your actual benefit may not be paid right away if
the Fund Office must recover overpayments or if you are subject to penalty months.
However, penalty months will not be imposed beyond your Normal Retirement Age. Refer
to Section 8 for more information on recovery of overpayments.
Recalculated Monthly Benefits
If you return to Covered Employment and are suspended, or return to Covered
Employment that meets the requirements of the Special Retiree Work Rule, or engage in
post-retirement employment that is not Disqualifying Employment, you will be entitled to
receive a recalculated monthly benefit. This recalculation may or may not result in an
increased benefit.
If your original Annuity Starting Date occurred on or after you reached Normal Retirement
Age, benefits you earn as a result of returning to work after the original Annuity Starting
Date will be payable as of October 1 of the year following the Plan Credit Year the benefits
were earned.
If your original Annuity Starting Date occurred before you reached Normal Retirement Age,
you will have a new Annuity Starting Date for benefits earned as a result of your return to
work after your original Annuity Starting Date. You must file a new application to receive
these additional benefits. Benefits will be paid in the automatic benefit form of a 50%
Husband and Wife Pension or Single-Life Annuity with 60-Months Certain.
The recalculated monthly benefit will be based upon your age on the applicable date and
will account for the Pension Credit and Contributions accumulated during your later
period(s) of work in Covered Employment. The recalculated monthly pension payable will
70
be reduced by the product of one percent and the total Early Retirement Pension payments
you received during your previous period(s) of retirement and before Normal Retirement
Age.
The monthly amount payable after you have been reinstated following a suspension of
benefits will never be less than the monthly amount payable at the time you returned to
Covered Employment.
No Reduction in Value
If your retire early, return to Disqualifying Employment, and have your benefits suspended
before your Normal Retirement Age, the suspension of your benefits will not reduce your
monthly benefit amount. However, payment will not be made to you while you are working
and you will not be entitled to receive payment for the months your pension was suspended
due to Disqualifying Employment. The monthly amount of your pension will be adjusted, if
necessary, to ensure you will not be deprived of the value of benefits which would become
payable following your Normal Retirement Age.
71
Section 17: Plan Amendment and Termination
Plan Amendment
The Trustees reserve the right to modify, alter, amend, and otherwise revise the Plan at
any time the Trustees may determine necessary and desirable. However, no amendment
may decrease the accrued benefit of any Participant, except as permitted under applicable
law.
Employer’s Termination of Participation
If an Employer ends participation in the Plan within 48 months of beginning Plan
participation, the Trustees may reduce or cancel the Past Service Credit for Employees of
that Employer. This may result in losing eligibility for a pension.
Plan Termination
The Trustees intend for this Plan to continue indefinitely. Nevertheless, they reserve the
right, subject to the provisions of the Trust Agreement, to terminate or amend the Plan. To
terminate the Plan they must notify and get approval from the Pension Benefit Guarantee
Corporation (PBGC). The PBGC is a Federal corporation established under the Employee
Retirement Income Security Act of 1974 (ERISA), which insures the vested benefits of
pension plan participants.
If the Plan is terminated, you will be notified as soon as possible. You will be told the
pension benefit amount, if any, you will be entitled to with an explanation of elections you
may have to make.
If the Plan is terminated, the Plan’s administrative expenses will be paid and all remaining
funds will be allocated as follows:
1. First, to pension benefits that have been in pay status for the three years
immediately before the Plan’s termination and to pension benefits that have been in
pay status during the three year period had the Participant chosen to retire.
2. Second, to all other benefits guaranteed under Title IV of ERISA.
3. Third, to all other vested benefits under the Plan.
4. Fourth, to all other benefits under the Plan.
Loss of Your Benefits upon Termination of the Plan
In the event of a partial or total termination of the Plan, the rights of all affected Participants
to benefits then accrued, to the extent then funded, shall thereupon become 100% vested
and nonforfeitable.
72
Plan Merger
If the Plan merges or consolidates with another plan, you and all Participants, alternate
payees, and Beneficiaries will be entitled to receive a benefit, immediately after the merger
or consolidation, that is equal to or greater than any benefit you were entitled to receive
before the merger or consolidation. In other words, if the Plan merges or consolidates, it will
not negatively impact your benefit.
73
Section 18: How Benefits may be Reduced, Delayed,
Forfeited or Offset
There are certain situations under which your Pension Benefits may be reduced, delayed,
lost or offset. Most of these circumstances are discussed throughout this Summary Plan
Description (SPD). To summarize, benefits may be reduced, delayed, forfeited, or offset in
the following situations:

You, your Spouse, or your Beneficiary do not file a claim for benefits properly or on time.

You, your Spouse, or your Beneficiary do not have your current address on file with
the Fund Office.

You, your Spouse, or your Beneficiary do not furnish the information or
documentation necessary to process your claim for benefits.

Your Beneficiary, under the order of precedence, never files a claim to establish he
or she is entitled to your benefit.

A Qualified Domestic Relations Order (QDRO) divides your Pension benefits.

You, your Spouse, or your Beneficiary provide false information to the Fund Office,
file a false claim for benefits, or take action to intentionally defraud the Pension Plan.

You have a Permanent Break in Covered Employment.

Your annual pension benefits are greater than the applicable annual dollar limits.

You, when retiring prior to Normal Retirement Age, fail to separate from service with
any and all Employers contributing to the Pension Plan.

You engage in Disqualifying Employment after retiring.

You fail to give notice of your return to work in Disqualifying Employment.

You previously had your benefits suspended for working in Disqualifying
Employment, re-retire, and then later return to work in Disqualifying Employment.

You return to work under the Special Retiree Work Rule without giving proper notice.

Your pension benefit is actuarially reduced because you retired before Normal
Retirement Age.

Your pension benefit is paid in a lower monthly Husband and Wife benefit form
because you failed to obtain your Spouse’s written, notarized signature on the
Spousal Consent Form.

There is a correction in your hours or Contributions.

Your benefits are subject to an IRS levy or a criminal garnishment.

Your monthly payments do not stop with your death and the overpayment must be
recovered from your surviving Spouse/Beneficiary.

You elected the Level Income Option and reach Social Security Normal Retirement
Age.
74
Section 19: Recent Pension Funding Changes
The Economic Downturn Impacted the Plan
The economic downturn which began in 2007 impacted the Pension Plan’s assets and
funding status. As a result, the Plan Trustees took action to insure the Pension Plan will
maintain sufficient funding.
Supplemental Contributions
February 1, 2009, the Trustees enacted a Plan provision under which 15% of all
Contributions were designated as non-accruing. This requirement was commonly referred
to as a “15% carveout.” The effect of this requirement was to reduce the amount of
Contributions credited to you by 15%.
Effective January 1, 2010, the 15% carveout was replaced with a Supplemental NonAccruing Contribution that is equal to the difference between the Base Contribution Rate
and the Minimum Contribution Rate, as those terms are defined by the Plan.
Both the 15% non-accruing Contributions and the Supplemental Non-Accruing
Contributions go directly towards improving the financial health and stability of the Plan.
Base Contribution Rate
Your Base Contribution Rate is the Contribution rate that was in effect for your job
classification under your Employer’s applicable Collective Bargaining Agreement or
Participation Agreement on September 30, 2008. Or, if the applicable Collective Bargaining
or Participation Agreement was signed after September 30, 2008, the Base Contribution
Rate is rate set forth in the applicable Collective Bargaining Agreement or Participation
Agreement. Base Contributions will continue to accrue benefits for you.
Minimum Contribution Rate
Beginning on January 1, 2010, the Minimum Contribution Rate required to be paid on your
behalf by your Employer is equal to your Base Contribution Rate multiplied by the following
factors over the next five years:
75
Dates of Work in Covered Employment
January 1, 2010 – December 31, 2010
On or after January 1, 2014
Minimum Contribution Rate Factor
135%
170%
205%
240%
275%
Example 1: The Pension Contribution r ate e ffective on Septem ber 30, 2008, for
journeyman boilermakers under the ABC Construction Company Collectiv e Bargaining
Agreement was $4.50 per hour.
Effective January 1, 2009, ABC Constructi on Company and the Union’s new Collective
Bargaining Agreement raised the Pension C ontribution rate to $5.00 per hour. As a
result of the 15% Supplement al Contribution, effective F ebruary 1, 2009, the first $4.25
per hour was subject to benefit accrual, and t he remaining $.75 per hour was treated as
supplemental and not subject to benefit accrual.
Effective January 1, 2010, Pension Contribut ions must be made by ABC Construction
Company f or journeyman boiler makers at the rate of $6.08 per hour ($4.50 x 13 5% =
$6.08). This is the Minimum Contribution Rate . However, only an additional $1.08 will be
contributed on behalf of t he ABC Construction Co mpany journeymen, because t he
Pension Contribution rate wa s previously raised by 50¢ on January 1, 2009. Therefore,
effective January 1, 2010, the first $4.50 per hour (i.e., the Base Contribution Rate) will
be subject to benefit accrual, and the remaining $1.58 per hour (50¢ of old money and
$1.08 of new money) will be treated as Su pplemental Non-Accruing Co ntributions. The
$1.58 will be treated as supplemental and will not be subject to benefit accrual.
From January 1, 2010, through December 31, 2014, all Contributions above the Minimum
Contribution Rate will be treated as supplemental, meaning they will not be subject to
benefit accrual. However, on and after January 1, 2015, all Contributions above the
Minimum Contribution Rate then in effect will be deemed Regular Contributions, meaning
they will accrue benefits.
Example 2: The Pension Contribution r ate e ffective on Septem ber 30, 2008, for
journeyman boilermakers under the ABC Construction Company Collectiv e Bargaining
Agreement was $5.00 per hour. Effective J anuary 1, 2015, the Minimum Contributio n
Rate payable by ABC Construction Company on behalf of its journeyman boilermakers is
$13.75 per hour. Contributions up to $5.00 (i .e., the Base Contribution Rat e) and above
$13.75 will be subjec t to benefit accrual. C ontributions between $5.00 and $13.75, or
$8.75, will be treated as supplemental and will not be subject to benefit accrual.
76
Section 20: General Information
The following general information is to help you understand how the Pension Plan is
administered and provide certain information required by Federal law.
Plan Name
The Boilermaker-Blacksmith National Pension Trust
Plan Sponsor
The Plan is sponsored by the Board of Trustees. Please refer to the front of this SPD for a
complete listing of the members of the Board of Trustees.
Plan Administration Type
This Plan is a collectively bargained, jointly trusteed, Labor-Management Trust.
Plan Administrator’s Name, Address, and Telephone Number
The Trustees are the formal Plan Administrator; however, they have delegated important
administrative responsibilities to third parties. Important third parties are:
General Administration
Richard L. Calcara, Executive Administrator
Legal Counsel
Blake & Uhlig, P.A.
475 New Brotherhood Building
753 State Avenue
Kansas City, KS 66101
Agent for Service of Legal Process
Service of legal process may be made upon any Plan Trustee, the Executive Administrator,
or Legal Counsel.
77
Plan Identification Numbers
The Plan’s identification number with the Internal Revenue Service (IRS) is 48-6168020.
The Plan number is 001.
Pension Plan Type
The Plan is a multi-employer, defined benefit pension plan. The level of benefits is
determined actuarially considering Contribution income, mortality rates, turnover of
Employees, general economic conditions and other factors affecting Plan income and
costs. Actuarial valuations are performed by enrolled actuaries retained by the Trustees.
Cost projections and determination of benefit levels are done in consultation with the
actuary. Although the Trustees and professional advisors make every effort to fix benefit
levels accurately, benefit levels are subject to adjustments depending on changes in
economic conditions, results of collective bargaining, and other necessary changes related
to actuarial assumptions.
Plan Financing Source
This Plan is funded through Contributions by the Employers on behalf of their Employees
under the terms of a Collective Bargaining or Participation Agreement, and by investment
income earned on a portion of the Plan’s assets.
The Plan is subject to periodic actuarial review to assure that the relationship between
income and benefits costs meets the funding standards required by ERISA.
Collective Bargaining Agreements
This Plan is maintained pursuant to Collective Bargaining Agreements (CBA). Copies of
Collective Bargaining Agreements may be obtained upon written request to the Plan
Administrator and are available for examination at the Fund Office.
Funding Medium
Assets are held in trust by the Board of Trustees and benefits are provided by the Trust
Fund. Some Plan assets are invested. These investments are made by professional
investment managers employed by the Trust.
Plan’s Fiscal Year
January 1 - December 31
78
Titles
The titles are for reference only. In the event of a conflict between a title and the content of
a Section, the content of the Section will control.
Gender and Number
Except as the context may require otherwise, use of the masculine gender includes both
the masculine and feminine genders. Use of the singular and plural tense includes both the
singular and plural tense.
Trustees’ Discretion to Interpret the Plan and Resolve Disputes
The Trustees have complete discretion to interpret and apply all terms of the Plan
document, the Trust Agreement, and this Summary Plan Description. The Trustees also
have complete discretion to make findings of fact needed to administer the Plan and make
decisions on benefit claims. Any dispute about eligibility for benefits, form of benefit
payment, benefit amount, duration of benefit payments or right to payments from the
Pension Plan will be resolved by the Board of Trustees or by a person or persons
designated by the Board of Trustees and will be final and binding on all persons.
Conflict between Summary Plan Description and Plan Document
This Summary Plan Description is intended to summarize the Plan document. In the event
of a conflict between this Summary Plan Description and the Plan document, the Plan
document controls. If you have questions about any provision of this Summary Plan
Description, you should make a written request to the Fund Office for a copy of the Plan
document and review the more detailed and complete provision in the Plan document.
Plan Amendment or Termination
Although this Plan is intended to exist indefinitely, the Trustees reserve the right to amend,
modify, or terminate the Plan at any time for any reason they decide is necessary or
desirable.
79
Section 21: Your ERISA Rights
This section contains important information for you about your rights under Federal law as
a Participant in the Boilermaker-Blacksmith National Pension Trust. These include rights to
request information and documents from the Pension Plan. Read this section to help you
understand your rights and how to enforce them.
Statement of ERISA Rights
As a Participant in the Boilermaker-Blacksmith National Pension Trust, you are entitled to
certain rights and protections under the Employee Retirement Income Security Act of 1974
(ERISA). ERISA provides all plan participants are entitled to:
Receive Information about Your Plan and Benefits
You may examine, without charge, at the Fund Office and at other specified locations, such
as worksites and union halls, all documents governing the plan, including insurance
contracts and collective bargaining agreements, and a copy of the latest annual report
(Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available at the
Public Disclosure Room of the Employee Benefits Security Administration.
You may obtain, upon written request to the plan administrator, copies of documents
governing plan operation, including insurance contracts and collective bargaining
agreements, and copies of the latest annual report (Form 5500 Series) and updated
Summary Plan Description. The administrator may charge a reasonable amount for the
copies.
You may obtain a statement telling you whether you have a right to receive a pension at
Normal Retirement Age (age 65) and if so, what your benefits would be at Normal
Retirement Age if you stop working under the plan now. If you do not have a right to a
pension, the statement will tell you how many more years you have to work to get a right to
a pension. This statement must be requested in writing and is not required to be given
more than once every 12 months. The plan must provide the statement free of charge.
Prudent Actions by Plan Fiduciaries
In addition to creating rights for plan participants, ERISA imposes duties upon the people
who are responsible for the operation of the employee benefit plan. The people who
operate your plan, called fiduciaries of the plan, have a duty to act prudently and in the
interest of you and other plan participants and beneficiaries.
No one, including your employer, your union, or other person, may fire you or otherwise
discriminate against you in any way to prevent you from getting a pension benefit or
exercising your rights under ERISA.
80
Enforce Your Rights
If your claim for a pension benefit is denied or ignored, in whole or in part, you have a right
to know why this was done, to obtain copies of documents relating to the decision without
charge, and to appeal any denial, all within certain time schedules.
Under ERISA, there are steps you can take to enforce the above rights. For instance, if you
request a copy of plan documents or the latest annual report from the plan and do not
receive them within 30 days, you may file suit in a Federal court. In such a case, the court
may require the plan administrator to provide the materials and pay you up to $110.00 a
day until you receive the materials, unless the materials were not sent because of reasons
beyond the control of the administrator.
If you have a claim for benefits which is denied or ignored, in whole or in part, you may file
suit in a state or Federal court. In addition, if you disagree with the plan's decision or lack
thereof concerning the qualified status of a domestic relations order, you may file suit in
Federal court.
If it should happen that plan fiduciaries misuse the plan's money, or if you are discriminated
against for asserting your rights, you may seek assistance from the U.S. Department of
Labor, or you may file suit in a Federal court. The court will decide who should pay court
costs and legal fees. If you are successful, the court may order the person you have sued
to pay these costs and fees. If you lose, the court may order you to pay these costs and
fees, for example, if it finds your claim is frivolous.
Assistance with Your Questions
If you have questions about your Plan, you should contact the Plan Administrator. If you
have questions about this statement or about your rights under ERISA, or if you need
assistance in getting documents from the Plan Administrator, you should contact the
nearest office of the Employee Benefits Security Administration, U.S. Department of Labor,
listed in your telephone directory or the Division of Technical Assistance and Inquiries,
Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution
Avenue N.W., Washington, D.C. 20210. You may also get certain publications about your
rights and responsibilities under ERISA by calling the publications hotline of the Employee
Benefits Security Administration.
81
Section 22: Glossary
The selected terms listed below are important terms used throughout this SPD. These
selected terms are capitalized as they are used throughout the SPD to indicate the specific
meaning of the word as defined below.
Annuity Starting Date: Your Annuity Starting Date is the first date your pension benefits
become payable. Annuity Starting Dates are the first day of a calendar month. If your
application is legibly postmarked or received before the fifteenth day of the month, your
Annuity Starting Date will be the first day of the first calendar month after you have
completed all requirements to receive a benefit (such as submitting a completed application
to the Fund Office and providing additional information requested by the Fund Office),
unless you designate a later date. If you apply for benefits on or after the fifteenth day of
the month, your Annuity Starting Date will be no earlier than the first day of the second
calendar month after your application was received or legibly postmarked. Your Annuity
Starting Date may be subject to other requirements including, but not limited to, spousal
consent.
Base Contribution Rate: The Base Contribution Rate is the contribution rate in effect on
September 30, 2008. Or, if the applicable Collective Bargaining Agreement was signed
after September 30, 2008, the rate set forth in the applicable Collective Bargaining
Agreement.
Beneficiary: Your Beneficiary is the person designated by you or by the terms of the Plan
to receive benefits upon your death. The only way you may designate a Beneficiary is by
completing the Plan’s Designation of Beneficiary Form.
Collective Bargaining Agreement (CBA): An agreement in effect at the time of reference
between the International Union and/or any of its Local Lodges and an Employer, Employer
Committee, or an Employer Association which requires the Employer(s) covered contribute
to the Fund.
Contiguous Non-Covered Employment: Employment for an Employer in a job not
covered by this Plan, but which occurs adjacent to Covered Employment with the same
Employer. For the employment to be considered contiguous, there can be no quit,
discharge, or other termination of employment between the periods of Covered
Employment and Non-Covered Employment.
Contribution Date: The first date for which an Employer was or will be obligated by a
particular collective bargaining unit to make Contributions to the Plan, or the first date for
which the Employer makes Contributions to the Plan, if payments are not required by a
Collective Bargaining Agreement. Your Contribution Date is the date applicable to the unit
in which you were employed when Contributions first started on your behalf.
Contribution(s): The amount paid to the Fund for an Employee, as established by a
Collective Bargaining Agreement, a Participation Agreement, or by the Board of Trustees.
82
Covered Employment: Work for which your Employer is required to make Contributions to
this Plan under a Participation Agreement or a Collective Bargaining Agreement with the
International Union, affiliated districts, or Local Lodges.
Employee: Any person who is represented in collective bargaining by the Union and
employed by an Employer in a class of work for which the Employer has agreed to
contribute or does contribute to the Pension Plan. An Employee can also be any other
Employee for whom Contributions are made to the Pension Plan pursuant to a Participation
Agreement, or a full-time Employee of the International Union or of a Local Lodge of the
Union.
Employer: Any person, partnership, corporation, or other business entity who makes
Contributions or has agreed to contribute to the Pension Plan on behalf of its Employees
under a Collective Bargaining Agreement, Participation Agreement, or other written
agreement.
Entitlement Date: The first month for which you are eligible to receive a Social Security
Disability Benefit, Railroad Retirement Disability Benefit, or Canadian Pension Plan
Disability Benefit regardless of the date payment is made.
Future Service Credit: Work performed in Covered Employment after your Contribution
Date.
Hour of Work: Each hour for which an Employee is paid or is entitled to payment from an
Employer. No more than 501 Hours of Work will be credited in any continuous period
during which you are entitled to payment, but no duties are performed. An Hour of Work will
also include each hour for which back-pay is awarded or agreed to by an Employer.
Husband and Wife Pension: A form of benefit payment available to married Participants
which provides a lifetime monthly pension for the Participant and, beginning after the
Participant’s death, a lifetime monthly pension for the Participant’s surviving Spouse. The
50% Husband and Wife Pension is the automatic form of benefit for married Participants.
Additional details about the Husband and Wife Pension may be found in Section 9.
International Union: The International Brotherhood of Boilermakers, Iron Ship Builders,
Blacksmiths, Forgers, and Helpers. The term Union will mean both the International Union
and its Local Lodges.
Minimum Contribution Rate: The Minimum Contribution Rate is equal to the Base
Contribution Rate (the Base Contribution Rate is the September 30, 2008 contribution rate),
multiplied by the following factors: 135% in 2010; 170% in 2011; 205% in 2012; 240% in
2013; and 275% on and after January 1, 2014.
Normal Retirement Age: The later of: age 65, or the earlier of the fifth anniversary of the
Participant’s Plan participation (ignoring participation before October 1, 1988), or the tenth
anniversary of the Participant’s Plan participation.
83
Participant: A Pensioner, an Employee, or a former Employee who has not terminated
participation under the Plan, or a former Employee who is vested for benefits under the
Plan.
Participation Agreement: Any written agreement, including an alumni agreement,
between the Trust and an Employer

Setting forth the detailed basis on which the Employer will pay contributions to the
Trust in order to provide for participation in the Plan by individuals who are not
covered under the terms of a Collective Bargaining Agreement,

Binding the Employer to the terms and conditions set forth in the Trust Agreement,
and

In a form prescribed by the Board of Trustees or its designee. A Participation
Agreement is not effective unless and until it is expressly approved by the Board of
Trustees or its designee.
Past Service Credit: Employment in the Boilermaker Trade before your first Hour of Work
in Covered Employment. Refer to Section 7 for limitations on Past Service Credit.
Pension Credit: A unit of credit which is accumulated and maintained for Employees in
accordance with the Plan terms. One unit of Pension Credit is 1,200 Hours of Covered
Employment.
Pensioner: A person receiving pension benefits under the Plan terms.
Plan Credit Year: The period of 12 consecutive calendar months from October 1 of any
year through September 30 of the next year. The Plan Credit Year is the period used to
determine vesting and benefit accrual.
Regular Contributions: All Contributions made to the Plan on behalf of an Employee for
Hours of Work in Covered Employment on and after February 1, 2009, which are not
Supplemental Contributions. Contributions made at the Base Contribution Rate are Regular
Contributions. See the definition of Base Contribution Rate above.
Spouse: A person who is legally married to the Participant, pursuant to the requirements of
Federal Defense of Marriage Act, (DOMA) which currently requires Spouses to be of the
opposite sex.
Supplemental Contributions: The portion of Contributions made, due, or credited on
behalf of an Employee which is excluded from benefit accruals under the Plan. All
Contributions considered Supplemental Contributions are added as a general asset of the
Trust and not credited to any Plan Participant.

February 1, 2009, through December 31, 2009 - The amount of a Participant’s
Supplemental Contributions is equal to 15% of all Contributions made, due, or
credited on the Participant’s behalf for Hours of Work in Covered Employment
performed on or after February 1, 2009, and through December 31, 2009.
84

January 1, 2010, through December 31, 2014 – All Contributions other than
Contributions attributable to the Base Contribution Rate will be Supplemental
Contributions.

On and after January 1, 2015 – The difference between the Base Contribution Rate
and the Minimum Contribution Rate will be a Supplemental Contribution.
Uniformed Services: The U.S. Armed Forces, the Coast Guard, the Army National Guard
and the Air National Guard when engaged in active duty for training, inactive duty training,
or full-time National Guard duty, the commissioned corps of the Public Health Service, and
other categories of people designated by the President in time of war or national
emergency.
Vested Participant: An Employee who has fulfilled the service requirements to receive a
nonforfeitable pension after retirement.
Vesting Service: Hours of Work used to determine vesting status. To accumulate one year
of Vesting Service you must work a minimum of 1,000 Hours of Work in Covered
Employment in a Plan Credit Year after your Contribution Date.
85
The material in this booklet was prepared to explain as clearly as possible your rights,
benefits, and other important features of the Boilermaker-Blacksmith National Pension
Trust. For clarity, some of the rules and regulations have been summarized. The
Trustees emphasize that nothing in this explanation is intended to change in any way the
rules and regulations of the Plan itself.
If any question is raised, your rights will be determined in accordance with the text of the
rules and regulations of the Plan Document and by the procedures prescribed by the
Plan. Although the Trustees attempt to keep this SPD up-to-date, changes in the Plan
procedures and the rules and regulations do occur. The current rules and regulations are
kept on file in the Fund Office and notification of changes are supplied as soon as
practicable.
Only the Board of Trustees is authorized to interpret the Plan. The Union, Employer, or
any of their representatives are not authorized to interpret the Plan or act as an agent of
the Board of Trustees.
If you have questions about the Plan, contact the Fund Office. The staff has up-to-date
information on Plan operations and your rights and responsibilities under it.
Fund Office address and phone number:
Telephone: 866-342-6555 or 913-342-6555
86
Michael G. Morash
Chairman
Ronnie L. Traxler
Vice Chairman
DATE:
TO:
FROM:
RE:
Warren Fairley
Secretary
John J. Skermont
Assistant Secretary
August 2012
All Pension Fund Participants, Designated Representatives, Alternate
Payees, Contributing Employers and Labor Organizations
Important Notice Regarding Amendments 7 and 7a to the 12th
Restatement of the Pension Plan
Amendment 7 and 7a
Recently, the Board of Trustees for the Boilermaker-Blacksmith National Pension Trust (the “Fund” or
the “Plan”) adopted Amendments 7 and 7a to the 12th Restatement of the Pension Plan, collectively
referred to as the “Amendment”. This Notice, which is required under Section 204(h) of the Employee
Retirement Income Security Act of 1974 (“ERISA”), explains how the Amendment will affect you.
Why was the Pension Plan Amended?
Since 2010, the Plan has been certified to be in the “Yellow Zone” for funding purposes because the
ratio of the Fund’s assets to its liabilities has been less than 80%. “Yellow Zone” status represents an
early warning to focus on correcting problems before they lead to more serious trouble.
As required by the Pension Protection Act, the Trustees adopted a Funding Improvement Plan in
September 2010, designed to improve the Plan’s funded position over a defined period of time. The
2010 Funding Improvement Plan consisted of five annual 35% Supplemental Non-Accruing
Contribution (“SNAC”) increases, scheduled to become effective on January 1st of each year, from
2010 through 2014.
The first three SNAC increases were effective in 2010, 2011, and 2012. Due to concerns that the
fourth and fifth scheduled SNAC increases may not be affordable under Collective Bargaining
Agreements, the Trustees decided to adopt the Amendment. This Amendment reduces the amount
of the contribution increases scheduled to take effect in 2013 and 2014, while continuing to satisfy
Funding Improvement Plan criteria.
What Changes Apply to Current Retirees?
The Amendment does not reduce, or affect in any way, benefits already earned by currently retired
Participants. If a retired Participant returns to work (under a Special Retiree Work Rule, for example)
after October 1, 2012, the new rules will apply only to contributions accrued after the retiree’s return
to work date.
Page 1 of 14
What Changes Apply to Benefits Already Accrued?
The benefits you have accrued prior to October 1, 2012, are not affected by the Amendment. The
Amendment does not reduce the amount of, or affect in any way, your eligibility for benefits accrued
prior to October 1, 2012. The Amendment only applies to benefits accrued on or after October 1,
2012.
What Changes Apply to Future Benefit Accruals?
The Amendment to the 12th Restatement of the Pension Plan addresses the following:
1. Changes the benefit multiplier factor to 12% for benefits accrued on or after October 1,
2012.
2. Discontinues the Supplemental Non-Accruing Contribution (SNAC) effective October 1, 2012.
All contributions for work performed on or after October 1, 2012, will be included in benefit
accrual.
3. Changes the Minimum Contribution Rates (MCR) effective January 1, 2013, and January 1,
2014.
4. Changes the service requirement for an unreduced Early Retirement Pension at age 58 from
30 to 35 Pension Credits for the benefits accrued on or after October 1, 2012.
5. Changes the Early Retirement reduction factors for the benefits accrued on or after October 1,
2012.
6. Adds the Single Life Annuity (no remaining payments) for pensions effective on or after
October 1, 2012.
7. Changes the reduction factors for optional forms of benefit payments for the benefits accrued
on or after October 1, 2012.
Page 2 of 14
1. Changes the benefit multiplier factor to 12% for benefits accrued on or
The monthly amount of the Basic Pension for a Participant is based on the applicable benefit
multiplier factor(s).
 CURRENT RULE – For Annuity Starting Dates (retirement dates):
Prior to October 1, 2012:
First Hour of Work in
Covered Employment
For Plan Credit Years*
Prior to October 1, 2008
On or after October 1, 2003
and prior to October 1, 2008
Prior to October 1, 2012, and
attributable to the first 18,000 Hours
of Work in Covered Employment
attributable to Hours of Work in
Covered Employment in excess of
18,000
Benefit Multiplier Factor
51.5% of the total Contributions on the
Participant’s behalf,
divided by 12
33% of the total Contributions
on the Participant’s behalf,
divided by 12
33% of the total Regular Contributions** on
the Participant’s behalf, divided by 12
 NEW RULE – For Annuity Starting Dates (retirement dates):
On or after October 1, 2012:
First Hour of Work in
Covered Employment
For Plan Credit Years*
On or after October 1, 2003, and
prior to October 1, 2008
Regardless of the date the First
Hour of Work in Covered
Employment
On or after October 1, 2008, and
prior to October 1, 2012
attributable to the first 18,000 Hours
of Work in Covered Employment
attributable to Hours of Work in
Covered Employment in excess of
18,000
Benefit Multiplier Factor
51.5% of the total Contributions on the
divided by 12
33% of the total Contributions on the
divided by 12
12% of the total Contributions on the
divided by 12
*A Plan Credit Year is the period of 12 consecutive calendar months from October 1 through September 30 of the next
year.
** An explanation of Regular Contributions is included in the table on the next page.
Page 3 of 14
2. Discontinues the Supplemental Non-Accruing Contribution (SNAC) effective
October 1, 2012.
All contributions for work performed on and after October 1, 2012 will now be accruing at 12%.
 CURRENT and NEW - Rules: New Rule shown in Highlighted section below.
For Work Performed
Prior to February 1, 2009
Description


Between February 1, 2009 and December 31, 2009


Between January 1, 2010 and September 30, 2012

NEW RULE:

All Contributions credited to a Participant are
included in the Participant’s benefit accrual.
15% of all Contributions credited to a
Participant are designated as ‘Supplemental
Non-Accruing Contributions’ (SNAC) which
are excluded from benefit accrual.
The remaining 85% of all Contributions are
designated as ‘Regular Contributions’ which
are included in benefit accrual.
All Contributions attributable to the Base
Contribution Rate (i.e., the contribution rate
that was in effect as of September 30, 2008)
are designated as ‘Regular Contributions’
which are included in benefit accrual.
All other Contributions are designated as
SNAC (35% increases of the Base
Contribution Rate) which are excluded from
benefit accrual.
All Contributions credited to a Participant, for
work performed on or after October 1, 2012,
are designated as ‘Regular Contributions’
which are included in benefit accrual.
Page 4 of 14
3. Changes the Minimum Contribution Rates (MCR) effective January 1, 2013,
and January 1, 2014.


8% more than the 2012 MCR effective January 1, 2013
8% more than the 2013 MCR effective January 1, 2014
 CURRENT Rule – All Contributions required to be made to the Pension Trust shall be due and
payable at a rate not less than the MCR listed below for each relevant job classification:
Jan. 1, 2010 – Dec. 31, 2010
Jan. 1, 2011 – Dec. 31, 2011
Jan. 1, 2012 – Dec. 31, 2012
Jan. 1, 2013 – Dec. 31, 2013**
On and after Jan. 1, 2014**
135% of the Base Contribution Rate*
 NEW Rule - All Contributions required to be made to the Pension Trust shall be due and payable
at a rate not less than the MCR listed below for each relevant job classification:
Jan. 1, 2010 – Dec. 31, 2010
Jan. 1, 2011 – Dec. 31, 2011
Jan. 1, 2012 – Dec. 31, 2012
Jan. 1, 2013 – Dec. 31, 2013
On and after Jan. 1, 2014
108% of the 2012 Minimum Contribution Rate
108% of the 2013 Minimum Contribution Rate
*The “Base Contribution Rate” (BCR) means the Contribution rate in effect as of September 30, 2008, for each relevant job
classification in the applicable CBA or Participation Agreement.
**The final two 35% SNAC increases are discontinued under Amendment #7.
IMPORTANT NOTE:
Retroactive reductions in contribution rates are prohibited under Internal Revenue Code § 411(d) (6). In
addition, the Pension Protection Act broadly prohibits any reduction in the contribution rate currently being
paid. Therefore, if the bargaining parties’ current agreement provides for the 35% SNAC increase on January
1, 2013 (the “original 2013 MCR”), and an addendum incorporating the new 2013 MCR is not in place before
the original 2013 MCR becomes effective, the Pension Protection Act appears to prohibit the bargaining parties
from reducing the contribution level below the original 2013 MCR at any time the Fund is in the Yellow Zone.
ACCORDINGLY, IT IS CRITICAL THAT THE BARGAINING PARTIES EXECUTE A TIMELY ADDENDUM
PRIOR TO JANUARY 1, 2013. Based on the example in the chart below, failure to execute a timely
addendum would result in a required contribution rate of $12.00, rather than the $11.07 that could have been
paid.
If the parties’ current CBA includes the original 2013 and 2014 SNACs and is not amended by January 1,
2013, the original 2014 MCR could still be reduced if the reduced rate is negotiated prior to January 1, 2014,
but not below the original 2013 MCR. Based on the example in the chart below, $12.00 would need to be paid
rather than the $11.96 that could have been paid.
Effective Date
1/1/2012
1/1/2013
1/1/2014
CBA/MOU/ADD NOT signed prior to
1/1/2013
CURRENT Rule
205% x 9/30/08 rate ($5.00)
$10.25
240% x 9/30/08 rate ($5.00)
$12.00
275% X 9/30/08 rate ($5.00)
$13.75
CBA/MOU/ADD signed prior to
1/1/2013
NEW Rule
205% x 9/30/08 rate ($5.00)
$10.25
108% x 1/1/2012 MCR
$11.07
108% x 1/1/2013 MCR
$11.96
Page 5 of 14
4. Changes the service requirement for an unreduced Early Retirement Pension
at age 58 from 30 to 35 Pension Credits for the benefits accrued on or after
October 1, 2012.
For benefits accrued on or after October 1, 2012, the service requirement for an unreduced Early
Retirement Pension at age 58 is changed from 30 Pension Credits to 35 Pension Credits. For
benefits accrued prior to October 1, 2012, the service requirement for an unreduced Early Retirement
Pension at age 58 remains unchanged at 30 Pension Credits. The other eligibility requirements for
this benefit remain unchanged.
 CURRENT Rule – For benefits accrued prior to October 1, 2012:
An unreduced Early Retirement Pension is payable to a Participant retiring
prior to age 65 who is:
Age 58 or older with 30 or more Pension Credits
Or
Age 62 or older with 25 or more Pension Credits
 NEW Rule – For benefits accrued on and after October 1, 2012:
An unreduced Early Retirement Pension is payable to a Participant retiring
prior to age 65 who is:
Age 58 or older with 35 Pension Credits
Or
Age 62 or older with 25 Pension Credits
Page 6 of 14
5. Changes the Early Retirement reduction factors for the benefits accrued on or
For benefits accrued on or after October 1, 2012, for a Participant retiring prior to age 65 who is not
eligible for an unreduced Early Retirement Pension, the Early Retirement reduction factor is .5% for
each month that the Participant is younger than age 65 on the retirement date.
The tables on the following two pages illustrate these changes.
Age on Retirement Date Tables
Hours = Pension Credit
Hours
>18,000 and <30,000
>30,000 and <36,000
>36,000 and <42,000
>42,000
Equals
=
=
=
=
Pension Credit
15 – 24.75 years
25 – 29.75 years
30 – 34.75 years
35 years
Your Total Hours, Less Breaks in Covered Employment, Accrued as of Your Retirement Date
A Participant earns one year of Pension Credit for each 1,200 Hours of Work in Covered
Employment.
Example: A Participant with 1,800 Hours of Work in Covered Employment will have 1.5 Pension
Credits.
Benefits accrued PRIOR to 10/1/2012 - First Hour Worked Prior to 10/1/2008
Age on Retirement Date
Age
% Amount: See Note
Pension Credits:
15 - 24.75
Age
% Amount: See Note
Pension Credits:
25 - 29.75
55
56
57
58
59
60
61
62
63
64
65
49%
55%
61%
67%
73%
79%
85%
91%
94%
97%
100%
● If you are between age 62 and age 65 on your retirement date, your Monthly Amount is
reduced by 0.25% for each month you are younger than age 65, but not younger than age 62
on your retirement date.
● If you are less than age 62, your Monthly Amount is reduced by 0.5% for each month you
are younger than age 62 on your retirement date.
55
56
57
58
59
60
61
62
63
64
65
58%
64%
70%
76%
82%
88%
94%
100%
100%
100%
100%
● If you are between age 62 and age 65 on your retirement date, your Monthly Amount will be
equal to the amount of the Basic Pension and Past Service Pension you would be entitled to
at age 65.
Page 7 of 14
Age
% Amount: See Note
Pension Credits:
30 - 34.75
Age
% Amount: See Note
Pension Credits: 35+
55
56
57
58
59
60
61
62
63
64
65
82%
88%
94%
100%
100%
100%
100%
100%
100%
100%
100%
at age 65.
55
56
57
58
59
60
61
62
63
64
65
91%
94%
97%
100%
100%
100%
100%
100%
100%
100%
100%
at age 65.
Note: Percentages in the table represent the portion of the Pension you will receive, not the reduction amount.
Benefits accrued PRIOR to 10/1/2012 - First Hour Worked After 10/1/2008
Age
% Amount: See Note
Pension Credits:
15 - 24.75
Age
% Amount: See Note
Pension Credits:
25 - 29.75
Age
% Amount: See Note
Pension Credits:
30+
55
56
57
58
59
60
61
62
63
64
65
40%
46%
52%
58%
64%
70%
76%
82%
88%
94%
100%
● If you are less than age 65, your Monthly Amount is reduced by 0.5% for each month you are
younger than age 65 on your retirement date.
55
56
57
58
59
60
61
62
63
64
65
58%
64%
70%
76%
82%
88%
94%
100%
100%
100%
100%
● If you are between age 62 and age 65 on your retirement Date, your Monthly Amount will be
equal to the amount of the Basic Pension and Past Service Pension you would be entitled to at
age 65.
● If you are younger than age 62, your Monthly Amount is reduced by 0.5% for each month
you are younger than age 62 on your retirement date.
55
56
57
58
59
60
61
62
63
64
65
82%
88%
94%
100%
100%
100%
100%
100%
100%
100%
100%
age 65.
● If you are younger than age 58, your Monthly Amount is reduced by 0.5% for each month
you are younger than age 58 on your retirement date.
Page 8 of 14
Benefits accrued On or After 10/1/2012
Age
% Amount: See Note
Pension Credits:
15 - 24.75
Age
% Amount: See Note
Pension Credits:
25 - 34.75
Age
% Amount: See Note
Pension Credits:
35+
55
56
57
58
59
60
61
62
63
64
65
40%
46%
52%
58%
64%
70%
76%
82%
88%
94%
100%
● Your Monthly Amount is reduced by 0.5% for each month you are younger than age 65.
55
56
57
58
59
60
61
62
63
64
65
40%
46%
52%
58%
64%
70%
76%
100%
100%
100%
100%
age 65.
● If you are younger than age 62, your Monthly Amount is reduced by 0.5% for each month you
55
56
57
58
59
60
61
62
63
64
65
40%
46%
52%
100%
100%
100%
100%
100%
100%
100%
100%
age 65.
● If you are younger than age 58, your Monthly Amount is reduced by 0.5% for each month you
IMPORTANT NOTE:
The new Early Retirement reduction rules only apply to benefits accrued on and after October 1,
2012. They do not affect in any way the amount of or your eligibility for an Early Retirement Pension
with respect to benefits accrued prior to October 1, 2012.
On or after October 1, 2012, two separate benefit calculations will be required to determine the total
Early Retirement Pension to which you are entitled.




The first calculation will determine the Early Retirement Pension to which you are entitled
for benefits accrued prior to October 1, 2012.
The second calculation will determine the Early Retirement Pension to which you are
entitled for benefits accrued on and after October 1, 2012.
Each calculation will take into account the total Pension Credits you have accrued at
the time of your retirement.
The two Early Retirement Pension amounts will then be added together to determine
your total Early Retirement Pension.
Page 9 of 14
6. Adds the Single Life Annuity (no remaining payments) for pensions effective
on or after October 1, 2012.
The Single Life Annuity (no remaining payments) is added as an additional benefit payment option.
Effective October 1, 2012, it also becomes the Normal Form of payment. Prior to October 1, 2012,
the Normal Form of payment was the Single Life Annuity with 60 Months Certain.
If the Single Life Annuity, (no remaining payments) is elected at retirement:
 The benefits accrued prior to October 1, 2012 are increased actuarially because the Normal
Form of payment prior to October 1, 2012 (the Single Life Annuity with 60 Months Certain) is a
more valuable benefit than the Single Life Annuity elected.
 The benefits accrued on or after October 1, 2012 are not adjusted for form of payment
because the Single Life Annuity (no remaining payments) is the Normal Form of payment for
benefits accrued on or after October 1, 2012.
IMPORTANT NOTE: Early Retirement reductions, if applicable, still apply to this benefit option.
Benefits Accrued
Period
PRIOR TO:
October 1, 2012
Normal –
Form of Payment
Lifetime pension for the Participant, with benefits
ceasing at the Participant’s death, unless, at the time
Single Life Annuity with of the Participant’s death, fewer than 60 monthly
pension payments have been made, in which case the
60-Months Certain
balance of the payments will be distributed to the
Participant’s designated Beneficiary until a total of 60
payments have been made.
ON or AFTER:
Single Life Annuity
October 1, 2012
Explanation
Lifetime pension for the Participant with benefits
ceasing upon the Participant’s death. No remaining
payments.
Page 10 of 14
Benefit Payment Options:
Unmarried Participants
 Current Rule: Effective for Pensions
Single Life Annuity 60 Months Certain
(Automatic Form of Payment for benefits accrued
prior to October 1, 2012)
 New Rule: Effective for Pensions On or
After October 1, 2012
Single Life Annuity – No Remaining Payments
(Automatic Form of Payment for benefits accrued on or
after October 1, 2012)
Married Participants
 Current Rule: Effective for Pensions
50% Husband and Wife
(Automatic Form of Payment)
 New Rule: Effective for Pensions On or
After October 1, 2012
(Automatic Form of Payment)
Single Life Annuity - No Remaining Payments
Page 11 of 14
7. Changes the reduction factors for optional forms of benefit payments for the
benefits accrued on or after October 1, 2012.
All forms of benefit payment options for benefits accrued on or after October 1, 2012 will be the
actuarial equivalent of the Normal Form.


For the benefits accrued prior to October 1, 2012 the Normal Form of payment is the Single
Life Annuity with 60-Months Certain.
For benefits accrued on or after October 2012, the Normal Form of payment is the Single Life
Annuity (with no remaining payments).
 CURRENT Rule - For the benefits accrued prior to October 1, 2012, all forms of benefit payment
options are reduced according to the rules of the Pension Plan with the exception of Participants
retiring at age 58 or later with 30 Pension Credits. Those Participants are eligible for an
unreduced 50% Husband and Wife Pension.
Benefit Payment Options available for Non-Disability Pensions:
Husband and Wife Options
(50%) Pension Amount x 95%
Per each year your Spouse
is younger than you:
is older than you:
-0.4% x years younger
+0.4% x years older*
Normal Form – Unreduced
(At age 55) = 97.80%
Benefit Payment Options available for Disability Pensions:
Husband and Wife Options
is younger than you:
is older than you:
Normal Form – Unreduced
(At age 55) = 88.70%
* In no event will the resulting percentage be greater than 100 percent.
Page 12 of 14
 NEW Rule - All forms of benefit payment options will be the actuarial equivalent of the Normal
Form. Actuarial equivalence will be determined using the following:
1. An interest rate of 7.5% per annum;
2. Participant mortality table (non-disability): RP-2000 Male Combined Healthy Blue Collar;
3. Participant mortality table (disability): RP-2000 Male Disabled Retiree Setback 2 Years;
4. Spouse mortality table: RP-2000 Female Combined Healthy Blue Collar.
Example A:
Bob Boilermaker retires at age 58 and has 35 years of Pension Credit on his Annuity Starting Date
(retirement date). His spouse is also age 58 on his retirement date.
Bob has elected the 50% Husband and Wife Pension.
The portion of his pension accrued prior to October 1, 2012 is $1,000.00.
The portion of his pension accrued after October 1, 2012 is $500.00.
Benefit Option Factor for Pension Benefits
Accrued:
Prior to 10-1-2012
No reduction ($1,000.00)
Accrued:
On or After 10-1-2012
Actuarial Equivalent 92.42%
($500.00 x 92.42% = $462.10)
Total Pension Benefit is $1,462.10 ($1,000.00 + $462.10 = $1,462.10).
Example B:
Bill Boilermaker retires at age 55 and has 30 years of Pension Credit on his Annuity Starting Date
(retirement date). His spouse is also age 55 on his retirement date.
Bill has elected the 50% Husband and Wife Pension.
The portion of his Early Retirement Pension accrued prior to October 1, 2012 is $1,000.00.
The portion of his Early Retirement Pension accrued after October 1, 2012 is $500.00.
Accrued:
Prior to 10-1-2012
95% ($1,000.00 x 95% = $950.00)
Accrued:
($500.00 x 93.67% = $468.35)
Total Pension Benefit is $1,418.35 ($950.00 + $468.35 = $1,418.35).
Page 13 of 14
Example C:
Boyd Boilermaker retires at age 55 and has 20 years of Pension Credit on his Annuity Starting Date
(retirement date). He is not married on his retirement date.
Boyd has elected the Single Life Annuity (no remaining payments).
The portion of his Early Retirement Pension accrued prior to October 1, 2012 is $1,000.00.
The portion of his Early Retirement Pension accrued after October 1, 2012 is $500.00.
Accrued:
Prior to 10-1-2012
Actuarially increased 1.0083%
($1,000.00 x 100.83% = $1,008.30)
Accrued:
No reduction $500.00
Example D:
Betty Boilermaker retires at age 55 and has 15 years of Pension Credit on her Annuity Starting Date
(retirement date). She is not married on her retirement date.
Betty has elected the Single Life Annuity with 60 Months Certain.
The portion of her Early Retirement Pension accrued prior to October 1, 2012 is $1,000.00.
The portion of her Early Retirement Pension accrued after October 1, 2012 is $500.00.
Accrued:
Prior to 10-1-2012
No reduction $1,000.00
Accrued:
($500.00 x 99.58% = $497.90)
If you have any questions concerning this Notice, please contact the Fund Office at 866-342-6555 or
913-342-6555, 8:00 am to 4:00 pm CST, Monday thru Friday, and a Fund Office Representative will
be happy to assist you. You may also visit our website at bnf-kc.com, or e-mail us at
[email protected].
Sincerely,
BOARD OF TRUSTEES
Page 14 of 14
Michael G. Morash
Chairman
Ronnie L. Traxler
Vice Chairman
Warren Fairley
Secretary
John J. Skermont
Assistant Secretary
DATE:
DECEMBER 2012
TO:
BOILERMAKER-BLACKSMITH NATIONAL PENSION TRUST
PARTICIPANTS
FROM:
RE:
NOTICE OF AMENDMENT NO. 8 TO THE 12th RESTATEMENT OF
THE PENSION PLAN
The Trustees adopted Amendment No. 8 to the Pension Plan, effective June 14, 2012. This
notice summarizes Amendment No. 8. Please read this notice and keep it with your Summary
Plan Description for future reference.
CLARIFICATION OF THE AMOUNT OF THE QUALIFIED PRERETIREMENT SURVIVOR
ANNUITY
If you are married and vested for benefits, have worked in Covered Employment at least one
hour since August 22, 1984, and die before retirement, your surviving spouse will be entitled to
a Qualified Preretirement Survivor Annuity (“QPSA”). Generally, the amount of the QPSA will
be equal to the survivor annuity portion of a 50% Husband and Wife Pension. However, in the
event you elect and file an application for an optional Husband and Wife Pension (e.g., a 75%
Husband and Wife Pension, or a 100% Husband and Wife Pension) and die prior to your
annuity starting date, the QPSA is legally required to be equal to the survivor annuity portion of
the optional Husband and Wife Pension elected. Amendment No. 8 amends Plan Section
7.01(a)(3)(C) to clarify this special rule.
CLARIFICATION OF THE MANNER IN WHICH DEATH BENEFITS ARE PAYABLE WHERE
AT LEAST ONE OF MULTIPLE DESIGNATED BENEFICIARIES DIES BEFORE RECEIVING
ALL PAYMENTS DUE
Prior to the adoption of Amendment No. 8, Plan Section 7.04(a) addressed the disposition of
death benefits remaining after the death of a designated beneficiary. However, this provision
was silent as to the disposition of such death benefits where multiple beneficiaries have been
designated by a Participant. Amendment No. 8 revises Plan Section 7.04(a) to clarify that if a
primary designated beneficiary dies after the Participant’s death, the benefits payable after the
primary designated beneficiary’s death, if any, shall be payable to the remaining primary
designated beneficiary(ies), if any. If there are no remaining primary designated beneficiaries,
the benefits shall be payable to the contingent beneficiary(ies), if any, designated by the
Participant. If there are no contingent designated beneficiaries, the benefits shall be payable
                                                                                         
754 Minnesota Avenue |
Kansas City, KS 66101-2766 | 866.342.6555 | 913.342.6555
| bnf-kc.com
in accordance with the deceased Participant’s order of precedence (i.e., to the Participant’s
surviving spouse, or, if none, then to the Participant’s surviving children, or, if none, then to the
Participant’s surviving grandchildren, or, if none, then to the Participant’s surviving parents, or,
if none, then to the Participant’s surviving brothers and sisters, or, if none, then to the
Participant’s estate).
ADDITION OF LANGUAGE REFLECTING THE ADOPTION OF THE 8TH, 9TH, AND 10TH
SPECIAL RETIREE WORK RULES
Since February 1, 1999, the Board of Trustees has adopted Special Retiree Work Rules
allowing retirees to engage in work for up to 999.5 hours per computation period in areas
under the Union’s jurisdiction where there exists a bona fide labor shortage. Amendment No.
8 added language to Plan Section 8.08 reflecting the Board of Trustees’ adoption of the 8 th
Special Retiree Work Rule (October 1, 2010 through September 30, 2011); the 9 th Special
Retiree Work Rule (October 1, 2011 through September 30, 2012); and the 10 th Special
Retiree Work Rule (October 1, 2012 through September 30, 2013).
2
Michael G. Morash
Chairman
Ronnie L. Traxler
Vice Chairman
Warren Fairley
Secretary
John J. Skermont
Assistant Secretary
DATE:
DECEMBER 2014
TO:
PARTICIPANTS IN THE BOILERMAKER-BLACKSMITH NATIONAL
PENSION TRUST
FROM:
RE:
NOTICE OF AMENDMENT NO. 10 TO THE 12th RESTATEMENT OF THE
PENSION PLAN
To comply with IRS rules requiring qualified retirement plans to recognize the Supreme Court’s
decision in United States v. Windsor that legally married same-sex couples must be treated as married
under federal law, the Trustees adopted Amendment No. 10 to the Pension Plan, effective June 26, 2013.
This notice summarizes Amendment No. 10 and highlights the treatment of same-sex marriages under
the Pension Plan. Please read this notice and keep it with your Summary Plan Description for future
reference.
REVISION TO THE DEFINITION OF SPOUSE TO COMPLY WITH FEDERAL LAW
Plan Section 1.35 previously defined “spouse” to be a person legally married to the Participant, subject
to the requirements of the Defense of Marriage Act (“DOMA”). Amendment No. 10 amends Plan
Section 1.35 to clarify that the Plan can no longer refer to DOMA when considering whether a couple is
legally married. Effective June 26, 2013, the term “spouse” is defined to include a same-sex spouse,
pursuant to the requirements of Federal law.
Likewise, Plan Section 7.06, which addresses the effect of a Qualified Domestic Relations Order on any
claims of a Beneficiary or other person, has been amended to contemplate that a Qualified Domestic
Relations Order can involve a marriage between same-sex couples. Effective June 26, 2013, the
reference in Plan Section 7.06 to the Defense of Marriage Act has been deleted and is ineffective.
Pursuant to guidance issued by the IRS, effective September 16, 2013, the Pension Plan will recognize a
marriage between same-sex spouses as valid if the marriage was celebrated in a state which recognizes
same-sex marriage, regardless of the married couple’s state of domicile. Between June 26, 2013 and
September 15, 2013, the Pension Plan will recognize a marriage between same-sex spouses as valid if:
1) the marriage was celebrated in a state which recognizes same-sex marriage; and 2) the married couple
is domiciled in a state which recognizes same-sex marriage. This treatment will not apply to registered
domestic partnerships, civil unions, and other formal relationships under state law, as these
arrangements are not deemed to be “marriage” for purposes of the qualified retirement plan rules.
                                                                                         
754 Minnesota Avenue |
Kansas City, KS 66101-2766 | 866.342.6555 | 913.342.6555
| bnf-kc.com
Michael G. Morash
Chairman
Ronnie L. Traxler
Vice Chairman
DATE:
APRIL 2015
TO:
PARTICIPANTS
FROM:
RE:
NOTICE OF PLAN AMENDMENTS 12 AND 13
TO THE 12th RESTATEMENT OF THE PENSION PLAN
Warren Fairley
Secretary
John J. Skermont
Assistant Secretary
The Board of Trustees has adopted Amendments 12 and 13 to the 12th Restatement of the
Pension Plan (the “Plan”). This notice summarizes Amendments 12 & 13. Please read this
notice carefully and keep it with your Summary Plan Description for future reference.
Amendment 12 clarifies existing Plan rules with respect to the following:


Payment of Disability Pension benefits.
Form of payment payable upon the death of a Participant in the event a Husband and
Wife benefit election becomes ineffective.
Amendment 13 amends the Plan to provide that hours worked on or after February 1, 2015 for an
employer that has completely withdrawn from the Plan shall not be counted for purposes of
protecting a non-vested Participant from incurring a Break in Covered Employment.
CLARIFICATION OF THE AMOUNT OF THE AUXILIARY DISABILITY BENEFIT:
Under the Plan, the monthly Disability Pension is equal to the Basic Pension and Regular or
Special Past Service Pension, if any, the Participant would receive if he were age 65 at the time
he became totally and permanently disabled.
If the commencement date for a Participant’s Disability Pension is later than his Social Security
or Railroad Retirement Disability Award entitlement date (“SSA entitlement date”), the
Participant will also be entitled to the Auxiliary Disability Benefit.
Amendment 12 clarifies that the Auxiliary Disability Benefit does not include any benefits
accrued after a disabled Participant’s SSA entitlement date. Any benefits accrued between the
Participant’s SSA entitlement date and the commencement date (Annuity Starting Date) of his
Disability Pension will first become payable as of the commencement date of the Disability
Pension.
1
Example: Joe Boilermaker becomes disabled and satisfies the Plan’s eligibility requirements for a
Disability Pension. Joe is awarded Social Security disability benefits with an entitlement date of
January 1, 2015. He does not apply for his Boilermaker Disability Pension right away and established
an Annuity Starting Date of June 1, 2015 as he continued to work in Covered Employment until May
31, 2015. Joe is entitled to an Auxiliary Benefit effective January 1, 2015 based on contributions
reported through December 31, 2014. The contributions reported between January 1, 2015 and May
31, 2015 are payable beginning with the Annuity Starting Date of June 1, 2015.
ONE-TIME ELECTION OPPORTUNITY TO CONVERT FROM A CONDITIONAL
DISABILITY PENSION TO A DISABILITY PENSION:
A Conditional Disability Pension is available to a Participant who satisfies the eligibility
requirements for an Early Retirement Pension and who believes he is permanently and totally
disabled, but has not yet been determined to be disabled by the Social Security Administration or
Railroad Retirement Board.
The Conditional Disability Pension is initially calculated and paid as an Early Retirement
Pension, which is generally lower than a Disability Pension benefit amount. If a Participant
begins receiving a Conditional Disability Pension and is later granted a Social Security or
Railroad Retirement Disability Award with a date of entitlement before the start of the
Conditional Disability Pension or during the immediately following 12-month period, the
Participant may elect to convert the benefit into a Disability Pension, provided the Participant
otherwise satisfies the eligibility requirements for a Disability Pension.
Amendment 12 clarifies that this is a one-time election opportunity. In other words, if a Participant
satisfies the requirements to convert to a Disability Pension, but elects to remain on the Conditional
Disability Pension, the Participant will not be permitted to change that election at a later date.
HUSBAND AND WIFE PENSION – DEATH OF PARTICIPANT WITHIN ONE YEAR
OF MARRIAGE BETWEEN PARTICIPANT AND SPOUSE:
Plan Section 6.08(b) provides that the Husband and Wife Pension form of payment shall not be
effective in the event the Participant and spouse were married to each other for less than a year
before the Participant’s death. Amendment 12 clarifies that the benefit will be recalculated in the
form of a Single Life Annuity with 60-Months Certain in the event the Husband and Wife
Pension form of payment is not effective because the Participant and spouse were married to
each other for less than a year before the Participant’s death.
HOURS WORKED FOR EMPLOYER AFTER EMPLOYER’S COMPLETE
WITHDRAWAL DISREGARDED FOR PURPOSES OF BREAK-IN-SERVICE RULES:
Effective October 1, 1975, a non-vested Participant will incur a One Year Break in Covered
Employment in any Plan Credit Year (October 1st – September 30th) in which he fails to
complete 500 hours of service. Effective October 1, 1985, a non-vested Participant will incur a
2
Permanent Break in Covered Employment if he has at least five (5) consecutive One Year
Breaks in Covered Employment and the number of such consecutive One Year Breaks in
Covered Employment equals or exceeds the number of years of Vesting Service which the
Participant had previously accumulated.
Plan Section 3.05(b)(2) describes what time is to be counted as an hour of service for purposes of
this rule.
OLD RULE:
Prior to February 1, 2015, Plan Section 3.05(b)(2)(F) provided that work for an employer
signatory to a collective bargaining agreement with the Union which does not require
contributions to the Pension Plan is to be counted for the purpose of determining whether a
Participant has incurred a One Year Break in Covered Employment.
Example: Joe Boilermaker, a non-vested Plan Participant, is an employee of ABC Boiler Co. (the
“Company”). Effective January 1, 2014, the Company completely withdrew from the Pension Plan.
Joe Boilermaker works 500 hours for the Company between January 1, 2014 and the end of the Plan
Credit Year (September 30, 2014). Under the old rule, with verification from the Company of Joe’s
employment, Joe would not incur a One Year Break in Covered Employment for the Plan Credit Year
ending September 30, 2014.
NEW RULE:
Amendment 13 modifies Plan Section 3.05(b)(2)(F) to provide that, beginning with hours
worked on or after February 1, 2015, hours worked with an employer after that employer’s
complete withdrawal from the Pension Plan shall not be counted as hours of service for purposes
of determining whether a Participant has incurred a One Year Break in Covered Employment.
Other than in the context of an employer’s complete withdrawal from the Pension Plan, work for
an employer signatory to a collective bargaining agreement with the Union which does not
require contributions to the Pension Plan will continue to be counted for purposes of determining
whether a Participant has incurred a One Year Break in Covered Employment.
Example 1: Joe Boilermaker, a non-vested Plan Participant, is a full-time employee of ABC Boiler
Co. (the “Company”). The Company completely withdrew from the Pension Plan, effective January
1, 2014. During the Plan Credit Year of October 1, 2014 – September 30, 2015, Joe works a total of
2,000 hours for the Company, 499 hours prior to February 1, 2015 and 1,501 hours on or after
February 1, 2015. Joe incurs a One Year Break in Covered Employment for the Plan Credit Year
ending September 30, 2015, as he has failed to complete at least 500 hours of service prior to
February 1, 2015. Since the Company has withdrawn from the Pension Plan, only the 499 hours
worked prior to the February 1, 2015 effective date of the new rule are counted for purposes of
determining whether Joe has incurred a One Year Break in Covered Employment. Beginning
February 1, 2015, any hours worked for the Company will be disregarded for purposes of applying
the Plan’s break-in-service rules.
3
Example 2: From February 1, 2015 through September 30, 2015, Bob Boilermaker, a non-vested
Participant in the Pension Plan, works 500 hours for an employer which has never had an obligation
to contribute to the Pension Plan. Throughout 2015, the employer is signatory to a collective
bargaining agreement with the Union which does not require contributions to the Pension Trust.
Bob will not incur a One Year Break in Covered Employment for the Plan Credit Year ending
September 30, 2015. His 500 hours of work with the employer are counted as hours of service for
purposes of applying the Plan’s break-in-service rules since this situation does not involve an
employer’s complete withdrawal from the Plan.
The significance of incurring a One Year Break in Covered Employment is as follows. If a nonvested Participant incurs a sufficient number of consecutive One Year Breaks in Covered
Employment, he will suffer a Permanent Break in Covered Employment, thereby permanently
cancelling his previous years of Pension Credit and Vesting Service, and permanently forfeiting
all Contributions credited on his behalf prior to the Permanent Break and the Participant will not
be eligible for any type of benefits from the Boilermaker-Blacksmith National Pension Trust.
For More Information
If you have questions concerning these amendments, please contact the Pension Office toll free
at 1-866-342-6555. Representatives are available Monday through Friday 8 a.m. to 5 p.m. CST.
Sincerely,
4

Summary Plan Description - Boilermakers National Funds

Transcription

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