HEAT & FROST INSULATORS
LOCAL 34 PENSION PLAN

HEAT & FROST INSULATORS
LOCAL 34 PENSION PLAN

HEAT & FROST INSULATORS
LOCAL 34 UNION HALL

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PLAN DOCUMENTS AND NOTICES

Summary Plan Description (SPD)

View the full Summary Plan Description that explains the Plan benefits available to you and your family.

Summary Annual Report (SAR)

The SAR provides basic financial information regarding the Plan and informs you of your rights to additional information.

Annual Fee Disclosure

This required annual disclosure provides information regarding the Plan’s fees and investments.

QDIA Notice

This notice describes your rights to direct investments in a broad range of investment alternatives and how accounts will be invested in the absence of participant direction.

FORMS

Application for Benefits

Please complete this form to apply for a withdrawal then mail it along with any noted documentation to the Fund Office.

Alternate Payee Application for Benefits

Please complete and mail this form to the Fund Office if you are an Alternate Payee.

Incoming Rollover Form

To roll funds into the plan from another qualified retirement plan or IRA complete the form and include a copy of a check stub listing the rollover contributions and/or earnings amounts or a current account statement. The check from your former plan must be made payable to “JHTC” and must include your name and last four digits of your SSN. Please return the form to the Fund Office.

Certification of Disability Form

To apply for a withdrawal from your account due to disability complete the form and return with the application for benefits. Please return both the application for benefits and any supporting documentation to the Fund Office.

Disclaimer of Benefit Form

To allow a beneficiary to waive his or her rights to receive a spousal annuity or other death benefit payable under a qualified retirement plan.

Investment Election

To change your investment allocation you will need to contact John Hancock, the Fund Recordkeeper, either by phone at
1-800-294-3575
or through the John Hancock website.

Change of Address Form

Complete this form to change or correct your mailing address and return it to the Fund Office.

Change of Name Form

Complete this form to change or correct your name and return it to the Fund Office.

Beneficiary Designation Form

To designate a beneficiary for your account, you must fill out this form and return it to the Fund Office.

FREQUENTLY ASKED QUESTIONS

Participating employers make contributions to the plan for each hour of work in the Heat and Frost Insulators Local 34 jurisdiction. The amount is determined under an agreement with Local 34.

Your Individual Account in this Plan is funded by the following contributions:
  • Employer Contributions: Your employer contributes a certain dollar amount for each hour you work. The amount of hourly contribution is specified in your collective bargaining agreement, participation agreement, or other written agreement with the Trustees of the Plan.
  • Reciprocity Contributions: The Trustees may enter into reciprocity agreement with the representatives of other comparable plans. Under reciprocity agreements, Employer Contributions made on your behalf when you perform work outside the area of the jurisdiction of your Local Union may be received by this Plan. You should contact the Plan Administrator to find out if a reciprocal agreement exists with the plan covering the area where you will work.
  • Rollover Contributions: You may rollover into this Plan your account balance from another qualified retirement plan or individual retirement account.
You are fully vested at all times in your Individual Account under the Plan. This means that your Individual Account is yours and generally cannot be taken away from you, although your Individual Account may reflect reductions due to investment performance and administrative charges.

Upon initial contribution, your individual account will be established for you at John Hancock, the Fund Recordkeeper.
You are not required or permitted to make salary reduction contributions to the plan. You can, however, make rollover contributions as explained above.
To change your investment allocation you will need to contact John Hancock, the Fund Recordkeeper, either by phone at 1-800-294-3575 or the John Hancock website.
You are eligible for payment of your Accounts upon:
  • You reach age 52 and retire from employment with a contributing employer; retirement means you must quit working with the intent of never returning to work in the industry. Withdrawals are subject to state and federal taxes and a 10% penalty may apply if you are under age 55.
  • You terminate employment because of disability. “Disability” means that you suffer from a mental or physical condition resulting from bodily injury, disease, or mental disorder which makes you incapable of performing the customary duties of your position for an indefinite period of time expected to last at least twelve (12) months. You must submit proof of your disability, and the Trustees may require that you undergo one or more examinations by a health care professional of the Trustees choice to verify your disability.
  • You sever employment with an Employer for the period of at least six (6) consecutive months, provided that at the time of the receipt of a distribution of your Account Balance, you have not then, and for the previous six (6) consecutive months you did not perform any work for which an employer was obligated to make Employer Contributions or Reciprocity Contributions to the Plan on your behalf.
  • Upon Attaining age 62 you may receive a distribution regardless of whether or not you continue to be actively employed.
  • Federal law required you to begin receiving pension benefits to later than April 1 of the calendar year following the your in which you reach age 72 or, if later, the year in which you retire. Five percent owners of companies must start receiving benefits regardless of whether they have retired.
For further information, please refer to your Summary Plan Description or contact the Fund Office.
To apply for a withdrawal, you will need to complete an Application for Benefits. Please complete the form and mail along with any noted documentation to the Fund Office.
Yes, the Plan offers a Loan Program under certain conditions.

Distribution Under Loan Program
You may make a written application to the Plan’s Trustees to borrow from your Participant Account in accordance with the Plan’s application requirements. The Trustees will determine whether the application for a loan will be approved after an evaluation of all necessary documentation regarding the credit-worthiness of the application. Your loan will not exceed the lesser of $50,000, or 50% of your vested balance in your Participant Account and is subject to conditions detailed in the SPD.

For further information, please refer to your Summary Plan Description or contact the Fund Office.
The payment you receive from the plan will be subject to mandatory withholding of 20% for federal income taxes. You can avoid mandatory withholding only if you arrange to have your benefit transferred directly to an IRA or an eligible retirement plan.
You are eligible for payment of your Account upon:
  • • Reaching age 52 and retire from employment with a contributing employer; (retirement distributions prior to age 55 may be subject to a 10% penalty)
To apply for a withdrawal, you will need to complete an Application for Benefits.
For further information, please refer to your Summary Plan Description or contact the Fund Office.
You are eligible for payment of your Accounts upon termination of employment because of disability. You must submit proof of your disability and the Trustees may require that you undergo one or more examinations by a health care professional of the Trustees’ choice to verify your disability. When you become eligible and want to receive payment, you must file an application form. Please contact the Fund Office for that form.
In order to change your mailing address, you must complete a Change of Address Form. You may print and complete the form, or you may contact the Fund Office and a form will be mailed to you.
Complete a Beneficiary Designation Form and mail to the Fund Office.
You can select a beneficiary by filing an approved form with the Fund Office. You may change or revoke your beneficiary at any time by filing a new form. To be effective, your form must be received by the plan office during your lifetime.

If you are married, you are subject to some special rules. In general, your spouse must be your beneficiary. If you wish to designate someone else as beneficiary (including a trust for your spouse), your spouse must consent to the different beneficiary. Your spouse’s consent must be in writing and must be notarized or witnessed by a notary public or a plan representative. The only exception is under certain circumstances where the consent cannot be obtained, such as where a spouse cannot be located.

A spouse is a person to whom you are considered married under applicable law including a same-sex spouse to whom the Participant is considered married under the law of the state in which the marriage celebration occurred.

If your marital status changes, you should check to see if a new beneficiary designation should be filed. This should always be done when a single participant gets married.
You can select a beneficiary by filing an approved form with the Fund Office. You may change or revoke your beneficiary at any time by filing a new form. To be effective, your form must be received by the plan office during your lifetime.
In the event of divorce, your former spouse may have a right to receive some portion of your Account directly from the Plan. Please contact the Fund Office for more information.
If you have any questions about your eligibility, benefits or claims, contact the Fund Office at (952) 851-5948 or (800) 535-6373. If you have any questions about Union membership or related matters, contact Heat and Frost Insulators Local 34 at (612) 312-1245.
If you die, the unpaid balance of your Accounts will be paid in a lump sum to your beneficiary.

SERVICE PROVIDERS


Visit John Hancock to access account balances and investment elections.

You can contact John Hancock Retirement Plan Services (JHRPS) 24 hours a day, 7 days a week online. You can also contact the Participant Service Center at (800)-294-3575 from 8:00 a.m. to 10:00 p.m. Eastern Time on New York Stock Exchange business days.

To access your account online, JHRPS features a two-step sign in process. First, enter your Username, and next enter your Personal Identification Number (PIN)/Password. You'll be asked to provide your Social Security Number and date of birth so that you can create a PIN/Password.

(952) 851-5948    (800) 535-6373

3001 Metro Drive, Suite 500    Bloomington, MN 55425