Requirements for Participation

Eligibility

You enter the Steamfitters’ Industry Supplemental Retirement Plan (called the "Plan" in this booklet, but also referred to as the defined contribution or "DC" Plan) automatically when the Fund receives a contribution on account of your service in Covered Employment. There is no waiting period or age requirement to enter the Plan.

Covered Employment

Covered Employment includes any employment for which an Employer has agreed to contribute to the Fund under a collective bargaining or other agreement which requires such contributions. Under special agreements, the Plan also covers the salaried, elected officials of the Union and salaried instructors in the apprenticeship program operated by the Steamfitters’ Industry Educational Fund.

If you have any questions about whether a particular employer is required to contribute to the Fund, contact the Fund Office.

The Fund Office will advise you of whether a particular employer is contributing to the Plan, and provide the employer’s address, upon receipt of your written inquiry.

Also, a copy of the Trade Agreement and a list of contributing employers are available for examination by Plan participants and beneficiaries at the Fund Office or the Union Office, and a copy of the Trade Agreement or the list of contributing employers can be obtained upon written request to the Executive Administrator, Mr. Driscoll.

How to Become a Participant

You are automatically enrolled in the Plan as soon as the Fund receives a contribution on your account. At that time, if you have not already done so, you will be asked to provide some personal information, designate a beneficiary to receive any benefits which may be payable in the event of your death, and make an election of the investment funds in which you want Plan contributions on your account to be invested.

If you do not make an investment election, contributions on your behalf will be invested in one of the professionally diversified JP Morgan Smart Retirement Target Date Funds that are most appropriate for your age.

If you are married, you must designate your spouse as your beneficiary unless your spouse consents to your designation of someone else in a written statement which is notarized. If you do not designate a beneficiary, any benefits payable upon your death will be paid to your surviving spouse, or if none, to your estate.