If your account balance is less than $5,000 and you are under age 55, and no contributions have been remitted on your behalf for a period of 12 consecutive months, you can request a lump sum distribution. If your account balance is $5,000 or more, you will not be able to receive a lump sum distribution until you attain age 55 and you stop working for an employer that contributes to the Plan on your behalf.

If you are married, your spouse is your beneficiary. If you and your spouse agree to name another individual as your beneficiary, you can do so by completing forms at the Fund office or completing beneficiary designation cards, which you can obtain from your local union or the Fund office. If you are unmarried, you should name a beneficiary. These forms can also be obtained from your local union or the Fund office.

Yes, at the time you retire you will be offered an option to receive your benefits in monthly installments from an insurance carrier or in a lump sum distribution.

You are not required to take a distribution from the Fund until you reach your Required Beginning Date. Your Required Beginning date is the April 1st following the calendar year in which you attain age are certain age, depending on when you were born. For example, if you were born in January 1951 or later, your Required Beginning Date is based on your attainment of age 73.

Your account balance consists of contributions made to the Fund on your behalf, adjusted for applicable expenses, distributions, and all other transactions. It is valued daily in accordance with the income accounting applicable to the investment fund(s) or investment vehicle(s) in which your account balance is invested.

John Hancock Retirement Plan Services provides online records for your individual account. Visit their website at https://myplan.johnhancock.com.

Yes, your hours and contributions can be transferred to your Home Fund if your Home Fund also belongs to the International Electrical Workers’ Reciprocity Agreement. For information regarding this Agreement, please contact Local 131 or your Home Local.