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Pension Fund Summary Plan Description (SPD) |
Pension ERISA
STATEMENT OF RIGHTS UNDER EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974
As a Participant in the Automobile Mechanics’ Local No.
701 Union and Industry Pension Fund, you are entitled to
certain rights and protections under the Employee
Retirement Income Security Act of 1974 (ERISA). ERISA
provides that all Plan Participants shall be entitled to:
Examine, without charge, at the Plan Administrator’s
office and at other specified locations, such as Union
Halls and worksites where at least 50 Plan Participants
are customarily employed, all Plan documents, Collective
Bargaining Agreements and copies of all documents the Plan
has filed with the Department of Labor, such as detailed
annual reports and Plan descriptions.
Obtain copies of all Plan documents and other Plan
information upon written request to the Plan
Administrator. The Administrator may make a reasonable
charge for copies.
Receive a summary of the Plan’s annual financial report.
The Plan Administrator is required by law to furnish each
Participant with a copy of this summary annual report.
Obtain a statement telling you whether you have a right to
receive a pension at normal retirement age (age 62) 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 will
provide the statement free of charge. The Plan will
provide
this information to the extent it is able to, based on
available records.
In addition to creating rights for plan Participants,
ERISA imposes duties upon the people who have the
responsibility for the operation of the Employee benefit
Plan. The people who operate your Plan, called
“fiduciaries” of the Plan, have a duty to do so prudently
and in the interest of you and other Plan Participants and
beneficiaries. No one, including your Employer, your
union, or any other person, may fire you or otherwise
discriminate against you in any way to prevent you from
obtaining a pension benefit or exercising your rights
under ERISA. If your claim for a pension benefit is denied
in whole or in part you must receive a written explanation
of the reason for the denial. You have the right to have
the Plan review and reconsider your claim. Under ERISA,
there are steps you can take to enforce the above rights.
For instance, if you request materials from the Plan and
do not receive them within 30 days, you may file suit in
federal court. In such a case, the court may require the
Plan administrator to provide the materials and pay you up
to $110 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. 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 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. 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 the 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
If you have any question about your Plan, you should
contact the Plan administrator. If you have any questions
about this statement or about your rights under ERISA, you
should contact the nearest office of the Pension and
Welfare benefits Administration, U.S. Department of Labor,
200 Constitution Avenue, Washington, DC 20210.
Local 701's Site
I.A.M National Pension Fund
1300 Connecticut Av NW, Suite 300
Washington DC 20036-1703
800-424-9608
202-785-2658
202-857-3713 (fax)
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