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FAQ

The answers to frequently asked questions below are general in nature and do not modify the terms of their respective Plans. You should refer to the related Summary Plan Description for more specific information regarding each Fund's Plan.

Top Frequently Asked Questions

How do I know if I am a participant in the Plan?

If you are working for an Employer who is required to make contributions to this Plan pursuant to a Collective Bargaining Agreement with the International Union or an Affiliated Local, and contributions are received on your behalf then you are considered a participant of the Plan.

How much is the annuity benefit?

The amount of your annuity benefit is based on the amount in your individual account when you are eligible for a benefit based on contributions received, investment earnings or losses and applicable administrative fees.

When can I take a distribution from my individual account?

You (or your beneficiary, if applicable) may apply to receive the amount in your account when:

a. No employer contributions are made on your behalf to the Annuity Fund for 6 consecutive months because you are no longer working in covered employment if you are under age 55; or

b. No employer contributions are made on your behalf to the Annuity Fund for 2 consecutive months because you are no longer working in covered employment, and you have attained age 55; or

c. You die; or

d. You become totally and permanently disabled and are in receipt of a Social Security Disability Award; or

e. You retire at age 65, or if later, after you have been a Participant in the Plan for five years. 

Are hardship withdrawals of my account balance permitted?

Yes. For contributions received on or after January 1, 2010. 

Do I have to take a distribution of my account balance at a certain age?

No. You may continue to work as long as you like; retirement (a distribution) under the Annuity Fund is voluntary. However, if you are a 5% owner of the stock (or voting shares) of an Employer, your pension payments will automatically begin on the April 1st following the year in which you turn age 70 1/2, even if you are still working.  Minimum distributions will be made to you on the April 1st following attainment of age 70 ½ whether or not you are a 5% owner in accordance with applicable IRS regulations. 

Are my Annuity benefits taxable?

Yes. Your benefits are normally taxable when you receive a distribution. Please contact your personal tax advisor for tax planning and advice.

Can I make salary deferred contributions (401k) to the Plan?

Yes, in some instances. You may make pre-tax contributions from your eligible earnings up to the maximum amount allowed by law provided the employer contribution made on your behalf, while in covered employment, is 3% or more of your wages. Please check with your Local Union or your Employer to make sure that you are eligible to make contributions. IRS limits on the amount you can contribute are in the Annuity Fund Summary Plan Description Booklet.  In addition, for those working in the Motion Picture Industry under applicable collective bargaining agreements, can make pre-tax salary deferrals as well.  

How do I sign up for salary deferred contributions?

Salary deferral forms are available from the Fund office or on this site. You must complete a form for each employer you work for and the Fund Office must receive its copy of the form before your contributions can be accepted.

Do I need to file an application for benefits?

Yes. An Application for Annuity distribution can be made available to you by contacting the Fund Office. Once completed, the application must be sent to the Fund Office for completion and submission to Wells Fargo. Wells Fargo will issue your distribution directly to you or your beneficiary.

How often am I notified of the activity in my account?

Wells Fargo issues quarterly statements and your account information is available to you 24 hours a day, 7 days a week by logging onto Wells Fargo's website which is https://www.wellsfargo.com/.  There are direct links to Wells Fargo from your personal dashboard on this site. 


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