Your Participation

You are eligible to participate in the Plan if you work in a position covered by a collective bargaining agreement between an employer and the union, also known as “covered employment.”

When Your Participation Starts

On July 1 of the Plan year in which you complete at least 100 hours in covered employment. Your participation continues as long as you are working in covered employment.

Your Individual Account

  • When you become a participant in the Annuity Plan, an individual account is established in your name.
  • Employer contributions are made on your behalf to your individual account.
  • Your individual account balance includes monthly employer contributions and earnings and/or losses.
  • Administrative expenses of operating the Annuity Plan are deducted from the individual accounts.

Your Valuation Date

The value of your account is updated as of December 31 of each year. It includes:

Employer contributions made on your behalf;

  • Investment earnings and/or losses;
  • Distributions made from your individual account (if applicable); and
  • Administrative expenses, which are allocated proportionately across all individual accounts.

You may defer your Annuity Benefit payment until the required beginning date of the April 1st after you reach age 70 ½. Otherwise see below for eligibility events.

Eligibility Events

  • Upon retirement
  • In the event you are totally and permanently disabled as defined by the Board of Trustees.
  • If you leave covered employment and have no contributions paid on your behalf for at least 12 consecutive months.
  • If you die before or while you are collecting your benefit, the balance is paid to your named beneficiary or estate.

Benefit Amount

Your benefit is based on a negotiated contribution rate. Your employer will make contributions on your behalf to your account. These contributions accumulate over time and are updated on a monthly basis. Go to the Member Dashboard to view your account.

Account Statement

Once a year you will receive a formal account statement that lists:

  • Employer contributions made on your behalf;
  • Investment earnings and/or losses;
  • Distributions made from your individual account (if applicable); and
  • Administrative expenses, which are allocated proportionately across all individual accounts.

Payment Options

  • Periodic Payments (from 1 up to 15 years)
  • Lump-Sum Payment
  • Combination Lump-Sum/Periodic Payment
  • Rollover
  • Partial Rollover

There are automatic forms of payment for married and single participants. You are not required to elect the automatic form of payment based on your marital status. See the Summary Plan Description for complete details.

Periodic Payments (from 1 up to 15 years)

Automatic for unmarried participants (married participants may jointly elect). Lifetime monthly income for a specified period of time from 1 up to 15 years. If a participant dies before receiving the specified number of monthly payments, the beneficiary will receive remaining payments.

Lump-Sum Payment

Optional for any participant. Automatic for any participant with a benefit that is $5,000 or less. It can be paid (1) directly to you, (2) as a direct rollover or (3) split between payment to you and as a direct rollover. You will be notified by the Fund Office if your distribution is eligible for rollover treatment.

See the “Apply for Your Benefit” section for important tax considerations for the lump-sum payment.

Combination Lump-Sum/Periodic Payment

Optional for any participant. Combines lump-sum and periodic payment options.

Rollover

Optional for any participant with a balance of $200 or more. You may roll over your entire balance to another qualified retirement account, such as an IRA, without any tax consequences.

Partial Rollover

Optional for any participant with a balance of $500 or more. You may roll over a portion of your annuity balance (must be a minimum of $200) and have the remainder paid to you as a lump-sum payment.

Surviving Spouse/Beneficiary Benefits

The Plan provides benefits for your surviving spouse or designated beneficiary in the event of your death. The Fund Office can help your beneficiary through the process of applying for benefits and answering any questions about survivor benefits. They should call the Fund Office at 781-272-1000.

You will not start receiving your benefit automatically just because you have met the eligibility requirements and retired. You must apply for your benefit at least 30 days but not more than 90 days before the first month you are eligible to receive your Annuity Benefit. See the Summary Plan Description for complete details.

Apply

Print out an application form from the Forms/Resources section of this Web site, complete it and send a signed copy to the Fund Office. The application form includes detailed instructions on the documentation you need and payment options.

Rejecting Automatic Payment Options

With proper documentation (and spouses consent, if married), you may elect another payment option and reject the automatic form of payment in writing before your benefit payments begin.

When Payment Starts

Usually the first of the month following the 30-day period after you have met the eligibility requirements for a benefit and submitted a completed application for a benefit.

Your annuity must start no later than April 1st of the year after the year you reach age 70½.

Paying Taxes on Your Annuity Benefit

In the case of a direct payment, 20% will automatically be withheld to pay Federal income taxes. Massachusetts State income taxes also apply. With a direct rollover to an eligible retirement plan, no taxes or penalties will be withheld. You should be aware that a 10% Federal tax penalty may apply to most distributions made before attainment of age 59½.

Before deciding to retire or electing a payment form, you may want to consult with a professional tax adviser.

You have the right to appeal if your application for an Annuity Benefit is denied.

Applications Other than Disability

Initial Notification

The Fund Office will send you written notification within 90 days of the receipt of your application.

Right to Appeal

Within 60 days after receipt of the notice of denial, you or your authorized representative may request, in writing, a review of the decision.

Disability Applications

Initial Notification

The Fund Office will send you written notification within 45 days of the receipt of your application.

Right to Appeal

Within 180 days after receipt of the notice of denial, you or your authorized representative may request, in writing, a review of the decision.

All Applications

Authorized Representative

You may appoint an authorized representative to act on your behalf. However, you must send written notification in advance to Board of Trustees and a Power of Attorney or signed authorization to the Fund Office.

Review of Documents

You may request, free of charge, to review relevant documents used in making the benefit determination.

Presumption

If you fail to request a review and/or hearing within the 60- or 180-day appeal period, it will be determined that you accept the denial of your application by the Trustees.

Notification of Decision

The Trustees will make a decision about the request for review at their next scheduled meeting which is at least 30 days after the receipt of the request for review. If the request for review is filed within 30 days preceding the date of their meeting, then a benefit determination may be made no later than the second meeting.