Click each question below to learn more information. For any additional questions you may have, please contact the Benefit Office at (781) 272-1000 or (800) 342-3792.


What is the Plan Year?

The Plan year is January 1 through December 31.

Do I need to do anything to enroll in the Plan?

No. You will become a participant automatically after you have worked in covered employment and the Fund receives contributions for at least 100 hours in a calendar year on your behalf. If you are not married you should complete a Beneficiary Designation Form and submit it to the Fund Office.

When is the valuation date?

You will receive an annual statement (usually in late fall) that shows the value of your individual account as of December 31 of each year.

When do I become vested?

After completing 100 hours of covered employment during a fiscal year (January 1st through December 31st)

When will I become eligible to withdraw?

You are entitled to the full value of your account (1) if you are totally and permanently disabled (as determined by the Social Security Administration); or (2) collecting a pension; or (3) are at the end of a 12 consecutive month period for which no contributions have been received on your behalf; or (4) upon your death, your beneficiary or estate will receive the benefit.

When I die, does my annuity go to a beneficiary or estate if I am not married?

Yes. Upon your death, your benefit will go to the beneficiary (or estate) you elected on the beneficiary designation form on file at the Fund Office. If you have not completed a beneficiary designation form, go to the forms page to print one out. Once it is completed, send to the Fund Office.

How much will I receive when I decide to withdraw my annuity?

The amount of your benefit will be based on the balance of your individual account as of the last monthly valuation date, plus any employer contributions made since the last valuation date, less any distributions or administrative expenses. For example, if you apply June 1 (your application must be received no later than the 20th of the month), the amount you receive July 1 will be based on the value of your account as of May 30.

What is considered an administrative expense?

Administrative expenses include any expense that is associated with operating the Fund, such as day-to-day expenses (payroll, taxes, office rent and telephone) and professional consulting fees (legal, accounting, investment management fees and programming fees. The administrative expenses are divided proportionately across all participants’ individual accounts.

Can I change my payment form after I start receiving my annuity benefit?

No. Once you begin to receive your benefit, you cannot change to a different payment form.

Will my annuity benefit affect my Social Security Benefit?

Plan benefits and Social Security benefits are separate benefits. The benefits payable under the Plan are in addition to benefits paid under Social Security. Annuity Plan benefits will not reduce your Social Security benefits.

Can I take a hardship withdrawal or a loan of any kind?

No. The Plan does not offer either of these options.

Can I roll over my own money or make a contribution into my existing annuity?

No. Only the collectively bargained employer contributions are allowed to be contributed to your account.

Can I withdraw a portion of my benefit and leave the remaining amount in?

You are now able to withdraw a portion of your Annuity balance (if eligible) and leave the remainder in the account.

Will there be a penalty for withdrawing?

If you are under age 59 1/2, there will be a 10% Federal early withdrawal penalty tax in certain circumstances. Therefore, you should carefully read “The Special Tax Notice Regarding Plan Payments” that will be provided to you at the time you elect to receive your benefits. You may pay this penalty at the time of withdrawal or upon filing your income taxes.

What amount of taxes will be withheld?

There is a mandatory Federal income tax of 20% imposed on all lump-sum distributions and most periodic distributions. There is also a 10% Federal early withdrawal penalty tax imposed on most lump-sum distributions made before age 59 ½ or age 55, if retired and collecting a pension. Massachusetts State tax is 6%. The 10% Federal penalty tax and the State tax can be paid at the time of distribution or upon filing your income taxes.

When will I receive the check?

Applications completed and returned by the 15th of the month will be mailed out the last working day of that month. If your application is approved, the check will be dated for the first of the following month.

Can I pick up my check?

No. All checks are sent out regular mail delivery due to the high monthly volume.

If I choose to roll over my money, will the check be mailed to me?

No. It will be mailed directly to the institution you have chosen.

If I die before I withdraw, who is entitled to my annuity?

If you are married, generally your spouse is automatically the beneficiary. If you are not married, be sure to request a beneficiary card. If you do not have a beneficiary named, someone must first become the administrator of your estate by going through Probate court before a benefit can be distributed.

If I die, will my spouse or other beneficiary automatically be contacted about death benefits?

If you are actively employed when you die, the Fund Office will contact your spouse or beneficiary if the Fund Office is notified of the death. Otherwise, your spouse or beneficiary will need to notify the Fund Office of your death to get the process started. You should alert your spouse or beneficiary to that requirement.

What happens if my wife remarries after I die? Will she lose her benefit from the Plan?

No. Payments to your surviving spouse will not be affected by remarriage.

When should I submit my application for Annuity withdrawal?

Your completed Annuity application should be submitted by the 15th of the month prior to the month you become eligible to collect your Annuity. Your check will be mailed on the 1st of that month.

If I take my Annuity in monthly payments over a number of years that I chose, does the remaining balance still accrue interest?

Yes. Any remaining balance in your account is subject to earnings or losses from investments. Also, your monthly check amount will be adjusted once a year to reflect these gains or losses.

What forms of Identification do I need to submit with my Annuity application?

A photo-copy of your Birth Certificate, or one of the other documents listed on the application, PLUS a copy of your Social Security Card and a copy of your Driver’s License or a State issued photo- I.D.