Exhibit 7.06 

Plan Document and Amendments

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AMERICAN FEDERATION OF MUSICIANS AND 

EMPLOYERS' PENSION PLAN 

(As Amended and Restated Effective as of January 1, 2014) 
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TABLE OF CONTENTS 

INTRODUCTION ........................................................................................................................... 1 

ARTICLE 1 DEFINITIONS ........................................ .................................................................... 2 

SECTION 1.01 ACTIVE PARTICIPANT .................................................................................. 2 

SECTION 1.02 ACTUARJAL EQUIVALENT .......................................................................... 2 

SECTION 1.03 ADMINISTRATIVE COMMITTEE ................................................................. 2 

SECTION 1.04 AFM ................................................................................................................... 2 

SECTION 1.05 BASIC MONTHLY AMOUNT ........................................................................ 2 

SECTION 1.06 BENEFICIARY ................................................................................................. 2 

SECTION 1.07 CODE ................................................................................................................. 3 

SECTION 1.08 CONTRJBUTIONS OR EMPLOYER CONTRIBUTIONS ............................. 3 

SECTION 1.09 COVERED EARNINGS OR EARNINGS ....................................................... .3 

SECTION 1.10 COVERED EMPLOYMENT ........................................................................... .4 

SECTION 1.11 DISABILITY PENSION BENEFIT ................................................................. .4 

SECTION 1.12 ELIGIBILITY COMPUTATION PERIOD ....................................................... 4 

SECTION 1. 13 EMPLOYEES .................................................................................................... 4 

SECTION 1.14 EMPLOYERS OR CONTRJBUTING EMPLOYERS ..................................... .4 

SECTION 1.15 ERISA ................................................................................................................ 5 

SECTION 1.16 FUND OFFICE .................................................................................................. 5 

SECTION 1.17 HOURS CREDITED ......................................................................................... 5 

SECTION 1.18 50% JOINT AND SURVIVOR ANNUITY ...................................................... 6 

SECTION 1.19 75% JOINT AND SURVIVOR ANNUITY ...................................................... 6 

SECTION 1.20 JOINT ANNUITANT ........................................................................................ 6 

SECTION 1.21 MATERNITY OR PATERNITY ABSENCE ................................................... 6 

SECTION 1.22 NORMAL RETIREMENT AGE ....................................................................... 6 

SECTION 1.23 ONE-YEAR BREAK IN SERVICE .................................................................. 7 

SECTION 1.24 PARTICIPANT .................................................................................................. 7 

SECTION 1.25 PENSION CREDIT ........................................................................................... 7 

SECTION 1.26 PENSION EFFECTIVE DATE ......................................................................... 8 

SECTION 1.27 PENSION PLAN OR PLAN ............................................................................. 8 

SECTION 1.28 PENSIONER ...................................................................................................... 8 

SECTION 1.29 PERIOD OF MILITARY SERVICE ................................................................. 8 

SECTION 1.30 PLAN ADMINISTRATOR ............................................................................... 9 

SECTION 1.31 PLAN YEAR ..................................................................................................... 9 

SECTION 1.32 PRE-RETIREMENT DEATH BENEFIT .......................................................... 9 

SECTION 1.33 QUALIFIED ELECTION .................................................................................. 9 

SECTION 1.34 REGULAR PENSION BENEFIT ..................................................................... 9 

SECTION 1.35 RE-DETERMINATION BENEFIT ................................................................... 9 

SECTION 1.36 RE-RETIREMENT BENEFIT .......................................................................... 9 

SECTION 1.37 RETIREMENT ACCOUNT ............................................................................ 10 

SECTION 1.38 SINGLE LIFE ANNUITY ............................................................................... 10 

SECTION 1.39 SPOUSE ........................................................................................................... 10 
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SECTION 1.40 TOTAL DISABILITY ..................................................................................... 10 

SECTION 1.41 TRUST AGREEMENT ................................................................................... 10 

SECTION 1.42 TRUSTEES ...................................................................................................... 10 

SECTION 1.43 TRUST FUND, FUND, OR PENSION FUND .............................................. .10 

SECTION 1.44 VESTING CREDIT (CANADA) ................................................................... .10 

SECTION 1.45 YEAR OF SERVICE ...................................................................................... .11 

SECTION 1.46 YEAR OF VESTING SERVICE ..................................................................... 11 

ARTICLE 2 PARTICIPATION .................................................................................................... 13 

SECTION 2.01 ELIGIBILITY TO PARTICIPATE ................................................................. 13 

SECTION 2.02 EXCLUSION OF LEASED EMPLOYEES ................................................... .13 

SECTION 2.03 TERMINATION OF PARTICIPATION ........................................................ .13 

SECTION 2.04 REINSTATEMENT OF PARTICIPATION ................................................... 13 

ARTICLE 3 CONTRIBUTIONS .................................................................................................. 15 

SECTION 3.01 AGREEMENT TO CONTRIBUTE ................................................................ 15 

SECTION 3.02 FAILURE OF EMPLOYER TO CONTRIBUTE .......................................... .15 

SECTION 3.03 EMPLOYEE CONTRIBUTIONS .................................................................. .15 

ARTICLE 4 VESTING .................................................................................................................. 16 

SECTION 4.01 VESTED PERCENTAGE IN REGULAR PENSION BENEFIT .................. .16 

SECTION 4.02 BREAKS IN SERVICE ................................................................................... 16 

ARTICLE 5 PENSION ELIGIBILITY AND AMOUNTS .......................................................... .17 

SECTION 5.01 GENERAL ....................................................................................................... 17 

SECTION 5.02 REGULAR PENSION BENEFIT ELIGTBILITY ........................................... 17 

SECTION 5.03 REGULAR PENSION BENEFIT AMOUNT ................................................. 17 

SECTION 5.04 DISABILITY PENSION BENEFIT ELIGIBILITY ...................................... .19 

SECTION 5.05 DISABILITY PENSION BENEFIT AMOUNT ............................................. 20 

SECTION 5.06 REDETERMINATION OF PENSION BENEFITS ........................................ 21 

SECTION 5.07 NON-DUPLICATION OF PENSION BENEFITS ......................................... 25 

SECTION 5.08 MAXIMUM BENEFITS ................................................................................. 25 

SECTION 5.09 TOP HEAVY DETERMINATION ............................................................... 27 

ARTICLE 6 RETIREMENT ACCOUNT BENEFITS ................................................................ .32 

SECTION 6.01 RETIREMENT ACCOUNT BALANCE ....................................................... .32 

SECTION 6.02 CREDITS TO RETIREMENT ACCOUNT .................................................... 32 

SECTION 6.03 ELIGIBILITY FOR RETIREMENT ACCOUNT BENEFIT ......................... 32 

ARTICLE 7 PAYMENTS ON DEATH ....................................................................................... .34 

SECTION 7.01 PRE-RETIREMENT DEATH BENEFIT 

FOR VESTED PARTICIPANfS .................................................................. 34 

SECTION 7.02 RETIREMENT ACCOUNT DEATH BENEFIT ........................................ 35 

SECTION 7 .03 APPLICATION AND ELIGIBILITY FOR A DEA TH BENEFIT ................. 3 5 

SECTION 7.04 ADDITIONAL DEATH BENEFIT RULES ................................................... 35 

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ARTICLE 8 METHOD AND TIMING OF DISTRIBUTION OF BENEFITS ........................... 37 

SECTION 8.01 NORMAL FORM OF DISTRIBUTION OF PENSION BENEFITS ............. 37 

SECTION 8.02 QUALIFIED ELECTION; OPTIONAL FORMS OF PAYMENT ................. 37 

SECTION 8.03 NOTICE OF NORMAL FORM OF PAYMENT TO PARTICIPANTS ........ 38 

SECTION 8.04 LUrvtP-SUM CASH-OUT OF SMALL BENEFITS ..................................... 38 

SECTION 8.05 COMMENCEMENT OF PENSION BENEFITS GENERALLY .................. 38 

SECTION 8.06 TIMING AND DISTRIBUTION OF BENEFITS ......................................... ..40 

SECTION 8.07 FORFEITURE OF UNCLAIMED BENEFITS OF LOST PARTICIPANTS 

OR BENEFICIARIES .................................................................................... 45 

ARTICLE 9 PLAN AMENDMENT AND TERMINATION ...................................................... .47 

SECTION 9.01 AMENDMENT ................................................................................................ 47 

SECTION 9.02 TERMINATION .............................................................................................. 47 

AR TI CLE 10 ADMINISTRATION .............................................................................................. 49 

SECTION 10.01 GENERAL ADMINISTRATION ................................................................ .49 

SECTION 10.02 AUTHORITY OF TRUSTEES .................................................................... .49 

SECTION l0.03 INFORMATION AND PROOF .................................................................... 49 

SECTION 10.04 CLAIMS PROCEDURE ................................................................................ 50 

SECTION 10.05 EXCLUSIVE PROCEDURE FOR CORRECTING PLAN RECORDS 

RELATING TO COVERED EMPLOYMENT ............................................. 53 

ARTICLE 11 MISCELLANEOUS ............................................................................................... 54 

SECTION 11.01 RETURN OF CONTRIBUTIONS ................................................................ 54 

SECTION 11.02 LIMITATION OF LIABILITY ..................................................................... 54 

SECTION I 1.03 MERGERS, CONSOLIDATIONS AND TRANSFERS OF ASSETS ......... 54 

SECTION 11.04 DIRECT ROLLOVER OF ELIGIBLE ROLLOVER DISTRIBUTIONS .... 54 

SECTION 11.05 NON-ALIENATION OF BENEFITS ........................................................... 56 

SECTION 11.06 BENEFIT OVERPAYMENTS ...................................................................... 56 

SECTION 11.07 INCOMPETENCE OR INCAPACITY OF PENSIONER OR 

BENEFICIARY .............................................................................................. 56 

SECTION I 1.08 GENDER AND NUMBER ............................................................................ 57 

SECTION I 1.09 APPLICABLE LAW ..................................................................................... 57 

SECTION 11.10 NEW EMPLOYERS ...................................................................................... 57 

SECTION 11.11 DEFINITIONS ............................................................................................... 57 

SECTION 11.12 SEVERABILITY ........................................................................................... 57 

SECTION 11.13 SUCCESSOR PROVISIONS OF LAW ........................................................ 57 

SECTION 11.14 CONSTRUCTION ......................................................................................... 57 

SECTION 11, 15 RIGHTS IN FUND ........................................................................................ 57 

SECTION 11.16 PROVISIONS INCONSISTENT WITH QUALIFIED STATUS ................. 57 

ARTICLE 12 MERGER OF THE FUND STAFF EMPLOYEES' PENSION PLAN ................. 59 

SECTION 12.01 DEFINITIONS ............................................................................................... 59 

SECTION 12.02 MERGER OF THE STAFF PLAN INTO THE FUND ................................ 59 

SECTION 12.03 STAFF PLAN PENSIONERS ....................................................................... 59 

SECTION 12.04 STAFF PLAN TERMINATED VESTED PARTICIPANTS ........................ 59 

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SECTION 12.05 STAFF PLAN ACTIVE PARTICIPANTS ................................................... 60 

ARTICLE 13 MERGER OF THE AFM RETIREMENT PLAN .................................................. 61 

SECTION 13.01 DEFINITIONS ............................................................................................... 61 

SECTION 13.02 MERGER OF THE AFM PLAN INTO THE FUND .................................... 61 

SECTION 13.03 AFM PLAN PENSIONERS .......................................................................... 61 

SECTION 13.04 AFM PLAN TERMINATED VESTED PARTICIPANTS ........................... 61 

SECTION 13.05 AFM PLAN ACTIVE PARTICIPANTS ....................................................... 62 

ARTICLE 14 PUERTO RICO EMPLOYEES .............................................................................. 64 

SECTION 14.01 INTRODUCTION ......................................................................................... 64 

SECTION 14.02 APPLICABILITY OF THIS ARTICLE ........................................................ 64 

SECTION 14.03 ADDITIONAL DEFINITIONS OF TERMS ................................................ 64 

SECTION 14.04 EFFECT OF THIS ARTICLE ....................................................................... 64 

APPENDIX A ACTUARIAL FACTORS ..................................................................................... 67 

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AMERICAN FEDERATION OF MUSICIANS AND EMPLOYERS' 

PENSION PLAN 

(Amended and Restated Effective as of January 1, 2014) 

INTRODUCTION 

The Board ofTrnstees of the American Federation of Musicians and Employers' Pension 

Fund (the "Fund"), acting pursuant to the Agreement and Declaration of Trust establishing the 

Fund, as amended, hereby adopt the following amended and restated American Federation of 

Musicians and Employers' Pension Plan (the "Plan"), effective as of January l, 2014 (unless 

another effective date is otherwise specified herein), for the exclusive benefit of eligible 

employees of contributing employers to the Fund and their beneficiaries. 

This amended and restated Plan document constitutes an amendment, effective as of 

January 1, 2014 (except as may otherwise be provided herein), to the American Federation of 

Musicians and Employers' Pension Plan, as Amended and Restated Effective as of June 1, 2010, 

and all amendments thereto (the "Prior Plan"), and supersedes and replaces the Prior Plan with 

respect to all benefits under the Plan with a Pension Effective Date on or after January 1, 2014. 

The provisions governing benefits with a Pension Effective Date before the dates described in 

the preceding sentence are set forth in the Prior Plan (or such earlier version of the Plan 

document as described in the Prior Plan), except as may otherwise be required by law or 

specifically provided herein. 

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ARTICLE 1 

DEFINITIONS 

Section 1.01 ACTIVE PARTICIPANT. The tenn "Active Participant" shall mean an 

Employee who meets the requirements for participation in the Plan as set forth in Section 2.01 

and whose active participation in the Plan has not ceased pursuant to Section 2.03. 

Section 1.02 ACTUARIAL EQUIVALENT. The term "Actuarial Equivalent" shall mean 

a benefit payable under this Plan in accordance with a benefit payment option available herein 

which is of equivalent actuarial value to the benefit otherwise payable to such Participant. The 

actuarial factors used to calculate Actuarial Equivalent benefits are the factors set forth in 

Appendix A, as may from time to time be amended by the Trustees. 

Section 1.03 ADMINISTRATIVE COMMITTEE. The term "Administrative Committee" 

shall mean the Administrative Committee of the Trustees as designated by the Trustees from 

time to time. 

Section 1.04 AFM. The term "AFM" shall mean the American Federation of Musicians of 

the United States and Canada, and any local unions (and certain related entities) duly affiliated 

therewith. 

Section 1.05 BASIC MONTHLY AMOUNT. The te1m "Basic Monthly Amount" shall 

mean the amount detennined pursuant to Section 5.03(a). 

Section 1.06 BENEFICIARY. The tenn "Beneficiary" shall mean that natural person 

entitled to payments following the death of the Participant in accordance with a properly made 

designation by the Participant on a form provided by the Fund, and subject to the rules set forth 

below. 

a) For purposes of the Pre-retirement Death Benefit, a Participant may designate up 

to three individuals (or if greater, the number of the Participant's natural children 

or children placed with the Participant for adoption) as primary Beneficiary, and 

up to three individuals (or if greater, the number of the Participant's natural 

children or children placed with the Participant for adoption) as alternate 

Beneficiary. The designated primary Beneficiary(ies) will be considered to be the 

Beneficiary for purposes of this subsection (a) except as set forth in subsection (c) 

below. 

(1) If more than one primary Beneficiary is designated, any payments under 

this subsection (a) will be divided ratably among them unless the 

Participant specified different allocations on the designation form. If any 

one or more (but not all) dies before the Participant's death, the Preretirement Death Benefit will be divided ratably among the living primary 

Beneficiaries. 

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(2) A person named as an alternate Beneficiary shall become the Beneficiary 

only if none of the persons named as primary Beneficiary is alive on the 

date of the Participant's death. 

(b) Designation of Minors. A Participant may designate a minor as a primary or 

alternate Beneficiary only if such designation is properly made in accordance 

with the requirements of the designation forms provided by the Plan 

Administrator for such purpose. 

(c) Spouse as Beneficiary. Notwithstanding anything in this Section to the contrary, 

to the extent required by Articles 6, 7 and 8, the deceased Participant's surviving 

Spouse shall automatically be the Beneficiary for all purposes of the Plan 

regardless of previous designations on file at the Fund Office. 

(d) Joint Annuitant as Beneficiary. Notwithstanding anything in this Section to the 

contrary, for purposes of Sections 8.06 (Timing and Distribution of Benefits), 

8.07 (Forfeiture of Unclaimed Benefits of Lost Participants or Beneficiaries), 

10.03 (Information and Proof), 11.05 (Non-Alienation of Benefits), 11.06 

(Benefit Overpayments), and 11.15 (Rights in Fund), the term "Beneficiary" shall 

also include a Joint Annuitant. 

Section 1.07 CODE. The term "Code" shall mean the Internal Revenue Code of 1986, as 

amended, and all regulations promulgated pursuant thereto. 

Section 1.08 CONTRIBUTIONS OR EMPLOYER CONTRIBUTIONS. The terms 

"Contributions" or "Employer Contributions" shall mean the monies required to be paid to the 

Trust Fund by Employers pursuant to the te1ms of the Trust Agreement, applicable collective 

bargaining agreement, participation agreement, or similar agreement acceptable to the Trustees. 

Contributions or Employer Contributions shall be based solely on Covered Earnings received by 

Participants for Covered Employment. Notwithstanding the foregoing, the terms 

"Contributions" or "Employer Contributions" shall, to the extent required by law, also mean 

contributions credited on behalf of an Employee based on Covered Earnings credited for a Period 

of Military Service. 

Section 1.09 COVERED EARNINGS OR EARNINGS. The terms "Covered Earnings" 

or "Earnings" shall mean the earnings, not in excess of scale wages, received by an Employee 

from an Employer for Covered Employment which serve as the basis for which Contributions are 

required to be paid to the Trust Fund. Notwithstanding the foregoing, "Covered Earnings" or 

"Earnings" shall include earnings credited to an Employee for a Period of Military Service to the 

extent required by law, and shall not include any payments made after or in connection with the 

Participant's termination of employment except for payments that are specifically set forth as 

pensionable wages under the terms of a collective bargaining agreement, or except to the extent 

required by law. 

For purposes of determining benefit accruals, Covered Earnings or Earnings taken into 

account for any Employee for any calendar year shall not exceed the lesser of (i) $200,000, as 

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adjusted in accordance with Section 40l (a)(17) or (ii) $245,000; provided, however, that this 

limitation shall apply separately with respect to each Employer from whom an Employee has 

Covered Earnings or Earnings. 

Section 1.1.0 COVERED EMPLOYMENT. The term "Covered Employment" shall mean 

the employment of an Employee by an Employer in a position for which the Employer is 

required to contribute to the Trust Fund, commencing with the first day of employment in such 

position. Notwithstanding the preceding sentence, the criteria used to establish categories of 

Covered Employment shall not directly or indirectly impose an age or service requirement, or 

have the effect of excluding part-time Employees. 

Section 1.11 DISABILITY PENSION BENEFIT. The term "Disability Pension Benefit'' 

shall mean the benefit described in Section 5.05 to which a Participant is entitled pursuant to 

Section 5.04. 

Section 1.12 ELIGIBILITY COMPUTATION PERIOD. The term "Eligibility 

Computation Period" shall mean the twelve consecutive month period beginning on the date an 

Employee is employed or reemployed by an Employer and each calendar year beginning after 

such date. 

Section 1.13 EMPLOYEES. The tenn "Employees" shall mean individuals employed by 

an Employer to render service as musicians pursuant to a collective bargaining agreement, 

participation agreement or similar agreement acceptable to the Trustees. In addjtion, if their 

respective Employers undertake in a written participation or similar agreement acceptable to the 

Trustees to make contributions to the Trust Fund (including, without limitation, if the Employer 

is the Trust Fund, written minutes of a meeting of the Trustees), the term "Employees" may also 

cover and include (i) employees of the Trust Fund itself, (ii) employees of the AFM (including, if 

applicable, duly elected or appointed officers and representatives of the AFM), and (iii) 

employees of any other employer acceptable to the Trustees who, with the consent of the 

Trustees, undertakes to contribute to the Trust Fund pursuant to such written agreement. The 

term "Employee," however, shall not cover or include (i) a self-employed person or sole 

proprietor which is an Employer (including, without Limitation, a band leader) who is acting as 

his or her own employee ( or the spouse of such person), (ii) the spouse of a person described in 

(i); or (iii) a partner of a partnership that is an Employer who is acting as an employee of such 

partnership; provided, however, that a shareho.lder of a corporation or an owner of a limited 

liability company ("LLC") (including, without limitation, a band leader) that is an Employer that 

is duly organized and operated under the laws of a State of the United States, who is employed 

by that corporation or LLC to render service as a musician pursuant to a coJlective bargaining 

agreement, participation agreement or similar agreement acceptable to the Trustees, and who was 

not an owner of an LLC who was a member of the plaintiff class in the Rochetti action that was 

settled in 1991, shall be considered an "Employee". 

Section 1.14 EMPLOYERS OR CONTRIBUTING EMPLOYERS. The tenns 

"Employers" or "Contributing Employers" shall mean (i) any employers acceptable to the 

Trustees who enter into collective bargaining agreements, participation agreements, or similar 

agreements acceptable to the Trustees, with the AFM obligating them to contribute to the Plan 

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and/or the Trust Fund with respect to their Employees, and (ii) any employers acceptable to the 

Trustees (including, without limitation, the Trust Fund and the AFM) who hereafter may, with 

the consent of the Trustees, undertake to contribute to the Trust Fund on behalf of their 

Employees pursuant to a written participation or similar agreement acceptable to the Trustees 

(including, without limitation, if the Trust Fund is the employer, written minutes of a meeting of 

the Trustees). 

For purposes of Sections l. l 2 (Eligibility Computation Period), 1.17 (Hours Credited), 

2.02 (Exclusion of Leased Employees), 5.08 (Maximum Benefits), 5.09 (Top-Heavy 

Determination) and 8.06(b) (Required Begiiming Date), and for purposes of the limit on Covered 

Earnings set forth in Section 1.09, the term "Employer" shall include (i) each corporation that is 

a member of a controlled group of corporations (as defined in Section 4 l 4(b) and the regulations 

thereunder) that includes an Employer, (ii) any trade or business under common control (as 

defined in Code section 414(c) and the regulations thereunder) with an Employer, (iii) any 

member of an affiliated service group (as defined in Code section 414(m) and the regulations 

thereunder) that includes an Employer, and (iv) any other entity required to be aggregated with 

an Employer under Code section 414( o) and the regulations thereunder. 

For purposes of Sections 1.12 (Eligibility Computation Period), 1.17 (Hours Credited), 

1.23 (One-Year Break in Service), 1.45 (Year of Service) and 1.46 (Year of Vesting Service), 

service with an Employer shall be deemed to include service with all of the Employers to the 

extent required by Code section 4 l 3(b ). 

Section 1.15 ERISA. The tenn "ERISA" shall mean the Employee Retirement Income 

Security Act of 1974, as amended, and all regulations promulgated pursuant thereto. 

Section 1.16 FUND OFFICE. The term "Fund Office" shall mean the Fund's 

administrative office, located at 14 Penn Plaza, Suite 1200, New York, NY 10122. 

Section 1.17 HOURS CREDITED. The te1m "Hours Credited", detennined in accordance 

with the equivalency based on earnings set forth in Section 2530.200b-3(f) of the U.S. 

Department of Labor regulations, shall mean: 

(a) in the case of an Employee whose compensation is determined on the basis of an 

hourly rate, the Employee's total earnings for the performance of duties for an 

Employer during the computation period divided by the Employee's lowest 

hourly rate of compensation during the computation period; and 

(b) in the case of an Employee whose compensation is determined on a basis other 

than an hourly rate, (i) the Employee's total earnings for the performance of 

duties for an Employer during the computation period, divided by (ii) the 

Employee's lowest rate of compensation during the computation period for a 

specified period of time divided by the number of hours regularly scheduled for 

the performance of duties during such period of time. 

Notwithstanding the above, for purposes of computing participation and vesting service, 

Hours Credited shall not be credited for "non-contiguous, non-covered service". "Non5 
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contiguous, noncovered service" shall mean service with an Employer which (i) is not within a 

job classification or class of Employees covered under the Plan, and (ii) does not immediately 

precede or follow a period of service which is within a job classification or class of Employees 

covered under the Plan without an intervening quit, discharge or retirement. 

Section 1.18 50% JOINT AND SURVIVOR ANNUITY. The term "50% Joint and 

Survivor Annuity" shall mean a monthly annuity for the life of the Participant with a survivor 

monthly annuity for the life of the Participant's Joint Annuitant which is equal to 50 % of the 

amount of the annuity which was payable during the joint lives of the Participant and the Joint 

Annuitant. After the Pension Effective Date of a Pensioner's 50% Joint and Survivor Annuity, 

there shall be no adjustment in the monthly amount of pension benefit payable to the Pensioner 

due to the Pensioner's subsequent divorce or the subsequent death of the Pensioner's Joint 

Annuitant. 

Section 1.19 75%, JOINT AND SURVIVOR ANNUITY. The term "75% Joint and 

Survivor Annuity" shall mean a monthly annuity for the life of the Participant with a monthly 

survivor annuity for the life of the Participant's 75% Joint Annuitant which is equal to 75% of 

the amount of the annuity which was payable during the joint lives of the Participant and the 

Joint Annuitant. After the Pension Effective Date of a Pensioner's 75% Joint and Survivor 

Annuity, there shall be no adjustment in the monthly amount of pension benefit payable to the 

Pensioner due to the Pensioner's subsequent divorce or the subsequent death of the Pensioner's 

75% Joint Annuitant. 

Section 1.20 JOINT ANNUITANT. The term "Joint Annuitant" shall mean that person 

designated by the Participant in writing, on the form(s) provided by the Plan Administrator for 

such pmpose, to receive payment of the survivor portion of the 50% Joint and Survivor Annuity 

or the 75% Joint and Survivor Annuity. Notwithstanding anything in this Section to the 

contrary, to the extent required by Article 8, the Participant's Spouse shall be such Participant's 

Joint Annuitant. 

Section 1.21 MATERNITY OR PATERNITY ABSENCE. The term "Maternity or 

Paternity Absence" shall mean an absence from work for any period (i) by reason of the 

pregnancy of the individual, (ii) by reason of the birth of a child of the individual, (iii) by reason 

of the placement of a child with the individual in connection with the adoption of such child by 

such individual, or (iv) for purposes of caring for such child for a period beginning immediately 

following such birth or placement. The Plan Administrator may require from an Employee, as a 

condition to granting credit for a Maternity or Paternity Absence, such evidence as the 

Administrative Committee shall deem necessary to establish the cause or duration of the absence. 

Section 1.22 NORMAL RETIREMENT AGE. The term "Normal Retirement Age" shall 

mean the later of: 

(a) the date a Participant attains age 65, provided the Participant is an Active 

Participant on such date; or 

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(b) the fifth anniversary of the date the Participant commenced participation in the 

Plan ( disregarding participation prior to April 1, 1988) or, if earlier, the tenth 

anniversary of the date the Participant commenced participation in the Plan, 

provided the Participant is an Active Participant on such applicable anniversary. 

For purposes of subsection (b) of this Section, participation preceding a "Permanent 

Break-in-Service" (as described in Section 4.02) is disregarded. 

Section 1.23 ONE-YEAR BREAK IN SERVICE. The term "One-Year Break In Service" 

shall mean a calendar year during which an Active Participant fails to both (i) earn at least 1/4 

year of Pension Credit, and (ii) complete more than 435 Hours Credited in the case of a 

Participant paid on an hourly basis, or 375 Hours Credited in the case of a Participant not paid on 

an hourly basis (in accordance with the equivalency set forth in Section 2530.200b-3(f) of the 

U.S. Department of Labor regulations). 

Solely for purposes of determining whether a One-Year Break in Service has occuued for 

purposes of computing participation and vesting service, an Active Participant who is on a 

Maternity or Paternity Absence, or who is absent from work on a leave required to be provided 

under the Family and Medical Leave Act of 1993, shall receive credit for 1/4 year of Pension 

Credit. The 1/4 year of Pension Credit shall be credited to the calendar year in which such 

absence begins if the crediting is necessary to prevent the occurrence of a One-Year Break in 

Service in that period, or in all other cases, to the following calendar year. 

A One-Year Break in Service shall not result from a period during which an Employee 

earns pension credit under the Musicians' Pension Fund of Canada. 

Section 1.24 PARTICIPANT. The term "Participant" shall mean an Active Participant, a 

Pensioner, or a former Employee who has a right to a pension benefit under this Plan. 

Section 1.25 PENSION CREDIT. The term "Pension Credit" shall mean credit granted to 

a Participant under the Plan during a calendar year for purposes of determining participation and 

eligibility for benefits. 

Pension Credit shall be credited in units of years and 1/4 years in accordance wi1h the 

following schedule: 

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Covered Eamings 

Earned During a Calendar 

Year from 

1977 through 2003 : 

$1,500 or more 

at least $1,125 

but less than $1,500 

at least $750 

but less than $1, 125 

at least $375 but less than 

$750 

less than $375 

Covered Earnings Earned 

During Calendar 

Year 2004 or Later Year: 

$3,000 or more 

at least $2,250 

but less than $3,000 

at least $1,500 

but less than $2,250 

at least $750 

but less than $1,500 

less than $750 

Pension Credit Earned 

For That 

Calendar Year: 

1 year 

3⁄4 year 

1/z year 

1⁄4year 

no Pension Credit 

Notwithstanding the preceding schedule, any Participant with three or more Years of 

Vesting Service as of December 31, 2003 shall have his or her Pension Credit calculated in 

accordance with the left column of the preceding schedule for 2004 and later unless such 

Participant incurs a "Permanent Break-In-Service" under the provisions of Section 4.02. 

Section 1.26 PENSION EFFECTIVE DATE. The term "Pension Effective Date" shall 

mean the first day of the first period for which an amount is paid or payable as an annuity or any 

other form. 

Section 1.27 PENSION PLAN OR PLAN. The terms "Pension Plan" or "Plan" shall mean 

this American Federation of Musicians and Employers' Pension Plan document, and all rules, 

regulations and policies adopted by the Trustees pursuant thereto, as hereafter amended from 

time to time, which Plan shall be funded pursuant to the Trust Agreement. 

Section 1.28 PENSIONER. The term "Pensioner" shall mean a person to whom a pension 

benefit under this Plan is being paid or to whom a pension benefit would be paid but for 

administrative processing. 

Section 1.29 PERIOD OF MILITARY SERVICE. The term "Period of Military Service" 

shall mean, for an Employee who (i) served as a member of the armed forces of the United States 

(including the Reserves and National Guard), and (ii) was reemployed at a time when the 

Employee had a right to reemployment in accordance with seniority rights as protected under 

Title 38 of the U.S. Code including, without limitation, the provisions of the Uniformed Services 

Employment and Reemployment Rights Act (or any successor provisions), the period of time 

from the date the Employee was first absent from active work because of such military duty to 

the date the Employee was reemployed. An Employee who has a Period of Military Service 

must notify the Plan Administrator in writing of such upon reemployment and supply the Plan 

Administrator with such evidence as the Administrative Committee shall require in order to 

substantiate such claim and determine such Employee's rights under the Plan. 

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Section 1.30 PLAN ADMINISTRATOR. The term "Plan Administrator," as defined in 

ERISA section 3(14), shall mean the Trustees or the person(s) duly appointed by the Trustees to 

serve as the Fund Administrator. 

Section 1.31 PLAN YEAR The term "Plan Year" shall mean the fiscal year of the Fund 

which is each twelve consecutive month period beginning on April 1 and ending on the 

following March 31. 

Section 1.32 PRE-RETIREMENT DEATH BENEFIT. The term "Pre-retirement Death 

Benefit" shall mean the death benefit described in Section 7.01 or Section 7.02. 

Section 1.33 QUALIFIED ELECTION. The term "Qualified Election" shall mean a 

written waiver, by a Participant who has a Spouse, of a 50% Joint and Survivor Annuity on a 

form provided by the Plan Administrator, of a 50% Joint and Survivor Annuity on a form 

provided by the Plan Administrator that satisfies the following requirements: 

(a) the Participant's Spouse consents in writing to the election; 

(b) the election designates a specific alternate Joint Annuitant, that may not be 

changed without spousal consent (such change being permissible only prior to the 

Participant's Pension Effective Date); 

( c) the election designates a specific form of benefit payment which may not be 

changed without further spousal consent (such change being permissible only 

prior to the Participant's Pension Effective Date); 

( d) the Spouse's consent acknowledges the effect of the election; and 

(e) the Spouse's consent is witnessed by a notary public or a Plan representative duly 

authorized by the Plan Administrator. 

Section 1.34 REGULAR PENSION BENEFIT. The term "Regular Pension Benefit" shall 

mean the benefit described in Section 5.03 to which a Participant is entitled pursuant to Section 

5.02. 

Section 1.35 RE-DETERMINATION BENEFIT. The term "Re-Determination Benefit" 

shall mean the benefit described in Section 5.06(d) (or 5.06(c), in the case of an early retirement 

Disability Pensioner as described therein) that is earned by a Pensioner after Normal Retirement 

Age. 

Section 1.36 RE-RETIREMENT BENEFIT. The term "Re-Retirement Benefit" shall 

mean the benefit described in Section 5.06(b) (or 5.06(c), in the case of an early retirement 

Disability Pensioner as described therein) that is earned by a Pensioner prior to Normal 

Retirement Age. 

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Section 1.37 RETIREMENT ACCOUNT. The term "Retirement Account" shall mean the 

Plan account established pursuant to Article 6 for each Employee on behalf of whom 

Contributions were paid to the Trust Fund prior to January 1, 1968. 

Section 1.38 SINGLE LIFE ANNUITY. The term "Single Annuity" shall mean a monthly 

annuity for the life of the Participant, with no further amounts payable after the Participant's 

death. 

Section t .39 SPOUSE. Effective June 26, 2013, and notwithstanding any other provision of 

the Plan to the contrary, the term "Spouse" shall mean the person to whom the Participant is 

legally married under applicable law on his or her date of death (in the case of a Pre-retirement 

Death Benefit), or on his or her Pension Effective Date (in the case of a pension benefit), or on 

the date of a waiver as described in the following sentence. Notwithstanding the foregoing, a 

Participant shall be deemed not to have a Spouse if (i) it is established to the satisfaction of the 

Plan Administrator that the Participant's Spouse cannot be located, or the Participant and the 

Participant's Spouse are legally separated and the Participant has provided the Fund with a court 

order to that effect, or there is a court order confirming that the Participant's Spouse has 

abandoned the Participant, and (ii) the Participant waives the right to a Pre-retirement Retirement 

Death Benefit with his or her Spouse as Beneficiary, or to the 50% Qualified Joint and Survivor 

Annuity or 75% Qualified Joint and Survivor Annuity with his or her Spouse as Beneficiary. 

Section 1.40 TOTAL .DISABILITY. The te1m "Total Disability" shall mean the total and 

permanent inability of an Employee, as a result of medically-diagnosed physical or mental 

disease or injury, to engage in Covered Employment for remuneration as determined in the sole 

discretion of the Administrative Committee on the basis of medical and any other evidence 

satisfactory to the Administrative Committee, in accordance with Section 5.04(b). 

Section 1.41 TRUST AGREEMENT. The term "Trust Agreement" shall mean the 

Agreement and Declaration of Trust establishing the American Federation of Musicians and 

Employers' Pension Fund, originally adopted as of October 2, 1959, and as last amended and 

restated effective as of April 1, 2005, creating the Trust Fund, including any additional 

amendments thereto or modifications thereof. 

Section 1.42 TRUSTEES. The term "Trustees" shall mean collectively the board of 

trustees of the Trust Fund, designated pursuant to the Trust Agreement, together with their 

alternates, successors, and assigns designated in the manner provided therein. 

Section 1.43 TRUST FUND, FUND, OR PENSION FUND. The terms "Trust Fund", 

"Fund", or "Pension Fund" shall mean the American Federation of Musicians and Employers' 

Pension Fund established under the Trust Agreement to hold the assets of the Plan, administered 

pursuant to the terms and conditions of the Trust Agreement. 

Section 1.44 VESTING CREDIT (CANADA). The term "Vesting Credit (Canada)" shall 

mean vesting credit credited to an Employee under the Musician's Pension Fund of Canada 

during a calendar year, which shall be credited in units of years and 1/4 years. 

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Section 1.45 YEAR OF SERVICE. The term "Year of Service" shall mean, for purposes 

of determining eligibility to participate in the Plan, an Eligibility Computation Period, or for 

purposes of determining vesting, a calendar year with respect to which the sum of the following 

two fractions equals or exceeds 1 : 

(a) a fraction, the numerator of which is the amount of the Employee's Covered 

Earnings in the applicable period and the denominator of which is the dollar 

amount of Covered Earnings that corresponds to one year of Pension Credit for 

the applicable calendar year in accordance with Section 1.25; and 

(b) a fraction, the numerator of which is the number of Hours Credited completed by 

the Employee during the applicable period for which such Employee did not earn 

Covered Earnings and the denominator of which is 870 in the case of an 

Employee paid on an hourly basis, or 7 50 in the case of an Employee not paid on 

an hourly basis (in accordance with the equivalency set forth in Section 

2530.200b-3(t) of the U.S. Department of Labor regulations). 

Credit for Years of Service shall be granted to an Employee for a Period of Military 

Service to the extent required by law. 

Section 1.46 YEAR OF VESTING SERVICE. The term "Year of Vesting Service" shall 

mean a one-year period of credit for purposes of determining vesting and eligibility for benefits 

which shall be credited to an Employee for: 

(a) each whole year of Pension Credit earned by such Employee (which may be the 

sum of fractional years of Pension Credit); 

(b) each Year of Service completed by such Employee; 

( c) to the extent required by Code section 411 and the Treasury regulations 

promulgated thereunder, each year of service with an Employer prior to the 

Employer's commencement of participation in the Plan, up to a maximum of five 

years, during which the Employee was covered under a 'predecessor plan' 

maintained by the Employer (as that term is defined in section l.41 l(a)-5(b)(3)(v) 

of the Treasury Regulations); 

(d) at the sole and absolute discretion of the Trustees with respect to any Employer, 

each year of service with the Employer prior to the Employer's commencement of 

participation in the Plan, up to a maximum of five years, during which the 

Employee was covered under an annuity plan described in Code section 403(b) 

maintained by the Employer, to the extent such service would be required to be 

credited for vesting purposes under section 1.411 (a)-S(b )(3)(v) of the Treasury 

Regulations had the annuity plan been a 'predecessor plan'; 

(e) each whole year of Vesting Credit (Canada) earned by such Employee (which 

may be the sum of fractional years of Vesting Credit (Canada)); and 

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(f) each whole year which is the sum of fractional years of Pension Credit and 

fractional years of Vesting Credit (Canada) earned by such Employee. 

Notwithstanding the preceding sentence, no more than one Year of Vesting Service shall be 

credited to an Employee for any single calendar year. 

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ARTICLE2 

PARTICIPATION 

Section 2.01 ELIGIBILITY TO PARTICIPATE. An Employee who is employed in 

Covered Employment shall become eligible to participate in the Plan upon completion of either 

1/4 year of Pension Credit or one Year of Service. 

(a) An Employee who becomes eligible to participate under subsection (a) shall 

retroactively become an Active Participant in the Plan as of the first day of the 

calendar year during which he or she completes the eligibility requirements of 

subsection (a). 

Section 2.02 EXCLUSION OF LEASED EMPLOYEES. To the extent required by Code 

section 414(n) only, a leased employee (as defined below) shall be treated as an Employee of an 

Employer. Leased employees shal I not be eligible to prnticipate in the Plan, and contributions or 

benefits provided by the leasing organization which are attributable to services performed for an 

Employer shall be treated as provided by the Employer. Notwithstanding the foregoing 

provision, this paragraph shall not apply to any leased employee if leased employees do not 

constitute more than 20 percent of the recipient's non-highly compensated workforce and such 

Employee is earning over $1,000 per year from the leasing organization and is covered by a 

money purchase pension plan maintained by the leasing organization which provides (i) a nonintegrated employer contribution rate of at least ten percent (10%) of compensation, (ii) 

immediate participation, and (iii) full and immediate vesting. When a leased employee becomes 

an Employee, his or her period of service as a leased employee and the period during which he or 

she would have been a leased employee, but for the requirement that services be performed on a 

substantially full-time basis for a least a yern-, will be counted for purposes of the Plan's vesting 

and eligibility requirements. 

For purposes of this Section 2.02, the term "leased employee" shall mean any person who 

is not an employee of an Employer and who provides services to an Employer if: (i) such 

services are provided pursuant to an agreement between the Employer and any leasing 

organization; (ii) such person ha<i performed such services for the Employer on a substantially 

full-time basis for a period of at least one yern-; and (iii) such services are performed under the 

primary direction or control of the Employer. 

Section 2.03 TERMINATION OF PARTICIPATION. An Active Participant who incurs 

a One-Year Break in Service shall cease to be an Active Participant as of the last day of the 

calendar year which constitutes the One-Year Break in Service. 

Section 2.04 REINSTATEMENT OF PARTICIPATION. An Employee who has lost his 

or her status as an Active Participant pursuant to Section 2.03 and is later reemployed by an 

Employer in Covered Employment, shall again be eligible to participate in the Plan as an Active 

Participant after completing either 1/4 year of Pension Credit or one Year of Service subsequent 

to such reemployment. Such Employee shall be retroactively reinstated as an Active Participant 

as of the first day of the calendar year during which he or she completes the requirements of the 

previous sentence. 

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(a) In the case of a former Active Participant who is not vested in a benefit under the 

Plan and who is later reinstated as an Active Participant, such Participant's Years 

of Vesting Service for purposes of vesting shall be calculated under the rules 

contained in Section 4.02. 

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ARTICLE3 

CONTRIBUTIONS 

Section 3.01 AGREEMENT TO CONTRIBUTE. An Employer shall make Contributions 

or other required payments to the Trust Fund in the amount required by the Trust Agreement, 

applicable collective bargaining agreement, participation agreement or any similar agreement 

acceptable to the Trustees. The rate and amount of Contributions shall at all times be governed 

by said agreements, together with any amendments, supplements, or modifications thereto. 

Nothing in this Plan shall be deemed to change, alter or amend any of the te1ms or provisions of 

any such agreements with respect to such rates or amounts. 

Section 3.02 FAILURE OF EMPLOYER TO CONTRIBUTE. In the event that an 

Employer shall fail to make required Contributions or other payments to the Fund, or in other 

circumstances as set forth in the Trust Agreement, the Trustees may, consistent with the 

provisions of, and in the manner provided by, the Trust Agreement, terminate, on a prospective 

basis, (i) the participation of the Employer in the Plan and Fund, and (ii) the crediting of 

Contributions and/or Pension Credit to Employees of such terminated Employer. 

Section 3.03 EMPLOYEE CONTRIBUTIONS. No contributions shall be made by any 

Employee to the Plan or Trust Fund. 

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ARTICLE4 

VESTING 

Section 4.01 VESTED PERCENTAGE IN REGULAR PENSION BENEFIT. A 

Participant shall be 100% vested in his or her Regular Pension Benefit under the Plan upon 

satisfaction of one of the following requirements: 

(a) the Participant attains Normal Retirement Age; or 

(b) (l)for those Participants who accrued at least 1/4 Year of Vesting Service during 

any calendar year beginning on or after January 1, 1987, the Participant earns five 

Years of Vesting Service, or 

(2) for all other Participants, the Participant earns ten Years of Vesting Service. 

Section 4.02 BREAKS IN SERVICE. Years of Vesting Service earned prior to a period of 

consecutive One-Year Breaks in Service by a Paiticipant with no vested right to a pension 

benefit under the Plan shall not be counted for purposes of calculating the Participant's vested 

percentage if the number of the Participant's consecutive One-Year Breaks in Service equals or 

exceeds the greater of (i) five, or (ii) the aggregate number of the Participant's Years of Vesting 

Service (not including any years previously disregarded under this rule or any rule regarding 

Permanent Breaks-in-Service previously in effect) before such period of consecutive One-Year 

Breaks in Service. This shall be known as a "Permanent Break-in-Service." If a Participant 

incurs a Permanent Break-In-Service, any Contributions received by the Plan on behalf of the 

Participant which are attributable to the period prior to or during such break shall not be used in 

calculating the amount of any benefit to which such Participant may become entitled under the 

Plan after such break, and shall not be paid to the Participant. 

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ARTICLE 5 

PENSION ELIGIBILITY AND AMOUNTS 

Section 5.01 GENERAL. This Article sets for the eligibility conditions and benefit 

amounts for the pension benefits provided by this Plan. The benefit amounts set forth in this 

Article 5 are also subject to adjustment if a 50% Joint and Survivor Annuity or a 75% Joint and 

Survivor Annuity is payable in accordance with the provisions of this Plan. 

Section 5.02 REGULAR PENSION BENEFIT ELIGIBILITY. A Participant shall be 

eligible to receive a Regular Pension Benefit once he or she has (i) attained his or her Normal 

Retirement Age, or (ii) retired from Covered Employment, attained age 55 and is 100% vested in 

his or her Regular Pension Benefit in accordance with Section 4.01(b), provided the Plan 

Administrator receives from the Participant a written application for such a pension benefit 

which is complete in all respects on the form(s) provided by the Plan Administrator for such 

purpose. A Participant's failure to file with the Plan Administrator an application for payment of 

a pension benefit which is complete in all respects shall be deemed to be an election to defer 

payment of such benefit in accordance with the provisions of Section 8.05 (Commencement of 

Pension Benefits Generally). 

Section 5.03 REGULAR PENSION BENEFIT AMOUNT. Except as otherwise provided 

elsewhere in this Section 5.03, in Section 5.06 (Re-determination of Pension Benefits) or in 

Section 5.08 (Maximum Benefits), the amount of an eligible Participant's Regular Pension 

Benefit shall be the Basic Monthly Amount described in subsection (a) below (plus, for 

Participants bom prior to 1921, the amount of the Past-Service Benefit, if any). 

(a) Basic Monthly Amount. The Basic Monthly Amount payable to an eligible 

Participant age 55 or older shall be the sum of the amounts indicated in the 

following table for each $100 of Contributions payable to the Trust Fund on his or 

her behalf for Contributions earned during the applicable year(s) that such 

individual was a Participant, except for those disregarded under the provisions of 

Section 4.02. For purposes of applying this table, total Contributions applicable to 

each time period covered by a separate column of the table shall be rounded 

separately to the nearest $100. 

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BASIC MONTHLY AMOUNT PAYABLE AT AN PENSION EFFECTIVE DATE 

FOR EACH $100 OF CONTRIBUTIONS ATTRIBUTABLE TO 

CONTRIBUTIONS EARNED 

Attained On or after On or after 

Age at On or after On or after 5/1/2009 but 1/1/2010 

Pension 1/1/2004 but 4/1/2007 but before 

Effective Before before before 1/1/2010 

Date 1/1/2004 4/1/2007 5/1/2009 

65 or over $4.65 $3.50 $3.25 $2.00 $1.00 

64 4.16 3.13 2.91 $ 1.79 $0.90 

63 3.75 2.82 2.62 $ 1.61 $0.80 

62 3.36 2.53 2.35 $ 1.45 $0.72 

61 3.04 2.29 2.13 $ 1.31 $0.65 

60 2.75 2.07 1.92 $ 1.18 $0.59 

59 2.48 1.87 1.74 $ 1.07 $0.53 

58 2.26 1.70 1.58 $ 0.97 $0.49 

57 2.05 1.54 1.43 $ 0.88 $0.44 

56 1.86 1.40 1.30 $ 0.80 $0.40 

55 1.70 1.28 1.19 $ 0.73 $0.37 

Notwithstanding the foregoing, the Basic Monthly Amount payable to a 

Participant who is 100% vested in both his or her Retirement Account balance (as 

described in Section 6.01) in accordance with Section 6.03(a) and in his or her Regular 

Pension Benefit in accordance with Section 4.01 shall, except for purposes of calculating 

the value of a Participant's Retirement Account balance (as described in Section 6.01), be 

calculated as the sum of: 

(1) the Basic Monthly Amount indicated in the preceding table for each $100 

of Contributions payable to the Trust Fund on behalf of the Participant, 

except for those credited to the Participant's Retirement Account (in 

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accordance with Section 6.02) and those disregarded under the provisions 

of Section 4.02; and 

(2) a monthly amount attributable to Contributions credited to the 

Participant's Retirement Account (in accordance with Section 6.02), 

computed as the Actuarial Equivalent of the lump•surn value of the 

Participant's Retirement Account balance (as described in Section 6.01). 

(b) Actuarial Adjustment of Deferred Pension Benefit. Notwithstanding the 

provisions of subsection (a) above, if a Participant's Pension Effective Date is 

after the Participant attains Normal Retirement Age, and no Contributions have 

been made to the Trust Fund on behalf of such Participant after Normal Retirement 

Age, the amount of the Participant's monthly pension benefit commencing on the 

Participant's Pension Effective Date shall be the Actuarial Equivalent monthly 

amount of the monthly pension benefit that would have been payable as of the 

Pension Effective Date if the benefit had commenced at Normal Retirement Age. 

All amounts calculated hereunder will be subject to adjustment if the benefit is 

being distributed in the form of a 50% Joint and Survivor Annuity or a 75% Joint 

and Survivor Annuity. 

(c) Calculation of Pension Benefit Commencing Upon Retirement After Normal 

Retirement Age. If a Participant continues in Covered Employment beyond 

Normal Retirement Age and his or her Pension Effective Date is after Normal 

Retirement Age, the Regular Pension Benefit payable to such Participant 

commencing on his or her Pension Effective Date shall be the greater of: 

(1) the amount of Regular Pension Benefit calculated in accordance with 

subsection (a) of this Section taking into account all Contributions 

received through the Pension Effective Date, or 

(2) the Actuarial Equivalent of the Participant's "normal retirement benefit" 

(as described below) which would have been payable the preceding year. 

This calculation shall be performed annually for Plan Years ending after 

the Participant's attainment ofNormal Retirement Age in accordance with section 

1.411 (b )·2(b )( 4 )(iii) of the Treasury Regulations, or any successor provision 

thereto. For purposes of paragraph (2), the Participant's "normal retirement 

benefit" for a particular Plan Year shall be the greater of the amounts determined 

under paragraph (1) or (2) for the preceding Plan Year. 

Section 5.04 DISABILITY PENSION BENEFIT ELIGIBILITY, 

(a) Eligibility Requirements. A Participant shall be eligible to receive a Disability 

Pension Benefit if the Participant ceases all Covered Employment with all 

Contributing Employers on account of Total Disability (as determined in 

accordance with subsection (b) below) prior to commencement of the 

Participant's Regular Pension Benefit, and the Participant has completed 10 Years 

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of Vesting Service; provided, however, that the Plan Administrator receives from 

the Participant a written application for such pension benefit which is complete in 

all respects on the form(s) provided by the Plan Administrator for this purpose. 

(b) Determination of Total Disability. The Administrative Committee shall have 

sole and absolute authority and discretion to determine whether a Participant has a 

condition of Total Disability and a Participant's entitlement to a Disability 

Pension Benefit under this Plan pursuant to any procedures that may be adopted 

by the Administrative Committee or Trustees from time to time. The 

Administrative Committee may, in its discretion, rely on a certification of a 

disability benefit award from the Social Security Administration, or on the 

statements of physicians who shall have examined the Participant. The Plan 

Administrator may anange, at the expense of the Trust Fund, for such medical 

examinations or re-examinations as the Administrative Committee deems 

appropriate to establish a definitive diagnosis, or to establish a Participant's 

eligibility for a Disability Pension Benefit or continued entitlement to a Disability 

Pension Benefit under this Plan. 

( c) Effective Date of Disability Pension Benefit. A Disability Pension Benefit shall 

be payable effective as of the Pension Effective Date of the Disability Pension 

Benefit as determined in accordance with the provisions of Section 8.05(a). 

( d) Continued Entitlement to Disability Pension Benefit. If a Pensioner receiving 

a Disability Pension Benefit who has not attained N01mal Retirement Age shall 

cease to have a condition of Total Disability, as determined by the Administrative 

Committee in its sole and absolute discretion in accordance with the provisions of 

this Section 5.04, payment of his or her Disability Pension Benefit shall cease as 

soon as is administratively practicable and no benefits shall thereafter be paid 

until the Participant either (i) again becomes eligible to receive a Disability 

Pension Benefit due to a new condition of Total Disability, or (ii) becomes 

eligible to receive a Regular Pension Benefit. A Pensioner receiving a Disability 

Pension Benefit who has not attained Normal Retirement Age who resumes 

Covered Employment and earns in excess of $15,000 of Covered Earnings in a 

calendar year (which Earnings are attributable to Covered Employment performed 

during that calendar year) shall be deemed to have ceased his or her condition of 

Total Disability, and payment of his or her Disability Pension Benefit shall cease 

as soon as is administratively practicable. No benefits shall thereafter be paid 

until the Participant either (i) again becomes eligible to receive a Disability 

Pension Benefit due to a new condition of Total Disability, (ii) becomes eligible 

to receive a Regular Pension Benefit, or (iii) provides evidence satisfactory to the 

Administrative Committee, in its sole and absolute discretion, that his or her 

condition of Total Disability has continued. 

Section 5.05 DISABILITY PENSION BENEFIT AMOUNT. The monthly amount of an 

eligible Participant's Disability Pension Benefit shall equal the Actuarial Equivalent 

(detennined ba<1ed on the Participant's actual age as of the Pension Effective Date of his or her 

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Disability Pension Benefit (as determined in accordance with Section 5.04(c) above)) of the 

Regular Pension Benefit monthly amount such Participant would have received if he or she 

were age 65 as of the Pension Effective Date of the Participant's Disability Pension Benefit 

(as determined in accordance with Section 5.04(c) above). 

Section 5.06 REDETERMINATION OF PENSION BENEFITS. If a Participant 

commenced receiving payment of pension benefits under the Plan, and subsequently earns 

additional Contributions, the pension benefits payable will be redetennined subject to the 

provisions of subsections (a), (b), (c) and (d) of this Section. For purposes of this Section, the 

term "Pensioner" shall also refer to a Participant who previously received a lump-sum 

payment of a pension benefit under the Plan and subsequently earns additional 

Contributions. 

(a) Redeterminations With Respect to Contributions Earned Prior to 

January 1, 19 96. If a Pensioner earns Contributions after his or her Pension 

Effective Date, the provisions of this subsection (a) shall apply with respect to 

Contributions earned prior to 1996. The amount of benefits redetermined 

pursuant to this subsection (a) are subject to adjustment where the pension is 

being paid in the form of a 50% Joint and Survivor Annuity or a 75% Joint and 

Survivor Annuity. The redetermination procedures set forth in this subsection (a) 

shall apply only to the Contributions earned by a Pensioner after his or her Pension 

Effective Date and shall not apply to any Contributions taken into consideration at 

the time of the Pensioner's Pension Effective Date. Contributions shall be 

rounded to the nearest $100. The amount of any additional pens ion benefit 

payable based on Contributions earned after a Pensioner's Pension Effective 

Date, as determined in accordance with this subsection, shall be added to the 

Pensioner's monthly pension benefit and commence to be distributed on 1he July 

I following the calendar year it was accrued. The Pensioner shall be entitled to 

an additional Basic Monthly Amount based on (i) the Pensioner's attained age as 

of July 1 of the year following the calendar year in which the Contributions were 

earned, and (ii) the monthly pension factors indicated in the following table: 

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A ITAINED AGE 

55 

MONTI-IL YPENSION SUPPLEMENT 

PER $100 OF CONIRIBUTIONS: 

$.83 

.86 

.87 

.89 

.90 

.92 

.95 

.97 

.99 

56 

57 

58 

59 

60 

61 

62 

63 

64 1.02 

65 or over the Basic Monthly Amount dollar rate set forth 

in Section 5.03(a) for a Participant age 65 or over 

for the calendar year in which the Contributions 

were earned. 

For years preceding attainment of Normal Retirement Age by a Pensioner 

receiving payment of a Regular Pension Benefit, the additional benefit shall not be less 

than the amount determined using the applicable Basic Monthly Amount dollar rate set 

forth in Section 5.03(a) based on the Pensioner's attained age as of July 1 of the year 

following the calendar year in which the Contributions were earned, reduced by the 

Actuarial Equivalent of the pension benefits paid to the Pensioner during that calendar 

year. 

(b) Reretirement of Regular Pension Benefits With Respect to Contributions 

Earned on or After January 1, 1996. The following provisions shall apply with 

respect to any additional pension benefits that may become payable to a Pensioner 

who initially retires and commences receiving payment of a Regular Pension 

Benefit prior to attaining Normal Retirement Age, and then earns additional 

Contributions in any calendar year after his or her initial Pension Effective Date 

and on or after January 1, 1996, but prior to his or her attaining Normal 

Retirement Age, which would otherwise have entitled such Pensioner to a 

redetermined benefit under the provisions of subsection (a) of this Section (for 

purposes of this subsection (b) only, refened to as an "early retirement 

Pensioner"). 

Any additional pension benefit that may become payable to an early retirement 

Pensioner with respect to Contributions earned after his or her initial Pension 

Effective Date and prior to his or her attainment of Normal Retirement Age shall 

commence to be distributed to such early retirement Pensioner on the first day of 

the month following his or her attainment of Normal Retirement Age. Such day 

shall be deemed the Pension Effective Date with respect to the additional monthly 

benefit payable to the early retirement Pensioner with respect to such 

Contributions (for purposes of this Section only, referred to as the "later Pension 

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Effective Date"), and the commencement of this additional pension benefit may 

not be deferred beyond the later Pension Effective Date. 

Subject to adjustment where the early retirement Pensioner's initial pension 

benefit is being paid in the form of a 50% Joint and Survivor Annuity or 75% 

Joint and Survivor Annuity, the amount of the additional monthly pension benefit 

that will become payable to an early retirement Pensioner commencing on the 

later Pension Effective Date shall be the greater of the two amounts computed 

under paragraphs (1) and (2) below. 

(1) The following amount: (i) the monthly benefit computed using the Basic 

Monthly Amount dollar rates set forth in Section 5.03(a) applicable to age 

65 and all Contributions credited on behalf of the early retirement 

Pensioner for all periods of time (including such Contributions which were 

used in calculating his or her original pension benefit), less (ii) the 

monthly Actuarial Equivalent value of the pension benefits actually paid 

to such early retirement Pensioner from his or her initial Pension Effective 

Date up to the end of the month dming which he or she attains Normal 

Retirement Age which are attributable to Contributions credited on behalf 

of the early retirement Pensioner for all such periods of time, minus (iii) 

the amount of the monthly pension benefit that was payable to the early 

retirement Pensioner immediately prior to his or her later Pension 

Effective Date attributable to Contributions credited on behalf of the early 

retirement Pensioner for all such periods of time. This calculation shall be 

performed separately for each period of time set forth as a separate column 

in the chart in Section 5.03(a). 

(2) The sum of the additional monthly benefits that would have become 

payable to the early retirement Pensioner annually up to the end of the 

month during which he or she attains N01mal Retirement Age (or through 

May 31, 2010, if earlier) with respect to Contributions earned from the 

later of January 1, 1996 and his or her initial Pension Effective Date up to 

the end of the month during which he or she attains Normal Retirement 

Age (or through May 31, 2010, if earlier) if those benefits were calculated 

in accordance with the provisions of subsection (a) of this Section, without 

regard to the last paragraph of subsection (a). 

A Participant or former Participant who retires prior to attaining Normal 

Retirement Age and receives a lump-sum payment of his or her pension 

benefit in accordance with the provisions of Section 8.04, and then earns 

additional Covered Earnings, shall be considered an early retirement 

Pensioner for purposes of this subsection (b); provided, however, that with 

respect to such an early retirement Pensioner, the amounts used in the 

calculation of the additional pension benefit payable as of the later 

Pension Effective Date under paragraph ( 1) of this subsection (b ), which 

are based on the monthly value of benefits actually paid to an early 

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retirement Pensioner, shall be computed as the monthly Actuarial 

Equivalent value of the lump-sum payment received by the early 

retirement Pensioner as of his or her initial Pension Effective Date (plus 

subsequent lump-sum payments received by the early retirement Pensioner 

with respect to additional benefits based on Contributions earned prior to 

1996, calculated in accordance with subsection (a) of this Section, if any). 

In the event that an early retirement Pensioner who has earned an 

additional monthly pension benefit described in this subsection (b) dies 

prior to his or her later Pension Effective Date, the provisions concerning 

the amount and distribution of the Pre-retirement Death Benefit shall 

apply with respect to distribution of the death benefit attributable to 

Contributions earned after the Pensioner's initial Pension Effective Date. 

(c) Reretirement and Redetermination of Disability Pension Benefits. The 

following provisions shall apply with respect to any additional pension benefits 

that may become payable to a Pensioner who initially retires and commences 

receiving payment of a Disability Pension Benefit prior to attaining Normal 

Retirement Age, and then earns additional Contributions (for purposes of this 

subsection ( c) only, referred to as an "early disability Pensioner"). 

( 1) The provisions concerning the timing of the payment of an additional 

pension benefit contained in subsection (b) above shall apply. 

(2) Subject to adjustment where the additional pension benefit is to be paid in 

the form of a 50% Joint and Survivor Annuity or a 75% Joint and Survivor 

Annuity, the amount of the additional monthly pension benefit that will 

become payable to an early disability Pensioner as of his or her later 

Pension Effective Date shall be the monthly benefit computed using the 

Basic Monthly Amount dollar rate set forth in Section 5.03(a) applicable 

to age 65 as of the later Pension Effective Date as applied to Contributions 

earned from the initial Pension Effective Date through the end of the 

month during which the Pensioner attains Normal Retirement Age during 

each calendar year in which at least $50 of Contributions were earned. 

(3) Additional benefits payable to an early disability Pensioner with respect to 

Contributions earned after attaining Normal Retirement Age shall be 

calculated in accordance with the provisions of subsection (d) of this 

Section. 

(d) Redetermination of Pension Benefits With Respect to Contributions Earned 

on or After January 1, 1996. The following provisions shall apply with respect 

to any additional pension benefits that may become payable to a Pensioner who 

earns additional Contributions in any calendar year after attaining Normal 

Retirement Age which would otherwise have entitled such Pensioner to a 

redetermined benefit under the provisions of subsection (a) of this Section. 

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The additional benefits that may become payable to a Pensioner based on 

Contributions earned after attainment of Normal Retirement Age shall be 

distributed in accordance with the provisions of subsection (a) of this Section. 

With respect to Contributions earned before January 1, 2004, the amount of the 

additional monthly benefit shall be calculated in accordance with subsection (a) of 

this Section. With respect to Contributions earned on or after January 1, 2004, 

subject to adjustment where the additional pension benefit is to paid in the form of 

a 50% Joint and Survivor Annuity or a 75% Joint and Survivor Annuity, the 

amount of the additional monthly benefit that may become payable to such a 

Pensioner shall be (i) the amount of the additional monthly benefit that would be 

payable under the provisions of subsection (a) with respect to Contributions 

earned during that calendar year ( except that "l/1 /08" shall be substituted for 

"4/1/07" in determining the applicable Basic Monthly Amount dollar rate set forth 

in Section 5.03(a) applicable to such calendar year), minus (ii) the monthly 

Actuarial Equivalent value of the benefits actually paid to such Pensioner during 

that same calendar year (i.e., the calendar year in which the additional 

Contributions were earned) based on Contributions earned on or after January 1, 

2004. 

If a Pensioner initially commences receiving payment of a Regular Pension 

Benefit on or after attaining Normal Retirement Age, and thereafter earns 

additional Contributions, the form of payment of any additional benefits that may 

become payable to such a Pensioner shall be the same as that of the Pensioner's 

initial Regular Pension Benefit. 

If an early retirement Pensioner or early disability Pensioner earns Contributions 

after Normal Retirement Age, the form of payment of any additional benefits 

payable with respect to Contributions earned after attaining Normal Retirement 

Age shall be the same as that elected by the early retirement Pensioner or early 

disability Pensioner as of his or her later Pension Effective Date determined under 

subsection (b) or (c) of this Section, as applicable. If an early retirement 

Pensioner or early disability Pensioner does not have a later Pension Effective 

Date because he or she first earned additional Contributions after attaining 

Nonna) Retirement Age, the first date that additional benefits become payable 

under the provisions of this subsection (d) shall be the Pension Effective Date of 

such additional pension benefit. The form of payment elected at that time shall 

also apply to all subsequent additional pension benefits that become payable to 

him or her thereafter, if any. 

Section 5.07 NON-DUPLICATION OF PENSION BENEFITS. No person shall be 

entitled to receive more than one type of pension benefit under the Plan with respect to a single 

period of Covered Employment. 

Section 5,08 MAXIMUM BENEFITS. (a) Notwithstanding anything herein to the 

contrary, the Plan shall be administered in a manner that will result in its complying with the 

provisions of Code section 415, which are hereby incorporated into the Plan by reference. 

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(b) In addition to other limitations set forth in the Plan and notwithstanding any other 

provisions of the Plan, the accrued benefit of a Participant, including the right to 

any optional benefits provided in the Plan and any benefits distributed under the 

Plan, shall not increase to an amount in excess of the amount permitted under 

Code section 415 at any time. (To the extent that this Plan is required to be 

aggregated with another defined benefit plan sponsored by a single Employer, 

only the benefits under this Plan that are provided by such Employer shall be 

taken into account for purposes of such aggregation.) The cost-of-living 

adjustments in both the dollar limit, and, if applicable, the compensation limit 

provided for in Code section 415( d) are hereby incorporated by reference and 

shall be automatic, including those for Participants who have incurred a severance 

from Covered Employment; provided, however, that (i) the annual benefit payable 

at the initial Pension Effective Date (and including any additional accrual earned 

thereafter), which is otherwise limited by the dollar limitation under Code section 

41 S(b )(1 )(A), shall not be increased under Code section 415( d) after the initial 

Pension Effective Date and (ii) notwithstanding anything herein to the contrary, 

this Section 5.08 shall be applied as if the dollar limitation set forth in Code 

section 415(b)(l)(A) (as adjusted) is no more than $195,000. 

(c) For purposes of this Section, "limitation year" shall mean the calendar year. A 

limitation as adjusted under section 415(d) will apply to limitation years ending 

with or within the calendar year for which the adjustment applies. 

(d) For purposes of applying the limitations of Code section 415, compensation 

(hereinafter "415 Compensation") shall mean the employee's wages within the 

meaning of Code section 340l(a) and all other payment of compensation to an 

Employee by an Employer (in the course of the Employer's trade or business) for 

which the Employer is required to furnish to the Employee a written statement 

under Code sections 604l(d), 6051(a)(3) and 6052. 415 Compensation includes 

amounts that would be included in wages but for an election under Code sections 

125(a), 132(f)(4), 402(e)(3), 402(h)(l)(B), 402(k), or 457(b). 

415 Compensation shall be included in a limitation year only if actually paid or 

made available during such limitation year, but also shall include amounts earned 

but not paid during the limitation year solely because of the timing of pay periods 

and pay dates, provided the amounts are paid during the first few weeks of the 

next limitation year, the amounts are included on a uniform and consistent basis 

with respect to all similarly situated employees, and no compensation is included 

in more than one limitation year. 

415 Compensation for a limitation year shall also include compensation paid no 

later than the later of 2-1/2 months after a Participant's severance from Covered 

Employment or the end of the limitation year that includes the date of the 

Participant's severance from Covered Employment. In such instances, 

compensation shall be included as 415 Compensation only if the payment is 

regular compensation for services during the Participant's regular working hours, 

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or compensation for services outside the Participant's regular working hours ( such 

as overtime or shift differential), commissions, bonuses, or other similar 

payments, and absent a severance from employment, the payments would have 

been paid to the Paiticipant while the Participant continued in Covered 

Employment. In addition, 415 Compensation shall include vacation and sick 

leave payouts that are paid no later than the later of 2-1/2 months after a 

Participant's severance from Covered Employment or the end of the limitation 

year that includes the date of the Participant's severance from Covered 

Employment. Notwithstanding the foregoing, the provisions of this paragraph 

shall not apply to payments to an individual who does not currently perform 

services in Covered Employment by reason of qualified military service (as 

defined in Code section 414(u)) to the extent those payments do not exceed the 

ainount the individual would have received had he or she continued in Covered 

Employment rather than entering military service. 

(e)(l) Notwithstanding the foregoing, any higher limits, or any lower limits, provided 

for in this Section 5.08 as in effect prior to January 1, 2008 are hereby 

grandfathered to the extent permitted by applicable law. With respect to benefits 

accrued prior to January 1, 2008, the maximum benefit limits of Code Section 415 

and this Section 5.08 shall be applied separately to each Contributing Employer. 

For limitation years beginning on or after January 1, 2008, a Participant's 

maximum benefit under Code Section 415 and this Section 5.08 shall not be less 

than such Participant's maximum benefit as of December 31, 2007. 

(2) For purposes of applying the limitations of Code Sections 41 S(b) and 415( e ), for 

an individual who was a Participant as of the first day of the first limitation year 

beginning after December 31, 1986 in a defined benefit plan which was in 

existence on May 6, 1986, and whose accrued benefit, as of the close of the 1986 

limitation year, exceeds the dollar limitation of Code section 415(b), as amended 

by the Tax Reform Act of 1986, then the Participant's applicable dollar limitation 

is the Participant's accrued benefit as of the close of the last limitation year 

beginning prior to December 31, 1986 ( determined as if the individual separated 

from service as of the end of that year and without regard to any changes in the 

terms of the Plan or cost of living increases occurring after May 6, 1986). 

(3) The accrued benefit of any Participant which exceeds the benefit limitations under 

Code Section 415, as amended by Tax Reform Act of 1986 (including the 

protected cunent accrued benefit described in Q&A 12 of Notice 87-21), is 

reduced as of the first day of the first limitation year beginning after December 

31, 1986, to the level permitted under Tax Reform Act of 1986. 

Section 5.09 TOP HEAVY DETERMINATION. 

(a) Definitions. Wherever used in this Section 5.09, the following words and 

phrases shall have the following meanings: 

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AFMEPF0463 www.afm-epf.org 03-04-2015

(1) Aggregated Plans: All plans of a Contributing Employer satisfying the 

requirements of Code section 40l(a)(i) which are required to be 

aggregated with the Plan pursuant to Code section 416(g)(2)(A)(i), 

including each plan which must be considered with such plan in order for 

such plan to meet the requirements of Code section 401 (a)( 4) or Code 

section 410, and (ii) which the Trustees elect to aggregate with the Plan 

pursuant to Code section 416(g)(2)(A)(ii), including any other plan as 

elected by the Trustees that satisfies the requirements of Code sections 

401 (a)(4) and 410 when considered together with the plans required to be 

aggregated as described above. A terminated or frozen plan shall be 

treated as an Aggregated Plan only in accordance with Treasury 

Department regulations. 

(2) Average Pay: The compensation of a Participant averaged over the 5 

consecutive Plan Years which produces the highest average prior to such 

Participant's retirement, death or other termination of employment. The 

term "compensation" as used in this Section 5.09 shall mean the 

Employee's compensation on his Form W-2 for the calendar year that 

ends with or within the applicable Plan Year and shall include amounts 

excluded from taxable income under Code section 125, 402(g)(3), 457, 

and 132(f)(4). For purposes hereof, the term "compensation" shall not 

include such compensation after the last Plan Year in which a Plan is a 

Top-Heavy Plan. 

(3) Determination Date: The date as of which it is determined if a plan is to 

be a Top-Heavy Plan for a Plan Year. The Determination Date with 

respect to a plan shall be the last day of the immediately preceding plan 

year or, in the case of a new plan for the first plan year, the last day of 

such plan year. 

(4) Key Employee: Any individual (and the beneficiary of such individual) 

described in Code section 416(i)(l) and the Treasury Regulations 

thereunder. 

( 5) Present Benefit Value -

(A) With respect to a defined benefit plan which is included in the 

Aggregated Plans, the sum of the present values of a Participant's 

accrned benefits under such plans. The accrued benefit of an 

Employee other than a Key Employee shall be determined under 

(l) the method, if any, that unifonnly applies for accrual purposes 

under all plans maintained by a Contributing Employer, or (2) if 

there is no such method, as if such benefit accrued not more 

rapidly than the slowest accrual rate permitted under the fractional 

accrual rate of Code section 41 l(b)(l)(C). Except as provided in 

the applicable Treasury Regulations, such accrued benefits shall be 

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AFMEPF0464 www.afm-epf.org 03-04-2015

determined as if the Participant had voluntarily terminated 

employment on the valuation date which is or would be used for 

computing plan costs for minimum funding purposes pursuant to 

Code section 412 and which is within the 12-month period ending 

on the Determination Date. Such present value shall be determined 

on the basis of the actuarial assumptions in effect under such 

defined benefit plan and may include cost of living increases (to 

the maximum benefit then permitted pursuant to Code section 

415). Non-proportional subsidies may be taken into consideration 

in accordance with Treasury Regulations. 

(B) With respect to a defined contribution plan which is included in the 

Aggregated Plans, the sum of a Participant's account balances 

attributable to employer and employee contributions under such 

plans as of the most recent valuation date under the plan ending 

within the 12-month period ending on the applicable 

Determination Date and shall be adjusted for contributions due as 

of such Determination Date. lf a plan is not subject to the funding 

requirements of Code section 412, the adjustment is the amount of 

contributions actually made after the valuation date and on or 

before the Determination Date and, in the first plan year of any 

plan, also shall include contributions al located as of a date in such 

plan year but made after the Determination Date. If a plan is 

subject to the funding requirements of Code section 412, a 

Participant's account balance shall include contributions not yet 

required to be contributed, but which would be allocated as of a 

date not later than the Determination Date, and the adjustment 

shall reflect any contributions made or due after the valuation date 

but prior to the expiration of the extended payment period of Code 

section 412( c )(10). 

(C) Present Benefit Value shall also include any related rollovers and 

transfers. A determination as to whether a rollover or transfer is 

related or unrelated shall be made in accordance with applicable 

Treasury Regulations. 

(D) Present Benefit Value shall also include, to the extent not 

otherwise included, any amounts distributed to the Participant or 

the Participant's beneficiary during the Plan Year under the Plan or 

any Aggregated Plan, during the 1-year period ending on the 

Determination Date. The preceding sentence shall also apply to 

distributions under a terminated plan which, had it not been 

terminated, would have been aggregated with the Plan under Code 

section 416(g)(2)(A)(i). In the case of a distribution made for a 

reason other than severance from employment, death, or disability, 

this provision shall be applied by substituting "5-year period" for 

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(6) 

(7) 

"1-year period." Present Benefit Value shall not include the present 

value of any accrued benefit under a defined benefit plan or the 

account balance under a defined contribution plan with respect to a 

Participant who has not performed services for an employer 

maintaining the plan at any time during the 1-year period ending 

on the applicable Determination Date or with respect to a 

Participant who is not a Key Employee for a Plan Year, although 

such person was a Key Employee in a prior Plan Year. 

Top-Heavy Plan: Aggregated Plans in which more than 60% of the sum of 

all Present Benefit Values is attributable to Key Employees, as determined 

as of the applicable Determination Date. For this purpose, plans will be 

aggregated with reference to the Determination Date which occurs within 

the same calendar year. 

Year ofTo_p-Heavy Service: Each Year of Service which commences in a 

Plan Year m which the Plan is a Top-Heavy Plan. 

(b) Minimum Benefit. 

(1) For any Plan Year in which the Plan is a Top-Heavy Plan, the Accrued 

Benefit for a Participant who is not a Key Employee shall not be less than 

the Participant's Average Pay multiplied by the lesser of (i) 2% multiplied 

by the Participant's Years of Top-Heavy Service or (ii) 20%. 

(2) If a Participant is also a participant in any other defined benefit plan of a 

Contributing Employer, the minimum benefit set forth in (1) above shall 

be reduced by any benefits provided from such other plan with respect to 

any of the Participant's Years ofTop-Heavy Service. 

(3) If a Participant is also a participant in any defined contribution plan of a 

Contributing Employer, the minimwn benefit set forth in (1) above shall be 

reduced to the extent permitted by Code section 416 ( or any regulations 

issued thereunder) with respect to any benefits provided under such plans. 

(4) The minimum benefit set forth in (1) above, shall be payable as a life 

annuity (with no ancillary benefits) commencing at the Participant's 

Normal Retirement Age. Any benefit which is payable as other than a life 

annuity, or which commences at other than the Participant's Normal 

Retirement Age shall be adjusted to an amowit which is actuarially 

equivalent to such benefit. For pUlJloses hereof, such actuarially 

equivalent determination shall be based on such actuarial assumptions set 

forth in Appendix A. 

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(c) Minimum Vesting. If the Plan is a Top-Heavy Plan, each Participant shall be 

fully vested after having completed three Years of Vesting Service. If the Plan 

ceases to be a Top-Heavy Plan for any fixture year, the minimum vesting schedule 

shall not be applicable with respect to any such future Plan Year; provided, 

however, that such minimwn vesting schedule shall continue to apply with 

respect to the Accrued Benefit of any Participant who had completed 3 or more 

Years of Service as of the first day of the Plan Year as of which the Plan 

ceases to be a Top-Heavy Plan. 

(d) Amendment Not Required. The foregoing provisions of this Section 5.11 are 

intended to conform the Plan to the requirements of Code section 416 and any 

regulations, rulings or other pronmmcements issued pursuant thereto, and shall be 

construed accordingly. In tbe event that under any statute, regulation or ruling all 

or a portion of the conditions of this Section are no longer required for the Plan to 

comply with the requirements of Code section 401 ( or any other provisions with 

respect to qualification for tax exemption of retirement plans and trusts), to the 

extent possible such conditions shall become void and shall no longer apply 

without the necessity of an amendment to the Plan. 

(e) Non-applicability to Collectively Bargained Groups. The provisions of this 

Section 5 .09 do not apply with respect to any Employee included in a unit of 

employees covered by a collective bargaining agreement. 

(f) Minimum Benefits. For purposes of satisfymg the minimum benefit requirements of 

Code section 416( c XI) and the Plan, in determining years of service with an 

Employer, any service with an Employer shall be disregarded to the extent that such 

service occurs during a Plan Year when the Plan benefits (within the meaning of 

Code section 41 O(b)) no Key Employee or former Key Employee. 

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ARTICLE 6 

RETIREMENT ACCOUNT BENEFITS 

Section 6.01 RETIREMENT ACCOUNT BALANCE.The balance of a Participant's 

Retirement Account shall be the amount of Contributions credited to such Participant's 

Retirement Account through December 31, 1967 in accordance with the terms of the Plan then in 

effect as described in Section 6.02, plus interest thereon compounded annually at the rate of 5% 

per annum. Such interest shall be credited at the end of each calendar year until the end of the 

calendar year immediately preceding the date of payment; provided, however, that with respect 

to a Retirement Account balance death benefit, interest shall be credited only until the end of the 

calendar year immediately preceding the date of the Participant's death. Notwithstanding the 

foregoing, in no event will a Participant's Retirement Account balance as of the date of 

distribution ( or, if earlier, the Participant's date of death) be less than the Actuarial Equivalent 

lump-sum value of the Regular Pension Benefit calculated with respect to Contributions credited 

to such Participant's Retirement Account (in accordance with Section 6.02) and the Basic 

Monthly Amount dollar rates in effect for benefits with an Pension Effective Date of December 

1,2003. 

Section 6.02 CREDITS TO RETIREMENT ACCOUNT. 

(a) A Participant is credited in his or her Retirement Account with the Contributions 

paid to the Trust Fund on his or her behalf prior to January 1, 1968 (including any 

Contributions credited prior to the Participant's satisfaction of the general Plan 

participation requirements set forth in Section 2.01) if his or her Covered 

Earnings amounted to an aggregate of $1,500 during any five consecutive 

calendar year period prior to January 1, 1968. Contributions for Covered 

Earnings prior to the first such five-year period are not credited to the Retirement 

Account. 

(b) If a Paiticipant has had Covered Earnings on which Contributions were due but 

not paid, he or she shall not receive credit for such unpaid amounts in his or her 

Retirement Account, but shall, subject to such nondiscriminatory rules and 

limitations as the Trustees may establish, be credited with such Covered Earnings 

for an appropriate calendar year for the sole purpose of meeting the $1,500 

requirement of subsection (a) of this Section. This Section shall only apply to 

Contributions that were due to the Fund prior to January 1, 1968. 

Section 6.03 ELIGIBILITY FOR RETIREMENT ACCOUNT BENEFIT. 

(a) Any Participant who had an aggregate of$1,500 or more of Covered Earnings 

during any five consecutive calendar year period prior to January 1, 1968, shall be 

100% vested in his or her Retirement Account balance. 

(b) With respect to a Participant who is 100% vested in his or her Retirement 

Account balance in accordance wi.th subsection (a) of this Section, and who 

satisfies the eligibility requirements for a Regular Pension Benefit or a Disability 

32 
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Pension Benefit described in Article 5, the Participant's Regular Pension Benefit, 

Disability Pension Benefit or death benefit under the provisions of Article 5 or 7, 

as applicable, shall be calculated based on the Contributions made on behalf of 

the Participant which are credited to the Participant's Retirement Account (in 

accordance with Section 6.02), as well as the Contributions which are not credited 

to his or her Retirement Account, in the manner provided in Section 5.03(a)(2). 

( c) With respect to a Paiticipant who is 100% vested in his or her Retirement 

Account balance in accordance with subsection (a) of this Section, and who does 

not satisfy the eligibility requirements for a Regular Pension Benefit or Disability 

Pension Benefit, the following provisions shall apply: 

(1) The Participant shall be eligible to receive distribution of his or her 

Retirement Account balance once he or she has (i) attained his or her 

Normal Retirement Age, or (ii) retired and attained age 55, provided the 

Plan Administrator receives from the Participant a written application for 

such a benefit which is complete in all respects on the fonn(s) provided by 

the Plan Administrator for such purpose. Notwithstanding the preceding 

sentence, no Retirement Account benefit shall be paid to a Participant who 

received a lump-sum disability award under the provisions of the Plan in 

effect prior to January 1, 2004. The provisions concerning the distribution 

of benefits set forth in Article 8 shall apply with respect to the distribution 

of the Retirement Account balance, except that the monthly benefit 

payable to a Participant with respect to the Retirement Account balance 

shall be computed as the Actuarial Equivalent of the lump-sum value of 

the Participant's Retirement Account balance (as described in Section 

6.01). 

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ARTICLE7 

PAYMENTS ON DEATH 

Section 7.01 PRE-RETIREMENT DEA TH BENEFIT FOR VESTED 

PARTICIPANTS. 

(a) Eligibility for Benefit. A Participant's Beneficiary shall be eligible to receive the 

Pre-retirement Death Benefit described in this Section if the Participant dies after 

he or she is vested in a Regular Pension Benefit in accordance with Section 4.01, 

but prior to his or her Pension Effective Date for a Regular Pension Benefit or a 

Disability Pension Benefit, subject to the provisions of Section 7.03. No Preretirement Death Benefit is payable if the Participant dies without having 

designated a primary or alternate Beneficiary, if there is no designated primary or 

alternate Beneficiary living on the date of the Participant's death, or if the 

Beneficiary dies prior to the commencement of payment of the Pre-retirement 

Death Benefit. 

(b) Form and Amount of Benefit. The Pre-retirement Death Benefit shall, subject 

to the provisions of Section 8.04, be an annuity for the life of the Beneficiary 

which is equivalent (as described in the following paragraph) to the benefit that 

would have been paid to the Beneficiary if the Participant had retired from 

Covered Employment immediately prior to his or her death (if he or she had not 

already retired from Covered Employment), commenced a 50% Joint and 

Survivor Annuity with the Beneficiary as the Joint Annuitant on the later of 

(A) the first day of the month following the date the Participant would have 

attained his or her earliest retirement age under the Plan had the Participant lived 

until such date and (B) the first day of the month following the Participant's date 

of death, and died the next day. 

In the case of a Pre-retirement Death Benefit commencing before the date the 

Participant would have attained his or her earliest retirement age under the Plan, 

the death benefit described in the preceding paragraph shall be reduced to an 

Actuarial Equivalent based on the attained age (rounded down to the nearest year) 

that the Participant would have reached as of the date benefits commence. In the 

case of a Pre-retirement Death Benefit commencing after the later of the dates set 

forth in (A) and (B) of the preceding paragraph, the death benefit described in the 

preceding paragraph shall be increased to an Actuarial Equivalent based on the 

attained age (rounded down to the nearest year) that the Participant would have 

reached as of the date benefits commence. Notwithstanding the foregoing, in the 

event that a Pre-retirement Death Benefit commences to be paid under Section 

7.03 within six months of the first day of the month following the death of the 

Participant, it shall be treated as though it commenced on the first day of the 

month following the death of the Participant, in which case (A) a lump sum 

payment (without interest) shall be paid to reflect the payments that would have 

been made between the first of the month following the death of the Participant 

and actual date of commencement and (B) the actuarial adjustment described in 

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this paragraph shall be calculated with reference to the first of the month 

following the death of the Participant, rather than the date benefits commenced. 

(c) Commencement of Benefit to Beneficiaries Other Than Spouses. Subject 

to the provisions of Section 7 .03, payment to a Beneficiruy who is not a Spouse 

shall commence as soon as administratively practicable following the death 

of the Participant. 

(d) Commencement of Benefit to Spouses. If the Participant has a Spouse at 

the time of death, the Participant's Spouse shall be the Beneficiary of the Preretirement Death Benefit. If the Participant dies prior to attaining Normal 

Retirement Age, distribution of the Pre-retirement Death Benefit to the 

Participant's Spouse shall, subject to the provisions of Section 7.03, commence 

on the first day of the month immediately following the date the Participant would 

have attained Normal Retirement Age unless the surviving Spouse files a written 

election, on the form(s) provided by the Plan Administrator for such putpose, to 

commence distribution earlier. 

Section 7.02 RETIREMENT ACCOUNT DEATH BENEFIT. With respect to a 

Participant who is 1 00% vested in his or her Retirement Account balance in accordance with 

Section 6.03(a), and who dies (i) prior to being vested in a Regular Pension Benefit in 

accordance with Section 4.01, and (ii) prior to the distribution of his or her Retirement Account 

balance, such Participant's Beneficiary shall be eligible to receive distribution of the 

Participant's Retirement Acconnt balance payable in accordance with Section 7.01. 

Section 7.03 APPLICATION AND ELIGIBILITY FOR A DEATH BENEFIT. A 

Participant's Beneficiary shall be eligible to receive the death benefit described in Section 7 .01 

or Section 7.02, as applicable, if the eligibility requirements set forth in that Section are satisfied, 

provided the Plan Administrator receives from the Beneficiary a written application for such a 

death benefit which is complete in all respects on the form(s) and at such time(s) as are provided 

by the Plan Administrator for such purpose. Except as explicitly provided in Section 7.0l(b), no 

interest on, or adjustment to, the amount of the applicable death benefit shall be due or owing the 

Beneficiary with respect to the period of time between the Participant's death and the 

commencement of the death benefit following the Plan Administrator's receipt of the complete 

application from the Beneficiary. 

Section 7.04 ADDITIONAL DEATH BENEFIT RULES. 

(a) Notwithstanding any other provision of this Article 7, if a Participant dies while 

performing qualified military service (as defined in Code section 414(u)) on or 

after January 1, 2007, the Participant's Beneficiary shall be entitled to any 

additional benefits ( other than benefit accruals relating to the period of qualified 

military service) provided under the Plan had the Participant resumed Covered 

Employment and then terminated Covered Employment on account of death. 

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(b) Notwithstanding any other provision of the Plan, all death benefits shall be based 

solely on Contributions received before (i) in the case of additional Contributions 

described in Section 5.06, and the Participant dies on or after July 1, the calendar 

year in which the Participant dies if the Participant dies on or after July 1, (ii) in 

the case of additional Contributions described in Section 5.06, the calendar year 

preceding the year in which the Participant dies if the Participant dies before July 

1, or (iii) in all other cases, the date of the Participant's death. 

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ARTICLES 

METHOD AND TIMING OF DISTRIBUTION OF BENEFITS 

Section 8.01 NORMAL FORM OF DISTRIBUTION OF PENSION BENEFITS. The 

normal form of payment of the Participant's Regular Pension Benefit, Disability Pension Benefit, 

Retirement Account Benefit or Re-Retirement Benefit, as applicable, shall (subject to the 

provisions of Section 8.04) be: 

(a) If a Participant has a Spouse as of his or her Pension Effective Date, a 50% Joint 

and Survivor Annuity with the Participant's Spouse as the Participant's Joint 

Annuitant. 

(b) If the Participant does not have a Spouse as of his or her Pension Effective Date, a 

Single Life Annuity. 

Section 8.02 QUALIFIED ELECTION; OPTIONAL FORMS OF PAYMENT. 

(a) Subject to the provisions of Section 8.04, in lieu ofreceiving a pension benefit in 

the normal form of payment provided in Section 8.0l(a), a Participant who has a 

Spouse as of his or her Pension Effective Date may make a Qualified Election (or 

other election, in the case of the form of payment described in subsection (a)(4) 

below) at any time during the 180 day period immediately preceding his or her 

Pension Effective Date, to receive payment of his or her pension benefit in one of 

the following optional fmms: 

(1) a 50% Joint and Survivor Annuity with a Joint Annuitant other than the 

Participant's Spouse; 

(2) a 75% Joint and Survivor Annuity with a Joint Annuitant other than the 

Participant's Spouse; 

(3) a Single Life Annuity; or 

( 4) a 75% Joint and Survivor Annuity with the Spouse as the Joint Annuitant, 

in which case a Qualified Election shall not be required and the Participant 

may make the election without consent of his or her Spouse on the form(s) 

provided by the Plan Administrator for such purpose. 

(b) Subject to the provisions of Section 8.04, in lieu of receiving a pension benefit in 

the normal form of payment provided in Section 8.0l(b), a Participant who does 

not have a Spouse as of his or her Pension Effective Date may, within 180 days 

prior to his or her Pension Effective Date, elect in writing on the fonn(s) provided 

by the Plan Administrator for such purpose, to waive the normal form of payment 

described in Section 8.01 (b) and, in lieu thereof, receive payment of his or her 

pension benefit in one of the following optional forms: 

(1) a 50% Joint and Survivor Annuity; or 

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(2) a 75% Joint and Survivor Annuity. 

(c) A Participant who makes a Qualified Election or a written election under the 

provisions of subsection (a) or (b) of this Section, as applicable, may revoke his or 

her Qualified Election, or written election, as applicable, with the consent of the 

Spouse in the case of a Qualified Election, at any time prior to his or her Pension 

Effective Date. The number of revocations shall not be limited. Any consent by 

a Spouse to a Participant's Qualified Election to waive the 50% Joint and 

Survivor Annuity may not be revoked and shall be effective only with respect to 

such spouse. 

Section 8.03 NOTICE OF NORMAL FORM OF PAYMENT TO PARTICIPANTS. 

No less than 30 days, and no more than 180 days, prior to a Participant's Pension Effective Date, 

the Plan Administrator shall furnish the Participant, by mail or personal delivery, a written 

explanation of (i) the terms and conditions of the normal form of payment applicable to the 

Participant and, with respect to a Participant with an Spouse, the 75% Joint and Survivor 

Annuity with such Spouse as the Joint Annuitant, as applicable, (ii) the availability of a Qualified 

Election or a written election to waive the normal form of payment described in Section 8.0l(a) 

or (b), as applicable, (iii) the right of the Participant's Spouse to consent to, or withhold consent 

from, a Qualified Election, if applicable, (iv) the general financial effect of an election not to 

receive the applicable normal form of payment, and (v) the eligibility conditions, other material 

features and relative values of the optional forms of benefit available. Notwithstanding the 

preceding sentence, distribution may commence fewer than 30 days (but no fewer than seven 

days) after the written explanation is given, provided that (i) the Plan Administrator clearly 

informs the Participant that the Participant has a right to a period of at least 30 days to consider 

whether to waive the normal form of payment and elect an optional form of payment, and (ii) the 

Participant, after receiving the explanation, affirmatively elects to receive a distribution sooner 

(with consent of the Participant's Spouse, if applicable) on the form(s) provided by the Plan 

Administrator for such purpose. 

Section 8.04 LUMP-SUM CASH-OUT OF SMALL BENEFITS. Notwithstanding 

anything contained herein to the contrary, if the Actuarial Equivalent present value of a 

Participant's entire benefit payable under the Plan does not (and at the time of any prior 

distribution in the form of a monthly annuity did not) exceed $5,000 at the time that the 

Participant satisfies the eligibility requirements for payment of a Regular Pension Benefit, 

Disability Pension Benefit, Retirement Account benefit, Re-Retirement Benefit or Pre-retirement 

Death Benefit, as applicable, the Participant's benefit shall be payable only in the form of a 

single lump sum payment and any such distribution to the Participant or the Participant's 

surviving Spouse or other Beneficiary, as the case may be, shall not require the consent of the 

Participant or Spouse or other Beneficiary and shall be in complete discharge of the Plan's 

obligation with respect to such benefit. Notwithstanding the foregoing, effective March 28, 

2005, the lump sum distribution described in the previous sentence wi.11 not be paid until such 

time as the Participant applies for a distribution on the form(s) provided by the Plan 

Administrator for such purpose. 

Section 8.05 COMMENCEMENT OF PENSION BENEFITS GENERALLY. 

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(a) Pension Effective Date. After a Participant fulfills the applicable eligibility 

requirements, payment of a Regular Pension Benefit, Disability Pension Benefit, 

or Retirement Account Benefit, as applicable, shall be effective as of the 

following date (the "Pension Effective Date"): (i) the first day of the calendar 

month immediately following receipt by the Plan Administrator from the 

Participant of an application for pension benefits which is complete in all respects 

on the forms provided by the Plan Administrator for such purpose (including all 

necessary election and consent forms) or (ii) the first day of the second calendar 

month following receipt by the Plan Administrator from the Participant of an 

application for pension benefits which is complete in all respects on the forms 

provided by the Plan Administrator for such purpose (including all necessary 

election and consent forms) if such receipt occurs after the fifteenth day of a 

calendar month. Payment will be made or commence on the Pension Effective 

Date or, if the completed application is received by the Fund Office after the 

monthly payment processing cut-off date, the first day of the following calendar 

month next following the Pension Effective Date. 

If the Actuarial Equivalent lump-sum value of a Participant's benefit exceeds (or 

at the time of any prior distribution of a monthly annuity exceeded) $5,000 and it 

is distributable prior to the Participant's Normal Retirement Age, the Participant 

and the Participant's Spouse or other Beneficiary must consent to any distribution 

of such pension benefit in writing within the l 80~day period ending on the 

Pension Effective Date. Notwithstanding the foregoing, only the Participant need 

consent to the commencement of a 50% Joint and Survivor Annuity or a 75% 

Joint and Survivor Annuity with the Participant's Spouse as the Joint Annuitant 

that is distributable prior to the Participant's Normal Retirement Age. The 

consent of neither the Participant nor the Participant's Spouse shall be required to 

the extent that a distribution is required to satisfy Section 40 l(a)(9) or Code 

section 415. 

(b) Unless a Participant elects to defer the commencement of his or her Regular 

Pension Benefit or Retirement Account Benefit, the payment of the Participant's 

Regular Pension Benefit or Retirement Account Benefit shall commence not later 

than the sixtieth (60th) day after the close of the Plan Year in which occurs the 

latest of (i) the date on which the Participant attains age 65, (ii) the date the 

Participant terminates his service with the Employer, or (iii) the tenth anniversary 

of the year in which the Participant commenced participation in the Plan. 

Notwithstanding the foregoing, (i) the failure of a Participant and the Participant's 

spouse to consent to a distribution prior to the Participant's Normal Retirement 

Age, or (ii) the failure of a Participant to file a written application for payment of 

a Regular Pension Benefit or Retirement Account Benefit shall be deemed to be 

an election to defer commencement of such Regular Pension Benefit or 

Retirement Account Benefit, provided, however, that the defe1Ted commencement 

date of a Participant's pension benefit may not be later than the Participant's 

Required Beginning Date described in Section 8.06. 

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Section 8.06 

(b) 

TIMING AND DISTRIBUTION OF BENEFITS. 

(a) General Rules. 

The provisions of this Section 8.06 will apply for purposes of 

dete1mining required minimum distributions for calendar years beginning with 

the 2003 calendar year, and will take precedence over any inconsistent 

provisions of the Plan. All distributions required under this Section 8.06 will 

be determined and made in accordance with Code section 401(a)(9), including 

the incidental death benefit requirements of Code section 401(a)(9)(G), and 

Treasury Regulation Sections l.401(a)(9)-2 through l.401(a)(9)-9. 

Notwithstanding the other provisions of this Section 8.06, distributions may be 

made under a designation made before January 1, 1984, in accordance with 

Section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) 

and the provisions of the Plan that relate to Section 242(6)(2) ofTEFRA. 

Time and Manner of Distribution. 

(1) The Participant's entire interest will be distributed, or begin to be 

distributed, to the Participant no later than the Participant's 

required beginning date. 

(2) If the Participant dies before distributions begin, the Participant's 

entire interest will be distributed, or begin to be distributed, no 

later than as follows: 

(A) If the Participant's Spouse is the Participant's sole 

designated Beneficiary, then distributions to the Spouse 

will begin by December 31 of the calendar year 

immediately following the calendar year in which the 

Participant died, or by December 31 of the calendar year in 

which the Participant would have attained age 701⁄2, iflater. 

(B) If the Participant's Spouse is not the Participant's sole 

designated Beneficiary, then distributions to the designated 

Beneficiary will begin by December 31 of the calendar year 

immediately following the calendar year in which the 

Participant died. 

(C) If there is no designated Beneficiary as of September 30 of 

the year following the year of the Participant's death, the 

Participant's entire interest will be distributed by December 

31 of the calendar year containing the fifth anniversary of 

the Participant's death. 

(D) If the Participant's Spouse is the Participant's sole 

designated Beneficiary and the Spouse dies after the 

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Participant but before distributions to the Spouse begin, this 

Section 8.06(b )(2), other than Section 8.02(b )(2)(A), will 

apply as if the Spouse were the Participant. 

For purposes of this Section 8.06(b)(2) and Section 8.06(e), distributions 

are considered to begin on the Participant's required beginning date ( or, if Section 

8.06(b )(2)(D) applies, the date distributions are required to begin to the Spouse 

under Section 8 .06(b )(2)(A). If annuity payments irrevocably commence to the 

Participant before the Participant's required beginning date ( or to the Participant's 

Spouse before the date distributions are required to begin to the Spouse under 

Section 8.06(b)(2)(A), the date distributions are considered to begin is the date 

distributions actually commence. 

(3) Unless the Participant's interest is distributed in the form of an 

annuity purchased from an insurance company or in a single sum 

on or before the required beginning date, as of the first distribution 

calendar year distributions will be made in accordance with 

Sections 8.06(c), (d) or (e) hereof. If the Participant's interest is 

distributed in the form of an annuity purchased from an insurance 

company, distributions thereunder will be made in accordance with 

the requirements of Section 401 (a)(9) of the Code and the Treasury 

Regulations. Any part of the Participant's interest which is in the 

form of an individual account described in Code section 414(k) 

will be distributed in a manner satisfying the requirements of Code 

section 401(a)(9) and the Treasury Regulations that apply to 

individual accounts. 

( c) Determination of Amount to be Distributed Each Year. 

(1) If the Participant's interest is paid in the form of annuity 

distributions under the Plan, payments under the annuity will 

satisfy the following requirements: 

(A) the annuity distributions will be paid in periodic payments 

made at intervals not longer than one year; 

(B) the distribution period will be over a life (or lives) or over a 

period certain not longer than the period described in 

Sections 8.07(d) or (e); 

(C) once payments have begun over a period certain, the period 

certain will not be changed even if the period certain is 

shorter than the maximum permitted; 

(D) payments will either be nonincreasing or increase only as 

follows: 

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AFMEPF0477 www.afm-epf.org 03-04-2015

(i) by an annual percentage increase that does not 

exceed the annual percentage increase in a cost-of--

living index that is based on prices of all items and 

issued by the Bureau of Labor Statistics in 

accordance with Q&A 14 of section l.401(a)(9)-6 

of the Treasury Regulations; 

(ii) to the extent of the reduction in the amount of the 

Participant's payments to provide for a survivor 

benefit upon death, but only if the Beneficiary 

whose life was being used to determine the 

distribution period described in Section 8.06 dies or 

is no longer the Participant's Beneficiary pursuant to 

a qualified domestic relations order within the 

meaning of Code section 4 l 4(p ); 

(iii) to allow a beneficiary to convert the survivor 

portion of a joint and survivor annuity into a single 

sum distribution upon the employee's death; or 

(iv) to pay increased benefits that result from a Plan 

amendment. 

(2) The amount that must be distributed on or before the Participant's 

required beginning date (or, if the Participant dies before 

distributions begin, the date distributions are required to begin 

under Section 7.01) is the payment that is required for one payment 

interval. The second payment need not be made until the end of the 

next payment interval even if that payment interval ends in the 

next calendar year. Payment intervals are the periods for which 

payments are received, e.g., bi-monthly, monthly, semi-annually, 

or annually. All of the Participant's benefit accruals as of the last 

day of the first distribution calendar year will be included in the 

calculation of the amount of the annuity payments for payment 

intervals ending on or after the Participant's required beginning 

date. 

(3) Any additional benefits accruing to the Participant in a calendar 

year after the first distribution calendar year will be distributed 

beginning with the first payment interval ending in the calendar 

year immediately following the calendar year in which such 

amount accrues. 

(d) Requirements For Annuity Distributions That Commence During 

Participant's Lifetime. 

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( 1) If the Participant's interest is being distributed in the form of a joint 

and survivor annuity for the joint lives of the Participant and a 

nonspouse Beneficiary, annuity payments to be made on or after 

the Participant's required beginning date to the designated 

Beneficiary after the Participant's death must not at any time 

exceed the applicable percentage of the annuity payment for such 

period that would have been payable to the Participant using the 

table set forth in Q&A-2 of section l.40l(a)(9)-6(c)(2) of the 

Treasury Regulations. If the form of distribution combines a joint 

and survivor annuity for the joint lives of the Participant and a 

nonspouse Beneficiary and a period certain annuity, the 

requirement in the preceding sentence will apply to annuity 

payments to be made to the designated Beneficiary after the 

expiration of the period certain. 

(2) Unless the Participant's Spouse is the sole designated Beneficiary 

and the form of distribution is a period certain and no life annuity, 

the period certain for an annuity distribution commencing during 

the Participant's lifetime may not exceed the applicable distribution 

period for the Participant under the Uniform Lifetime Table set 

forth in section 1.401 ( a)(9)-9 of the Treasury Regulations for the 

calendar year that contains the Pension Effective Date. If the 

Pension Effective Date precedes the year in which the Participant 

reaches age 70, the applicable distribution period for the 

Participant is the distribution period for age 70 under the Uniform 

Lifetime Table set forth in section 1.401 ( a)(9)-9 of the Treasury 

Regulations plus the excess of 70 over the age of the Participant as 

of the Participant's birthday in the year that contains the Pension 

Effective Date. If the Participant's Spouse is the Participant's sole 

designated Beneficiary and the form of distribution is a period 

certain and no life annuity, the period certain may not exceed the 

longer of the Participant's applicable distribution period, as 

determined under this Section 8.06(d)(2), or the joint life and last 

survivor expectancy of the Participant and the Participant's spouse 

as determined under the Joint and Last Survivor Table set forth in 

section 1.401 (a)(9)-9 of the Treasury Regulations, using the 

Participant's and Spouse's attained ages as of the Participant's and 

Spouse's birthdays in the calendar year that contains the Pension 

Effective Date. 

(e) Requirements For Minimum Distributions Where Participant Dies Before 

Date Distributions Begin. 

( 1) If the Participant dies before the date distribution of his or her 

interest begins and there is a designated Beneficiary, the 

Participant's entire interest will be distributed, beginning no later 

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than the time described in Section 8.06(b)(2)(A) or (B)), over the 

life of the designated Beneficiary or over a period certain not 

exceeding: 

(A) unless the Pension Effective Date is before the first 

distribution calendar year, the life expectancy of the 

designated Beneficiary determined using the Beneficiary's 

age as of the Beneficiary's birthday in the calendar year 

immediately following the calendar year of the Participant's 

death; or 

(B) if the Pension Effective Date is before the first distribution 

calendar year, the life expectancy of the designated 

Beneficiary determined using the Beneficiary's age as of 

the Beneficiary's birthday in the calendar year that contains 

the Pension Effective Date. 

(2) If the Participant dies before the date distributions begin and there 

is no designated Beneficiary as of September 30 of the year 

following the year of the Participant's death, distribution of the 

Participant's entire interest will be completed by December 31 of 

the calendar year containing the fifth anniversary of the 

Participant's death. 

(3) If the Participant dies before the date distribution of his or her 

interest begins, the Participant's Spouse is the Participant's sole 

designated Beneficiary, and the Spouse dies before distributions to 

the Spouse begin, this Section 8.06(e) will apply as if the Spouse 

were the Participant, except that the time by which distributions 

must begin will be determined without regard to Section 

8.06(b )(2)(A) 

(f) Definitions. 

(1) Designated Beneficiary. The individual who is designated as the 

Beneficiary under the Plan and is the designated Beneficiary under 

Code Section 401(a)(9) and Treasury Regulation Section 

1.401(a)(9)-1, Q&A.4. 

(2) Distribution calendar year. A calendar year for which a minimum 

distribution is required. For distributions beginning before the 

Participant's death, the first distribution calendar year is the 

calendar year immediately preceding the calendar year which 

contains the Participant's required beginning date. For 

distributions beginning after the Participant's death, the first 

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AFMEPF0480 www.afm-epf.org 03-04-2015

distribution calendar year is the calendar year in which 

distributions are required to begin pursuant to Section 8.06(b)(2). 

(3) Life expectancy. Life expectancy as computed by use of the Single 

Life Table in Section 1.401(a)(9)-9 of the Treasury Regulations. 

(g) Required Beginning Date. 

(1) Each Participant's pension benefit must begin to be distributed not 

later than his Required Beginning Date, as defined below. 

(2) The Required Beginning Date of a Participant ( other than a 5% 

owner of an Employer, as defined in Code section 4 I 6(i), during 

the Plan Year ending in the calendar year in which he or she attains 

age 66 1⁄2 or any later Plan Year), who attained age 70 1⁄2 before 

January 1, 1988, is April 1 of the calendar year following the 

calendar year in which the later of retirement or attainment of age 

70 1⁄2 occurs. 

(3) The Required Beginning Date of a Participant who is not a 5-

percent owner (as defined in paragraph (2) hereof), who attained 

age 70 1⁄2 during 1988 and who had not retired as of January 1, 

1989, is April 1, 1990. 

( 4) The Required Beginning Date of a Participant who is a 5-percent 

owner ( as defined in paragraph (2) hereof) who attained age 70 1⁄2 

before January 1, 1988 is April 1 of the calendar year following the 

calendar year in which the later of (i) attainment of age 70 1/2, or 

(ii) the earlier of retirement or becoming a 5-percent owner (as 

defined in paragraph (2) hereof), occurs. 

(5) The Required Beginning Date of all other Participants is April 1 of 

the calendar year following the calendar year in which the 

Participant attains age 70 1 /2. 

Section 8.07 FORFEITURE OF UNCLAIMED BENEFITS OF LOST PARTICIPANTS 

OR BENEFICIARIES. 

(a) When distribution of a benefit is to commence to a Participant or Beneficiary 

under the Plan, including without limitation pursuant to Section 8.06 above, the 

Plan Administrator shall use all reasonable efforts to locate and contact the 

Participant or Beneficiary in accordance with the procedure that the 

Administrative Committee adopts for such purpose. If a Participant or 

Beneficiary does not respond to the Plan Administrator and claim his or her 

benefit within six months after the Plan Administrator, in accordance with 

procedure, has undertaken all reasonable measures to locate and contact such 

45 
AFMEPF0481 www.afm-epf.org 03-04-2015

individual, such individual shall be deemed to be "lost" as of such six-month 

anniversary. 

(b) Subject to the provisions of subsection ( c) of this Section, the unclaimed benefit 

of a Participant or Beneficiary that has been "lost" for a period of two consecutive 

years shall be forfeited at the end of such two year period and treated in 

accordance with other amounts forfeited under the Plan. 

( c) Notwithstanding the provisions of subsection (b) above, a "lost" Participant or 

Beneficiary shall have the right to claim payment of his or her benefit at any time 

beyond the two-year period referred to in subsection (b) of this Section, and such 

benefit shall be paid to such Participant or Beneficiary; provided, however, that 

(i) such benefit shall be reduced to the extent of any inadvertent overpayment 

made by the Fund as a result of such Participant or Beneficiary having been 

deemed "lost," and (ii) no interest shall be payable with respect to such benefit. 

46 
AFMEPF0482 www.afm-epf.org 03-04-2015

ARTICLE9 

PLAN AMENDMENT AND TERMINATION 

Section 9.01 AMENDMENT. 

(a) This Plan may be amended by the Trustees at any time, consistent with the 

provisions of, and in the manner provided by, the Trust Agreement. However, no 

amendment may decrease retroactively the accrued benefit of any Participant, 

except as permitted under Section 1.411 ( d)-4 of the Treasury Regulations or Code 

section 432. In the event of any such amendment, no part of the funds held in the 

Trust Fund shall be used for or diverted to any purpose other than for the 

exclusive benefit of the Participants or their Beneficiaries, except as may 

otherwise be permitted by ERISA or the Code. 

(b) No amendment of this Plan may deprive a Participant of any non-forfeitable right 

to a benefit accrued to the date of such amendment. Jf an amendment is adopted 

which has the effect of changing the vesting schedule, each Participant who has 

credit for at least three (3) Years of Vesting Service at the time the amendment is 

adopted or effective (whichever is later) may elect to have his or her nonforfeitable accrued benefit computed without regard to such amendment. Such 

election shall be made during the period commencing on the date the amendment 

is adopted and ending 60 days after the latest of the following: 

(1) the date the amendment is adopted; 

(2) the date the amendment becomes effective; or 

(3) the date the Participant is furnished written notice of the amendment. 

Section 9.02 TERMINATION. 

(a) Right to Terminate. The Trustees reserve the right to terminate the Plan, in 

whole or in part, consistent with the provisions of, and in the manner provided by, 

the Trust Agreement. In the event of such termination, no part of the funds held 

in the Trust Fund shall be used for or diverted to any purpose other than for the 

exclusive benefit of the Participants or their Beneficiaries, except as may 

otherwise be permitted by ERISA or the Code. 

(b) Vesting Upon Termination. Upon termination of the Plan in whole or in part, all 

affected Participants shall be 100% vested in their benefits accrued to the date of 

the complete or partial termination to the extent that such benefits are funded. 

(c) Limitations on Benefits to Highest-Paid Highly Compensated Employees. 

(1) In the event of the termination of the Plan, the benefit of any Highly 

Compensated Employee and former Employee shall be limited to a benefit 

that is non-discriminatory under Code section 40l(a)(4). 

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(2) The provisions of this paragraph (2) shall apply to any one of the 25 

highest paid Highly Compensated Employees and former Employees of 

Employers. The annual benefit payments to any such Employee shall be 

restricted to an amount equal to the payments that would be made on 

behalf of such Employee under a Single Life Annuity that is the actuarial 

equivalent of the sum of such Employee's accrued benefit (and the 

Employee's other benefits) under the Plan. The restrictions in this 

paragraph do not apply, however, if: 

( A) after payment to such Emp I oyee of all of his or her accrued 

benefits, the value of Plan assets equals or exceeds 110% of the 

value of current liabilities, as defined in Code section 412(1)(7); or 

(B) the value of such Employee's accrued benefits is less than one 

percent of the value of current liabilities; or 

(C) the value of such Employee's accrued benefits does not exceed the 

amount described in Code section 411 (a)( 11 )(A). 

(3) For purposes of the Plan, a "Highly Compensated Employee" shall mean 

each Employee who: 

(A) at any time during the calendar year or the preceding calendar year 

was a five percent owner of an Employer; 

(B) for the preceding calendar year received Testing Compensation 

from an Employer in excess of $115,000 (or such higher adjusted 

amount prescribed by the Secretary of the Treasury). 

For purposes of this Section, the term "Testing Compensation" 

means wages, salaries and other amounts received by or made 

available to an Employee for services rendered to an Employer, 

including deferred contributions under a cash or deferred 

arrangement described in Code section 40l(k), 125 or 132(f). 

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AFMEPF0484 www.afm-epf.org 03-04-2015

ARTICLE IO 

ADMINISTRATION 

Section 10.01 GENERAL ADl\flNISTRATION. This Plan is established, operated and 

administered, and the assets of the Plan held in the Trust Fund are invested, in accordance with 

the terms of the Trust Agreement. 

Section 10.02 AUTHORITY OF TRUSTEES. The Trustees, and any committee of the 

Trustees designated by the Trustees in accordance with the provisions of, and in the manner 

provided by, the Trust Agreement, shall have the exclusive right, power, and authority, in its sole 

and absolute discretion, to administer, apply and interpret the Plan, Trust Agreement and any 

other Plan documents and to decide all matters arising in connection with the operation or 

administration of the Plan or the Trust and the investment of Plan assets. Without limiting the 

generality of the foregoing, the Trustees, and any committee of the Trustees designated by the 

Trustees in accordance with the provisions of, and in the manner provided by, the Trust 

Agreement, shall have the sole and absolute discretionary authority to: (1) take all actions and 

make all decisions with respect to the eligibility for, and the amount of, benefits payable under 

the Plan; (2) formulate, interpret and apply rules, regulations and policies necessary to administer 

the Plan in accordance with its terms; (3) decide questions, including legal or factual questions, 

relating to the calculation and payment of benefits under the Plan; (4) resolve and/or clarify any 

ambiguities, inconsistencies and omissions arising under the Plan, Trust Agreement or other Plan 

documents; and (5) process, and approve or deny, benefit claims and rule on any benefit 

exclusions and determine the standard of proof in any case. All determinations and 

interpretations made by the Trustees, and any committee of the Trustees designated by the 

Trustees in accordance with the provisions of, and in the manner provided by, the Trust 

Agreement, with respect to any matter arising under the Plan, Trnst Agreement and any other 

Plan documents shall be final and binding on all affected Participants, Beneficiaries, and other 

individuals claiming benefits under the Plan. 

Section 10.03 INFORMATION AND PROOF. Benefits under this Plan will be paid only if 

the Trustees, or any committee of the Trustees designated by the Trnstees in accordance with the 

provisions of, and in the manner provided by, the Trust Agreement, decide, in their discretion, 

that the claimant is entitled to them. 

(a) Every Participant, Beneficiary or other claimant shall furnish, at the request of the 

Trustees, any information or proof reasonably required to determine his or her 

benefit rights under the Plan. Failure on the part of a claimant to comply with 

such request promptly, accurately, and in good faith shall be sufficient grounds 

for denying, postponing, or discontinuing benefits under the Plan to such person. 

If a claimant makes a willfully false statement material to his or her claim or 

furnishes fraudulent information or proof material to his or her claim, any benefits 

may be denied, suspended or discontinued. The Trustees shall have the right to 

recover any benefit payments made in reliance on any false or fraudulent 

statements, information or proof submitted by a Participant, Beneficiary or other 

claimant (including the withholding of a material fact) plus interest and costs 

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(including, without limitation, by recovery through offset of future benefit 

payments). 

(b) Each Participant and Beneficiary shall provide the Plan Administrator his or her 

ClllTent address in writing and prompt written notification of any change of 

address. No interest shall be payable with respect to any benefit payment 

delayed, postponed or discontinued as a result of the Plan Administrator not 

having correct address information. Any Fund communication addressed to a 

Participant or Beneficiary at his or her last address filed with the Plan 

Administrator shall be binding on the Participant and/or his or her Beneficiary. 

When distribution of a benefit is to commence to a Participant or Beneficiary 

under the Plan, and such Participant or Beneficiary cannot be reached at his or her 

last known address, the provisions of Section 8.07 shall apply. 

Section 10.04 CLAIMS PROCEDURE. 

( a) All initial claims for benefits under the Plan shall be directed to the attention of 

the Plan Administrator or its designee. A decision regarding the status of a claim 

for benefits shall be made by the Plan Administrator or its designee within 90 

days from the date the claim is filed. 

(b) If a claim is denied, in whole or in part, the Plan Administrator shall provide the 

claimant with the reasons for the denial with reference to the specific Plan 

provisions on which the denial was based, a description of any additional 

information needed to perfect the claim (including an explanation of why such 

information is necessary), and a description of the Plan's claims procedures, 

including a statement of the claimant's right to bring a civil action under ERISA 

section 502(a) following an adverse benefit determination on review. The Plan 

Administrator shall notify the claimant in writing of the reasons for the denial 

within 90 days after the date the claim is filed. If special circumstances require an 

extension of the time for the Plan Administrator to respond, the Plan 

Administrator may extend the 90 day period up to an additional 90 days. If this 

happens, the claimant shall receive written notification explaining the special 

circumstances which require more time as well as indicating the date by which a 

final decision is expected. 

(c) If a claim has been denied, the claimant may, within 60 days after receipt of the 

written notice of denial, request a review of the denial. This request must be in 

writing to the Administrative Committee and may include written comments, 

documents, records and other information relating to the claim for benefits. The 

claimant shall be provided, upon request and free of charge, reasonable access to, 

and copies of, all documents, records and other information relevant to the 

claimant's claim for benefits. A decision on review of the denial shall be made by 

the Administrative Committee at its next regularly scheduled meeting; provided, 

however, that if the request for a review is received by the Administrative 

Committee within 30 days prior to its next regularly scheduled meeting, the 

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decision may be made at the second regularly scheduled meeting of the 

Administrative Committee following receipt of the request for review. The 

Administrative Committee's review will take into account all comments, 

documents, records, and other information submitted by the claimant relating to 

the claim, without regard to whether such information was submitted or 

considered in the initial benefit determination. The written decision which shall 

be sent to the claimant shall specify the specific reason(s) for the denial, the Plan 

provisions on which the decision is based, a statement that the claimant is entitled 

to receive, upon request and free of charge, reasonable access to, and copies of, all 

documents, records, and other information relevant to the claimant's claim for 

benefits, as well as a statement of the claimant's right to bring a civil action under 

ERISA section 502(a). If special circumstances require an extension for time for 

processing a request for review, the decision of the Administrative Committee 

may be made at the third meeting following the date the request for review is 

made; provided, however, that the claimant shall receive written notification 

explaining the special circumstances which require more time as well as 

indicating the date by which a final decision is expected. 

(d) The decision of the Administrative Committee concerning an appeal shall be in 

writing and shall be final and binding on all affected parties. 

(e) No legal action seeking payment of benefits under the Plan, to otherwise enforce 

rights under the Plan, or to clarify a right to future benefits under the Plan may be 

commenced by a Participant, Beneficiary or other claimant ( or an agent or 

representative acting on behalf of a Participant, Beneficiary or other claimant) 

against the Plan, the Fund, the Trustees, or any employee or representative of the 

Plan or Fund: 

(1) unless the person claiming the benefits has followed and exhausted the 

procedures for review by the Administrative Committee that are described 

in this Section 10.4 and the Administrative Committee has either (i) 

denied the request for review in whole or in part; or (ii) made no decision 

within the time period described in Section 10. 04( c ); or 

(2) more than one year after the Administrative Committee has made its 

decision on review with regard to the relevant claim (provided that this 

provision shall have no effect on the applicable statute of limitations). 

(f) Special Procedures for Applications for a Non-SSA-Based Disability Pension 

Benefit. 

(1) Applications for a Disability Pension Benefit that are not based on a 

disability award issued by the Social Security Administration ("Non-SSABased Disability Pension Benefit") shall be subject to all of the general 

rules described in Section 10.04(a)-(e), except as they are amended by the 

specific provisions in this subsection. 

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(2) The initial decision on an application for a Non-SSA-Based Disability 

Pension Benefit will be made within 45 days after the application is filed, 

unless additional time is required due to matters beyond the control of the 

Fund, in which case the Plan Administrator will notify the Participant 

before the end of the initial 45 days of an extension of 30 days or less. If 

this happens, the claimant shall receive written notification explaining the 

standards on which entitlement to a benefit is based, the unresolved issues 

that prevent decision on the claim and the additional information needed 

to resolve those issues. The claimant shall be afforded at least 45 days 

within which to provide any information so requested. If necessary, the 

Plan Administrator may notify the Participant of a second extension of 30 

days or less, following the same procedure. No additional extensions may 

be made, except with the Participant's voluntary consent. 

(3) If an adverse decision on the application is based in whole or in part on 

any internal rule, guideline, or similar criterion, the notice to the 

Participant of the adverse decision will either set forth the internal rule, 

guideline, or similar criterion, or will state that such was relied upon and 

will be provided free of charge to the Participant upon request. 

(4) The Plan will identify any medical or vocational expert whose advice was 

obtained on behalf of the Plan in connection with an adverse benefit 

determination, without regard to whether the advice was relied upon in 

making the benefit determination. 

( 5) If a claim has been denied, the claimant may, within 180 days after receipt 

of the written notice of denial, request a review of the denial. 

(6) The Administrative Committee will consider the appeal de novo, without 

any deference to the initial benefit denial. 

(7) The Administrative Committee will not include any person who 

participated in the initial benefit denial or who is the subordinate of a 

person who participated in the initial benefit denial. 

(8) If the initial benefit denial was based in whole or in part on a medical 

judgment, the Administrative Committee will (i) consult with a health care 

professional who has appropriate training and experience in the field of 

medicine involved in the medical judgment, and who was neither 

consulted in connection with the initial benefit determination nor is the 

subordinate of any person who was consulted in connection with that 

determination, and (ii) upon notifying the Participant of an adverse 

determination on review, include in the written notice either an 

explanation of the clinical basis for the determination, applying the terms 

of the Plan to the claimant's medical circumstances, or a statement that 

such explanation will be provided free of charge upon request. 

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(g) If any extension of the time for responding to a claimant under this Section 10.04 

is due to the claimant's failure to submit information necessary to decide the 

claim, the period for making the determination will be tolled from the date on 

which the extension notice is sent to the date on which the Participant responds to 

the request for information. 

Section 10.05 EXCLUSIVE PROCEDURE FOR CORRECTING PLAN RECORDS 

RELATING TO COVERED EMPLOYMENT. 

(a) If a Participant, Beneficiary or alternate payee under a qualified domestic 

relations order, as defined in Code section 4 l 4(p ), contends that the Plan· s 

records of Covered Employment, Covered Earnings or Contributions are 

inaccurate, a written request for correction of the Plan's records must be 

provided to the Fund Office on forms provided by the Plan Administrator 

for such purpose. The person submitting such a request is refened to in 

this Section 10.05 as the "Applicant." 

(b) The Fund will consider a request for correction of the Plan's records with 

respect to Covered Employment or Contributions only if the request is 

received by the Fund Office no later than three years after the end of the 

calendar year in which the Participant received wages for that Covered 

Employment. No request that is received more than three years after the 

end of the calendar year in which the Participant received wages for that 

Covered Employment will be considered or granted. 

(d) The Plan Administrator or its designee shall notify the Applicant of the 

decision on each such request for correction of records, following the 

procedures described in Section 10.04(b ). The procedures described in 

Section 10.04(c), (d), (e) and (g) shall apply to any denial of such a 

request for conection of records in the same manner as those procedures 

apply to a denial of a benefit claim. 

(e) This procedure is the exclusive means by which a Participant, Beneficiary 

or alternate payee under a qualified domestic relations order, as defined in 

Code section 414(p), may obtain correction of the Plan's records that 

pertain to the Participant's Contributions, Covered Earnings, or Covered 

Employment. If the Plan receives no request for correction of those 

records for any year in accordance with this procedure, the information in 

the Plan's records for that year shall be final and binding on the 

Participant and on anyone claiming through the Participant (including a 

Beneficiary or alternate payee under a qualified domestic relations order, 

as defined in Code section 414(p)) with regard to Contributions, Covered 

Earnings, Covered Employment, Hours Credited, Pension Credit, and 

Years of Vesting Service for that year. 

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ARTICLE 11 

MISCELLANEOUS 

Section 11.01 RETURN OF CONTRIBUTIONS. In no event shall any of the corpus or 

assets of the Pension Fund revert to the Employers or be subject to any claims of any kind by the 

Employers, except that, in the sole and absolute discretion of the Trustees, Contributions (i) 

made by an Employer by a mistake of fact or law (including any Contributions inadvertently 

made on the basis of overscale wages) may be returned to such Employer within six months after 

the Plan Administrator determines that such Contribution was made by such a mistake, or (ii) 

which are determined to be non-deductible for tax purposes under Code section 404 may be 

returned to such Employer within one year following the date of such determination. 

Section 11.02 LIMITATION OF LIABILITY. The Plan has been established on the basis 

of an actuarial calculation which has established to the extent possible, that the Contributions 

will, if continued, be sufficient to maintain the Plan on a permanent basis, fulfilling the funding 

requirements ofERISA. Except as otherwise provided by law, (i) nothing in this Plan shall be 

construed to impose any obligation on an Employer to make payments to the Plan, beyond the 

Employer's obligation to make Contributions as required by any applicable collective bargaining 

agreement, paiticipation agreement, or similar agreement acceptable to the Trustees, and (ii) 

there shall be no liability upon the Trustees, the Plan Administrator, any Employer, or the AFM 

(either individually or collectively) to provide the benefits established by this Plan if the Fund 

does not have sufficient assets to pay for such benefits. 

Section 11.03 MERGERS, CONSOLIDATIONS AND TRANSFERS OF ASSETS. To 

the extent required by law, in the case of any merger or consolidation with, or transfer of assets 

and liabilities to, any other plan, provisions shall be made so that each Participant in the Plan 

affected thereby would (if the Plan then tenninated) receive a benefit immediately after the 

merger, consolidation or transfer which was equal to or greater than the benefit such Participant 

would have been entitled to receive immediately prior to the merger, consolidation or transfer (if 

the Plan had then terminated). 

Section 11.04 DIRECT ROLLOVER OF ELIGIBLE ROLLOVER DISTRIBUTIONS. 

(a) General Rule. Notwithstanding any provision of the Plan to the contrary that 

would otherwise limit a Distributee's election under this Section, a Distributee 

may elect, at the time and in the manner prescribed by the Plan Administrator, to 

have any portion of an Eligible Rollover Distribution paid directly to an Eligible 

Retirement Plan specified by the Distributee in a Direct Rollover. 

(b) Definitions. 

(1) Eligible Rollover Distribution: An Eligible Rollover Distribution is any 

distribution of all or any portion of the balance to the credit of the 

Distributee, except that an Eligible Rollover Distribution does not include: 

any distribution that is one of a series of substantially equal periodic 

payments (not less frequently than annually) made for the life (or life 

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expectancy) of the Distributee or the joint lives (or joint life expectancies) 

of the Distributee and the Distributee's designated beneficiary, or for a 

specified period often years or more; any distribution to the extent such 

distribution is required under Code section 401(a)(9); any distribution that 

is made on account of hardship to the Participant; and the portion of any 

distribution that is not includible in gross income. 

(2) Eligible Retirement Plan: An Eligible Retirement Plan is an individual 

retirement account described in Code section 408(a), an individual 

retirement annuity described in Code section 408(b ), an annuity plan 

described in Section 403(a), an annuity contract described in Code section 

403(b) and an eligible plan under Code section 457(b) which is maintained 

by a state, political subdivision of a state, or any agency or instrumentality 

of a state or political subdivision of a state and which agrees to separately 

account for amounts transferred into such plan from the Plan, or a 

qualified trust described in Code section 401(a), that accepts the 

Distributee's Eligible Rollover Distribution. With respect to distributions 

made on or after January 1, 2008, eligible retirement plan also means a 

Roth IRA described in Code section 408A. 

(3) Distributee: A Distributee includes an Employee or former Employee. In 

addition, the Employee's or former Employee's surviving spouse and the 

Employee's or former Employee's spouse or former spouse who is the 

alternate payee under a qualified domestic relations order, as defined in 

Code section 414(p ), are Distributees with regard to the interest of the 

spouse or former spouse. For purposes of this Section 11.4(b)(3, effective 

for distributions made on or after April 1, 2010, a nonspouse Beneficiary 

shall be considered a "Distributee," provided that such nonspouse 

Beneficiary shall only be allowed to elect, at the time and in the manner 

prescribed by the Plan Administrator, to have any portion of an Eligible 

Rollover Distribution paid in a Direct Rollover directly to an Eligible 

Retirement Plan that is (i) either an individual retirement account 

described in Code section 408(a), an individual retirement annuity 

described in Code section 408(b ), or a Roth IRA described in Code section 

408A(b), and (ii) an inherited retirement account or annuity under Code 

section 408. Effective for distributions made on or after April 1, 2010, a 

nonspouse Beneficiary shall be considered a "Distributee"; provided that 

such nonspouse Beneficiary shall only be allowed to elect, at the time and 

in the manner prescribed by the Plan Administrator, to have any portion of 

an Eligible Rollover Distribution paid in a Direct Rollover directly to an 

Eligible Retirement Plan that is (i) either an individual retirement account 

described in Code section 408(a), an individual retirement annuity 

described in Code section 408(b), or a Roth IRA described in Code section 

408A(b) and (ii) an inherited retirement account or annuity under Code 

section 408. 

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(4) Direct Rollover: A Direct Rollover is a payment by the Plan to the 

Eligible Retirement Plan specified by the Distributee. 

Section 11.05 NON-ALIENATION OF BENEFITS. No Participant or Beneficiary entitled 

to any benefits under this Plan shall have the right to assign, alienate, transfer, encumber, pledge, 

mortgage, hypothecate, anticipate, or otherwise impair in any manner his legal or beneficial 

interest, or any interest in assets of the Fund, or benefits of this Plan. Any such assignment, 

alienation, transfer, encumbrance, pledge, mortgage, hypothecation, anticipation, or other 

impairment shall be void and of no effect whatsoever. Such benefit payments or portions thereof 

shall not in any way be subject to legal process, execution, attachment or garnishment, nor be 

used for the payment of any legal claim against any such person nor be subject to the jurisdiction 

of any bankruptcy court or insolvency proceedings by operation of law or otherwise. Nothing in 

this Section shall prevent the Trustees or the Plan Administrator from complying with an order 

that is determined to be a qualified domestic relations order (as defined in BRISA section 206(d) 

and Code section 414(p)) or with any qualified domestic relations order procedures (or similar 

rules) that may be adopted by the Trustees or Administrative Committee from time to time. 

Notwithstanding the foregoing, a Participant's benefit under the Plan may be offset by any 

amount that the Participant is ordered or required to pay to the Plan to the extent permitted by 

Code section 401(a)(13)(C) and BRISA sections 206(d)(4) and (5). 

Section 11.06 BENEFIT OVERPAYMENTS. (a) In the event that any individual receives 

any payment from the Plan in excess of the amount that he or she is entitled to receive 

under the Plan (including due to mistake of fact or law, reliance on false or fraudulent 

statements, information or proof submitted by a claimant, or continuation of payments 

after the death of a Participant or a Beneficiary) ("Excess Payments"), he or she is 

obligated to repay such Excess Payments to the Plan upon receipt of a written notice by 

the Trustees or their designee requesting such repayment. 

(b) The Trustees or their designee shall have full authority, in their sole and absolute 

discretion, to recover the amount of any Excess Payments (plus interest and costs). That 

authority shall include, but shall not be limited to, the right to: (i) seek the Excess 

Payment in a lump sum from the recipient; (ii) the right to reduce benefits payable in the 

future to the recipient, (iii) the right to reduce benefits payable to a Beneficiary who is, or 

may become, entitled to receive payments under the Plan following the death of that 

person, and/or (iv) the right to initiate a lawsuit or take such other legal action as may be 

necessary to recover any overpayment (plus interest and costs). 

Section 11.07 INCOMPETENCE OR INCAPACITY OF PENSIONER OR 

BENEFICIARY. In the event it is determined to the satisfaction of the Administrative 

Committee or the Plan Administrator that a Pensioner or Beneficiary is unable to care for his or 

her affairs because of mental or physical incapacity, any payment due may be made to the legally 

appointed guardian, committee, or other legal representative appropriate to receive such 

payments on behalf of the Pensioner or Beneficiary, as determined by the Administrative 

Committee, in its sole discretion. 

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Section 11.08 GENDER AND NUMBER. Whenever the masculine pronoun is used in the 

Plan, it shall also be deemed to include the feminine, and when words are used in the Plan in the 

singular form, they shall, where appropriate, be construed so as to include the plural. 

Section 11.09 APPLICABLE LAW. The terms of the Plan shall be construed under the 

laws of the State of New York applicable to contracts made and to be performed within the 

County and State of New York (without regard to any conflict oflaws provision), except to the 

extent that such laws are pre-empted by BRISA or any other applicable laws of the United 

States. 

Section 11.10 NEW EMPLOYERS. If an Employer is sold, merged or otherwise undergoes 

a change of identity, the successor Employer shall participate in the Plan as to the Employees of 

such Employer theretofore covered under the Plan just as ifit were the original Employer. 

Section 11.11 DEFINITIONS. All words and phrases defined in the Trust Agreement shall 

have the same meaning in this Plan, except as otherwise expressly provided herein. 

Section 11.12 SEVERABILITY. If any one or more of the provisions of this Plan (or any 

amendment hereto) shall be held contrary to any provision of law, or shall for any reason 

whatsoever be held invalid, then such provisions (or amendments) shall (i) be enforced only to 

the extent not contrary to law, (ii) be deemed severable from the remaining provisions of this 

Plan, and (iii) shall in no way affect the validity or enforceability of the other provisions of this 

Plan or the rights of the parties hereto. 

Section t 1.13 SUCCESSOR PROVISIONS OF LAW. Any references to a section of 

ERlSA or the Code (or any other statute), or to any regulations or administrative 

pronouncements thereunder, shall be deemed to include a reference to any successor provision of 

ERISA or the Code ( or of any successor federal law), or to any successor regulations or 

administrative pronouncements thereunder. 

Section 11.14 CONSTRUCTION. Anything in this Plan, or any amendment hereof, to the 

contrary notwithstanding, no provision of this Plan shall be construed so as to violate the 

requirements of ERISA, the Code, or other applicable law. 

Section 11.15 RIGHTS IN FUND. No Employee, Participant, Beneficiary, or other person 

or group of persons, nor any organization, nor any person claiming through them (other than the 

Trustees), shall have any right, title or interest in any of the income or property of any character 

received or held by or for the accmmt of the Fund (by reason of having been named a 

Beneficiary or otherwise), and no such person shall have any right to any benefit provided by the 

Plan (except as otherwise provided herein), nor shall any person be entitled to any payment from 

the assets of the Fund, unless and until the Trustees determine that he or she fulfills all the 

requirements for a benefit in accordance with the specific provisions of the Plan. 

Section 11.16 PROVISIONS INCONSISTENT WITH QUALIFIED STATUS. This Plan 

is intended to be a qualified Plan under the Code. Any provision of this Plan that would cause 

the Plan to fail to comply with the requirements for qualified plans under the Code shall, to the 

extent necessary to maintain the qualified status of the Plan, be null and void ab initio, and of no 

57 
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force and effect, and the Plan shall be construed as if the provision had never been inserted in the 

Plan. 

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ARTICLE 12 

MERGER OF THE FUND STAFF EMPLOYEES' PENSION PLAN 

Section 12.01 DEFINITIONS. For purposes of this Article 12, the following definitions 

shall apply: 

(a) "Staff Plan" shall mean the American Federation of Musicians and Employers' 

Pension Fund Staff Pension Plan, as restated effective as of January 1, 1989. 

(b) "Staff Plan Merger Ag1·eement" shall mean the Agreement of Merger of the 

American Federation of Musicians and Employers' Pension Fund Staff Pension 

Plan into the American Federation of Musicians and Employers' Pension Fund 

dated September 30, 1999 and effective as of December 31, 1999. 

( c) "Staff Plan Pensioner'' shall mean any fo1mer participant in the Staff Plan, or a 

beneficiary of a former participant in the Staff Plan, who, on December 31, 1999, 

was receiving payment of monthly benefits under the Staff Plan. 

(d) "Staff Plan Terminated Vested Participant" shall mean any former participant 

in the Staff Plan who terminated employment covered under the Staff Plan prior 

to December 31, 1999, and who had a vested right to a benefit under the Staff 

Plan as of such date. 

( e) "Staff Plan Active Participant" shall mean any former participant in the Staff 

Plan who, on December 31, 1999, was an active participant under the Staff Plan 

and who becomes an Active Participant in this Plan effective January 1, 2000. 

Section 12.02 MERGER OF THE STAFF PLAN INTO THE FUND. Effective as of 

December 31, 1999, the Staff Plan merged into the Fund pursuant to the terms of the Staff Plan 

Merger Agreement. The provisions of this Article 12 shall apply to Staff Plan Pensioners, Staff 

Plan Terminated Vested Participants and Staff Plan Active Participants and shall be controlling 

to the extent of any inconsistency with any other provisions of this Plan. 

Section 12.03 STAFF PLAN PENSIONERS. Effective on and after January 1, 2000, 

monthly benefits payable to Staff Plan Pensioners under the Staff Plan shall be paid by the Fund 

in accordance with the terms and provisions of the Staff Plan as of December 31, 1999. Staff 

Plan Pensioners and their beneficiaries shall not be considered Pensioners and Beneficiaries for 

purposes of any provision of this Plan regarding benefit improvements. 

Section 12.04 STAFF PLAN TERMINATED VESTED PARTICIPANTS. Effective on 

and after January 1, 2000, the Fund shall pay to Staff Plan Terminated Vested Participants and 

their beneficiaries the benefits that they accmed under the Staff Plan as of December 31, 1999; 

provided, however, that the payment of benefits to Staff Plan Terminated Vested Participants and 

their beneficiaries shall be governed by the terms and provisions of the Staff Plan as of 

December 31, 1999, except that Staff Plan Terminated Vested Participants shall be considered 

Participants under this Plan for purposes of Article 8 (Method and Timing of Distribution of 

Benefits), Article 9 (Plan Amendment and Termination), Article 10 (Administration) and Article 

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11 (Miscellaneous). Once receiving payment of monthly benefits, Staff Plan Terminated Vested 

Participants and their beneficiaries shall not be considered Pensioners and Beneficiaries for 

purposes of any provision of this Plan regarding benefit improvements. 

Section 12.05 STAFF PLAN ACTIVE PARTICIPANTS. Staff Plan Active Participants 

shall be considered Participants under this Plan and shall be governed by the terms and 

provisions of this Plan, except as provided in subsections (a) and (b). 

(a) The amount of an eligible Staff Plan Active Participant's monthly Regular 

Pension Benefit shall be the sum of (i) the amount calculated for such individual 

under Section 5.03(a) of this Plan with respect to benefits accrued by such 

individual under this Plan on and after January 1, 2000, and (ii) the amount of 

such individual's monthly accrued benefit under the Staff Plan as of December 

31, 1999 as set forth in Exhibit A to the Staff P Ian Merger Agreement. This 

monthly Regular Pension Benefit amount shall be used in calculating any type of 

benefit payable to, or on behalf of, a Staff Plan Active Participant under this Plan 

that is generally based on a Participant's monthly Regular Pension Benefit 

amount calculated under Section 5.03(a) of this Plan, except for purposes of the 

calculation contained in Section 5.06 of this Plan which shall be based solely on 

benefits accrued under this Plan after December 3 1, 1999. 

(b) For purposes of Section 8.06 (Timing and Distribution of Benefits), the Required 

Beginning Date for all Staff Plan Active Participants is April 1 of the calendar 

year following the calendar year in which the later of retirement or attainment of 

age 70 1⁄2 occurs. The provisions of Code section 40l(a)(9) and the final Treasury 

Regulations promulgated thereunder shall be controlling in the event of any 

inconsistency between the preceding sentence and such provisions. 

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ARTICLE 13 

MERGER OF THE AFM RETIREMENT PLAN 

Section 13.01 DEFINITIONS. For purposes of this Article 13, the following definitions 

shall apply: 

(a) "AFM Plan" shall mean the American Federation of Musicians Retirement Plan, 

as restated effective April 1, 1989, including all terms and provisions in effect as 

of March 31, 2000. 

(b) "AFM Plan Merger Agreement" shall mean the Agreement of Merger of the 

American Federation of Musicians Retirement Plan into the American Federation 

of Musicians and Employers' Pension Fund dated March 8, 2000, and effective as 

of April 1, 2000. 

(c) "AFM Plan Pensioner" shall mean any former participant in the AFM Plan, or a 

beneficiary of a former participant in the AFM Plan, who, on March 31, 2000, 

was receiving payment of monthly benefits under the AFM Plan. 

(d) "AFM Plan Terminated Vested Participant" shall mean any former participant 

in the AFM Plan who terminated employment covered under the AFM Plan prior 

to March 31, 2000, and who had a vested right to a benefit under the AFM Plan as 

of such date. 

(e) "AFM Plan Active Participant" shall mean any former participant in the AFM 

Plan who, on March 31, 2000, was an active participant under the AFM Plan and 

who is an Active Participant in this Plan effective April 1, 2000. 

Section 13.02 MERGER OF THE AFM PLAN INTO THE FUND. Effective as of April 

1, 2000, the AFM Plan merged into the Fund pursuant to the terms of the AFM Plan Merger 

Agreement. The provisions of this Article 13 shall apply to AFM Plan Pensioners, AFM Plan 

Terminated Vested Participants and AFM Plan Active Participants, and shall be controlling to 

the extent of any inconsistency with any other provisions of this Plan. 

Section 13.03 AFM PLAN PENSIONERS. Effective on and after April 1, 2000, monthly 

benefits payable to AFM Plan Pensioners under the AFM Plan shall be paid by the Fund in 

accordance with the terms and provisions of the AFM Plan. AFM Plan Pensioners and their 

beneficiaries shall not be considered Pensioners and Beneficiaries for purposes of any provision 

of this Plan regarding benefit improvements. 

Section 13,04 AFM PLAN TERMINATED VESTED PARTICIPANTS. Effective on and 

after April 1, 2000, the Fund shall pay to AFM Plan Terminated Vested Participants and their 

beneficiaries the benefits that they accrued under the AFM Plan as of March 31, 2000; provided, 

however, that the payment of such benefits to AFM Plan Terminated Vested Participants and 

their beneficiaries shall be governed by the terms and provisions of the AFM Plan, except that 

AFM Plan Terminated Vested Participants shall be considered Participants under this Plan for 

purposes of Articles 8 through 11 of this Plan. Once receiving payment of monthly benefits, 

61 
AFMEPF0497 www.afm-epf.org 03-04-2015

AFM Plan Terminated Vested Participants and their beneficiaries shall not be considered 

Pensioners and Beneficiaries for purposes of any other provision of this Plan regarding benefit 

improvements. 

Section 13.05 AFM PLAN ACTIVE PARTICIPANTS. AFM Plan Active Participants 

shall be considered Participants under this Plan and shall be governed by the terms and 

provisions of this Plan, except as provided in subsections (a) through (e) below. 

(a) The amount of an eligible AFM Plan Active Participant's monthly Regular 

Pension Benefit shall be the sum of (i) the amount calculated for such individual 

under Section 5.03(a) of this Plan with respect to benefits accrued by such 

individual under this Plan (not including the amount of such individual's monthly 

accrued benefit under the AFM Plan as of March 31, 2000), and (ii) the amount of 

such individual's monthly accrued benefit under the AFM Plan as of March 31, 

2000 as set forth in Exhibit A to the AFM Plan Merger Agreement. Except as 

provided in subsections (b) through (t) below, this monthly Regular Pension 

Benefit amount shall be used in calculating any type of benefit payable to, or on 

behalf of, an AFM Plan Active Participant under this Plan that is generally based 

on a Participant's monthly Regular Pension Benefit amount calculated under 

Section 5.03(a) of this Plan. 

(b) If payment of an AFM Plan Active Participant's Regular Pension Benefit is to 

commence prior to such individual's attainment of No1111al Retirement Age, the 

amount of the benefit shall be the sum of (i) the amount calculated for such 

individual under Section 5.03(a) of this Plan with respect to benefits accrued by 

such individual under this Plan, and (ii) the amount of the early retirement benefit 

to which such individual is entitled under the terms and provisions of the AFM 

Plan with respect to benefits accrued by such individual under the AFM Plan as of 

March 31, 2000, but determined using the individual's actual age and total service 

credit (earned under both the AFM Plan and this Plan) as of the Pension Effective 

Date of the benefit. 

( c) If an AFM Plan Active Participant commences receiving payment of a pension 

benefit prior to Normal Retirement Age, and thereafter becomes eligible for an 

additional benefit under Section 5.06 of this Plan, the portion of the AFM Plan 

Active Participant's original monthly benefit which is attributable to the benefits 

accrued under the AFM Plan prior to April 1, 2000 shall not be taken into 

consideration in calculating the additional benefit under Section 5.06 of this Plan. 

(d) Benefit Improvements. 

(1) No provision of this Plan regarding benefit improvements shall apply to 

the portion of the monthly benefits paid to AFM Plan Active Participants 

and their beneficiaries which is attributable to the benefits accrued by the 

AFM Plan Active Participants under the AFM Plan prior to April 1, 2000. 

62 
AFMEPF0498 www.afm-epf.org 03-04-2015

(2) Effective each July 1, for AFM Plan Active Participants and their 

beneficiaries who are receiving payment of monthly benefits as of the 

previous July, the portion of the monthly benefits which is attributable to 

benefits accrued under the AFM Plan prior to April 1, 2000 shall be 

adjusted upward or downward to reflect the percentage change in the 

Consumer Price Index between March of the year prior to the adjustment 

year and March of the adjustment year, rounded to the nearest one-tenth of 

one percent; provided, however, that such portion shall not be adjusted 

below its value as of the Pension Effective Date under this Plan, or above 

the sum of (i) its value as of the Pension Effective Date under this Plan, 

plus (ii) four percent times the number of full years during which the 

pension has been in effect. For an AFM Plan Active Participant who 

commenced receiving payment of his or her monthly benefits since July 1 

of the preceding year, the portion of such individual's monthly benefits 

attributable to benefits accrued under the AFM Plan shall receive a pro 

rata portion of the benefit adjustment described in the preceding sentence. 

( e) With respect to an AFM Plan Active Participant who dies after he or she is vested 

in a Regular Pension Benefit, but prior to his or her Pension Effective Date under 

this Plan for a Regular Pension Benefit or Disability Pension Benefit, and who is 

unmarried at death, the death benefit which shall be payable to his or her 

Beneficiary shall be (i) the benefit determined under Section 7.01 of this Plan 

with respect to benefits accrued by such individual under this Plan, and (ii) the 

lump sum payment of the AFM Plan Active Participant's "Accumulated 

Contributions" under the AFM Plan, as defined in Section 1.01 of the AFM Plan. 

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AFMEPF0499 www.afm-epf.org 03-04-2015

ARTICLE 14 

PUERTO RICO EMPLOYEES 

Section 14.01. INTRODUCTION. All terms and provisions of the Plan shall apply to the 

participation in the Plan by Pue1to Rico Employees, except that where the terms and 

provisions of the Plan and this Puerto Rico Supplement conflict, the terms of the Puerto Rico 

Supplement shall govern the participation in the Plan of Puerto Rico Employees. 

Section 14.02. APPLICABILITY OF THIS ARTICLE. This Article 14 amends the 

provisions of the Plan only to the extent that it is applicable to a Puerto Rico Employee. In 

no case shall any provision of this Article 14 cause the reduction or elimination of any 

Employee's accrued benefit (including optional forms of benefit and the manner and timing 

thereof) in violation of Section 41 l(d)(6) of the Code or Section 204(g) of ERISA. 

Section 14.03. ADDITIONAL DEFINITIONS OF TERMS. 

(a) The term "Puerto Rico Code" means the Puerto Rico Internal Revenue Code of 

2011, as amended, or any successor statute enacted in its place. 

(b) The term "Direct Rollover Distribution" means a distribution which constitutes an 

eligible rollover distribution as defined in Section 1081.0l(b)(2)(A) of the Puerto 

Rico Code and which is rolled over to an eligible retirement plan in accordance 

with Section 14. 04( c) below, as amended herein. 

(c) The term "Highly Compensated Puerto Rico Employee" means any Puerto Rico 

Employee who (a) is an officer of an Employer; (b) owns more than five percent 

(5%) of the stock entitled to vote or ofthe total value of all classes of stock of an 

Employer; (c) owns more than five percent (5%) of the capital or of the interest in 

the profits of an Employer; or ( d) had Testing Compensation from an Employer 

for the preceding taxable year in excess of the applicable limits determined for 

such taxable year under Section 414( q)(l )(B) of the Code, as amended from time 

to time or as adjusted by the Internal Revenue Service. To determine whether a 

Puerto Rico Employee owns more than five percent (5%) of the stock, capital or 

interest in the profits of an Employer, the provisions under Section 

1081.01(a)(14)(A) of the Puerto Rico Code shall apply. This definition shall be 

interpreted consistently with Section 1081.0l(d)(3)(e)(iii) of the Puerto Rico Code 

and any optional rules permitted by Puerto Rico law in identifying Highly 

Compensated Puerto Rico Employees shall be incorporated into this definition. 

( d) "Puerto Rico Employee" means an Employee who is a bona fide resident of 

Puerto Rico for purposes of Section 93 7 of the Code and whose compensation is 

included in gross income for purposes of Section 1031.01 of the Puerto Rico 

Code. 

Section 14.04. EFFECT OF THIS ARTICLE. The following are amendments to the Plan 

which apply only to Puerto Rico Employees, as follows: 

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AFMEPF0500 www.afm-epf.org 03-04-2015

(a) The following is added to the end of Section 1.09 of the Plan: 

"Effective for Plan Years beginning on or after April 1, 2012, for Puerto Rico 

Employees, Covered Earnings or Earnings taken into account in any Plan Year 

shall not exceed the lesser of (i) the Covered Earning or Earnings limit in the 

paragraph above, or (ii) the compensation limit under Section 1081.01 (a)(12) of 

the Puerto Rico Code." 

(b) The following is added to the end of Section 1.14 of the Plan: 

"Effective for Plan Years beginning on or after April 1, 2012, for purposes of 

determining the Fund's qualified status under Section 1081.01 (a) of the Puerto 

Rico Code, the tenn "Employers" or "Contributing Employers" shall include all 

corporations, partnerships and other persons that pursuant to Section 

1081.0l(a)(14)(A) are deemed to be the same employer." 

(c) The following new Section 11.04(c) is added to the Plan: 

"(c) Direct Rollover Distributions For Puerto Rico Employees. 

( 1) The following provisions shall apply to distributions from the Plan: 

(i) If a Puerto Rico Employee or a Beneficiary of a Puerto Rico Employee 

(referred to collectively as the "distributee") is entitled to a distribution 

under the Plan that constitutes an "eligible rollover distribution" as defined 

below, the distribution shall be eligible for direct rollover. 

(ii) At the written request of such distributee, and upon receipt of the 

written direction of the Trustees ( or a person or committee designated by 

the Trustees), the Trustees shall make a Direct Rollover Distribution of the 

amount requested by such distributee in accordance with Section 

1081.01(b)(2)(A) of the Puerto Rico Code, to an eligible retirement plan 

(as defined below). 

(iii) For purposes of this Section 1 l.04(c), an "eligible rollover 

distribution" is a single lump sum payment, as defined in Section 

1081.01 (b )(1) of the Puerto Rico Code. 

(iv) For purposes of this Section 11.04( c ), an "eligible retirement plan" is 

an individual retirement account described in Section 1081.02(a) of the 

Puerto Rico Code, an individual retirement annuity described in Section 

1081. 02(b) of the Puerto Rico Code, or a qualified trust described in Section 

1081.0l(a) of the Puerto Rico Code that accepts direct rollovers. 

(2) All Direct Rollover Distributions shall be made in accordance with the 

following: 

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AFMEPF0501 www.afm-epf.org 03-04-2015

(i) A Direct Rollover Distribution may be divided and made only between 

two eligible retirement plans. A Direct Rollover Distribution may not be 

divided among more than two eligible retirement plans. 

(ii) Direct Rollover Distributions shall be made in cash to the trustee of 

the eligible retirement plan, in accordance with procedures established by 

the Trustees (or a person or committee designated by the Trustees) to 

make direct rollovers under Section 1081.01 (b )(2)(A) of the Puerto Rico 

Code. 

(iii) Direct Rollover Distribution shall not be made unless the distributee 

furnishes the Trustees (or a person or committee designated by the 

Trustees) with such information as the Trustees (or a person or committee 

designated by the Trustees) shall require and deem to be sufficient. 

(iv) Direct Rollover Distributions shall be treated as all other distributions 

under the Plan. They shall not be treated as a direct trustee-to-trustee 

transfer of Plan assets and liabilities. 

(d) Effective for Plan Years commencing on or after April 1, 2012, the total annual 

benefit payable to any Puerto Rico Employee under this Plan and all other 

qualified defined benefit plans required to be aggregated wjth this Plan shall not 

exceed the lesser of (i) the defined benefit limitation on annual benefits provided 

in Section 5.08(b) above, or (ii) the limitations on such benefits provided under 

Section 1081.0l(a)(l 1) of the Puerto Rico Code. 

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AFMEPF0502 www.afm-epf.org 03-04-2015

(a) General 

APPENDIX A 

ACTUARIAL FACTORS 

The provisions of this Appendix A shall apply to determine actuarial equivalence under 

the Plan. 

Subject to the provisions set forth below, the interest rate generally used to determine 

actuarially equivalent forms of benefit under the Plan shall be seven and one-half percent. 

Subject to the provisions set forth below, the mortality rates generally used to compute 

actuarially equivalent forms of benefit under the Plan shall be the rates contained in the 1971 

Group Annuity Mortality 50%/50% blended table. 

(b) Cash-outs, Redeterminations, Re-1·etirements and Pre-retirement Death Benefits 

In order to determine the present value oflump-sum benefits subject to Code section 

417(e)(3) and to determine actuarial equivalence under Sections 5.06 and 7.01, the following 

assumptions shall apply: 

(l)(A) Effective for Plan Years ending on or before March 31, 2000, the interest rate 

used shall be the lower of: 

(i) the annual interest rate on 30-year Treasury securities which is in effect 

for the month of February immediately preceding the Plan Year which 

contains the applicable Pension Effective Date; or 

(ii) 7.50%. 

(B) Effective for the Plan Year beginning on April 1, 2000, and ending on March 31, 

2001, the interest rate used shall be the lower of: 

(i) the annual interest rate on 30-year Treasury securities which is in effect 

for either (A) the month of February immediately preceding the Plan Year 

which contains the applicable Pension Effective Date, or (B) the month of 

December immediately preceding the Plan Year which contains the 

applicable Pension Effective Date, whichever rate produces the higher 

benefit; or 

(ii) 7.50%. 

( C) Effective for Plan Years beginning on and after A pri I 1, 2001 and ending on or 

before March 31, 2008, the interest rate used shall be the lower of: 

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AFMEPF0503 www.afm-epf.org 03-04-2015

(i) the annual interest rate on 30-year Treasury securities which is in effect 

for the month of December immediately preceding the Plan Year which 

contains the applicable Pension Effective Date; or 

(ii) 7.50%. 

(D) Effective for Plan Years beginning on or after April 1, 2008, the interest rate to 

be used shall be the lower of: 

(i) the "applicable interest rate," as defined in Code section 417(e)(3), for the 

month of December preceding the Plan Year which contains the applicable 

Pension Effective Date; or 

(ii) 7.50%. 

(2) the mortality rates used shall be the rates contained in the mortality table 

prescribed in Internal Revenue Service Revenue Notice 2008-85 or such other 

mortality table prescribed by the Secretary of the Treasury under Code section 

417(e)(3). 

Notwithstanding the foregoing, the present value of a lump sum benefit subject to Section 

417( e )(3) which is payable on or after April 1, 1995 shall not be less than the value calculated 

based on the Participant's benefit accrued through March 3 1, 199 5 using ( i) an interest rate of 

seven and one-half percent, and (ii) the applicable mortality rate contained in the 1971 Group 

Annuity Mortality Table for Males (for Participants) and the Table for Females (for 

Beneficiaries). 

(c) Post Normal Retirement Age 

In order to calculate monthly benefits that commence after Nmmal Retirement Age under 

Section 5.03(b) and Section 5.03(c), the Actuarial Equivalent of the Participant's monthly 

pension benefit shall be the amount that would have been payable as of Normal Retirement Age, 

increased by the applicable factor. 

Age/ 

Month 0 1 2 3 4 5 6 7 8 9 10 11 

65 1.000 1.008 1.015 1.023 1.030 1.038 1.045 1.053 1.060 1.068 1.075 1.083 

66 1.090 1.098 1.107 1.115 1.123 1.132 1.140 1.148 1.157 1.165 1.173 1.182 

67 1.190 1.199 1.208 1.218 1.227 1.236 1.245 1.254 1.263 1.273 1.282 1.291 

68 1.300 1.310 1.320 1.330 1.340 1.350 1.360 1.370 1.380 1.390 1.400 1.410 

69 1.420 1.433 1.445 1.458 1.470 1.483 1.495 1.508 1.520 1.533 1.545 1.558 

70 1.570 1.583 1.597 1.610 1.623 1.637 1.650 1.663 1.677 1.690 1.703 1.717 

71 1.730 1.745 1.760 1.775 1.790 1.805 1.820 1.835 1.850 1.865 1.880 1.895 

72 1.910 1.928 1.947 1.965 1.983 2.002 2.020 2.038 2.057 2.075 2.093 2.112 

73 2.130 2.150 2.170 2.190 2.210 2.230 2.250 2.270 2.290 2.310 2.330 2.350 

68 
AFMEPF0504 www.afm-epf.org 03-04-2015

74 2.370 2.394 2.418 2.443 2.467 2.491 2.515 2.539 2.563 2.588 2.612 2.636 

75 2.660 2.688 2.715 2.743 2.770 2.798 2.825 2.853 2.880 2.908 2.935 2.963 

76 2.990 3.023 3.055 3.088 3.120 3.153 3.185 3.218 3.250 3.283 3.315 3.348 

77 3.380 3.419 3.458 3.498 3.537 3.576 3.615 3.654 3.693 3.733 3.772 3.811 

78 3.850 3.897 3.943 3.990 4.037 4.083 4.130 4.177 4.223 4.270 4.317 4.363 

79 4.410 4.466 4.522 4.578 4.633 4.689 4.745 4.801 4.857 4.913 4.968 5.024 

80 5.080 

(d) 50 % Joint and Sunrivor Annuity and 75% Joint and Sunrivor Annuity Options 

In order to compute a 50% Joint and Survivor Annuity or a 75% Joint and Survivor 

Annuity, the amount of the monthly payment that would otherwise be payable to the Participant 

shall be adjusted by multiplying it by the following percentage, as applicable: 

(1) 50 % Joint and Survivor Annuity - Regular Pension Benefit: 93.2% minus .50% 

for each full year that the Joint Annuitant's date of birth is later than the 

Participant's date of birth or plus .50% for each full year that the Joint Annuitant1s 

date of birth precedes the Participant's date of birth, up to 99%; or 

(2) 50 % Joint and Survivor Annuity - Disability Pension Benefit: 89.6% minus 

.40% for each full year that the Joint Annuitant's date of birth is later than the 

Participant's date of birth or plus .40% for each full year that the Joint Annuitant1 s 

date of birth precedes the Participant's date of birth, up to 99%; or 

(3) 75% Joint and Survivor Annuity - Regular Pension Benefit: 90.2% minus .60% 

for each full year that the Joint Annuitant's date of birth is later than the 

Participant's date of birth or plus .60% for each full year that the 75% Joint 

Annuitant's date of birth precedes the Participant's date of birth, up to 99%; or 

(4) 75% Joint and Survivor Annuity - Disability Pension Benefit: 84.5% minus .50% 

for each full year that the 75% Joint Annuitant's date of birth is later than the 

Participant's date of birth or plus .50% for each full year that the Joint Annuitant's 

date of birth precedes the Participant's date of birth, up to 99%. 

(e) Disability Pension Benefit 

In order to determine the Disability Pension Benefit under Section 5.05, the following 

factors shall apply to the Regular Pension Benefit monthly amount a Participant would 

receive ifhe or she were age 65 based upon his or her attained age as of the Pension Effective 

Date of the Participant's Disability Pension Benefit (as determined in accordance with Section 

5.04(c): 

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Attained Age . Actuarial Equivalent 

Factor 

30 0.0470 

31 0.0507 

32 0.0547 

33 0.0591 

- 34 0.0639 

35 0.0690 

36 0.0746 

37 0.0807 

38 0.0872 

39 0.0944 

40 0.1022 

41 0.1107 

42 0.1200 

43 0.1301 

44 0.1412 

45 0.1533 

46 0.1666 

47 0.1811 

48 0.1971 

49 0.2146 

50 0.2340 

51 0.2552 

52 0.2788 

53 0.3047 

54 0.3335 

55 0.3655 

56 0.4011 

57 0.4407 

58 0.4850 

59 0.5346 

60 0.5903 

61 0.6531 

62 0.7240 

63 0.8043 

64 0.8957 

70 
71 

IN WITNESS WHEREOF, the undersigned have executed this American Federation of 

Musicians and Employers Pension Plan on this 30th day of December, 2014. 

By: /s/ Raymond M. Hair, Jr. 

 Raymond M. Hair, Jr., Co-Chair 

By: /s/ Alan H. Raphael 

 Alan H. Raphael, Co-Chair 

AFMEPF0506 www.afm-epf.org 03-04-2015
AMENDMENT NUMBER ONE TO THE

AMERICAN FEDERATION OF MUSICIANS AND EMPLOYERS’ PENSION PLAN

(As Amended and Restated Effective as of January 1, 2014) 

WHEREAS, the Board of Trustees (the “Board”) of the American Federation of Musicians 

and Employers’ Pension Fund (the “Fund”) adopted the American Federation of Musicians and 

Employers’ Pension Plan, as amended and restated effective as of January 1, 2014 (the “Plan”); 

and

WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves the right to 

amend the Plan at any time; and

WHEREAS, the Board has agreed to amend the Plan as requested by the Internal Revenue 

Service in connection with the Plan’s request for a favorable determination on its continued taxqualified status; 

NOW, THEREFORE, the Plan is hereby amended, effective as of the January 1, 2014 

amendment and restatement date, to delete Article A (Puerto Rico Employees) and adopt a new 

Addendum A (Puerto Rico Employees) as follows:

ADDENDUM A

PUERTO RICO EMPLOYEES

Section A.01. INTRODUCTION. All terms and provisions of the Plan shall apply to the 

participation in the Plan by Puerto Rico Employees, except that where the terms and provisions 

of the Plan and this Puerto Rico Supplement conflict, the terms of the Puerto Rico Supplement 

shall govern the participation in the Plan of Puerto Rico Employees.

Section A.02. APPLICABILITY OF THIS ARTICLE. This Article A amends the 

provisions of the Plan only to the extent that it is applicable to a Puerto Rico Employee. In no 

case shall any provision of this Article A cause the reduction or elimination of any Employee’s 

accrued benefit (including optional forms of benefit and the manner and timing thereof) in 

violation of Section 411(d)(6) of the Code or Section 204(g) of ERISA. 

Section A.03. ADDITIONAL DEFINITIONS OF TERMS. 

(a) The term “Puerto Rico Code” means the Puerto Rico Internal Revenue Code of 

2011, as amended, or any successor statute enacted in its place. 

(b) The term “Direct Rollover Distribution” means a distribution which constitutes an 

eligible rollover distribution as defined in Section 1081.01(b)(2)(A) of the Puerto 

AFMEPF0507
Rico Code and which is rolled over to an eligible retirement plan in accordance 

with Section A.04(c) below, as amended herein. 

(c) The term “Highly Compensated Puerto Rico Employee” means any Puerto Rico 

Employee who (a) is an officer of an Employer; (b) owns more than five percent 

(5%) of the stock entitled to vote or of the total value of all classes of stock of an 

Employer; (c) owns more than five percent (5%) of the capital or of the interest in 

the profits of an Employer; or (d) had Testing Compensation from an Employer 

for the preceding taxable year in excess of the applicable limits determined for 

such taxable year under Section 4A(q)(1)(B) of the Code, as amended from time 

to time or as adjusted by the Internal Revenue Service. To determine whether a 

Puerto Rico Employee owns more than five percent (5%) of the stock, capital or 

interest in the profits of an Employer, the provisions under Section 

1081.01(a)(A)(A) of the Puerto Rico Code shall apply. This definition shall be 

interpreted consistently with Section 1081.01(d)(3)(e)(iii) of the Puerto Rico Code 

and any optional rules permitted by Puerto Rico law in identifying Highly 

Compensated Puerto Rico Employees shall be incorporated into this definition. 

(d) “Puerto Rico Employee” means an Employee who is a bona fide resident of 

Puerto Rico for purposes of Section 937 of the Code and whose compensation is 

included in gross income for purposes of Section 1031.01 of the Puerto Rico 

Code. 

Section A.04. EFFECT OF THIS ARTICLE. The following are amendments to the Plan 

which apply only to Puerto Rico Employees, as follows: 

(a) The following is added to the end of Section 1.09 of the Plan: 

“Effective for Plan Years beginning on or after April 1, 2012, for Puerto Rico 

Employees, Covered Earnings or Earnings taken into account in any Plan Year 

shall not exceed the lesser of (i) the Covered Earning or Earnings limit in the 

paragraph above, or (ii) the compensation limit under Section 1081.01(a)(12) of 

the Puerto Rico Code.” 

(b) The following is added to the end of Section 1.14 of the Plan:

“Effective for Plan Years beginning on or after April 1, 2012, for purposes of 

determining the Fund’s qualified status under Section 1081.01(a) of the Puerto 

Rico Code, the term “Employers” or “Contributing Employers” shall include all 

corporations, partnerships and other persons that pursuant to Section 

1081.01(a)(14)(A) are deemed to be the same employer.”

(c) The following new Section 11.04(c) is added to the Plan: 

AFMEPF0508
“(c) Direct Rollover Distributions For Puerto Rico Employees.

(1) The following provisions shall apply to distributions from the Plan: 

(i) If a Puerto Rico Employee or a Beneficiary of a Puerto Rico 

Employee (referred to collectively as the “distributee”) is entitled 

to a distribution under the Plan that constitutes an “eligible 

rollover distribution” as defined below, the distribution shall be 

eligible for direct rollover. 

(ii) At the written request of such distributee, and upon receipt of the 

written direction of the Trustees (or a person or committee 

designated by the Trustees), the Trustees shall make a Direct 

Rollover Distribution of the amount requested by such 

distributee in accordance with Section 1081.01(b)(2)(A) of the 

Puerto Rico Code, to an eligible retirement plan (as defined 

below). 

(iii)For purposes of this Section 11.04(c), an “eligible rollover 

distribution” is a single lump sum payment, as defined in Section 

1081.01(b)(1) of the Puerto Rico Code. 

(iv) For purposes of this Section 11.04(c), an “eligible retirement 

plan” is an individual retirement account described in Section 

1081.02(a) of the Puerto Rico Code, an individual retirement 

annuity described in Section 1081.02(b) of the Puerto Rico Code, 

or a qualified trust described in Section 1081.01(a) of the Puerto 

Rico Code that accepts direct rollovers.

(2) All Direct Rollover Distributions shall be made in accordance with 

the following: 

(i) A Direct Rollover Distribution may be divided and made only 

between two eligible retirement plans. A Direct Rollover 

Distribution may not be divided among more than two eligible 

retirement plans.

(ii) Direct Rollover Distributions shall be made in cash to the trustee 

of the eligible retirement plan, in accordance with procedures 

established by the Trustees (or a person or committee designated 

by the Trustees) to make direct rollovers under Section 

1081.01(b)(2)(A) of the Puerto Rico Code. 

(iii)Direct Rollover Distribution shall not be made unless the 

distributee furnishes the Trustees (or a person or committee 

designated by the Trustees) with such information as the Trustees 

AFMEPF0509
(or a person or committee designated by the Trustees) shall 

require and deem to be sufficient. 

(iv)Direct Rollover Distributions shall be treated as all other 

distributions under the Plan. They shall not be treated as a direct 

trustee-to-trustee transfer of Plan assets and liabilities.

(d) Effective for Plan Years commencing on or after April 1, 2012, the total annual 

benefit payable to any Puerto Rico Employee under this Plan and all other 

qualified defined benefit plans required to be aggregated with this Plan shall not 

exceed the lesser of (i) the defined benefit limitation on annual benefits provided 

in Section 5.08(b) above, or (ii) the limitations on such benefits provided under 

Section 1081.01(a)(11) of the Puerto Rico Code. 

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment Number 

One on this 11th day of Februrary, 2016. 

__/s/ Christopher Brockmeyer____ _____/s/ Raymond M. Hair, Jr.______

Christopher Brockmeyer, Co-Chair Raymond M. Hair, Jr., Co-Chair

AFMEPF0510
AMENDMENT NUMBER TWO TO THE

AMERICAN FEDERATION OF MUSICIANS AND 

EMPLOYERS’ PENSION PLAN

(As Amended and Restated Effective as of January 1, 2014) 

WHEREAS, the Board of Trustees (the “Board”) of the American Federation of 

Musicians and Employers’ Pension Fund (the “Fund”) adopted the American Federation 

of Musicians and Employers’ Pension Plan, as amended and restated effective as of 

January 1, 2014 (the “Plan”); and

WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves 

the right to amend the Plan at any time; and

WHEREAS, the Board has agreed to amend the Plan to clarify that employer 

contributions may be made on other than scale wages provided that any such 

contributions will not be taken into account in determining any benefit payable under the 

Plan; and

WHEREAS, the Board has authorized the undersigned to execute this 

Amendment Number Two to memorialize its agreement;

NOW, THEREFORE, the Plan is hereby amended as follows: 

1. Article 3 (“CONTRIBUTIONS”) of the Plan is amended by adding a new 

Section 3.04 to read as follows: 

Section 3.04 CONTRIBUTIONS ON OTHER THAN SCALE WAGES. In 

addition to the Contributions otherwise described herein, the Trust Fund may also 

accept contributions required in accordance with a collective bargaining 

agreement (or settlement of a claim under a collective bargaining agreement), 

participation agreement or similar agreement acceptable to the Trustees that 

provides for contributions to be made on a basis other than scale wages if that

agreement provides that any such contributions made on such basis will not be 

taken into account in determining any benefit payable under the Plan. Such 

AFMEPF0511
2 

contributions will not be taken into account in determining any benefit payable 

under the Plan, including without limitation, the amount of such benefit or 

whether a Participant is vested in such benefit. 

 

2. Article 11 (“MISCELLANEOUS”) of the Plan is amended by deleting the 

existing text of Sections 11.01 and 11.02 and replacing it with the following:

Section 11.01 RETURN OF CONTRIBUTIONS. In no event shall any of the 

corpus or assets of the Pension Fund revert to the Employers or be subject to any 

claims of any kind by the Employers, except that, in the sole and absolute 

discretion of the Trustees, contributions (i) made by an Employer by a mistake of 

fact or law (including any contributions mistakenly made on the basis of overscale 

wages) may be returned to such Employer within six months after the Plan 

Administrator determines that such contribution was made by such a mistake, or 

(ii) which are determined to be non-deductible for tax purposes under Code 

section 404 may be returned to such Employer within one year following the date 

of such determination. 

Section 11.02 LIMITATION OF LIABILITY. Except as otherwise provided

by law, (i) nothing in this Plan shall be construed to impose any obligation on an 

Employer to make payments to the Plan, beyond the Employer’s obligation to 

make contributions as required by any applicable collective bargaining agreement, 

participation agreement, or similar agreement acceptable to the Trustees, and 

(ii) there shall be no liability upon the Trustees, the Plan Administrator, any 

Employer, or the AFM (either individually or collectively) to provide the benefits 

established by this Plan if the Fund does not have sufficient assets to pay for such 

benefits.

IN WITNESS WHEREOF, the undersigned have executed this Amendment 

Number Two on this 16th day of February 2017. 

____/s/Christopher Brockmeyer____ ______/s/ Raymond M. Hair, Jr________ 

Christopher J.G. Brockmeyer, Co-Chair Raymond M. Hair, Jr., Co-Chair

AFMEPF0512
AMENDMENT NUMBER THREE

TO THE

AMERICAN FEDERATION OF MUSICIANS 

AND EMPLOYERS’ PENSION PLAN

(As Amended and Restated Effective as of January 1, 2014)

WHEREAS, the Board of Trustees (the “Board”) of the American Federation of 

Musicians and Employers’ Pension Fund (the “Fund”) adopted the American Federation 

of Musicians and Employers’ Pension Plan, as amended and restated effective as of 

January 1, 2014 (the “Plan”); and

WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves 

the right to amend the Plan at any time; and

WHEREAS, the Board has authorized the undersigned to execute this 

Amendment Number Three to memorialize its agreement;

NOW, THEREFORE, the Plan is hereby amended by adding a new subsection 

(h) to Article 10.04, as follows:

(h) No legal action of any sort seeking any remedy against the Plan, the Fund, the 

Trustees, or any employee or representative of the Plan or Fund may be brought 

except in the United Stated District Court for the Southern District of New York; 

if it is determined that such federal court lacks jurisdiction over the matter or for 

any other reason the matter is heard before a state court, the matter shall be 

brought in the appropriate New York State Court that resides in the district of 

such federal court.

IN WITNESS WHEREOF, the undersigned have executed this Amendment 

Number Three on this 16th day of February 2018.

_____/s/ Christopher Brockmeyer_____ _________/s/ Raymond M. Hair, Jr____

Christopher J.G. Brockmeyer, Co-Chair Raymond M. Hair, Jr., Co-Chair

AFMEPF0513
AMENDMENT NUMBER FOUR

TO THE

AMERICAN FEDERATION OF MUSICIANS 

AND EMPLOYERS’ PENSION PLAN

(As Amended and Restated Effective as of January 1, 2014)

WHEREAS, the Board of Trustees (the “Board”) of the American Federation of 

Musicians and Employers’ Pension Fund (the “Fund”) adopted the American Federation 

of Musicians and Employers’ Pension Plan, as amended and restated effective as of 

January 1, 2014 (the “Plan”); and

WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves 

the right to amend the Plan at any time; and

WHEREAS, the Board has authorized the undersigned to execute this 

Amendment Number Four to memorialize its agreement effective for claims filed on or 

after April 1, 2018 with respect to Section 10.04(f) and June 1, 2018 with respect to 

Sections 1.40 and 5.04(a);

NOW, THEREFORE, Sections 1.40, 5.04(a), and 10.4(f) of the Plan are hereby 

deleted in their entirety and replaced with the following:

1.40 TOTAL DISABILITY. The term “Total Disability” shall mean the total and 

permanent inability of an Employee, as a result of medically-diagnosed physical or 

mental disease or injury, to engage in Covered Employment for remuneration, and shall 

also mean terminal illness, as determined in the sole discretion of the Administrative 

Committee on the basis of medical and any other evidence satisfactory to the 

Administrative Committee, in accordance with Section 5.04(b).

5.04(a) Eligibility Requirements. A Participant shall be eligible to receive a Disability 

Pension Benefit if the Participant (i) ceases all Covered Employment with all 

Contributing Employers on account of Total Disability (as determined in accordance with 

subsection (b) below) (ii) is not eligible, at the time of his or her Pension Effective Date 

under Section 8.05(a), for a Regular Pension Benefit under Section 5.02 (if he or she 

retired and submitted all necessary documentation), (iii) has earned at least 1 Year of 

Vesting Service in the three calendar year period immediately preceding the Pension 

AFMEPF0514
2

Effective Date, (iv) has completed 10 Years of Vesting Service, and (v) has provided to 

the Plan Administrator a written application for such pension benefit which is complete 

in all respects on the form(s) provided by the Plan Administrator for this purpose.

10.04(f) Special Procedures for Applications for a Disability Pension Benefit.

(1) Applications for a Disability Pension Benefit shall be subject to all 

of the general rules described in Section 10.04(a)-(e), except as 

they are amended by the specific provisions in this subsection.

(2) The claimant will be notified of the initial decision on an 

application for a Disability Pension Benefit within a reasonable 

period of time, but no later than 45 days after the application is 

filed, unless additional time is required due to matters beyond the 

control of the Fund, in which case the Plan Administrator will 

notify the claimant before the end of the initial 45 days of an 

extension of 30 days or less. If this happens, the claimant shall 

receive written notification explaining the circumstances requiring 

the extension of time, the standards on which entitlement to a 

benefit is based, the unresolved issues that prevent decision on the 

claim and the additional information needed to resolve those 

issues, and the date by which the Plan expects to render a decision. 

If necessary, the Plan Administrator may notify the claimant of a 

second extension of 30 days or less, following the same procedure, 

with notification to be provided prior to the expiration of the first 

30-day period. No additional extensions may be made, except with 

the claimant’s voluntary consent. If any extension of the time for 

responding to a claimant under this Section 10.04(f) is due to the 

claimant’s failure to submit information necessary to decide the 

claim, the claimant shall be afforded at least 45 days within which 

to provide any information so requested, and the period for making 

the determination will be tolled from the date on which the 

extension notice is sent to the date on which the claimant responds 

to the request for information.

(3) For claims for a Disability Benefit that are filed after April 1, 

2018, notice to the claimant of an adverse benefit determination 

shall be provided in a culturally and linguistically appropriate 

manner and must include, in addition to information described in 

Section 10.04(b), the following:

A. The internal provisions of the Plan, if any, which were 

relied upon in making the adverse determination, or, 

alternatively, a statement that such provisions of the Plan 

do not exist;

AFMEPF0515
3

B. A discussion of the decision, including an explanation of 

the basis for disagreeing with or deciding not to follow:

(i) The views presented by the claimant to the Plan of 

health care professionals treating the claimant and 

vocational professionals who evaluated the 

claimant;

(ii) The views of medical or vocational experts whose 

advice was obtained on behalf of the Plan in 

connection with a claimant’s adverse benefit 

determination, without regard to whether the advice 

was relied upon in making the benefit 

determination; and

(iii) A disability determination regarding the claimant 

presented by the claimant to the Plan made by the 

Social Security Administration;

C. If the adverse benefit determination is based on a medical 

necessity or experimental treatment or similar exclusion or 

limit, either an explanation of the scientific or clinical 

judgment for the determination, applying the terms of the 

Plan to the claimant’s medical circumstances, or a 

statement that such explanation will be provided free of 

charge upon request;

D. The Plan will identify any medical or vocational expert 

whose advice was obtained on behalf of the Plan in 

connection with an adverse benefit determination, without 

regard to whether the advice was relied upon in making the 

benefit determination.

E. If based in whole or in part on any internal rule, guideline, 

or similar criterion, the notice to the claimant of the adverse 

decision will either set forth the internal rule, guideline, or 

similar criterion, or will state that such was relied upon and 

will be provided free of charge to the claimant upon 

request. 

F. A statement that the claimant is entitled to receive, upon 

request and free of charge, reasonable access to, and copies 

of, all documents, records, and other information relevant 

to the claimant’s claim for benefits.

AFMEPF0516
4

(4) If a claim has been denied, the deadline for the claimant to request 

review under Section 10.04(c) will be 180 days after receipt of the 

written notice of the denial.

(5) The Administrative Committee will consider the appeal de novo, 

without any deference to the initial benefit denial.

(6) The Administrative Committee will not include any person who 

participated in the initial benefit denial or who is the subordinate of 

a person who participated in the initial benefit determination.

(7) If the initial benefit denial was based in whole or in part on a 

medical judgment, the Administrative Committee will consult with 

a health care professional who has appropriate training and 

experience in the field of medicine involved in the medical 

judgment, and who was neither consulted in connection with the 

initial benefit determination nor is the subordinate of any person 

who was consulted in connection with that determination

(8) Before the Plan issues the notice of an adverse benefit 

determination on review, the Administrative Committee shall 

provide the claimant, free of charge, with any new or additional 

evidence considered, relied upon, or generated by the 

Administrative Committee or any new or additional rationale relied 

upon by the Administrative Committee. The information must be 

provided as soon as possible and sufficiently in advance of the date 

on which the notice of adverse benefit determination on review is 

required to be provided to give the claimant a reasonable 

opportunity to respond prior to that date. 

(9) The notice of an adverse determination on review must be 

provided in a manner to satisfy paragraph (f)(3) of this Section and 

Section 10.04(c). In addition, it will contain a description of any 

applicable contractual limitations period that applies to the 

claimant’s right to file the claim in court, including the date on 

which the contractual limitations period expires for the claim.

IN WITNESS WHEREOF, the undersigned have executed this Amendment 

Number Four on this 24th day of May 2018.

_____/s/ Christopher Brockmeyer_____ _______/s/ Raymond M. Hair, Jr_____

Christopher J.G. Brockmeyer, Co-Chair Raymond M. Hair, Jr., Co-Chair

AFMEPF0517
AMENDMENT NUMBER FIVE

TO THE

AMERICAN FEDERATION OF MUSICIANS 

AND EMPLOYERS’ PENSION PLAN

(As Amended and Restated Effective as of January 1, 2014)

WHEREAS, the Board of Trustees (the “Board”) of the American Federation of 

Musicians and Employers’ Pension Fund (the “Fund”) adopted the American Federation 

of Musicians and Employers’ Pension Plan, as amended and restated effective as of 

January 1, 2014 (the “Plan”); and

WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves 

the right to amend the Plan at any time; and

WHEREAS, the Board has authorized the undersigned to execute this 

Amendment Number Five to reflect the relevant portions of the 2018 Update to the 

Rehabilitation Plan, effective August 1, 2018;

NOW, THEREFORE, the Plan is amended as follows:

1. The flush language of Section 5.03 and Section 5.03(a) is hereby deleted its entirety 

and replaced with the following:

REGULAR PENSION BENEFIT AMOUNT. Except as otherwise provided elsewhere 

in this Section 5.03, in Section 5.06 (Re-determination of Pension Benefits) or in Section 

5.08 (Maximum Benefits), the amount of an eligible Participant’s Regular Pension 

Benefit shall be the Basic Monthly Amount described in subsection (a) below (plus, for 

Participants born prior to 1921, the amount of the Past-Service Benefit, if any).

(a) Basic Monthly Amount. 

(1) The Basic Monthly Amount payable to an eligible Participant age 

55 or older shall be the sum of the amounts indicated in the 

following table for each $100 of Contributions payable to the Trust

Fund on his or her behalf for Contributions earned during the 

applicable year(s) that such individual was a Participant, except for 

those disregarded under the provisions of Section 4.02. For 

AFMEPF0518
2

purposes of applying this table, total Contributions applicable to 

each time period covered by a separate column of the table shall be 

rounded separately to the nearest $100.

(2) Notwithstanding the foregoing paragraph (1), the 

Contributions used to determine the Basic Monthly Amount 

under the table set forth below shall not include the amount 

of any contribution increase required by the 2018 Update to 

the Plan’s Rehabilitation Plan or any other contributions that 

the 2018 Update to the Plan’s Rehabilitation Plan provides will not 

be used for the purposes of calculating benefits. This Section 

shall apply for purposes of the Basic Monthly Amount, any 

Disability Pension Benefit calculated pursuant to Section 

5.05 and any Re-retirement benefit and Re-determination 

benefits calculated pursuant to Section 5.06 below.

AFMEPF0519
3

BASIC MONTHLY AMOUNT PAYABLE AT AN PENSION EFFECTIVE DATE 

FOR EACH $100 OF CONTRIBUTIONS ATTRIBUTABLE TO 

CONTRIBUTIONS EARNED

Attained 

Age at 

Pension 

Effective 

Date

Before

1/1/2004

On or after 

1/1/2004 but 

before 

4/1/2007

On or after 

4/1/2007 but 

before 

5/1/2009

On or after 

5/1/2009 but 

before 

1/1/2010

On or after 

1/1/2010

65 or over $4.65 $3.50 $3.25 $2.00 $1.00

64 $4.16 $3.13 $2.91 $1.79 $0.90

63 $3.75 $2.82 $2.62 $1.61 $0.80

62 $3.36 $2.53 $2.35 $1.45 $0.72

61 $3.04 $2.29 $2.13 $1.31 $0.65

60 $2.75 $2.07 $1.92 $1.18 $0.59

59 $2.48 $1.87 $1.74 $1.07 $0.53

58 $2.26 $1.70 $1.58 $0.97 $0.49

57 $2.05 $1.54 $1.43 $0.88 $0.44

56 $1.86 $1.40 $1.30 $0.80 $0.40

55 $1.70 $1.28 $1.19 $0.73 $0.37

Notwithstanding the foregoing, the Basic Monthly Amount payable to a 

Participant who is 100% vested in both his or her Retirement Account balance (as 

described in Section 6.01) in accordance with Section 6.03(a) and in his or her 

Regular Pension Benefit in accordance with Section 4.01 shall, except for 

purposes of calculating the value of a Participant’s Retirement Account balance 

(as described in Section 6.01), be calculated as the sum of:

(3) the Basic Monthly Amount indicated in the preceding table for 

each $100 of Contributions payable to the Trust Fund on behalf of 

the Participant, except for (i) those credited to the Participant’s 

Retirement Account (in accordance with Section 6.02); (ii) those 

disregarded under the provisions of Section 4.02; (iii) those 

contributions required by the 2018 Update to the Plan’s 

Rehabilitation Plan; and (iv) any other contributions that the 2018 

AFMEPF0520
4

Update to the Plan’s Rehabilitation Plan provides will not be used 

for the purposes of calculating benefits contributions; and

(4) a monthly amount attributable to Contributions credited to the 

Participant’s Retirement Account (in accordance with Section 

6.02), computed as the Actuarial Equivalent of the lump-sum value 

of the Participant’s Retirement Account balance (as described in 

Section 6.01).

2. Section 5.03(c)(1) is hereby deleted and replaced with the following:

(1) the amount of Regular Pension Benefit calculated in accordance 

with subsection (a) of this Section taking into account all 

Contributions received through the Pension Effective Date (other 

than those disregarded in determining the Basic Monthly Amount), 

or

IN WITNESS WHEREOF, the undersigned have executed this Amendment Number 

Five on this 8th day of November 2018.

/s/ Christopher Brockmeyer__________ /s/ Raymond M. Hair, Jr. ______

Christopher J.G. Brockmeyer, Co-Chair Raymond M. Hair, Jr., Co-Chair

AFMEPF0521
Exhibit 7.06(1) 

Summary Plan Description and Summaries of Material Modifications 

AFMEPF0522
AMERICAN FEDERATION OF MUSICIANS AND 

EMPLOYERS’ PENSION PLAN

SUMMARY PLAN DESCRIPTION

2013

AFMEPF0523

Fund 
 

AFMEPF0524
I

AMERICAN FEDERATION OF MUSICIANS AND EMPLOYERS’ PENSION PLAN .................. 1 

INTRODUCTION ....................................................................................................................................... 2 

PARTICIPATION ...................................................................................................................................... 5 

 Who is Eligible to Participate ................................................................................................................. 5 

 When Participation Starts........................................................................................................................ 5 

 When Participation Ends ......................................................................................................................... 6 

VESTING .................................................................................................................................................... 7 

 Earning Vesting Service ......................................................................................................................... 7 

 Breaks in Service .................................................................................................................................... 8 

 One-Year Break in Service .............................................................................................................. 8 

 What Happens after a One-Year Break in Service .................................................................... 9 

 Permanent Break in Service ........................................................................................................... 10 

EARNING PENSION BENEFITS .......................................................................................................... 12 

 Employer Contributions ....................................................................................................................... 12 

 Types of Plan Benefits ......................................................................................................................... 13 

REGULAR PENSION BENEFIT ........................................................................................................... 14 

Eligibility for a Regular Pension Benefit ............................................................................................. 14 

 How a Regular Pension Benefit is Calculated ...................................................................................... 14 

 Estimate Your Pension Benefit ............................................................................................................ 15 

 How a Regular Pension Benefit is Paid ................................................................................................ 16 

 Cash-Out ........................................................................................................................................ 16 

 Single Life Benefit ......................................................................................................................... 16 

 50% Joint and Survivor Benefit ..................................................................................................... 17 

 75% Joint and Survivor Benefit ..................................................................................................... 19 

 Benefit Payment Forms You May Choose .................................................................................... 20 

 Changing Your Form of Benefit Payment or Joint Annuitant ....................................................... 21 

 If You Continue Working in Covered Employment After Normal Retirement Age............................ 21 

 If You Stop Working and Postpone Your Pension Benefit Beyond Normal Retirement Age – 

 Deferred Benefit Commencement ..................................................................................................... 22 

DISABILITY PENSION BENEFIT ........................................................................................................ 24 

 Eligibility for a Disability Pension Benefit .......................................................................................... 24 

 Determining Total Disability ................................................................................................................ 24 

 How a Disability Pension Benefit is Calculated ................................................................................... 24 

 How a Disability Pension Benefit is Paid ............................................................................................. 25 

 When a Disability Pension Benefit Ends .............................................................................................. 26

EARNING ADDITIONAL BENEFITS AS A PENSIONER ................................................................ 27

Additional Pension Benefit Earned Before Normal Retirement Age: 

 Re-retirement Pension Benefit .......................................................................................................... 27 

 Example of the Calculation of a Re-retirement Pension Benefit Using Method One and 

 Method Two ............................................................................................................................... 28

TABLE OF CONTENTS

AFMEPF0525
II

 How a Re-retirement Pension Benefit is Paid ................................................................................ 30 

 Additional Pension Benefits Earned After Normal Retirement Age: Re-determination Benefits ....... 30 

 How Re-determination Benefits are Paid .......................................................................................... 33 

RETIREMENT ACCOUNT BENEFIT FOR PRE-1968 CONTRIBUTIONS ................................... 34 

 Eligibility for a Retirement Account Benefit ....................................................................................... 34 

 How a Retirement Account Benefit is Calculated ................................................................................ 34 

 How a Retirement Account Benefit is Paid .......................................................................................... 34 

POST-RETIREMENT DEATH BENEFITS .......................................................................................... 35 

 When You Die ...................................................................................................................................... 35 

PRE-RETIREMENT DEATH BENEFITS ............................................................................................ 36 

 Designating the Beneficiary of Your Pre-retirement Death Benefit .................................................... 36 

 Eligibility for a Pre-retirement Death Benefit ...................................................................................... 37 

 How a Pre-retirement Death Benefit is Calculated .............................................................................. 38 

 How a Pre-retirement Death Benefit is Paid ........................................................................................ 39 

 Timing of the Pre-retirement Death Benefit ......................................................................................... 39 

OTHER INFORMATION ....................................................................................................................... 41 

 Applying for Your Pension Benefit – The Two-Part Pension Application .......................................... 41 

 Early Retirement Procedures ................................................................................................................ 44 

 Claims and Appeals – ERISA Rights ................................................................................................... 47 

 Authorized Representative ................................................................................................................... 49

 Covered Earnings Reports and Pension Credit Review Procedure ...................................................... 50 

 Pension Benefit Guaranty Corporation ................................................................................................ 50 

 How Benefits Can be Reduced, Delayed or Forfeited .......................................................................... 51

 Prohibited Assignment of Benefits ....................................................................................................... 52 

 Transferring Benefits from the Fund to an IRA or Other Employer Plan ............................................ 52 

 Qualified Domestic Relations Order (QDRO) ..................................................................................... 53 

 Compliance with Federal Law.............................................................................................................. 54 

Amendment and Termination of the Plan ............................................................................................ 54 

 Recovery of Overpayment .................................................................................................................... 54 

 Your Disclosures to the Fund ............................................................................................................... 55 

Plan Administration .............................................................................................................................. 55 

 Interpretation of the Plan ...................................................................................................................... 55 

 Website Registration Procedure ........................................................................................................... 56 

YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY 

 ACT OF 1974 (ERISA) ......................................................................................................................... 58

 Receive Information about Your Plan and Benefits ............................................................................. 58 

 Prudent Actions by Plan Fiduciaries .................................................................................................... 59 

 Enforce Your Rights ............................................................................................................................. 59

 Assistance with Your Questions ........................................................................................................... 60 

PLAN FACTS............................................................................................................................................ 61 

GLOSSARY............................................................................................................................................... 62 

APPENDIX A: PARTICIPATION, VESTING AND BREAKS IN SERVICE .................................. 67 

 Participation and Vesting Service ........................................................................................................ 67 

AFMEPF0526
III

 To Be Vested Before 1986 ................................................................................................................... 68 

 Permanent Break in Service Rules before 2004 ................................................................................... 68 

APPENDIX B: SPECIAL FEATURES OF CERTAIN BENEFITS THAT BEGAN 

 BEFORE JUNE 1, 2010 ........................................................................................................................ 69 

CONTACT INFORMATION .................................................................................................................. 70 

AFMEPF0527
1

Fund Office: 

Located at 14 Penn Plaza, 12th Floor, New York, NY 10122 

Mailing Address: P.O. Box 2673, New York, NY 10117-0262 

Pension Helpline Telephone: 212-284-1311

 800-833-8065 extension 1311 

Fax Lines: 212-284-1300

 212-284-1298 – Pension Dept. 

Website: www.afm-epf.org

AMERICAN FEDERATION OF MUSICIANS AND 

EMPLOYERS’ PENSION PLAN

AFMEPF0528
2

INTRODUCTION 

The American Federation of Musicians and Employers’ Pension Plan, or simply the Plan, is designed to 

provide you with a pension benefit for your retirement years. This pension benefit is in addition to Social 

Security and any other sources of income you may have during those years. The Plan is funded by a trust 

fund called the American Federation of Musicians and Employers’ Pension Fund, or simply the Fund.

The Fund and Plan are operated by a Board of Trustees, which consists of an equal number of Union and 

Employer representatives. Your Employer(s) makes contributions to the Fund on your behalf in 

accordance with the terms of a collective bargaining agreement, participation agreement, or other written 

agreement acceptable to the Board of Trustees. These documents are all referred to throughout this 

booklet as Collective Bargaining Agreements. 

The detailed rules and regulations of the Fund’s plan of benefits are included in a document called the 

American Federation of Musicians and Employers’ Pension Plan and other related documents, 

collectively referred to as the Plan. This booklet is known as the Summary Plan Description (SPD) for the 

Plan. It is meant to help you understand how the Plan works and the benefits it provides, but it neither 

replaces nor amends the Plan. Rights to benefits are determined only by referring to the full text of the 

Plan (available for your inspection at the Fund Office, by written request, and on the Fund’s website at 

www.afm-epf.org) or by official action of the Board of Trustees. If there is any conflict between the rules 

and regulations set forth in the Plan and the information given in this booklet, the terms of the Plan will 

control. 

In addition, the Board of Trustees reserves the right, in its sole and absolute discretion, to amend or 

terminate the Plan at any time. If the Plan is amended or terminated, the ability of any person to 

participate and receive benefits from the Plan may be modified or terminated. The Board of Trustees has 

the sole and complete authority and discretion to interpret the Plan and make final determinations 

regarding its provisions. No individual other than the Board of Trustees or its duly authorized designee(s) 

has any authority to interpret the Plan documents, including this SPD or the other official Plan 

documents, or to make any promises to you about the Plan or your benefits under the Plan, or to change 

the provisions of the Plan. 

AFMEPF0529
3

Here are some Plan highlights, which are explained in more detail later: 

 The Plan is a defined benefit multiemployer pension plan. A defined benefit plan specifies the 

benefits to which participants may become entitled. Defined benefit plans do not have individual 

participant accounts into which employer contributions are paid (although your benefit is 

calculated based on the contributions credited on your behalf). A multiemployer pension plan is a 

plan that is maintained in accordance with collective bargaining agreements between one or more 

unions and one or more employers that employ individuals represented by the union. 

 Your Employer makes all contributions to the Fund. You are neither required nor allowed to 

contribute. 

 You become an Active Participant as soon as you earn $750 from Covered Employment in a 

calendar year. 

 You become vested in your pension benefit (which means you can never lose it) generally after 

you complete five years of Vesting Service. 

 Once you’re vested, you can start to receive your pension benefit as early as age 55, if you retire 

from all Covered Employment. Special rules apply if your benefit begins to be paid before age 

65. See the Early Retirement Procedures on page 44 for details. 

 Prior to your Pension Effective Date, you will be given a choice of payment options. (If you are 

Married, special rules apply.) See page 20. 

 If you return to Covered Employment after you begin to receive your Initial Pension Benefit, you 

may be eligible for additional benefits. 

 A Disability Pension Benefit is available to eligible Participants. 

 If you die after becoming vested, but before you begin receiving a pension benefit, your Spouse 

(if you are Married) or other named Beneficiary (if you are not Married) may receive a 

Pre-retirement Death Benefit.

 If you die without having named a primary or alternate Beneficiary on the Fund’s beneficiary 

form, or if there is no Beneficiary living on your date of death, no Pre-retirement Death Benefit 

will be paid. 

This Summary Plan Description outlines provisions of the Plan as amended and restated effective as of 

June 1, 2010, and is generally applicable to pension benefits that have not yet begun to be paid as of that 

date. If you are already receiving benefits, they will generally continue under the same terms that applied 

when you first began to receive them. 

AFMEPF0530
4

We have tried to make this Summary Plan Description clear and straightforward. Some of the more 

technical terms, which are capitalized throughout, are defined in the Glossary, which begins on page 62. 

The definitions in the Glossary are summaries of the definitions in the Plan. As with all parts of this 

Summary Plan Description, if there is any conflict between the Glossary and the Plan, the terms of the 

Plan will control. If you have questions about any of the information in this booklet or would like a copy 

of the Plan, contact the Fund Office at P.O. Box 2673, New York, NY 10117-0262, the Pension Helpline 

at 212-284-1311 or 800-833-8065 extension 1311 or use “Contact Us” on the Fund’s website at 

www.afm-epf.org. 

Please note that, when you call the Fund Office, because of confidentiality and other concerns, we may 

not be able to answer all questions over the telephone. If that is the case, we will ask you to send your 

questions to the Fund Office in writing (including by email using “Contact Us” on the Fund’s website), 

and we will respond in writing. Additionally, we generally do not provide any specific information 

concerning your participation or benefits to any other person without your written consent using the 

Fund’s Authorization to Release Information form, which is available from the Fund Office or in the 

Applications and Forms section on the Fund’s website at www.afm-epf.org.

AFMEPF0531
5

PARTICIPATION 

Who Is Eligible to Participate 

You are eligible to become a Participant of the Plan if: 

 you are employed as a musician, by the Fund, the Union, or other Employer acceptable to the 

Board of Trustees, and

 your Employer has entered into a Collective Bargaining Agreement acceptable to the Board of 

Trustees requiring the Employer to contribute to the Fund on your behalf. 

If both of these conditions are met, the work for which you earn Covered Earnings under the Collective 

Bargaining Agreement will be considered to be Covered Employment. 

When Participation Starts 

Your participation starts on January 1 of the year in which you first earn at least $750 in Covered 

Earnings, also referred to as one quarter-year of Vesting Service (see page 7). You are an Active 

Participant for each calendar year during which you earn $750 or more in Covered Earnings. You will 

become an Inactive Participant in any calendar year in which you earn less than $750 in Covered 

Earnings. 

If you are an owner (or spouse of an owner) of a business (for example: self-employed, a sole proprietor, 

or a partner in a partnership that makes contributions to the Fund on behalf of its musician employees), 

your earnings as an employee of that business are not considered to be Covered Earnings unless your 

business is either a corporation or a limited liability company (“LLC”) that has provided the Fund with a 

completed “Addendum to the Participation Agreement or Collective Bargaining Agreement for Limited 

Liability Companies,” which is available on the Fund’s website at www.afm-epf.org. 

If you accumulate less than $750 in Covered Earnings during any calendar year but you perform a certain 

amount of work for your Employer (in addition to Covered Employment) for which no contributions are 

due to the Fund (non-Covered Employment) or you have a period of military service, you may be eligible 

to participate in the Plan. See Earning Vesting Service on page 7 for further information, or consult the 

Plan or contact the Fund Office for details. 

AFMEPF0532
6

The requirement for participation in the Plan was different prior to 2004. See Appendix A on page 67 for 

details. 

When Participation Ends 

Your participation in the Plan will end when you incur a Permanent Break in Service. For more 

information, see the section describing Breaks in Service beginning on page 8. 

If you return to Covered Employment, you may again become a Participant as described above. 

AFMEPF0533
7

Being vested means you have earned a non-forfeitable right to receive 

a pension benefit — even if you stop working in Covered Employment.

VESTING 

You become vested when you either: 

 complete five years of Vesting Service (as described below) including at least one-quarter year of

Vesting Service after 1986, or

 reach Normal Retirement Age while you are an Active Participant.

Normal Retirement Age is your 65th birthday or, if later, the date on which you complete five years of 

participation (not including any years of participation before a Permanent Break in Service) on or after 

April 1, 1988. 

Generally, if you stop working in Covered Employment before you are vested, you will not be entitled to 

receive a pension benefit. However, depending on your individual circumstances, you may be eligible for 

a Retirement Account Benefit (“RAB”), described on page 34. 

If you have no Vesting Service after 1986, different rules apply. See Appendix A on page 67. 

Earning Vesting Service - Effective January 1, 2004 and after

You earn Vesting Service based on your Covered Earnings in each calendar year, as follows: 

Covered Earnings in a Calendar Year Year of

At Least Less Than Vesting Service

$ 0.00 $ 750.00 0

$ 750.00 $ 1,500.00 1/4

$ 1,500.00 $ 2,250.00 1/2

$ 2,250.00 $ 3,000.00 3/4

$ 3,000.00 N/A 1

As in the case of determining eligibility to participate in the Plan, certain periods of non-Covered 

Employment and military service may be counted in determining your years of Vesting Service. If you 

work in non-Covered Employment for an Employer that is required to make contributions to the Fund 

AFMEPF0534
8

Many different Employers contribute to the Fund. As long as you are working in 

Covered Employment – even if you work for more than one Employer or change 

from one Employer to another – and have sufficient total Covered Earnings each 

calendar year, you will earn Vesting Service based on all of your Covered

Earnings. 

immediately before or after you work in Covered Employment with the same Employer, your 

non-Covered Employment may be counted for participation and vesting purposes (but it will not count for 

benefit accrual purposes). In addition, vesting service under the Canadian Plan may be combined with 

Vesting Service under this Plan in certain circumstances. However, no more than one year of Vesting 

Service will be credited to you for any single calendar year. 

If you think you are entitled to or would like details regarding Vesting Service based on periods of 

non-Covered Employment, military service, or service under the Canadian Plan contact the Fund Office. 

Vesting Service was calculated differently before 2004. See Appendix A on page 67 for details. 

Breaks in Service 

If you stop working in Covered Employment before you become vested, you may lose credit for the 

participation and Vesting Service you have already earned and the Contributions made on your behalf to 

the Fund. 

1. One-year Break in Service 

You will generally have a One-year Break in Service in any calendar year in which your Covered 

Earnings are less than $750, or $375 if you had at least three years of Vesting Service through 2003 and 

no later Permanent Break in Service. (Different rules applied before 2004. See Appendix A on page 67.) 

However, you might not have a One-year Break in Service in a calendar year in which one of the 

following occurs: 

 certain periods of military service; 

 the first year in which you had an absence from work covered under the Family and Medical 

Leave Act of 1993 (“FMLA”) or, for leaves before the FMLA became effective, an absence from 

AFMEPF0535
9

work because of pregnancy, the birth of your child, adopting a child, or caring for a newborn or 

newly adopted child; 

 a period during which vesting service is earned under the Canadian Plan; 

 certain periods of non-Covered Employment for a contributing Employer that are immediately 

before or after Covered Employment for the same Employer. 

Please contact the Fund Office for detailed information about these exceptions. 

What Happens after a One-year Break in Service 

If you have a One-year Break in Service before you become vested, your participation status will change 

to an Inactive Participant retroactive to the first day of the calendar year in which you had the One-year 

Break in Service. To be reinstated as an Active Participant in the Plan, you will have to satisfy the Plan’s 

participation rules described on page 5, that is, your participation will begin again at the start of any 

calendar year in which you have $750 in Covered Earnings, or $375 if you had at least three years of 

Vesting Service through 2003 and no later Permanent Break in Service. (Different rules applied before 

2004. See Appendix A on page 67.) When you once again become an Active Participant in the Plan, if 

you have not incurred a Permanent Break in Service (described below), any Vesting Service you earned 

before the One-year Break in Service and all contributions made on your behalf before and during the 

One-year Break will continue to be credited to you. 

Example: Your Plan participation began on January 1, 2008. You earned a year of Vesting Service in 

both 2008 and 2009 and then stopped working in Covered Employment in 2010, with $725 in Covered 

Earnings in that year, which resulted in a One-year Break in Service. In 2011, you had one engagement 

with Covered Earnings of $440 (which was not enough for your active participation to start again in 

2011) and you had no further Covered Employment until 2012, when you earned $1,625 in Covered 

Earnings. Your active participation began again as of January 1, 2012. Because you did not have a 

Permanent Break in Service (described below), your two years of Vesting Service for 2008 and 2009 

continued to be credited to you, along with all contributions that had been made on your behalf from 2008 

through 2011. 

AFMEPF0536
10

If you are not vested, you will have a Permanent Break in Service if you 

have five consecutive One-year Breaks in Service.

Year

Covered 

Earnings

Vesting 

Service in 

Years

Cumulative 

Vesting Service 

in Years Contributions

Cumulative 

Contributions

Participation 

Status

2008 $ 3,000.00 1.00 1.00 $ 240.00 $ 240.00 Active

2009 $ 6,250.00 1.00 2.00 $ 500.00 $ 740.00 Active

2010 $ 725.00

One-year

Break 2.00 $ 58.00 $ 798.00 Inactive

2011 $ 440.00

One-year

Break 2.00 $ 35.00 $ 833.00 Inactive

2012 $ 1,625.00 0.50 2.50 $ 130.00 $ 963.00 Active

2. Permanent Break in Service 

If you are not vested and have five consecutive One-year Breaks in Service, your break in service will 

become permanent. When that happens, all Vesting Service earned before your Permanent Break in 

Service and all of the contributions made on your behalf prior to the Permanent Break in Service will be 

forfeited; which means that the contributions made on your behalf before your Permanent Break in 

Service will not be used in calculating the amount of any pension benefit to which you may become 

entitled under the Plan in the future. Before 1987, different rules were in place for determining whether 

you had a Permanent Break in Service. See Appendix A on page 67. 

Example: Your Plan participation began on January 1, 2005. You earned a year of Vesting Service in 

both 2005 and 2006. You had Covered Earnings of $350 in 2007, resulting in a One-year Break in 

Service. You then had one engagement in 2008 for $350 (which is not enough for your active 

participation to start again) and no further Covered Employment until 2012. Because you had five 

consecutive One-year Breaks in Service (2007 through 2011) you have a Permanent Break in Service. As 

a result, the two years of Vesting Service for 2005 and 2006, and all contributions made on your behalf 

through 2011 are forfeited and will not be used in calculating the amount of any pension benefit to which 

you may become entitled under the Plan in the future. 

EXAMPLE OF A ONE-YEAR BREAK IN SERVICE

AFMEPF0537
11

If you stop working in Covered 

Employment after you become vested, 

you do not lose credit for Vesting Service 

or for the contributions made on your 

behalf.

Year

Covered 

Earnings

Vesting

Service in 

Years

Cumulative 

Vesting 

Service in 

Years Contributions

Cumulative 

Contributions

Participation 

Status

2005 $ 2,000.00 0.50 0.50 $ 100.00 $ 100.00 Active

2006 $ 6,250.00 1.00 1.50 $ 312.00 $ 412.00 Active

2007 $ 350.00 One-year Break 1.50 $ 18.00 $ 430.00 Inactive

2008 $ 350.00 One-year Break 1.50 $ 18.00 $ 448.00 Inactive

2009 $ 0.00 One-year Break 1.50 $ 0.00 $ 448.00 Inactive

2010 $ 0.00 One-year Break 1.50 $ 0.00 $ 448.00 Inactive

2011 $ 0.00 One-year Break

0.00

Permanent 

Break in 

Service $ 0.00 $ 0.00 Employee

2012 $ 790.00 0.25 0.25 $ 40.00 $ 40.00 Active

 

EXAMPLE OF A PERMANENT BREAK IN SERVICE

AFMEPF0538
12

Plan Participants are neither required nor allowed to make contributions to the Fund on 

their own behalf. There are no “refunds” to Participants (or their beneficiaries) of any 

amounts contributed to the Fund on their behalf.

EARNING PENSION BENEFITS 

You earn pension benefits based on the total amount of contributions credited on your behalf by your 

Employer or Employers. 

Employer Contributions 

Contributions to the Fund on your behalf are calculated as a percentage of the Covered Earnings you 

receive from your Employer. Both the contribution percentage rate and your Covered Earnings are 

established under the applicable Collective Bargaining Agreement. Contributions credited on your behalf 

may be based only on scale wages as defined in the Collective Bargaining Agreement. A special rule 

applies for purposes of crediting contributions consisting of tax-relief monies that are made on behalf of 

musicians working on Broadway productions in accordance with the arbitration award of Burton Turkus, 

dated April 26, 1963. Under this special rule, tax-relief monies for any particular calendar quarter are 

generally allocated proportionally among musicians working on Broadway productions based on their 

scale wages for all Broadway productions reported to the Fund that quarter. 

Contributions are generally considered to be earned on the date on which you performed the Covered 

Employment for which those Covered Earnings were due. Contributions on wages for “new use” or “reuse” are generally considered to be earned on the date that the new use or re-use occurred. Contributions 

on Covered Earnings that are paid in a manner other than in the normal course of business (e.g., under a 

settlement agreement) are generally considered to be earned on the date the Covered Earnings are paid. 

If your Employer fails to make the required contributions to the Fund (and in certain other cases), the 

Board of Trustees has the right to terminate your Employer’s participation in the Fund. In such a case, no 

future contributions would be accepted from that Employer on your behalf, and your benefits will be 

based only on contributions required on Covered Earnings paid to you before the termination date of your 

Employer’s participation in the Fund.

AFMEPF0539
13

Types of Plan Benefits 

The Plan provides six types of benefits: 

 Regular Pension Benefit, which provide benefits as early as age 55 to eligible Participants; 

 Disability Pension Benefit, which provide benefits to eligible Participants who cease Covered 

Employment due to a Total Disability; 

 Additional pension benefits if you return to Covered Employment after your Regular Pension 

Benefit or Disability Pension Benefit (both of which are sometimes referred to as your Initial 

Pension Benefit) begins. There are two different types of additional pension benefits: 

Re-retirement Pension Benefit, which is earned from your Initial Pension Effective Date through 

age 65, and Re-determination Benefits, which are earned after your Normal Retirement Age –

usually age 65; 

 Retirement Account Benefit (RAB), which may be available to eligible Participants who had 

Covered Earnings prior to 1968; 

 Post-retirement Death Benefits, which may provide benefits to your Spouse or other Beneficiary 

after your death, depending on the form of benefit payment in effect; and 

 Pre-retirement Death Benefits, which may provide benefits to your Spouse or other Beneficiary, 

if you are vested and die before commencing your Initial Pension Benefit or Re-retirement 

Pension Benefit. 

The type of benefit or benefits that you or your Spouse or other Beneficiary may receive depends on your 

individual circumstances. 

AFMEPF0540
14

REGULAR PENSION BENEFIT 

You earn a Regular Pension Benefit based on contributions credited on your behalf until your Initial 

Pension Effective Date. 

Eligibility for a Regular Pension Benefit 

You become eligible to receive a Regular Pension Benefit when you file a complete Pension Application 

(see Applying for Your Pension Benefit – The Two-Part Pension Application on page 41) with the Fund 

Office and meet either of the following requirements: 

 You reach your Normal Retirement Age (generally age 65) while you are still an Active 

Participant; or

 You reach age 55, are vested, and retire from all Covered Employment. 

How a Regular Pension Benefit is Calculated 

A Regular Pension Benefit is based on three factors: 

 the total of all contributions credited on your behalf in each Benefit Period; 

 your age determined on the first of the month following your last birthday; and 

 the form of benefit payment that you elect. 

Generally, a Regular Pension Benefit is calculated by (i) multiplying each $100 of vested contributions 

for each Benefit Period described in the table below (rounded to the nearest $100) by a specific dollar 

amount based on your age on your Pension Effective Date, known as a Benefit Multiplier, which 

produces a monthly benefit amount for each Benefit Period, and (ii) adding the benefit amounts for each 

Benefit Period. The Benefit Multiplier has changed over time. The chart below shows the most recent 

schedules of Benefit Multipliers for each Benefit Period. 

Monthly payments under the Single Life Benefit form of benefit payment are calculated in accordance 

with the following table: 

AFMEPF0541
15

Benefit Multipliers by Benefit Period and Age at Pension Effective Date

payable as a Single Life Benefit

Age at 

Pension 

Effective 

Date

Contributions 

Earned

Through 

December 31, 

2003

Contributions 

Earned From 

January 1, 2004 

Through March 

31, 2007

Contributions 

Earned From 

April 1, 2007 

Through April 

30, 2009

Contributions 

Earned From 

May 1, 2009 

Through 

December 31, 

2009

Contributions 

Earned on and 

after January 1, 

2010

Benefit Period A Benefit Period B Benefit Period C Benefit Period D Benefit Period E

65 or older $ 4.65 $ 3.50 $ 3.25 $ 2.00 $ 1.00

64 $ 4.16 $ 3.13 $ 2.91 $ 1.79 $ 0.90

63 $ 3.75 $ 2.82 $ 2.62 $ 1.61 $ 0.80

62 $ 3.36 $ 2.53 $ 2.35 $ 1.45 $ 0.72

61 $ 3.04 $ 2.29 $ 2.13 $ 1.31 $ 0.65

60 $ 2.75 $ 2.07 $ 1.92 $ 1.18 $ 0.59

59 $ 2.48 $ 1.87 $ 1.74 $ 1.07 $ 0.53

58 $ 2.26 $ 1.70 $ 1.58 $ 0.97 $ 0.49

57 $ 2.05 $ 1.54 $ 1.43 $ 0.88 $ 0.44

56 $ 1.86 $ 1.40 $ 1.30 $ 0.80 $ 0.40

55 $ 1.70 $ 1.28 $ 1.19 $ 0.73 $ 0.37

The Internal Revenue Service has established certain dollar limits on the Covered Earnings that can be 

used in calculating pension benefits, and certain limits on the maximum annual benefit that can be paid to 

a Participant each year. These limits will not increase above the levels set by the Internal Revenue 

Service in 2010. The annual dollar limit on the Covered Earnings that may be used in calculating pension 

benefits is $245,000 from each Employer. Generally, the maximum annual benefit that can be paid to you 

each year is $195,000. Consult the Plan or contact the Fund Office for more details. 

Examples showing hypothetical monthly benefits payable as a Single Life Benefit, a 50% Joint and 

Survivor Benefit and a 75% Joint and Survivor Benefit begin on page 16. 

Estimate Your Pension Benefit 

For your convenience, a Pension Estimator is available to Participants who are registered on the Fund’s 

website at www.afm-epf.org. See page 56 for the website registration procedure. You can also make a 

written request for an estimate to the Fund Office. The estimated pension benefit generated by the 

Estimator or the Fund Office could change between when you receive the estimate and your Pension 

Effective Date or death if changes are made to the Plan. 

AFMEPF0542
16

The purpose of actuarial equivalence is to “make equal” monthly benefits or forms of 

payment that are paid at different ages using interest and mortality rates defined in the 

Plan. Different benefit forms (such as Cash-out and Single Life Benefit) are frequently 

described as having an “actuarial equivalent value,” or an amount payable in one form is 

described as being the “actuarial equivalent value” of an amount payable in a different 

form. If a benefit is actuarially adjusted, it is done so to equalize the value of the 

payments over the recipient’s lifetime. For example, if you retire before Normal 

Retirement Age, your benefit would be actuarially decreased since payments are 

expected for a longer period of time. Similarly, if you retire after Normal Retirement 

Age, your benefit will be actuarially increased since payments are expected for a shorter

period.

How a Regular Pension Benefit is Paid 

Your Regular Pension Benefit may be paid in any of the following ways: 

1. Cash-out

If the actuarial equivalent lump-sum value of all pension benefits expected to be paid to you over your 

lifetime (including, if applicable, the actuarial equivalent lump-sum value of your Retirement Account 

Benefit as described on page 34) is $5,000 or less at your Pension Effective Date, your Regular Pension 

Benefit will be payable to you only in the form of a lump sum Cash-out and the Single Life Benefit and 

Joint and Survivor forms of benefit described below will not apply. The Fund Office will notify you if 

your benefit will be paid as a Cash-out after you complete your application for your pension benefit. 

2. Single Life Benefit 

The Single Life Benefit provides monthly payments for as long as you live with no continuing payments 

after your death. If you are not Married at your Pension Effective Date, the normal form of pension 

benefit payment is the Single Life Benefit. 

Prior to June 1, 2010, the Single Life Benefit included a guaranteed amount feature. The pre-June 1, 2010 

rules continue to apply if the Participant’s Pension Effective Date was prior to June 1, 2010, and his or 

her pension benefit is based, at least in part, on contributions earned prior to January 1, 2004. See 

Appendix B on page 69. 

AFMEPF0543
17

Example 1: George begins to receive his pension in October 2012 at age 62. His monthly pension 

benefit paid in the form of a Single Life Benefit is $643.94, calculated by adding the benefits earned 

during each Benefit Period. He will receive this pension benefit each month for his lifetime. Benefits will 

end at his death. 

Benefit 

Period

Total 

Contributions

Contributions (rounded 

to the nearest 100)/100

X age 62 Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

A $ 9,240.00 92 $ 3.36 $ 309.12

B $ 4,190.00 42 $ 2.53 $ 106.26

C $ 6,800.00 68 $ 2.35 $ 159.80

D $ 3,649.00 36 $ 1.45 $ 52.20

E $ 2,250.00 23 $ 0.72 $ 16.56

Total benefit $ 643.94

Example 2: John begins to receive his pension in December 2012 at age 58. His monthly pension 

benefit paid in the form of a Single Life Benefit is $120.91, calculated by adding the benefits earned 

during each Benefit Period. He will receive this pension benefit each month for his lifetime. Benefits will 

end at his death. 

Benefit 

Period

Total 

Contributions

Contributions (rounded 

to the nearest 100)/100

X age 58 Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

A $ 1,225.00 12 $ 2.26 $ 27.12

B $ 1,984.00 20 $ 1.70 $ 34.00

C $ 1,214.00 12 $ 1.58 $ 18.96

D $ 3,335.00 33 $ 0.97 $ 32.01

E $ 1,762.00 18 $ 0.49 $ 8.82

Total benefit $ 120.91

See chart on page 15 for Benefit Multipliers by Benefit Period. 

3. The 50% Joint and Survivor Benefit 

The 50% Joint and Survivor Benefit provides monthly pension benefits to you for your lifetime and, if 

your Joint Annuitant is still living when you die, monthly survivor benefits to your Joint Annuitant for his 

or her lifetime equal to 50% of your monthly benefit. If you are Married at your Pension Effective Date, 

the normal form of payment is a 50% Joint and Survivor Benefit, with your Spouse as the Joint 

Annuitant. Under a 50% Joint and Survivor Benefit, your monthly payments are lower than under a 

Single Life Benefit because the payment period is expected to extend over two lifetimes – yours and your 

Joint Annuitant’s. If your Joint Annuitant survives you (even if your Joint Annuitant is your Spouse and 

AFMEPF0544
18

you get divorced after your Pension Effective Date), he or she will receive a survivor benefit equal to 

50% of your monthly benefit for the rest of his or her life. If your Joint Annuitant dies before you do, 

your monthly payments will not change and, after you die, no further benefits will be paid. The amount of 

your monthly Regular Pension Benefit as a 50% Joint and Survivor Benefit depends on the age difference 

between you and your Joint Annuitant. The table below shows the percentage reductions for up to a 

10-year difference in age:

50% Joint and Survivor Benefit as a Percentage of a Single Life 

Benefit

Full Years Difference in Age

If You Are Older than Your Joint 

Annuitant

If You Are Younger than Your 

Joint Annuitant

0 93.2%

1 92.7% 93.7%

2 92.2% 94.2%

3 91.7% 94.7%

4 91.2% 95.2%

5 90.7% 95.7%

6 90.2% 96.2%

7 89.7% 96.7%

8 89.2% 97.2%

9 88.7% 97.7%

10 88.2% 98.2%

The factor cannot be greater than 99% 

If the age difference between you and your Joint Annuitant is greater than 10 years, contact the Fund 

Office. 

Example: Don begins to receive his Initial Pension Benefit on December 1, 2012 at age 55. His Spouse 

and Joint Annuitant is 2 years younger than Don. Don’s monthly benefit paid in the form of a 50% Joint 

and Survivor Benefit is $751.35, calculated by adding the benefits earned during each Benefit Period and 

reduced by the 50% Joint and Survivor Benefit reduction factor as follows: 

Benefit 

Period

Total 

Contributions

Contributions 

(rounded to 

the nearest 

100)/100

X age 55 

Benefit 

Multiplier

Pension Benefit as 

a Single Life 

Benefit

Pension Benefit as 

a 50% Joint & 

Survivor Benefit

(92.2% of Single 

Life Benefit)

A $ 40,217.00 402 $ 1.70 $ 683.40 $ 630.09

B $ 5,290.00 53 $ 1.28 $ 67.84 $ 62.55

C $ 3,538.00 35 $ 1.19 $ 41.65 $ 38.40

D $ 1,736.00 17 $ 0.73 $ 12.41 $ 11.44

E $ 2,555.00 26 $ 0.37 $ 9.62 $ 8.87

Total benefit $ 814.92 $ 751.35

AFMEPF0545
19

If Don dies before his Spouse, she will receive monthly payments of $375.68 ($751.35 x 50%) for the rest 

of her life. If his Spouse dies before Don, Don’s monthly payments will not change and, after he dies, no 

further benefits will be paid. 

Prior to June 1, 2010, the 50% Joint and Survivor Benefit included a Pop-up Feature and a 60-month 

guarantee. The pre-June 1, 2010 rules continue to apply if the Participant’s Pension Effective Date was 

prior to June 1, 2010, and his or her pension benefit is based, at least in part, on contributions earned prior 

to January 1, 2004. See Appendix B on page 69 for details. 

4. The 75 % Joint and Survivor Benefit 

Under a 75% Joint and Survivor Benefit, monthly payments to you are lower than under a Single Life 

Benefit because the payment period is expected to extend over two lifetimes – yours and your surviving 

Joint Annuitant’s. Your monthly payments under a 75% Joint and Survivor Benefit are also lower than 

under a 50% Joint and Survivor Benefit because your Joint Annuitant will receive a larger percent of your 

monthly payments after your death. If your Joint Annuitant survives you (even if your Joint Annuitant is 

your Spouse and you get divorced after your Pension Effective Date), he or she will receive a survivor 

benefit equal to 75% of your monthly benefit for the rest of his or her life. If your Joint Annuitant dies 

before you do, your monthly payments will not change and, after you die, no further benefits will be paid. 

The amount of your monthly Regular Pension Benefit as a 75% Joint and Survivor Benefit depends on the 

age difference between you and your Joint Annuitant. The table below shows the percentage reductions 

for up to a 10-year difference in age: 

75% Joint and Survivor Benefit as a Percentage of Single Life 

Benefit

Full Years Difference in Age

If You Are Older than Your Joint 

Annuitant

If You Are Younger than Your 

Joint Annuitant

0 90.2%

1 89.6% 90.8%

2 89.0% 91.4%

3 88.4% 92.0%

4 87.8% 92.6%

5 87.2% 93.2%

6 86.6% 93.8%

7 86.0% 94.4%

8 85.4% 95.0%

9 84.8% 95.6%

10 84.2% 96.2%

The factor cannot be greater than 99% 

AFMEPF0546
20

If the age difference between you and your Joint Annuitant is greater than 10 years, contact the Fund 

Office. 

If your Joint Annuitant is not your Spouse, the 75% Joint and Survivor Benefit is available only if the age 

difference between you and your non-spouse Joint Annuitant is 19 years or less. 

Example: Jenny begins to receive her Initial Pension Benefit on May 1, 2012 at age 64. Her non-Spouse 

Joint Annuitant is 6 years younger than Jenny. Jenny’s monthly pension benefit paid in the form of a 

75% Joint and Survivor Benefit is $2,213.96, calculated by adding the benefits earned during each Benefit 

Period and reduced by the 75% Joint and Survivor Benefit reduction factor as follows: 

Benefit 

Period

Total 

Contributions

Contributions 

(rounded to the 

nearest 

100)/100

X age 64 

Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

Pension Benefit as 

a 75% Joint & 

Survivor Benefit

(86.6% of Single 

Life Benefit)

A $ 50,523.00 505 $ 4.16 $ 2,100.80 $ 1,819.29

B $ 6,966.00 70 $ 3.13 $ 219.10 $ 189.74

C $ 4,035.00 40 $ 2.91 $ 116.40 $ 100.80

D $ 3,566.00 36 $ 1.79 $ 64.44 $ 55.81

E $ 6,198.00 62 $ 0.90 $ 55.80 $ 48.32

Total Benefit $ 2,556.54 $ 2,213.96

If Jenny dies before her Joint Annuitant, her Joint Annuitant will receive monthly payments of $1,660.47 

($2,213.96 x 75%) for the rest of his or her life. If her Joint Annuitant dies before Jenny, Jenny’s 

monthly payments will not change and, after she dies, no further benefits will be paid. 

5. Benefit Payment Forms You May Choose 

 If You Are Not Married at Your Pension Effective Date 

Instead of a Single Life Benefit (the normal payment form), you may choose to receive a 50% 

Joint and Survivor Benefit with a Joint Annuitant of your choice (as described on page 17), or 

you may chose a 75% Joint and Survivor Benefit with a Joint Annuitant of your choice (described 

on page 19). 

 If You Are Married at Your Pension Effective Date 

You may choose a benefit payment form other than the 50% or 75% Joint and Survivor Benefit 

with your Spouse as the Joint Annuitant only with your Spouse’s written consent. The other 

AFMEPF0547
21

choices are the Single Life Benefit (see page 16), or a 50% or 75% Joint and Survivor Benefit 

(see page 17 and 19) with someone other than your Spouse as your Joint Annuitant. 

The Fund Office will supply you with a spousal consent form along with a written explanation of 

these alternative payment forms, and the consequences of rejecting the 50% Joint and Survivor 

Benefit with your Spouse as the Joint Annuitant. Your Pension Effective Date may not be later 

than 180 days after the Fund Office sends you this information. 

The joint and survivor benefit percentage reductions, which are based on the age difference between you 

and your Joint Annuitant, will apply to the 50% Joint and Survivor Benefit and the 75% Joint and 

Survivor Benefit. The percentage reductions for the 50% Joint and Survivor Benefit are in the chart on 

page 18, and the percentage reductions for the 75% Joint and Survivor Benefit are in the chart on page 19. 

6. Changing Your Form of Benefit Payment or Joint Annuitant 

 Before the Pension Effective Date 

You may select a form of benefit other than the normal form of benefit (or change a form of 

benefit that you have already elected) only during the 180 days before your Pension Effective 

Date. If you are Married, you may select a form of benefit other than the 50% or 75% Joint and 

Survivor Benefit with your Spouse as your Joint Annuitant only if your Spouse consents to the 

form of benefit and Joint Annuitant being selected on a form provided by the Fund Office. 

Once you select a form of benefit payment, you may change your Joint Annuitant or the form of 

benefit payment before your Pension Effective Date (with additional spousal consent if 

applicable, unless the change is back to a 50% or 75% Joint and Survivor Benefit with your 

Spouse as the Joint Annuitant). 

 After the Pension Effective Date 

The Joint Annuitant, Beneficiary, and/or the form of benefit payment you have elected cannot be 

changed. 

If You Continue Working in Covered Employment after Normal Retirement Age 

If you are still working in Covered Employment when you reach your Normal Retirement Age (generally 

age 65), you may choose to begin your Regular Pension Benefit and continue working, or postpone 

AFMEPF0548
22

Your pension benefits are completely separate from your Social Security benefit.

You must start receiving benefits no later than April 1 following the calendar year in which you reach age 

70-1/2, whether or not you are still working in Covered Employment. If you do not apply for your 

pension before that date, you will automatically begin to receive your pension benefit on that date. If you 

do not start receiving your pension benefit by that date, you may be subject to substantial tax penalties 

imposed by the Internal Revenue Service.

commencement of your pension benefit to a later date. Either way, you will continue to be credited with 

additional contributions made on your behalf. 

 If you begin to receive your pension benefit at Normal Retirement Age and continue working in 

Covered Employment, any additional benefit that you may earn after your Initial Pension Benefit 

Effective Date will be added to your monthly benefit. Any additional benefits will be calculated 

in the same way as Re-determination Benefits, which are explained on page 30. 

 If you choose to postpone commencement of your pension benefit until after your Normal 

Retirement Age, your Regular Pension Benefit amount will be actuarially increased for delayed 

commencement of benefit payments. See explanation and examples below. 

If You Stop Working and Postpone Your Pension Benefit Beyond Normal Retirement Age 

– Deferred Benefit Commencement 

If you stop working in Covered Employment at or before you reach your Normal Retirement Age, but 

begin your pension after you reach your Normal Retirement Age, your monthly pension benefit will be 

actuarially increased to account for the shorter period of time over which it is expected that you will 

receive payments. The Plan uses factors (i.e., interest and mortality assumptions) to make this adjustment 

resulting in a benefit that is the actuarially equivalent of the benefit that would have been payable at 

Normal Retirement Age. No retroactive payments will be made for the months between your Normal 

Retirement Age and your Pension Effective Date. 

If you would like an estimate of a deferred pension benefit, please contact the Fund Office. 

AFMEPF0549
23

Example 1: Louis begins to receive his pension benefit on June 1, 2012 at age 66 and 3 months. His age 

65 monthly benefit is $994.95. Because he is age 66 and 3 months at his Pension Effective Date, his 

monthly benefit is adjusted to $1,109.37 to account for the fact that his benefit did not begin to be paid at 

Normal Retirement Age. His benefit is calculated as follows: 

Benefit 

Period Total Contributions

Contributions (rounded to 

the nearest 100)/100

X age 65 Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

A $ 18,301.00 183 $ 4.65 $ 850.95

B $ 2,519.00 25 $ 3.50 $ 87.50

C $ 1,365.00 14 $ 3.25 $ 45.50

D $ 255.00 3 $ 2.00 $ 6.00

E $ 546.00 5 $ 1.00 $ 5.00

Benefit at Normal Retirement Age (age 65) $ 994.95

Plus 11.50% actuarial adjustment for deferred benefit commencement X 1.115*

Benefit as a Single Life Benefit $ 1,109.37

Example 2: Audrey begins to receive her pension on January 1, 2013 at age 68 and 5 months. Her age 65 

monthly benefit is $3,639.50. Because she is age 68 and 5 months at her Pension Effective Date her 

benefit is adjusted to $4,913.33 to account for the fact that her benefit did not begin to be paid at Normal 

Retirement Age. Her benefit is calculated as follows: 

Benefit 

Period Total Contributions

Contributions (rounded to 

the nearest 100)/100

X age 65 Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

A $ 47,952.00 480 $ 4.65 $ 2,232.00

B $ 23,026.00 230 $ 3.50 $ 805.00

C $ 13,047.00 130 $ 3.25 $ 422.50

D $ 5,959.00 60 $ 2.00 $ 120.00

E $ 6,045.00 60 $ 1.00 $ 60.00

Benefit at Normal Retirement Age (age 65) $ 3,639.50

Plus 35% actuarial adjustment for deferred benefit commencement X 1.35*

Benefit as a Single Life Benefit $ 4,913.33

*These factors are in effect for a deferred pension benefit with a Pension Effective Date on 

and after May 1, 2010. 

AFMEPF0550
24 

DISABILITY PENSION BENEFIT 

If you are unable to continue work in Covered Employment because of a disability, you may be eligible 

for a Disability Pension Benefit. 

Eligibility for a Disability Pension Benefit

Additional eligibility requirements effective June 1, 2018 - see Summary of Material 

Modifications dated May 31, 2018 attached.

You are eligible for a Disability Pension Benefit if you meet all of the following requirements and you 

file a complete application with the Fund Office: 

 You stop working in Covered Employment because of a condition of Total Disability;

 You have at least 10 years of Vesting Service;

 You have not started to receive a Regular Pension Benefit; and

 You are determined to have a Total Disability by the Administrative Committee of the Board of

Trustees.

Determining Total Disability 

Total Disability is the total and permanent inability to work in Covered Employment as a result of a 

medically diagnosed physical or mental disease or injury, as determined by the Administrative Committee 

in its sole discretion. The Administrative Committee may rely on a Social Security disability award or on 

the statement of a physician, and may also arrange medical examinations or re-examinations at its 

discretion with a physician of its choice, both before and after approving a Disability Pension Benefit (but 

not more than once a year). 

How a Disability Pension Benefit is Calculated 

Your monthly Disability Pension Benefit will be calculated using the same method as a Regular Pension 

Benefit. If you are younger than age 65 at your Disability Pension Effective Date, your benefit will be 

actuarially reduced to your age at your Disability Pension Effective Date to reflect the expectation that, 

because your benefit is starting before age 65, it will be paid for a longer period of time. See page 14 for 

calculation details. 

AFMEPF0551
25

How a Disability Pension Benefit is Paid 

A Disability Pension Benefit is paid in the same forms and subject to the same rules as a Regular Pension 

Benefit, as discussed on pages 16 - 21, except that the reduction for the 50% Joint and Survivor Benefit 

or 75% Joint and Survivor Benefit form of benefit payment is calculated differently. 

The table below shows the percentage reductions in the Disability Pension Benefit paid as a 50% Joint 

and Survivor Benefit from the Single Life Benefit form of benefit payment for up to a 10-year difference 

in age between you and your Joint Annuitant: 

50% Joint and Survivor Benefit as a Percentage of Single Life 

Benefit

Full Years Difference in Age

If You Are Older than Your Joint 

Annuitant

If You Are Younger than Your 

Joint Annuitant

0 89.6%

1 89.2% 90.0%

2 88.8% 90.4%

3 88.4% 90.8%

4 88.0% 91.2%

5 87.6% 91.6%

6 87.2% 92.0%

7 86.8% 92.4%

8 86.4% 92.8%

9 86.0% 93.2%

10 85.6% 93.6%

The factor cannot be greater than 99% 

If the age difference between you and your Joint Annuitant is greater than 10 years, contact the Fund 

Office. 

The following table shows the percentage reductions in the Disability Pension Benefit paid as a 75% Joint 

and Survivor Benefit from the Single Life Benefit form of benefit payment for up to a 10-year difference 

in age between you and your Joint Annuitant: 

AFMEPF0552
26

75% Joint and Survivor Benefit as a Percentage of Single

Life Benefit

Full Years Difference in Age

If You Are Older than Your Joint 

Annuitant

If You Are Younger than Your 

Joint Annuitant

0 84.5%

1 84.0% 85.0%

2 83.5% 85.5%

3 83.0% 86.0%

4 82.5% 86.5%

5 82.0% 87.0%

6 81.5% 87.5%

7 81.0% 88.0%

8 80.5% 88.5%

9 80.0% 89.0%

10 79.5% 89.5%

The factor cannot be greater than 99% 

As noted on page 20, you cannot select a 75% Joint and Survivor Benefit with a non-spouse Joint 

Annuitant more than 19 years younger than you. 

If the age difference between you and your Joint Annuitant is greater than 10 years, contact the Fund 

Office. 

When a Disability Pension Benefit Ends 

Your monthly Disability Pension Benefit payments will end if: 

 you earn more than $15,000 of Covered Earnings in a calendar year before you reach Normal 

Retirement Age; or 

 the Administrative Committee determines that you no longer have a Total Disability, or you fail 

to comply with a request by the Administrative Committee that you undergo a medical 

examination or provide other evidence to confirm the continuation of your Total Disability. 

If either of these two events occurs, your disability payments will stop as soon as administratively 

practical. No further benefits will be paid until you become eligible and apply for a Regular Pension 

Benefit, or you prove to the Administrative Committee that you still have a condition of Total Disability 

or that you have become Totally Disabled again and re-apply for a Disability Pension Benefit. 

AFMEPF0553
27

EARNING ADDITIONAL BENEFITS AS A PENSIONER

If you retire and begin to receive monthly pension benefits, you will continue to receive your Initial 

Pension Benefit even if you later have additional contributions made to the Fund for additional Covered 

Employment or for the new use or re-use of previously recorded work. In this case, you will also earn 

additional pension benefits whenever you have $50 or more of additional contributions in a calendar year. 

The amount of your additional pension benefits and when they will be paid depend on your age as 

discussed below. 

1. Additional Pension Benefits Earned Before Normal Retirement Age: 

Re-retirement Pension Benefit 

If your Initial Pension Benefit began before age 65 and you earn $50 or more of contributions in at least 

one calendar year between your Initial Pension Benefit Effective Date and your 65th birthday, a benefit 

based on contributions made on your behalf during that period may be paid as of the first of the month 

after your 65th birthday. This benefit is called a Re-retirement Pension Benefit. 

The amount of the Re-retirement Pension Benefit is generally determined by comparing the results of two 

different calculation methods. You will receive whichever amount is greater. 

(If your Initial Pension Benefit is a Disability Pension Benefit that began after March 1, 2004, your 

Re-retirement Pension Benefit is calculated for each year in which you earned $50 or more in 

contributions [rounded to the nearest $100] multiplied by the age 65 Benefit Multiplier in effect for each 

applicable year.) 

Under Method 1, the Re-retirement Pension Benefit amount is: (i) the total pension benefit calculated as 

if you had not started receiving an Initial Pension Benefit, (ii) less the actuarial equivalent value of the 

pension benefits that you already received, (iii) minus the Initial Pension Benefit being paid. This 

calculation is performed separately for each Benefit Period. See the Benefit Multiplier chart on page 15. 

Under Method 2, the Re-retirement Pension Benefit is the sum of all of the annual benefits payable under 

the rules that were in effect before Method 1 became effective in 1996; that is, the additional monthly 

benefits that would have begun each July 1 beginning on the July 1 following the Initial Pension Effective 

AFMEPF0554
28

Date through the July 1 immediately before your 65th birthday, based on contributions of $50 or more 

(rounded to the nearest $100) earned during the prior calendar year and the following table: 

Age as of July 1 Per $100 of contributions in the prior calendar year

55 $ 0.83

56 $ 0.86

57 $ 0.87

58 $ 0.89

59 $ 0.90

60 $ 0.92

61 $ 0.95

62 $ 0.97

63 $ 0.99

64 $ 1.02

65 or over The Benefit Multiplier for a Participant age 65 or over for 

the Benefit Period and calendar year in which the 

Contributions were earned.

The benefit calculated under Method 2 was frozen as of May 31, 2010; accordingly, all Re-retirement 

Pension Benefits will be calculated as the greater of (i) the benefit calculated under Method 1, or (ii) the 

benefit calculated under Method 2 for Covered Employment through May 31, 2010 only. 

Example of the Calculation of a Re-retirement Pension Benefit Using Method One and 

Method Two: 

Your Initial Pension Effective Date was January 1, 2007 at age 59. Your monthly pension benefit is based 

on $15,875 of contributions for Covered Employment before 2004 (Benefit Period A) and $2,025 of 

contributions for Covered Employment between 2004 and 2006 (Benefit Period B) resulting in a monthly 

pension benefit of $584.36 (($15,875 ÷ 100) x $3.44 = $546.96) + ($2,025 ÷ 100) x $1.87 = $37.40)). 

You return to work in Covered Employment in May 2007 and earn $5,940 in contributions for Covered 

Employment from May 2007 through April 2009 (Benefit Period C), $495 in contributions for Covered 

Employment from May 2009 through December 2009 (“Benefit Period D”), and $802 in contributions for 

Covered Employment from January 2012 through June 30, 2012 (“Benefit Period E”). When you turn 65 

on June 24, 2012, you are eligible for a Re-retirement Pension Benefit on July 1, 2012. 

AFMEPF0555
29

Re-retirement Calculation Method One

Benefit Periods

A B C D E Total

Your hypothetical age-65 

benefit using all contributions 

made on your behalf

($15,875 ÷ 100)

x $4.65 = $739.35

($2,025 ÷ 100) 

x $3.50 = $70.00

($5,940 ÷ 100)

x $3.25 = $191.75

($495 ÷ 100)

x $2.00 = $10.00

($802 ÷ 100)

x $1.00 = $8.00

$ 1,019.10

LESS the monthly actuarial 

equivalent values of the total 

benefits you have received

-$246.12

($546.96 x 66 

months = 

$36,099.36* ÷ 

146.6736**)

-$15.04

($37.40 x 66 

months =

$2,468.40* ÷

164.1048**)

$ 0.00 $ 0.00 $ 0.00 -$ 261.16

LESS the monthly pension 

benefit you are receiving at 

age 65

-$ 546.96 -$ 37.40 $ 0.00 $ 0.00 $ 0.00 -$ 584.36

Method One Re-retirement 

Pension Benefit

-$ 53.73 $ 17.56 $ 191.75 $ 10.00 $ 8.00 $ 173.58

*Total benefits paid from Initial Pension Effective Date to the month before the Re-retirement Pension Effective Date.

**Because the Initial Pension Effective Date was before 6/1/2010, the factor used to determine the actuarial equivalent value of the Benefit Period A 

portion of the benefit is the age 65 factor for the Plan Year beginning 4/1/2010. If the Initial Pension Effective Date was on or after 6/1/2010 the factor 

used would be the age 65 factor for the Plan Year beginning 4/1/2013 as it is for the Benefit Period B portion of the benefit.

Re-retirement Calculation Method Two

Contributions in Calendar Year Payable the following July 1st Age at July 1st Benefit calculation

2007 July 1, 2008 61 ($2,294 ÷ 100) x $0.95 = $21.85

2008 July 1, 2009 62 ($2,850 ÷ 100) x $0.97 = $28.13

2009 July 1, 2010 63 ($1,445 ÷ 100) x $0.99 = $13.86

 2010* July 1, 2011 64 ($ 375 ÷ 100) x $1.02 = $ 4.08

Method Two Re-retirement Pension Benefit $67.92

* Calculation frozen as of May 31, 2010

Results: Method One produces the greater additional monthly Re-retirement benefit of $173.58 as a Single Life Benefit. 

AFMEPF0556
30

How a Re-retirement Pension Benefit is Paid 

A Re-retirement Pension Benefit is available in the same payment forms as a Regular Pension Benefit 

(see pages 16 through 21). You may elect to have your Re-retirement Pension Benefit paid in a form 

different from the form of benefit payment you elected for your Initial Pension Benefit. Note that 

whatever form of benefit payment you select for your Re-retirement Pension Benefit will also apply to 

any additional Re-determination Benefits that you may earn in the future. In no case will the form of 

benefit payment for your Initial Pension Benefit be changed when your Re-retirement Pension Benefit 

becomes payable. 

2. Additional Pension Benefits Earned After Normal Retirement Age: 

 Re-determination Benefits 

After your Initial Pension Benefit or Re-retirement Pension Benefit begins (whichever is later), if you 

have contributions of $50 or more in a calendar year for any Benefit Period after Normal Retirement Age, 

you will earn additional pension benefits referred to as a Re-determination Benefit. A Re-determination 

Benefit is calculated each July 1 based on the contributions received by the Fund in the previous calendar 

year (or, if earlier, the date on which the Fund determines that the Employer was obligated to make the 

contributions). The Re-determination Benefit is based on the age-65 Benefit Multiplier in effect at the end 

of the previous calendar year and is reduced, or offset, by the actuarial equivalent of any 

Re-determination Benefit you received in the previous year that is based on contributions earned after 

2003 (also referred to as the “Offset Amount”). 

Example 1: After your Re-retirement Pension Effective Date in 2011 at age 65, the Fund receives an 

additional $2,300 of contributions resulting in a Re-determination Benefit of $23.00 [($2,300/100) x 

$1.00] beginning July 1, 2012. You continue working in Covered Employment and contributions are 

received by the Fund each year through 2016. Here is how your Re-determination Benefits would be 

calculated: 

AFMEPF0557
31

A B C D E

Redetermination 

Benefit 

Effective 

Date

Age at 

Redetermination

Benefit 

Effective 

Date

Contributions 

received in 

previous 

calendar year

Monthly 

Benefit as a 

Single Life 

Benefit 

before 

Offset 

(amount 

from 

Column A 

rounded to 

nearest 

$100/100 X 

Benefit 

Multiplier in 

effect on 

12/31 of 

previous 

year)

Offset Amount Monthly Redetermination 

Benefit 

Commencing 

on Effective 

Date 

(Column B 

minus 

Column C)

Total 

Monthly Redetermination 

Benefit 

(Column D + 

Column E 

from 

previous 

year)

7/1/2012 66 $ 2,300.00 $ 23.00 $0.00 $ 23.00 $ 23.00

7/1/2013 67 $ 1,250.00 $ 13.00

$23.00 x 6 = 

$138.00/155.5788 = $0.89 $ 12.11 $ 35.11

7/1/2014 68 $ 1,700.00 $ 17.00

(($23.00 x 12 = $276.00) + 

($12.11 x 6 = 

$72.66))/151.2048 = $2.31 $ 14.69 $ 49.80

7/1/2015 69 $ 875.00 $ 9.00

(($35.11 x 12 = $421.32) + 

($14.69 x 6 = 

$88.14))/146.7192 = $3.47 $ 5.53 $ 55.33

7/1/2016 70 $ 0.00 $ 0.00 $0.00 $ 0.00 $ 55.33

7/1/2017 71 $ 120.00 $ 1.00

$55.33 x 12 = 

$663.96/137.4552 = $4.83 $ 0.00 $ 55.33

Example 2: After your Initial Pension Benefit Effective Date in 2012 at age 65, you earn an additional 

$4,200 of contributions resulting in a Re-determination Benefit of $42.00 [($4,200/100) x $1.00] 

beginning July 1, 2013. You continue working in Covered Employment and contributions are received by 

the Fund each year through 2018. Here is how your Re-determination Benefits would be calculated: 

AFMEPF0558
32

A B C D E

Redetermination 

Benefit 

Effective 

Date

Age at 

Redetermination

Benefit

Effective 

Date

Contributions 

Received in 

previous 

calendar year

Monthly 

Benefit as a 

Life Benefit 

before Offset 

(amount from 

Column A 

rounded to 

nearest 

$100/100 X 

Benefit 

Multiplier in 

effect on 

12/31 of 

previous year)

Offset Amount Monthly Redetermination 

Benefit 

Commencing 

on Effective 

Date 

(Column B 

minus 

Column C)

Total 

Monthly Redetermination 

Benefit

(Column D + 

Column E 

from 

previous 

year)

7/1/2013 66 $ 4,200.00 $ 42.00 $ 0.00 $ 42.00 $ 42.00

7/1/2014 67 $ 4,350.00 $ 44.00

$42.00 x 6 = 

$252.00/155.5788 = 

$ 1.62 $ 42.38 $ 84.38

7/1/2015 68 $ 4,500.00 $ 45.00

(($42.00 x 12 = $504.00) 

+ (42.38 x 6 = 

$254.28))/151.2048 = 

$ 5.01 $ 39.99 $ 124.37

7/1/2016 69 $ 4,500.00 $ 45.00

(($84.38 x 12 = 

$1,012.56) + ($39.99 x 6 

= $239.94)/146.7192 = 

$ 8.53 $ 36.47 $ 160.84

7/1/2017 70 $ 4,650.00 $ 47.00

(($124.37 x 12 = 

$1,492.44) + ($36.47 x 6 

= $218.82))/142.1436 = 

$ 12.04 $ 34.96 $ 195.80

7/1/2018 71 $ 4,650.00 $ 47.00

(($160.84 x 12 = 

$1,930.08) + ($34.96 x 6 

= $209.76))/137.4552 = 

$ 15.57 $ 31.43 $ 227.23

7/1/2019 72 $ 3,000.00 $ 30.00

(($195.80 x 12 = 

$2,349.60) + ($31.43 x 6 

= $188.58))/132.6684 = 

$ 19.13 $ 10.87 $ 238.10

AFMEPF0559
33

NOTE: The factors used in examples 1 and 2 to determine actuarial equivalent value in the Offset 

Amount Calculations (column C) are based on the Re-determination Benefit Effective Date and the 

Participant’s age on that date. For these examples, the factors in effect for the 12 months beginning April 

1, 2013 were used. These factors change every year on April 1st. 

How Re-determination Benefits are Paid 

 If you are receiving a Re-retirement Pension Benefit (described earlier in this section), you will 

receive Re-determination Benefits in the same form as your Re-retirement Pension Benefit. 

 If your Initial Pension Benefit Effective Date was at or after your Normal Retirement Age (in 

which case you will not receive a Re-retirement Pension Benefit), you will receive 

Re-determination Benefits in the same form as your Initial Pension Benefit. 

 If your Initial Pension Benefit Effective Date was before Normal Retirement Age and you are not

receiving a Re-retirement Pension Benefit (described earlier in this section), your first 

Re-determination Benefit is available in the same forms of benefit payment as a Regular Pension 

Benefit (see pages 16 through 21). In such case, you will have the opportunity to select the 

payment form for your Re-determination Benefit. The form of payment you elect for your 

Re-determination Benefit can be different than the form of benefit payment you elected for your 

Initial Pension Benefit. Note that whatever form of benefit payment you select for your first 

Re-determination Benefit will also apply to any subsequent Re-determination Benefits that you 

earn. 

In no case will the form of benefit payment for your Initial Pension Benefit be changed when a 

Re-determination Benefit is payable. 

AFMEPF0560
34

RETIREMENT ACCOUNT BENEFIT FOR PRE-1968 CONTRIBUTIONS 

A Retirement Account Benefit (“RAB”) is a benefit based on qualified contributions credited to you 

before 1968. Qualified RAB contributions include all contributions before 1968 beginning with 

contributions made during the first year of five consecutive calendar years in which you had total Covered 

Earnings of at least $1,500. 

Eligibility for a Retirement Account Benefit 

You will be eligible to receive a RAB if you file a complete application with the Fund Office and meet 

either of the following requirements: 

 You reach your Normal Retirement Age (generally age 65); or

 You reach age 55 and retire from all Covered Employment. 

Your eligibility for a RAB does not affect your eligibility for a Regular or Disability Pension Benefit 

based on contributions made after 1967. 

No RAB will be paid to a Participant who was not vested and received a lump-sum disability benefit 

before January 1, 2004. 

How a Retirement Account Benefit is Calculated 

The monthly Retirement Account Benefit is equal to the greater of: 

 the actuarially equivalent lump-sum value of qualified RAB contributions plus interest at a rate of 

5% a year credited through the December 31 prior to your Pension Effective Date or date of 

death, if earlier, or

 the actuarially equivalent lump-sum value of the portion of the Regular Pension Benefit (page 16) 

based only on qualified RAB contributions, using Benefit Multipliers that were in effect as of 

December 31, 2003. 

How a Retirement Account Benefit is Paid 

The normal forms of benefit payment for a RAB are the same as for a Regular Pension Benefit (described 

on pages 16 through 21).

AFMEPF0561
35

POST-RETIREMENT DEATH BENEFITS 

If you die after your pension benefit begins, the benefit that is payable upon your death, if any, depends 

on the form of benefit payment you elected at your Initial Pension Benefit Effective Date and/or your 

Re-retirement Pension Benefit Effective Date, if applicable. 

 If your pension benefit was being paid as a 50% Joint and Survivor Benefit, your Joint Annuitant 

will receive 50% of your monthly benefit for life. See page 17. 

 If your pension benefit was being paid as a 75% Joint and Survivor Benefit, your Joint Annuitant 

will receive 75% of your monthly benefit for life. See page 19. 

 Pension benefits with a Pension Effective Date before June 1, 2010 may include a guaranteed 

amount feature (if paid as a Single Life Benefit), or a 60-month guarantee and pop-up features (if 

paid as a 50% Joint and Survivor Benefit). See Appendix B on page 69 for details. 

When You Die 

Your Spouse or Beneficiary should contact the Fund Office as soon as possible following your death. 

The Fund Office will need a certified copy of your death certificate. 

Upon notification of your death, the Fund Office will begin the process to stop your pension payments. 

If a pension payment is made after your death, the payment must be returned to the Fund Office. 

If a benefit is payable after your death, a Death Benefit Application must be completed. The Death 

Benefit Application can be downloaded from the Applications and Forms section on the Fund’s website at 

www.afm-epf.org, or may be requested by contacting the Fund Office. The Death Benefit Application, 

which must be signed in the presence of a notary public, describes in detail the information and 

documents that must be received by the Fund Office before any death benefit may be paid. 

AFMEPF0562
36

Participants who have not begun to receive a pension benefit or are receiving pension 

benefits and are under age 65 should obtain, complete and return to the Fund Office a 

Pre-retirement Death Benefit Beneficiary Designation form as described on page 37. If 

there is no such form on file at the Fund Office and you are not Married on the date of 

your death (for example, your Spouse dies before you) no Pre-retirement Death Benefit 

will be paid.

PRE-RETIREMENT DEATH BENEFITS 

If you die before your Initial Pension Benefit or your Re-retirement Pension Benefit begins to be paid to 

you, the Fund may pay benefits to your Spouse or Beneficiary (if you are not Married) on the date of your 

death. 

Designating the Beneficiary of Your Pre-retirement Death Benefit 

You may designate up to three people (or if greater, the number of your natural and adopted children) as 

primary Beneficiaries of your Pre-retirement Death Benefit. In addition, you may designate up to three 

people (or if greater, the number of your natural and adopted children) as alternate Beneficiaries of your 

Pre-retirement Death Benefit. All designations must be made on the form provided by the Fund Office. 

The alternate Beneficiary(ies) will receive the benefit only if all primary Beneficiaries die before you or at 

the same time as you. An entity, such as a trust, an estate, or educational institution, cannot be a 

Beneficiary. If your Beneficiary is a minor child, additional actions are required (contact the Fund Office 

for details). 

If you name more than one primary and/or alternate Beneficiary and do not specify the percentage of the 

benefit you wish each to receive, the benefit will be divided equally among all primary Beneficiaries or 

alternate Beneficiaries, if there are no surviving primary Beneficiaries. The share of any of the primary 

Beneficiaries who pre-decease you will be divided among the remaining primary Beneficiary(ies) who 

survive you based on the pro rata percentage of benefit that you designate. The same pro rata method will 

apply to the alternate Beneficiary(ies) if there is no surviving primary Beneficiary. If you are Married at 

the time of your death, your Spouse will automatically be your only Beneficiary even if you have 

designated someone else as your primary or alternate Beneficiary. If you are not Married and there are no 

living Beneficiaries upon your death, no Pre-retirement Death Benefit is payable. 

AFMEPF0563

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37

If your family status changes (a marriage, divorce, death, or the birth or adoption of a 

child) before you begin to receive your pension, it’s important to review your beneficiary 

designation. Your change in status will not automatically result in a change in 

beneficiary. Instead, the most recent beneficiary designation form on record at the Fund 

Office determines who will be the Beneficiary of your Pre-retirement Death Benefit, if 

any (unless you are married at the time of your death, as described above).

If you are not Married and die without having designated a primary or alternate 

Beneficiary(ies) on the Fund’s beneficiary designation form, or if there is no primary or 

alternate Beneficiary living on the date of your death, no Pre-retirement Death Benefit 

will be paid. 

You may designate a Beneficiary, including changing a Beneficiary designation, for the Pre-retirement 

Death Benefit by completing the Pre-retirement Death Benefit Beneficiary Designation Form and 

returning it to the Fund Office. You may download the form from the Applications and Forms section on 

the Fund’s website at www.afm-epf.org, or you may request the form from the Fund Office. You may 

also make a written request for a report of your Beneficiary designation from the Fund Office. 

Eligibility for a Pre-retirement Death Benefit 

If you die before your Initial Pension Benefit begins and you are vested, your Spouse (if you are Married 

at the date of your death) or other Beneficiary (if you are not Married at the date of your death) will be 

eligible for a Pre-retirement Death Benefit based on all the contributions credited on your behalf to your 

date of death. 

If you begin to receive your Initial Pension Benefit before age 65, return to work in Covered Employment 

and earn a Re-retirement Pension Benefit (as described on page 27), and die before age 65, your Spouse 

(if you are Married at the date of your death) or other Beneficiary (if you are not Married at the date of 

your death) may be eligible for a Pre-Re-retirement Death Benefit based on the contributions credited on 

your behalf from your Initial Pension Benefit Effective Date to your date of death. 

If you are eligible only for a Retirement Account Benefit (“RAB”) and die before you receive payment of 

the RAB, your Spouse (if you are Married at the date of your death) or other Beneficiary (if you are not 

AFMEPF0564
38

Married at the date of your death) will be eligible for a Pre-retirement Death Benefit based on eligible 

contributions credited on your behalf for Covered Employment through 1967. 

How a Pre-retirement Death Benefit is Calculated 

The amount of a Pre-retirement Death Benefit will depend on your age at your date of death and the 

number of full years of difference in age between you and your Spouse or Beneficiary. 

 If you are age 55 or older at your death, your Spouse or other Beneficiary will receive the same 

monthly benefit that he or she would have received as a Joint Annuitant if, instead of dying, you 

(unless you had already done so) began to receive a 50% Joint and Survivor Benefit starting the 

month after your death and you died the next day. 

 If you are younger than age 55 at your death, your Spouse or other Beneficiary will receive the 

same monthly benefit that he or she would have received as a Joint Annuitant if, instead of dying, 

you left Covered Employment on your date of death and began to receive a 50% Joint and 

Survivor Benefit at your age on the first of the month following your date of death. 

Example 1: Jordan dies at age 57. He is survived by his Spouse, who is age 54. His Spouse will receive 

the same monthly benefit that she would have received as a Joint Annuitant if, instead of dying, Jordan 

had begun receiving a 50% Joint and Survivor Benefit starting the month after his death and died the next 

day. His Spouse will receive the survivor benefit for her lifetime. 

Benefit 

Period Total Contributions

Contributions (rounded 

to the nearest 100)/100

X age 57 Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

A $ 39,250.00 393 $ 2.05 $ 805.65

B $ 20,026.00 200 $ 1.54 $ 308.00

C $ 11,369.00 114 $ 1.43 $ 163.02

D $ 4,663.00 47 $ 0.88 $ 41.36

E $ 3,209.00 32 $ 0.44 $ 14.08

Single Life Benefit $ 1,332.11

Pension as a 50% Joint & Survivor Benefit (91.7% of Single Life Benefit) $ 1,221.54

Survivor Benefit (beginning on the first of the month following the Participant’s 

date of death) $ 610.77

AFMEPF0565
39

Example 2: Sara dies at age 51. Prior to her death she named a primary Beneficiary using the Fund’s 

Pre-retirement Death Benefit Beneficiary Designation form. Her Beneficiary is age 57. Her Beneficiary 

will receive the same monthly benefit that he would have received as a Joint Annuitant if, instead of 

dying, Sara had begun receiving a 50% Joint and Survivor Benefit actuarially reduced to age 51 starting 

the month after her death and died the next day. Her Beneficiary will receive the survivor benefit for his 

lifetime. 

*The factor is for the Plan Year beginning 4/1/2013. The factors change every year on April 1st. 

How a Pre-retirement Death Benefit Is Paid 

The Pre-retirement Death Benefit will be paid:

 as a monthly benefit for the life of your Spouse or Beneficiary; or

 as a cash-out if the actuarial equivalent lump-sum value of the monthly benefit is $5,000 or less. 

Timing of the Pre-retirement Death Benefit 

If your Spouse or Beneficiary applies for the death benefit in time for it to begin to be paid within six (6) 

months after the first day of the month following your death, the death benefit will be paid retroactive to 

that date. This means that your Spouse’s or Beneficiary’s first payment will include an amount equal to 

the additional monthly payments (without interest) that he or she would have received if payments had 

begun on the first day of the month following your death. 

Benefit 

Period Total Contributions

Contributions (rounded 

to the nearest 100)/100

X age 55 Benefit 

Multiplier

Pension Benefit as a 

Single Life Benefit

A $ 18,945.00 189 $ 1.70 $ 321.30

B $ 16,458.00 165 $ 1.28 $ 211.20

C $ 8,921.00 89 $ 1.19 $ 105.91

D $ 2,890.00 29 $ 0.73 $ 21.17

E $ 1,222.00 12 $ 0.37 $ 4.44

Single Life Benefit at age 55 $ 664.02

Single Life Benefit at age 51 (Actuarial reduction is 78.05% of age 55 Single Life 

Benefit)* $ 518.27

50% Joint & Survivor Benefit at age 51(96.2% of age 51 Single Life Benefit) $ 498.58

Survivor Benefit (beginning the first of the month following the Participant’s date 

of death) $ 249.29

AFMEPF0566
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If your Spouse or Beneficiary does not apply for the death benefit in time for it to begin to be paid within 

six (6) months after the first day of the month following your death, no retroactive payment will be made. 

Instead, the benefit may be actuarially adjusted to account for the later commencement. Additionally, any 

actuarial adjustment applicable to the death benefit will be based on the age you would have reached (in 

whole years) as of the benefit commencement date, rather than the date of death. 

If you die before age 65 and your Spouse does not elect to begin death benefits as described above, they 

will begin the first day of the month following the day that you would have turned 65. If you die before 

age 65 and your non-spouse Beneficiary does not elect to begin death benefits as described above, they 

will begin by December 31 of the calendar year immediately following the year of your death. 

Pre-retirement Death Benefits are only paid after the Fund Office has received a complete application 

from your Spouse or Beneficiary. If the application (and all required accompanying documentation) is 

received by the Fund Office on or before the 15th day of any month, the benefit will begin on the first of 

the following month. If the application is received by the Fund Office after the 15th day of the month, the 

benefit will begin on the first day of the second following month. The Pre-retirement Death Benefit 

application is available in the Applications and Forms section on the Fund’s website at www.afm-epf.org 

or by contacting the Fund Office. 

AFMEPF0567
41

OTHER INFORMATION 

Applying for Your Pension Benefit – The Two-Part Pension Application 

In order to receive your pension benefit, you must file a complete two-part Pension Application, and 

submit all required supporting documents, within the required time periods. Your failure to file a 

complete Pension Application will be deemed to be an election to defer payment of your benefit. 

Part 1: Preliminary Information form 

Part 1 of the Pension Application consists of the Preliminary Information form, along with a notice 

describing the Plan’s early retirement procedures. Part 1 of the Pension Application is available from the 

Fund Office or in the Applications and Forms section on the Fund’s website at www.afm-epf.org. 

You must complete the Preliminary Information form and return it to the Fund Office, along with all 

required documents described in the Preliminary Information form (for example, proof of age, marriage, 

and divorce documents), at least 90 days before the date that you request as your Pension Effective Date 

on the Preliminary Information form. The Fund Office must have the required documents to verify your 

age, your marital status, the age of your Spouse, if applicable, and, if you are divorced, determine whether 

your former Spouse is entitled to any portion of your pension benefit. If you do not have your birth 

certificate or marriage certificate, you may be able to request them from the office of vital statistics in the 

state where you were born or married. If you do not have your divorce decree or divorce settlement 

agreement, you may be able to obtain them from the court that granted your divorce. 

If you do not return a completed Preliminary Information form and all required documents at least 90 

days before the Pension Effective Date you request on the Preliminary Information form, your Pension 

Effective Date may be later. 

The Fund Office will notify you in writing: 

1. when Part 1 of the Pension Application is complete; 

2. if you are not eligible for a pension benefit; or 

3. if additional items are needed to complete Part 1 of the Pension Application. If you do not 

provide the additional requested items within 60 days of the date of the Fund’s request, your 

AFMEPF0568
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If your Pension Effective Date would be more than 180 days after you were provided 

with Part 2 of the Pension Application, then your application will expire, and you will 

need to begin the application process again by completing and returning a new Part 1 of 

the Pension Application.

application will expire and you will need to begin the application process again by completing 

and returning a new Preliminary Information form. 

Part 2: The Choice of Benefit Payment Option form 

After the Fund Office has received your complete Preliminary Information form, including all required 

documents, the Fund Office will begin the work necessary to send you Part 2 of the Pension Application. 

Part 2 consists of: 

 a “Choice of Benefit Payment Option” form for you to choose how your pension benefit will be 

paid; 

 an explanation of the benefit payment options; 

 an explanation of your Spouse’s rights with respect to the available benefit payment options and 

the financial effect of waiving the normal form of benefit payment; and 

 your earliest Pension Effective Date. 

You must return a fully completed Part 2 of the Pension Application (Choice of Benefit Payment 

Option form and spousal consent form, if required) before your actual Pension Effective Date can be 

determined. 

Your Pension Effective Date

Your Pension Effective Date is the first day of the first month for which you receive a pension benefit. 

 Your earliest Pension Effective Date is the first day of the first month following the month in 

which the Fund Office receives from you a complete Part 2 of the Pension Application (Choice of 

Benefit Payment Option form and spousal consent form, if required) if these forms are received at 

the Fund Office on or before the 15th day of the month. If the forms are received at the Fund 

Office after the 15th day of the month, your Pension Effective Date is the first day of the second 

month following the Fund Office’s receipt of your forms.

 You may choose a later Pension Effective Date. 

 Your Pension Effective Date will not change if there is an administrative delay in processing your 

benefits. In that case, you will receive benefits retroactive to your Pension Effective Date. 

AFMEPF0569

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43

Example 1: Joe, who is Married, fills out Part 1 of the Pension Application, requesting a Pension 

Effective Date of July 1, and returns it to the Fund Office. The Fund Office determines that it is 

complete, and then prepares and sends him Part 2 of the Application (Choice of Benefit Payment Options 

form and spousal consent form). If Joe completes and sends back these forms and they are received at the 

Fund Office on or before June 15, Joe’s Pension Effective Date will be July 1. If the forms are received 

at the Fund Office after June 15, but before July 16, his Pension Effective Date will be August 1. 

Example 2: Matthew, who is divorced, fills out Part 1 of his Pension Application, requesting a Pension 

Effective Date of April 1, and returns it to the Fund Office. The Fund Office determines that it is 

incomplete and asks Matthew for the information and documents needed to complete Part 1 of the 

Application. Matthew completes Part 1, and the required documents are received by the Fund Office on 

March 1. The work needed to send him Part 2 of the Pension Application (Choice of Benefit Payment 

Option form) is completed in late March. If Matthew returns the completed form, and it is received at the 

Fund Office on or before April 15, Matthew’s Pension Effective Date will be May 1. If the forms are 

received at the Fund Office after April 15, but before May 16, Matthew’s Pension Effective Date will be 

June 1. 

Example 3: Lauren, who is Married, fills out Part 1 of her Pension Application, requesting a Pension 

Effective Date of July 1, and returns it to the Fund Office. The Fund Office determines that it is 

complete, and then prepares and sends her Part 2 of the Application (Choice of Benefit Payment Options 

form and spousal consent form). Lauren returns the completed forms, and they are received at the Fund 

Office before June 15. Her Pension Effective Date will be July 1. This is true even though, due to an 

administrative processing delay, her payments do not actually start until August 1. Her first payment will 

include both a payment of her August pension benefit and a retroactive payment of her July pension 

benefit. 

AFMEPF0570
44

Early Retirement Procedures 

The Plan requires that a Participant may begin receiving pension benefits before Normal Retirement Age 

(generally age 65) only if he or she retires from all employment with any Employers contributing to the 

Fund. These Early Retirement Procedures set forth the Plan’s rules for determining whether a Participant 

has retired and is therefore eligible to begin receiving an early retirement pension.

What is Retirement? 

You will be considered to be retired only if you meet all of the following requirements: 

 You have stopped all work with all Employers who contribute to the Fund as of your Pension 

Effective Date, whether or not pension contributions are payable for such work; 

 You have no intention or expectation to work after your Pension Effective Date with any 

Employer who contributes to the Fund; 

 You have no right under a Collective Bargaining Agreement or any other contractual right to 

employment after your Pension Effective Date with any Employer who contributes to the Fund; 

 You perform no work of any kind for an Employer participating in the Fund during the first two 

calendar months following your actual Pension Effective Date (which may be later than your 

requested Pension Effective Date); and 

 If you retire from steady employment with an Employer that has seasonal breaks in work at the 

end of a season, you perform no work of any kind for that Employer in the first two calendar 

months following the beginning of that Employer’s new season. 

o Two calendar months is the period of time from the Pension Effective Date (always the 

first day of a month) through the end of the second month following the Pension 

Effective Date. 

 Example: If the Pension Effective Date is February 1, the first two calendar 

months following that date end March 31 (regardless of the actual number of 

days between these dates). 

o Special Note: For Participants retiring from steady employment with an Employer that 

has seasonal breaks, two calendar months is also the period of time from the beginning of 

AFMEPF0571
45

the new season following retirement through the end of the day before that calendar date 

two months later. 

 Example: If the season begins September 15, the first two calendar months 

following that date end on November 14. 

The Pension Application process is described in the preceding section beginning on page 41. 

How the Fund Will Confirm Retirement 

The Fund will confirm your retirement in three ways: 

 by your statement on Part 1 – Preliminary Information form of the Pension Application; 

 by the representations of your Employer(s) for whom you are employed in steady employment; 

and 

 by the contributions made on your behalf after your Pension Effective Date. 

These processes are described below. Bear in mind that each process will be used if it applies to your 

situation; they are not alternative ways to show that you are retired. 

1. The Pension Application 

Part 1 – Preliminary Information form of the Pension Application requires a signed statement that: 

Your Pension Effective Date is the first day of the first month for which you receive your pension benefit. 

● Your earliest Pension Effective Date is the first day of the first month following the month in which the 

Fund Office receives from you a complete Part 2 of the Pension Application (Choice of Benefit Payment 

Option form and spousal consent form, if required) if the forms are received on or before the 15th day of 

the month or, if the forms are received after the 15th day of the month, your Pension Effective Date is the 

first day of the second month following receipt of the forms at the Fund Office.

● You may choose a later Pension Effective Date.

● Your Pension Effective Date will not change if there is an administrative delay in processing your 

benefits. In that case, you will receive benefits retroactive to your Pension Effective Date.

AFMEPF0572
46

 you will have stopped all work with all Employers who contribute to the Fund as of your Pension 

Effective Date, including any work for which no pension contributions are payable (such as 

administrative services); 

 you have no intention or expectation to work after your Pension Effective Date with any 

Employer who contributes to the Fund; and 

 you have no right under a Collective Bargaining Agreement or any other contractual right to 

employment after your Pension Effective Date with any Employer who contributes to the Fund. 

2. Confirmation of Retirement with Your Employer 

If you are employed in steady employment, the Fund will contact your Employer(s) before your Pension 

Effective Date to confirm that you have actually retired, and that you have no further right, understanding, 

or expectation of future employment. Examples of steady employment include: 

 employment for the run of a Broadway show; 

 employment in a house band for a network variety show; 

 employment with the AFM or its local unions (including employment as an elected officer); 

 employment under an orchestra Collective Bargaining Agreement; or 

 employment with AFM-related funds such as the Film Musicians Secondary Markets Fund, the 

Sound Recording Special Payments Fund or the Music Performance Trust Fund. 

This is not an exhaustive list of types of steady employment. There may be other situations in which you 

work on a steady basis that will be considered steady employment for the purposes of these Early 

Retirement Procedures. 

3. Requirements Following Your Pension Effective Date 

After your Pension Effective Date, the Fund will confirm the statements made on Part 1 of the Pension 

Application and by your Employer(s) by monitoring any additional pension contributions made on your 

behalf. If the Fund finds that you performed any work for an Employer participating in the Fund during 

the first two calendar months following your Pension Effective Date, you will be considered not to have 

retired. 

In addition, if you retire from steady employment with a symphonic Employer or other Employer that has 

seasonal breaks in work at the end of a season, and the Fund finds that you performed any work for that 

AFMEPF0573
47

Employer in the first two calendar months following the beginning of that Employer’s new season, you 

will be considered not to have retired. 

Consequences of Fund’s Determination that No Retirement Has Occurred

If you begin an early retirement pension but the Fund determines that you did not retire in accordance 

with these Early Retirement Procedures, your pension will be stopped immediately. For example, your 

pension will be stopped if you return to work (even a very small amount of work) before the end of the 

applicable two calendar months described above, or if the Fund discovers that you had future musical 

engagements scheduled prior to your Pension Effective Date (even if those engagements are outside the 

applicable two calendar months). 

If your pension is stopped because the Fund determines that you did not retire, you will be required to 

repay to the Fund any pension payments that were made and you will need to reapply to receive a pension 

in the future. Any decision by the Fund that you have not in fact retired may be appealed under the claims 

and appeals procedures described below. 

Returning to Work after Your Early Retirement Pension Effective Date 

If you return to work after your early retirement Pension Effective Date, you will continue to receive your 

early retirement pension unless you returned to work before the applicable two calendar months described 

above, or unless the Fund otherwise determines that you were not in fact retired as of your Pension 

Effective Date. 

More Information about the Early Retirement Procedures

If you have questions about these Early Retirement Procedures, please contact the Fund in writing or via 

the Fund’s website (www.afm-epf.org) using the “Contact Us” feature. 

Claims and Appeals - ERISA Rights 

If your application for benefits is denied, in whole or in part, you will get a written notice of the denial 

within 90 days. (Special circumstances may require up to an additional 90 days, in which case you will be 

notified of the delay and the expected date of a decision within the initial 90-day period.) The notice will 

describe the specific reason or reasons for the denial, the Plan provisions on which the denial is based, 

AFMEPF0574
48

any additional information or material that you might need to provide in order to support your application 

and an explanation of why it is necessary, and the Plan’s review procedures. In the case of a claim for a 

disability pension that is not based on a Social Security disability award, the notice of denial will be 

provided within 45 days, with up to two 30-day extensions for special circumstances, as long as you are 

notified of the delay and when a decision is expected. If the claim is denied because additional 

information is needed in order to determine your eligibility for the disability benefit, you will have 45 

days to provide that information. 

The Plan’s procedures allow for the appeal of an administrative denial of a claim for benefits. If you wish 

to file an appeal, you or your duly authorized representative (collectively, “you”) must file a written 

request for a review of the denial of the claim for benefits with the Administrative Committee of the 

Board of Trustees of the Fund (the “Administrative Committee”) within 60 days of your receipt of the 

notice of denial. 

Your written request may include an explanation or presentation of all issues and comments supporting 

your claim. You can submit written comments, documents, records and other information relating to your 

claim. In connection with your appeal, you will be provided, upon written request and free of charge, 

with reasonable access to (and copies of) all documents, records, and other information relevant to your 

claim. The review by the Administrative Committee will take into account all comments, documents, and 

other information submitted by you relevant to your claim, even if it was not submitted or considered in 

the initial denial. The review will not afford deference to the initial decision denying your claim for 

benefit. For reviews of disability claim denials, the Administrative Committee will consult with a health 

care professional with appropriate training and experience in the field of medicine involved in any 

medical judgment that needs to be made with respect to any disability benefit appeal. This individual will 

be different than (and not the subordinate of) any professional consulted in the initial claim denial. On 

written request, you may obtain identifying information of medical or vocational experts whose advice 

was obtained in connection with the Administrative Committee’s determination, even if the advice was 

not relied upon in making the determination. 

If you do not file a written request for a review of the denial of your claim within 60 days of your receipt 

of an administrative denial and appeal notice (180 days in the case of disability), you will no longer be 

able to appeal the administrative denial and the Fund will have no further obligation to review any of the 

issues that were raised in your claim. 

AFMEPF0575
49

If your appeal is received at least 30 days before the next regularly scheduled meeting of the 

Administrative Committee, the Administrative Committee will generally review and make a decision on 

your appeal at that meeting (unless special circumstances require the Administrative Committee to extend 

its time to respond, in which case, your appeal will be reviewed and the Administrative Committee will 

make a decision on your appeal at the second meeting following receipt of your appeal). If your appeal is 

received within 30 days of the Administrative Committee’s next regularly scheduled meeting, the 

Administrative Committee’s review generally will not take place until the following meeting. If special 

circumstances require a further extension of time for consideration of your appeal, you will be notified 

and the Administrative Committee will make a decision on your appeal not later than the third meeting of 

the Administrative Committee following receipt of your appeal. 

Please bear in mind that, in considering and reviewing appeals, the Administrative Committee has the 

sole and absolute discretion to interpret the terms of the Plan, and to decide matters concerning both the 

eligibility for, and the amount of benefit, due under the Plan. Accordingly, the decision of the 

Administrative Committee is final and binding on all parties. 

Please also be advised that, in accordance with applicable law, you have the right to bring a civil action 

under ERISA if the Administrative Committee denies your claim on appeal, but only if you (i) have 

exhausted the claims and appeals procedures established by the Fund (including, without limitation, filing 

an appeal within the time period described above), and (ii) bring your action within one year after the 

Administrative Committee makes its decision on your appeal. 

Authorized Representative 

The Fund's confidentiality policy allows information about you and your benefits to be released to a third 

party after a notarized Authorization to Release Information form has been received from you. The form 

is available in the Applications and Forms section on the Fund’s website at www.afm-epf.org or by 

written request to the Fund Office. 

Should you need or wish to name another person to receive information and be responsible to handle your 

pension benefits; the Fund will consider a Power of Attorney document or a Court Order appointing a 

Guardian or Conservator. Once the document is approved by the Fund, the person named responsible for 

handling your pension affairs can act on your behalf. 

AFMEPF0576
50

You must request a correction of your records with respect to contributions or Covered Employment 

within three years after the end of the calendar year in which you received wages for the Covered 

Employment. The Fund will not consider a request for correction that is received more than 

three years after the end of the calendar year in which you received wages for the Covered 

Employment. 

Covered Earnings Reports and Pension Credit Review Procedure 

Each year a Covered Earnings report for the previous calendar year (as well as a historical summary 

record of Covered Earnings) will be mailed to you. Additionally, quarterly Covered Earnings updates are 

available to you once you register on the Fund’s website.

Review your statements carefully. If you had Covered Employment that you believe was not properly 

credited or not reported at all, please complete a Covered Employment Correction Claim form, available 

in the Applications and Forms section on the Fund’s website at www.afm-epf.org or by written request to 

the Fund Office. 

The only way to obtain a correction of Covered Employment or contributions is to submit to the Fund 

Office a complete Covered Employment Correction Claim form, along with all of the documentation 

requested in the form (which may include, for example, one or more Form W-2 or 1099, B-form session 

reports, and a copy of the applicable Collective Bargaining Agreement). Contact the Fund Office for 

details. 

The Fund will begin to investigate your claim as soon as a complete Covered Employment Correction 

Claim form and all required documents are received within the applicable time limits. You will receive a 

written acknowledgement of your claim. 

Pension Benefit Guaranty Corporation 

Your pension benefits under this multiemployer plan are insured by the Pension Benefit Guaranty 

Corporation (the “PBGC”), a federal insurance agency. A multiemployer plan is a collectively bargained 

pension arrangement involving two or more unrelated employers, usually in a common industry. 

AFMEPF0577

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51

Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans 

that are insolvent. A multiemployer plan is considered insolvent if the plan is unable to pay benefits (at 

least equal to the PBGC’s guaranteed benefit limit) when due.

The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer program, the 

PBGC guarantee equals a participant’s years of service multiplied by (1) 100% of the first $11 of the 

monthly benefit accrual rate and (2) 75% of the next $33. The PBGC’s maximum guarantee limit is 

$35.75 per month times a participant’s years of service. For example, the maximum annual guarantee for 

a retiree with 30 years of service would be $12,870. 

The PBGC guarantee generally covers: (1) normal and early retirement benefits; (2) disability benefits if 

you become disabled before the Plan terminates; and (3) certain benefits for your survivors. 

The PBGC generally does not cover: 

 benefits greater than the maximum guaranteed amount set by law; 

 benefit increases and new benefits based on Plan provisions that have been in place for fewer than 

five years at the earlier of (i) the date the Plan terminates, or (ii) the time the Plan becomes 

insolvent; 

 benefits that are not vested because you have insufficient Covered Employment; 

 benefits for which you have not met all of the requirements at the time the Plan becomes 

insolvent; and 

 non-pension benefits, such as certain death benefits. 

For more information about the PBGC and the benefits it guarantees, contact the Fund Office or the 

PBGC’s Technical Assistance Division, 1200 K Street, N.W., Suite 930, Washington, DC 20005-4026, or 

call 202-326-4000 (not a toll-free number). TTY/TDD users may call the federal relay service toll-free at 

800-877-8339 and ask to be connected to 202-326-4000. Additional information about the PBGC’s 

pension insurance program is available through the PBGC’s website on the Internet at www.pbgc.gov.

How Benefits Can be Reduced, Delayed, or Forfeited 

There are certain situations under which benefits can be reduced, delayed, or forfeited. Most of these 

circumstances are spelled out in the previous sections, but your benefit will also be affected in the 

following situations: 

AFMEPF0578
52

 You, your Spouse, or your Beneficiary do not file a claim for benefits properly or on time. 

 You, your Spouse, or your Beneficiary do not furnish the information required to complete or 

verify a claim. 

 You, your Spouse, or your Beneficiary do not have a current address on file with the Fund Office. 

 Your Beneficiary is not alive at the payment start date of a survivor benefit. 

 Your Employer is no longer required to make contributions to the Fund on your behalf and you 

continue working for that Employer. 

 You have not named a primary and alternate Beneficiary. See page 36. 

Prohibited Assignment of Benefits 

Benefits under the Plan are for your benefit only. They cannot be sold, transferred, assigned, or pledged to 

anyone; nor are benefits subject in any manner to anticipation, alienation, encumbrance, or charge. 

However, the Fund will comply with a Qualified Domestic Relations Order (QDRO) that gives someone 

else a right to all or a portion of your benefit, a federal tax lien, or any offset resulting from certain breach 

of fiduciary duty permitted under Section 401(a) (13) of the Internal Revenue Code. See Qualified 

Domestic Relations Order on page 53. 

Transferring Pension Benefits from the Fund to an IRA or Other Employer 

Plan

If your distribution is considered an “eligible rollover distribution,” (as determined under the Internal 

Revenue Code) you (or, upon your death, your Spouse, if he or she is your Beneficiary) may elect to have 

it transferred directly from the Fund to a traditional Individual Retirement Account or to another eligible 

retirement plan that accepts rollover distributions. Generally, an eligible rollover distribution is any 

payment from a qualified pension plan that may be rolled over to an eligible retirement plan, including an 

IRA. Eligible rollover distributions don’t include (i) required distributions; (ii) periodic payments over 

life or life expectancy which include the Fund’s Single Life Benefit and the Joint and Survivor Benefits 

payments; and (iii) certain nontaxable distributions. A direct transfer of an eligible rollover distribution is 

called a “direct rollover.” The Fund Office will provide you with a notice explaining more about the 

terms and conditions of direct rollovers, including whether any portion of your benefit is an eligible 

rollover distribution, and the necessary election forms, within the 180-day period before your Pension 

Effective Date (or will provide this notice to your Spouse upon your death if he or she is your 

AFMEPF0579
53

Beneficiary). If a direct rollover of any amounts eligible for a direct rollover is not elected, current 

federal tax laws require the Fund Office to withhold 20% of the payment for federal tax purposes. (This 

percentage may change in the future.) Please keep in mind that income tax laws are complex and are 

subject to frequent changes. For this reason, you should consult a professional tax advisor to fully 

understand the tax consequences of any Fund distributions, direct rollovers, and for information about 

your personal tax situation. 

Qualified Domestic Relations Order (QDRO)

A QDRO is a domestic relations decree, order or judgment issued pursuant to state domestic relations law 

and relating to the provision of child support, alimony or marital property rights that recognizes or creates 

your Spouse’s, former Spouse’s, child’s, or other dependent’s right to (or assigns such person the right to 

receive) all, or a portion of, your benefits under the Plan. 

There are specific requirements under federal law for determining whether a domestic relations order is a 

QDRO. The Fund must follow the requirements of any domestic relations order that it determines to be a 

QDRO, as defined by federal law, that assigns all or a portion of your benefits under the Plan to an 

“alternate payee” who is your Spouse, former Spouse, child, or other dependent. Until the Fund has 

complied with the terms of the QDRO, the Administrative Committee may limit the pension benefit that 

is payable to you. These restrictions could also apply during any period when the Administrative 

Committee is determining whether a written order satisfies the QDRO requirements in the Internal 

Revenue Code. 

You will be notified if the Fund ever receives a proposed QDRO with respect to your pension benefits. 

The Fund has adopted procedures for making determinations regarding whether an order is a QDRO and 

for administering QDROs under the Fund. Additionally, the Fund has model QDRO language (which you 

may, but are not required to, use) both for a divorce occurring before you begin to receive a pension 

benefit and for a divorce occurring after your pension benefits have begun to be paid. For more 

information on QDROs, or to receive a copy of the procedures the Fund follows in determining whether 

an order is qualified and the model QDROs, contact the Fund Office. You may also down load the Fund’s 

QDRO procedures and model QDROs in the Policies and Procedures section on the Fund’s website at 

www.afm-epf.org. 

AFMEPF0580
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Compliance with Federal Law 

The Plan is governed by regulations and rulings of the Internal Revenue Service and the U.S. Department 

of Labor. The Plan will always be construed to comply with these regulations, rulings, and laws. 

Generally, federal law takes precedence over state law. 

Amendment and Termination of the Plan 

The Plan is intended to remain in effect permanently and is not expected to terminate. The Board of 

Trustees, however, has the authority to amend or terminate the Plan at any time and for any reason. You 

will be notified if the Plan is amended or terminated; however, if permitted by law, the change may be 

effective before a notice is delivered to you. 

If the Plan is terminated, you will be vested in any benefit you have accrued to the extent then funded. 

Fund assets will be applied to provide benefits in accordance with the applicable provisions of federal 

law. 

Recovery of Overpayment 

At times you may be required to provide information or proof necessary to determine your right or a 

dependent’s right to benefits under the Plan. When inaccurate information is provided, this ultimately can 

result in the improper use of Plan assets, which adversely affects the ability of the Plan to provide the 

highest possible level of benefits. 

Accordingly, if you, your Spouse or Beneficiary fails to submit the requested information or proof, makes 

a false statement or furnishes fraudulent or incorrect information, you, your Spouse’s or Beneficiary’s 

benefits under the Plan may be negatively affected, and benefits may be denied, suspended or 

discontinued. Of course, if you, your Spouse or Beneficiary is overpaid, you (or your Spouse or 

Beneficiary) must return the overpayment. The Fund has the right to recover any benefit payments made 

that were based on false or fraudulent statements, information or proof submitted, as well as any benefit 

payments made in error. Amounts recovered may include interest and costs. 

AFMEPF0581
55

If the Fund requests repayment of an overpayment and the overpayment is not fully repaid, any 

overpayment remaining due will be deducted from future benefits (including benefits due to a surviving 

Spouse or other Beneficiary after your death), or a lawsuit may be initiated to recover the overpayment. 

Your Disclosures to the Fund 

If you provide false information to the Fund or commit fraud, you may be required to indemnify and 

repay the Fund for any losses or damages caused by your false statements or fraudulent actions. (Some 

examples of fraud include altering a check and knowingly cashing a voided check.) 

Plan Administration 

The Plan is a defined benefit pension plan. Pension benefits are provided, in the amounts specified in the 

Plan, from the Fund’s assets. Those assets are accumulated under the provisions of the Trust Agreement 

and are held in a Trust Fund for the purpose of providing benefits to Participants and Beneficiaries and 

defraying reasonable administrative expenses. The Fund and Plan are administered by a joint Board of 

Trustees consisting of Union representatives and Employer representatives with equal voting power. 

Interpretation of the Plan 

The Board of Trustees and its duly authorized designee(s) have the exclusive right, power and authority, 

in their sole and absolute discretion, to administer, apply and interpret the Plan, including this SPD, the 

Trust Agreement and any other Plan documents, and to decide all matters arising in connection with the 

operation or administration of the Plan or the Fund. Without limiting the generality of the foregoing, the 

Board of Trustees and/or its duly authorized designee(s) (including, without limitation, the Administrative 

Committee with respect to appeals) shall have the sole and absolute discretionary authority to interpret the 

terms of the Plan, determine benefit eligibility, and: 

 take all actions and make all decisions with respect to the eligibility for, and the amount of, 

benefits payable under the Plan; 

 formulate, interpret and apply rules, regulations and policies necessary to administer the Plan; 

 resolve and/or clarify any ambiguities or inconsistencies arising under the Plan, including this 

Summary Plan Description, the Trust Agreement or other Plan documents; 

 process and approve or deny benefit claims; and 

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 determine the standard of proof required in any case. 

All determinations and interpretations made by the Board of Trustees and/or its duly authorized 

designee(s) (including, without limitation, the Administrative Committee with respect to appeals) shall be 

final and binding on all Participants, Beneficiaries, and any other individuals claiming benefits under the 

Plan. 

The Board of Trustees has delegated certain administrative and operational functions to the staff of the 

Fund Office. Most of your day-to-day questions can be answered by the Fund Office staff. 

Website Registration Procedure at www.afm-epf.org 

Prior to beginning the registration process on the Fund’s website (www.afm-epf.org) be sure to have the 

following information available: 

 your Pension Identification Number (PID) – It appears below your name and address on part 1 of 

your annual covered earnings report or you can call the Fund Office at 1-800-833-8065 extension 

1311 to request your PID, 

 your Social Security Number (SSN) or Social Insurance Number (SIN), 

 your e-mail address, and 

 your mailing address. 

Step 1: Getting Started 

 Enter http://www.afm-epf.org in your web browser. 

 Click on the Register Here link located beneath the Password entry field and the Login button. 

 On the next screen, enter: 

o your PID, 

o the last four digits of your SSN or SIN, 

o your e-mail address, and 

o the password you would like to use. 

 Read the Terms and Conditions, and then check the box next to “I agree to the above terms and 

conditions”.

 Click the Start Registration button. 

Step 2: Your Mailing Address. 

The next screen asks you to confirm or enter your mailing address. 

 If your mailing address is displayed correctly, click the box next to “This is my correct mailing 

address”, and then click the Continue Registration button. 

 If you would like to change your mailing address, click the Change Address button. A screen 

will appear allowing you to change your mailing address. Please note that an address change 

requires 1-2 business days to process. However, this will not delay your registration. 

AFMEPF0583
57

Step 3: Your Document Delivery Options. 

On the next screen you will select how you would like to receive documents from the Fund. 

 You may select to receive paper documents via U.S. mail or electronically to your e-mail address. 

 Once you have made your selection click on Finish Registration. 

Step 4: Activating Your Registration 

Within 10 minutes, you should receive an e-mail from “AFMEPF Web Service” with the subject 

Action Required: “AFMEPF Registration”. This email contains a link that brings you to the 

“E-mail Registration” page. 

 On the “E-mail Registration” page, enter your PID and password. 

 Click the Complete Registration button. 

This is the final step of the registration process. This will be confirmed to you by the screen - “Welcome 

to the AFM-EPF Participant Portal”. 

If you do not receive the e-mail, please check your junk mail folder, spam filter and the e-mail address 

you entered when you began the registration process. If the problem is still unresolved, please call the 

Fund Office at 1-800-833-8065 extension 1295 to report the problem. 

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YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME 

SECURITY ACT OF 1974 (ERISA) 

As a Participant in the Plan, 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 the following: 

Receive Information about Your Plan and Benefits 

 You can examine at the Fund Office without charge all documents governing the Plan, including 

the official Plan document, Collective Bargaining Agreements, and a copy of the latest annual 

report (Form 5500 Series) filed by the Fund with the U.S. Department of Labor and available at 

the Public Disclosure Room of the Employee Benefits Security Administration (formerly the 

Pension and Welfare Benefits Administration). 

 You can obtain, upon written request to the Fund Office, copies of documents governing the 

operation of the Plan, including Collective Bargaining Agreements, the latest annual report (Form 

5500 Series), and the current Summary Plan Description. The Fund Office may make a 

reasonable charge for the copies. 

 You can receive a copy of the Plan’s annual funding notice. The Fund is required by law to 

furnish each Participant with a copy of this notice. 

 You can obtain a statement telling you whether you have a right to receive a pension at Normal 

Retirement Age (generally age 65) and, if so, what your benefits would be at Normal Retirement 

Age if you stop working in Covered Employment now. If you do not have a right to a pension, 

the statement will tell you how many more years of Vesting Service you must earn to have a nonforfeitable 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 statement is free of charge. 

Many of the documents and reports mentioned in this section are available on the Fund’s website at 

www.afm-epf.org. 

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Prudent Actions by Plan Fiduciaries 

In addition to creating rights for Plan Participants, ERISA imposes duties upon the people who are 

responsible for the operation of employee benefit plans. 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, the 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. 

Enforce Your Rights 

If your claim for a pension benefit is denied or ignored, in whole or in part, you have the right to know 

why this was done, to obtain copies of documents relating to the decision without charge, and to appeal 

any denial, all within certain time schedules (as previously detailed on page 47).

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy 

of Plan documents or the latest annual reports from the Fund and do not receive them within 30 days, you 

may file suit in a 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 Fund Office. 

If you have a claim for benefits that is denied or ignored, in whole or in part, you may file suit in a state or 

federal court, if you have followed the appeal procedure described on page 47. In addition, if you disagree 

with the Fund’s decision or lack thereof concerning the qualified status of a domestic relations order, you 

may file suit in a federal court. If it should happen that Plan fiduciaries misuse the Fund’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 a 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 these 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. 

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Assistance with Your Questions 

If you have any questions about your Plan, you should contact the Fund Office. If you have any questions 

about this statement or about your rights under ERISA, or if you need assistance in obtaining documents 

from the Fund Office, you should contact the nearest office of the Employee Benefits Security 

Administration, U.S. Department of Labor, listed in your telephone directory, or the Division of 

Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of 

Labor, 200 Constitution Avenue, N.W., Washington, DC 20210. 

You may also obtain certain publications about your rights and responsibilities under ERISA by calling 

the publications hotline of the Employee Benefits Security Administration. 

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61

PLAN FACTS 

Official Plan Name American Federation of Musicians and Employers’ Pension Plan

Employer Identification 

Number (EIN) 51-6120204

Plan Number 001

Plan Year April 1 - March 31

Type of Plan Defined benefit pension plan

Funding of Benefits

All contributions to the Fund are made by contributing Employers in 

accordance with applicable Collective Bargaining Agreements. Benefits are 

paid from the Fund’s assets, which are accumulated under the provisions of 

the written agreements and the Trust Agreement. Earnings on invested 

contributions pay for benefits and administrative expenses.

Trust

Assets are held in a Trust Fund administered by the Board of Trustees for the 

purpose of providing benefits to covered Participants and beneficiaries, and 

paying reasonable administrative expenses. 

Plan Sponsor and 

Administrator

The Plan is administered by a joint Board of Trustees. The Board of Trustees 

may be contacted at:

American Federation of Musicians and Employers’ Pension Fund

P.O. Box 2673

New York, NY 10117-0262 

Participants and beneficiaries may receive from the Fund Office, upon written 

request, information as to whether a particular employer or union participates 

in the Plan and, if the employer or union participates in the Plan, the 

employer’s or union’s address. 

Agent for Service of 

Legal Process

The Board of Trustees has been designated as the agent for the service of 

legal process. Legal process may be served at the Fund Office on any 

individual Trustee or on the Fund’s Executive Director, Maureen B. Kilkelly.

Collective Bargaining 

Agreements

The Plan is maintained pursuant to Collective Bargaining Agreements entered 

into by Employers and the Union. Copies of these agreements are available 

for examination and may be obtained upon written request to the Fund Office.

AFMEPF0588
62

GLOSSARY 

The definitions in this Glossary, in some cases, are summaries of the definitions in the Plan. If there is 

any conflict between the Glossary and the Plan, the terms of the Plan will control. Capitalized terms used 

in this Summary Plan Description that are not defined in this Glossary have the meaning given them 

under the Plan. The Plan is available from the Fund Office upon written request or on the Fund’s website 

at www.afm-epf.org. 

Active Participant – Any person employed by the Fund, the Union, or other Employer acceptable to the 

Board of Trustees who earns at least $750 in Covered Earnings in a calendar year ($375 if the Participant 

had at least three years of Vesting Service as of December 31, 2003 with no subsequent Permanent Break 

in Service). If the Participant has a One-year Break in Service, he or she loses Active Participant status 

(becomes an Inactive Participant) until that individual again satisfies the Plan’s participation rules 

(described on page 5). 

Administrative Committee – A committee of the Board of Trustees to which the Board of Trustees has 

delegated certain functions with respect to Fund administration. 

Benefit Multiplier – The dollar amount by which each $100 of contributions is multiplied to determine 

the amount of your pension benefit. It varies with the Participant’s age and the year in which the 

Contributions were credited. 

Benefit Payment Options – 

50% Joint and Survivor Benefit – A monthly pension benefit payable for the Participant’s 

lifetime. In addition, if the Joint Annuitant is alive when the Participant dies (even if divorced at 

that time), he or she will receive 50% of the Participant’s monthly benefit for the rest of his or her 

life. This is the normal form of benefit payment with the Spouse as the Joint Annuitant for a 

Married Participant. Monthly payments are lower than under a Single Life Benefit because the 

total monthly payments are expected to be paid over two lifetimes. The reduction for this Benefit 

Payment Option is based on the age difference between the Participant and the Joint Annuitant. 

See pages 18 and 25 for the reduction applicable at various age differences. 

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63

75% Joint and Survivor Benefit – A monthly pension benefit is payable for the Participant’s 

lifetime. In addition, if the Joint Annuitant is alive when the Participant dies (even if divorced at 

that time), he or she will receive 75% of the Participant’s monthly benefit for the rest of his or her 

life. Monthly payments are lower than under a Single Life Benefit because the total monthly 

payments are expected to be paid over two lifetimes. The reduction for this Benefit Payment 

Option is based on the age difference between the Participant and Joint Annuitant. See pages 19 

and 26 for the reduction applicable at various age differences. 

Single Life Benefit – A monthly pension benefit is payable for the Participant’s lifetime only. 

No other amounts are payable to anyone following the Participant’s death. This is the normal 

form of benefit payment for an unmarried Participant.

Board of Trustees – The group of individuals who operate the Fund and Plan, consisting of an equal 

number of Union representatives and Employer representatives. 

Canadian Plan – The Musicians’ Pension Fund of Canada. 

Collective Bargaining Agreement – Any collective bargaining, participation, or other written agreement 

acceptable to the Board of Trustees requiring an Employer to make contributions to the Fund on behalf of 

its employees. 

Covered Earnings – Earnings in Covered Employment on which your Employer is required to make 

contributions to the Fund. Covered Earnings are limited to scale wages, as defined in the applicable 

Collective Bargaining Agreement. 

Covered Employment – Employment with an Employer for which the Employer is required to make 

contributions to the Fund. 

Disability Pension Benefit – The pension benefit that a Participant who has at least 10 years of Vesting 

Service is entitled to receive upon leaving Covered Employment due to a Total Disability. 

Employer – An employer acceptable to the Trustees that is obligated to make contributions to the Fund 

on behalf of its employees under the terms of a Collective Bargaining Agreement. For most purposes 

AFMEPF0590
64

under the Plan, an Employer includes related entities that are part of the same “control group”. Contact 

the Fund Office for details. 

Fund – The American Federation of Musicians and Employers’ Pension Fund, which is the trust fund that 

funds the Plan. 

Fund Office – The Fund’s administrative office. See page 70 for contact information. 

Initial Pension Benefit – A Regular Pension Benefit or a Disability Pension Benefit. 

Joint Annuitant – A Participant’s Spouse or other designated individual who continues to receive 

pension benefit payments after the Participant’s death under the 50% or 75% Joint and Survivor Benefit 

form of payment. 

Married – Legally married. 

Normal Retirement Age – Age 65 or, if later, the date on which a Participant completes five years of 

participation in the Plan on or after April 1, 1988 (Subject to the Break in Service rules beginning on page 

8), and is an Active Participant in that calendar year. 

One-year Break in Service – Generally, any calendar year in which a Participant fails to earn at least 

one-quarter year of Vesting Service. See page 8 for details. 

Participant – An Active Participant, a former Active Participant who is receiving a benefit from the 

Fund, or a former Active Participant who has a vested benefit from the Plan but has not yet begun to 

receive payment of that benefit. 

Pension Effective Date – The first day of the first month for which you receive your pension benefit. 

See Applying for Your Pension Benefit - The Two-Part Pension Application on page 41 for additional 

details. 

Permanent Break in Service – Five consecutive One-year Breaks in Service. 

Plan – The written American Federation of Musicians and Employers’ Pension Plan. 

AFMEPF0591
65

Pre-retirement Death Benefit – The benefit payable to the surviving Spouse or other Beneficiary of a 

vested Participant who dies before he or she begins to receive a pension benefit. 

Qualified Domestic Relations Order (QDRO) – A QDRO is a court domestic relations decree, order or 

judgment issued pursuant to state domestic relations law and relating to the provision of child support, 

alimony or marital property rights that recognizes or creates your Spouse’s, former Spouse’s, child’s, or 

other dependent’s right to (or assigns such person the right to receive) all, or a portion of, your benefits 

under the Plan. 

Re-determination Benefit – The additional pension benefit that may become payable to a Participant 

who has Covered Employment after beginning to receive an Initial Pension Benefit and after his or her 

Normal Retirement Age. 

Regular Pension Benefit – The benefit that a vested Participant becomes eligible to receive at Normal 

Retirement Age or upon earlier retirement from Covered Employment at or after age 55. 

Re-retirement Pension Benefit – The additional pension benefits that may become payable to a 

Participant who has Covered Employment after beginning to receive an Initial Pension Benefit and 

before age 65. 

Retirement Account Benefit – Also known as RAB, a benefit based on qualified contributions made on 

behalf of a Participant before 1968. 

Spouse – A person to whom a Participant is legally Married. 

Total Disability – A Participant’s permanent and total inability to engage in Covered Employment as a 

result of a medically diagnosed physical or mental disease or injury, as determined by the Administrative 

Committee in its sole and absolute discretion. 

Union – The American Federation of Musicians of the United States and Canada, AFL-CIO and any local 

union affiliated therewith. 

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Vesting Service – Service by a Participant for an Employer that counts toward the Participant’s becoming 

vested in pension benefits from the Plan. Vesting Service is generally determined based on the amount of 

the Participant’s Covered Earnings during a particular calendar year. 

AFMEPF0593
67

APPENDIX A: PARTICIPATION, VESTING AND BREAKS IN SERVICE 

BEFORE 2004 

Participation and Vesting Service 

1959 – 1976 

Participation in the Plan required $300 in Covered Earnings in a calendar year. You received a onequarter year of Vesting Service for each $300 of Covered Earnings during a calendar year (up to an 

annual maximum of one year of Vesting Service) as follows: 

Covered Earnings in a Calendar Year Years of

At Least Less Than Vesting Service

$ 0 $ 300 0

$ 300 $ 600 1/4

$ 600 $ 900 1/2

$ 900 $ 1,200 3/4

$ 1,200 N/A 1

1977 – 2003

Participation in the Plan required $375 in Covered Earnings in a calendar year. You received a onequarter year of Vesting Service for each $375 of Covered Earnings during a calendar year (up to an 

annual maximum of one year of Vesting Service) as follows: 

Covered Earnings in a Calendar Year Years of

At Least Less Than Vesting Service

$ 0 $ 375 0

$ 375 $ 750 1/4

$ 750 $ 1,125 1/2

$ 1,125 $ 1,500 3/4

$ 1,500 N/A 1

This schedule continues to apply if you had three or more years of Vesting Service as of December 31, 

2003 (unless you have a Permanent Break in Service after 2003 and before you are vested). 

Example: You had four years of Vesting Service as of January 1, 2004. In 2004, you earned $300 in 

Covered Earnings, which results in a One-year Break in Service. In 2005, you earned $2,000. Because 

AFMEPF0594
68

you continued to vest under the pre-2004 schedule, you received an additional full year of Vesting 

Service in 2005 and you became vested. 

To Be Vested Before 1986 

If you have no Vesting Service after 1986, you must have completed 10 years of Vesting Service to be 

vested. 

Permanent Break in Service Rules Before 2004 

Before 1976 

If you had at least three consecutive One-year Breaks in Service before earning at least 10 years of 

Vesting Service (were vested), you had a Permanent Break in Service unless: 

 you had at least one year of Vesting Service in or after the year you turned 34, and 

 at the time that you left Covered Employment, you had at least five years of Vesting Service and 

contributions of at least $1,600. 

1976 through 1984 

If you left Covered Employment before earning at least 10 years of Vesting Service (were vested), you 

had a Permanent Break in Service if, before you left, your years of Vesting Service were less than your 

consecutive One-year Breaks in Service. 

1985 through 1986 

If you had at least one-quarter year of Vesting Service after 1984 and less than one-quarter year of 

Vesting Service after 1986, you had a Permanent Break in Service if you left Covered Employment 

before earning at least 10 years of Vesting Service and your consecutive One-year Breaks in Service 

equaled or exceeded the greater of five, or the number of your prior years of Vesting Service. 

AFMEPF0595
69

APPENDIX B: SPECIAL FEATURES OF CERTAIN BENEFITS THAT 

BEGAN BEFORE JUNE 1, 2010 

If your Pension Effective Date was before June 1, 2010, there are some additional features of your benefit 

that could apply after your death, depending on how long you have been receiving your pension benefit at 

your date of death. 

Single Life Benefit – If your pension benefit is being paid as a Single Life Benefit and a portion of your 

pension benefit is based on contributions earned prior to January 1, 2004, there is a guaranteed amount of 

100 times the benefit earned for Covered Employment before 2004. Contact the Fund Office for a 

statement of any remaining balance of the guarantee. 

50% Joint and Survivor Benefit – If you elected a 50% Joint and Survivor Benefit, any portion of your 

monthly pension benefit that is based on contributions earned prior to January 1, 2004 (the “pre-2004 

benefit amount”) includes a 60-month guarantee and a Pop-up Feature. Under the 60-month guarantee, if 

both you and your Spouse die before receiving a total of 60 months of payments, your designated 

Beneficiary will receive a monthly payment for each of the remaining months equal to the pre-2004 

benefit amount that you would have received if you had elected a Single Life Benefit at your Pension 

Effective Date. Under the Pop-up Feature, if your Spouse dies before you and within five years of your 

Pension Effective Date, your future pre-2004 benefit amount will increase to what it would have been if 

you had elected a Single Life Benefit at your Pension Effective Date. 

 

AFMEPF0596
70 

American Federation of Musicians and Employers’ Pension Fund 

CONTACT INFORMATION 

FUND OFFICE 

Located at 14 Penn Plaza, 12th Floor, New York, NY 10122 

Mailing Address: P.O. Box 2673, New York, NY 10117-0262 

Telephone Numbers: 212-284-1200

800-833-8065

Customer Service: 212-284-1311

800-833-8065 extension 1311

Fax Lines: 212-284-1300

212-284-1298 – Pension Dept.

Website: www.afm-epf.org

BOARD OF TRUSTEES 

Employer Trustees

Christopher J. G. Brockmeyer

Andrea Finkelstein

Elliot H. Greene

Robert W. Johnson

Lynne Pratt

Alan H. Raphael

Jeff Ruthizer

Bill Thomas

Union Trustees 

Augustino Gagliardi 

Raymond M. Hair, Jr.

Gail Kruvand

 Gary Matts 

William Moriarity 

Brian F. Rood 

Laura Ross 

Vince Trombetta 

EXECUTIVE DIRECTOR 

Maureen B. Kilkelly 

LEGAL COUNSEL 

Cohen, Weiss and Simon LLP 

Proskauer Rose LLP

CONSULTANTS AND ACTUARIES 

Milliman, Inc. 

CERTIFIED PUBLIC ACCOUNTANT 

 WithumSmith+Brown, P.C. 

INDEPENDENT MONITORING FIDUCIARY

Meketa Investment Group 

OUTSOURCED CHIEF INVESTMENT OFFICER

Cambridge Associates, LLC

AFMEPF0597
71

Printed by PDI 

973.736.7600 

AFMEPF0598

Fund 
 Fund

American Federation 

of Musicians & 

Employers’ Pension Fund 

P.O. Box 2673 

New York, NY 10117-0262 

(212) 284-1200 

Fax (212) 284-1300 

www.afm-epf.org

1 

 May 31, 2018 

SUMMARY OF MATERIAL MODIFICATIONS

This notice contains important information regarding changes to the Plan (“Plan”) of the 

American Federation of Musicians and Employers’ Pension Fund (“Fund”). This Summary of 

Material Modifications (“SMM”) is issued to notify you of these changes, and revises the Fund’s 

Summary Plan Description (“SPD”), which was previously distributed to you. The SPD and a 

copy of this SMM are also available on the Fund’s website at https://www.afm-epf.org/. Please 

keep this notice for your records. 

Disability Pension Benefit Changes effective April 1, 2018

The Trustees have made certain changes to the Fund’s Disability Pension claims procedures, 

effective for all claims filed on or after April 1, 2018, to comply with new federal regulations 

applicable to employee benefit plans that provide a disability benefit. For ease of review, we 

have described the Fund’s disability claim procedure below, which includes provisions that were 

already in effect as well as provisions that are new. 

In general, Disability Pension claims are treated the same as any claim for a pension benefit. 

The Fund’s claims and appeals rules are described on pages 47-49 of the SPD. There are some 

differences between a Disability Pension claim and a regular pension claim, explained below. 

The Participant will be notified of the initial decision on a Disability Pension claim within a 

reasonable period of time, but no later than 45 days after the claim is filed, unless additional time 

is required due to matters beyond the control of the Fund, in which case the Fund will notify the 

Participant before the end of the initial 45 days of the need for an extension. In that case, the 

Participant shall receive written notification explaining the circumstances requiring the 

extension, the standards on which entitlement to a benefit is based, the unresolved issues that 

prevent decision on the claim and the additional information needed to resolve those issues, and 

the date by which the Fund expects to render a decision. The extension may be for up to 30 days 

and, if necessary, the Fund may take a second extension of up to 30 days, with the same 

notification to be provided prior to the expiration of the first 30-day extension. Any additional 

extensions will only be with the Participant’s consent. If any extension of the time is due to the 

Participant’s failure to submit information necessary to decide the claim, the Participant shall be 

given at least 45 days to provide any information requested, and the period for making the 

determination will be tolled (frozen) from the date on which the extension notice is sent to the 

date on which the claimant responds to the request for information. 

AFMEPF0599
 

2 

If the Fund denies a Disability Pension and the denial is based on a medical judgment, the Fund 

will consult with a health care professional who has appropriate training and experience in the 

field of medicine involved in the medical judgment, and, in the case of an appeal, who was 

neither consulted in connection with the initial benefit determination nor is the subordinate of 

any person who was consulted in connection with that determination. The notice of the denial 

will include, among other things, the internal provisions of the Plan, if any, which were relied 

upon in denying the claim or, alternatively, a statement that such provisions of the Plan do not 

exist. They will also include a discussion of the decision, including an explanation of any 

disagreement or decision not to follow (1) the views presented by the Participant’s health care 

and vocational professionals, (2) the views of medical or vocational experts whose advice was 

obtained on behalf of the Fund, whether or not the advice was relied upon in making the benefit 

determination, or (3) a Social Security Administration disability determination. The Fund’s 

explanation will be presented in a culturally and linguistically appropriate manner. If the adverse 

benefit determination is based on a decision about medical necessity or experimental treatment 

or similar exclusion or limit, either an explanation of the scientific or clinical judgment for the 

determination, applying the terms of the Plan to the claimant’s medical circumstances, or a 

statement that such explanation will be provided free of charge upon request. The notice will 

also identify any medical or vocational expert whose advice was obtained on behalf of the Plan 

in connection with a denial, without regard to whether the advice was relied upon in making the 

benefit determination. The notice will also contain a statement that the Participant is entitled to 

receive, upon request and free of charge, reasonable access to, and copies of, all documents, 

records, and other information relevant to the claimant’s claim for benefits. 

If a Disability Pension claim is denied, the deadline for the claimant to appeal the decision is 180 

days after receipt of the written notice of the denial. As with all pension claims, if the denial is 

based on any internal rule or guideline, the notice of the denial either will explain the rule or will 

state that it was relied upon and will be provided free of charge to the Participant upon request. 

Further, in any appeal, the Administrative Committee, which considers appeals, will consider the 

appeal de novo, meaning without any deference to the initial benefit denial and the Committee 

will not include any person who participated in the initial benefit denial or who is the subordinate 

of a person who participated in the initial benefit denial. The notice of any denied appeal will 

contain, in addition to the items provided in a notice of denial, a description of any applicable 

contractual limitations period that applies to the claimant’s right to file the claim in court, 

including the date on which the contractual limitations period expires for the claim. 

Before the Plan issues a notice of the denial of an appeal, the Plan will provide the Participant, 

free of charge, with any new or additional evidence considered, relied upon, or generated by the 

Administrative Committee in connection with the appeal or any new or additional rationale 

relied upon by the Administrative Committee. The information must be provided as soon as 

possible and sufficiently in advance of the date on which the notice of the denial is required to be 

provided to give the Participant a reasonable opportunity to respond prior to that date. 

Disability Pension Benefit Changes effective June 1, 2018

The Trustees have made certain changes to the Fund’s Disability Pension Benefit requirements. 

However, these benefit changes will not apply to a disability pension benefit with a pension 

effective date no later than September 1, 2018, if Part 1 of the application for a disability pension 

AFMEPF0600
 

3 

benefit is postmarked (or received in the Fund Office, in the case of an application delivered by 

fax, email or by hand) on or before June 1, 2018. 

Prior to these changes, as set forth on page 24 of the SPD, Participants have been eligible for a 

Disability Pension if they: 

(1) file a complete application with the Fund Office; 

(2) stop working in Covered Employment because of a condition of Total Disability; 

(3) have at least 10 years of Vesting Service; 

(4) have not started to receive a Regular Pension Benefit; and 

(5) are determined to have a Total Disability by the Administrative Committee of the Board of 

Trustees. 

All of those requirements still apply, but the Trustees have added the following additional 

requirements that a Participant must meet to be eligible for a Disability Pension Benefit. To be 

eligible for a Disability Pension Benefit, a Participant must also: 

(1) not be eligible, on his or her Pension Effective Date (described on pages 42-43 and 64 of the 

SPD), for a Regular Pension Benefit (described starting on page 12 of the SPD); and 

(2) have earned at least 1 Year of Vesting Service (described starting on page 7 of the SPD and 

on page 66) in the three calendar year period immediately preceding the Pension Effective Date. 

In other words, in addition to the requirements already applicable to a Disability Pension, the 

Trustees have added two further requirements. First, if you are eligible to receive a Regular 

Pension Benefit (described on page 14 of the SPD), you are not eligible for a Disability Pension 

Benefit. Second, you must have earned at least 1 Year of Vesting Service in the three calendar 

years before you start your pension. 

For your reference, “Total Disability” is the Participant’s total and permanent inability to work in 

Covered Employment as a result of a medically diagnosed physical or mental disease or injury or 

the Participant’s terminal illness, as determined by the Administrative Committee in its sole 

discretion. 

Changes for Legal Actions Effective February 16, 2018

In order to reduce the Fund’s expenses, the Trustees have also amended the Plan to provide that 

any legal action seeking any remedy against the Plan, the Fund, the Trustees, or any employee or 

representative of the Plan or Fund must be brought in the United Stated District Court for the 

Southern District of New York in Manhattan or the appropriate New York State Court in 

Manhattan, if applicable. 

As always, if you have any questions concerning these changes or the Fund, please contact the 

Fund in writing using ‘Contact Us’ available on the Fund’s website at www.afm-epf.org or at 

212-284-1200 Option 2 for the Pension Department. 

Sincerely, 

The Board of Trustees 

AFMEPF0601
4

This SMM does not restate all of the terms and provisions of the Plan or SPD and does not affect

any benefit other than the ones discussed above. All other terms of the Plan remain in effect, and

if any provision is inconsistent, the terms of the Plan govern. The Board of Trustees reserves the

right, in its sole and absolute discretion, to interpret and decide all matters under the Plan. The

Board also reserves the right in its sole and absolute discretion, and subject to applicable law, to

amend, modify, or terminate the Plan or any benefits provided under the Plan (or eligibility for

such benefits), in whole or in part, at any time and for any reason.

ERISA Information

Plan Sponsor: Board of Trustees of the American Federation of Musicians and Employers’

Pension Fund

Sponsor’s EIN Number: 51-6120204

Plan Number: 001

Plan Year: April 1 to March 31

Union Trustees Employer Trustees

Raymond M. Hair, Jr. Christopher J.G. Brockmeyer

Augustino Gagliardi Alan H. Raphael

William Moriarity Andrea Finkelstein

Brian Rood Bill Thomas

Gary Matts Elliot H. Greene

Laura Ross Jeff Ruthizer

Vince Trombetta Robert W. Johnson

Phillip E. Yao

AFMEPF0602
1 

IMPORTANT NOTICE OF BENEFIT CHANGE 

To: Participants 

From: Board of Trustees 

Re: Benefit Change Effective August 1, 2018 

Date: July 16, 2018 

This notice contains important information about your future benefit accruals under the American Federation of 

0XVLFLDQVDQG(PSOR\HUV¶3HQVLRQ)XQGWKH3Plan ́ Please read it carefully and keep it with a copy of your 

Summary Plan Description. 

2018 Update to the Rehabilitation Plan Requiring 10% Non-Benefit Bearing Employer Contribution 

Increase 

$WWKHLUUHFHQWPHHWLQJWKH7UXVWHHVDGRSWHGDQ8SGDWHWRWKH5HKDELOLWDWLRQ3ODQ38SGDWH ́WRUHTXLUHDQRQbenefit bearing 10% increase in the rate of contributions currently being paid by employers on scale wages. The 10% 

increase is in addition to the 9% increase required by the 2010 Rehabilitation Plan as well as any other increases 

negotiated by the bargaining parties. In general, the new 10% required increase in the rate of contributions must be 

included in the successor to any collective bargaining agreement (or extension of that collective bargaining agreement) 

that expires on or after August 1, 2018. 

The required 10% increase in the rate of contributions will be non-benefit bearing. What that means is that the amounts 

paid to the Fund as a result of the 10% increase in the rate of contributions will be used solely to improve the financial 

health of the Fund. Those amounts will not be considered when calculating your pension benefit and therefore will not 

increase future benefit payments to you. The reason you are receiving this notice is that this is a change from other 

contributions based on scale wages, including the previous required 9% increase in the rate of contributions under the 

2010 Rehabilitation Plan, all of which are considered in calculating your pension benefits. 

As you knowWKH)XQGKDVEHHQFHUWLILHGLQ3FULWLFDOVWDWXV ́DOVRNQRZQDVWKH3UHG]RQH ́XQGHUWKH Pension Protection 

Act of 2006 333$ ́VLQFH In accordance with the PPA, on April 15, 2010, the Board of Trustees adopted a 

UHKDELOLWDWLRQSODQWKH35HKDELOLWDWLRQ3ODQ ́ requiring the bargaining parties to agree to what was ultimately a 9% 

increase in the rate of contributions paid by employers on scale wages effective June 1, 2010 and eliminating certain soFDOOHG3DGMXVWDEOH ́EHQHILWVIRUSDUWLFLSDQWVQRW\HWLQSD\VWDWXVThe Rehabilitation Plan was updated in 2016 to restate 

the objective of the Rehabilitation Plan as forestalling insolvency. For a copy of the 2016 Rehabilitation Plan, you can 

go to this link (www.afm-epf.org/RehabPlan.aspx). 

Calculating Your Pension Benefits Before and After the 2018 Update Applies to You 

Generally, your monthly pension benefit is computed by multiplying each $100 of contributions credited on your behalf 

for each Benefit Period (rounded to the nearest $100 of contributions) by a specified dollar amount (called the 

30XOWLSOLHU ́based on your age on your Pension Effective Date as further described in the Appendix. Below is a table 

showing the Multiplier at various ages for the Benefit Period covering contributions earned on and after January 1, 2010. 

After the 2018 Update becomes effective for your collective bargaining agreement, the same calculation based on the 

table below will apply. However, when the Plan calculates each $100 of contributions credited on your behalf, it will not 

American Federation 

of Musicians & 

Employers’ Pension Fund 

P.O. Box 2673 

New York, NY 10117-0262 

(212) 284-1200 

Fax (212) 284-1300 

www.afm-epf.org

AFMEPF0603
2 

count the portion of the contributions attributable to the 10% increase in the rate of contributions required by the 2018 

Update. 

Current Benefit Multiplier by Age at Pension Effective Date 

Payable as a Single Life Benefit 

Age 

Contributions Earned on and after 

January 1, 2010 

Benefit Period E

65 or older $ 1.00 

64 $ 0.90 

63 $ 0.80 

62 $ 0.72 

61 $ 0.65 

60 $ 0.59 

59 $ 0.53 

58 $ 0.49 

57 $ 0.44 

56 $ 0.40 

55 $ 0.37 

The Appendix shows the Multiplier for earlier Benefit Periods. For periods prior to the effective date of the 2018 

Update to the collective bargaining agreement under which your work is performed, there is no change in your benefits 

as described in the table above or the Appendix. 

Here is an example showing the effect of the 2018 Update on the pension calculation for a participant with: 

(i) $10,000 of total contributions earned after January 1, 2010 and before the 2018 Update becomes 

effective for the SDUWLFLSDQW¶V collective bargaining agreement, and 

(ii) $11,000 of total FRQWULEXWLRQVHDUQHGDIWHUWKH8SGDWHEHFRPHVHIIHFWLYHIRUWKHSDUWLFLSDQW¶V

collective bargaining agreement. 

Note that all of the benefit amounts in this example are the monthly amounts payable at normal retirement age (generally, 

age 65) in the form of a Single Life Benefit: 

/HW¶VVWDUWZLWKLWHPL± WKHFRQWULEXWLRQVHDUQHGEHIRUHWKH8SGDWHEHFRPHVHIIHFWLYHIRUWKHSDUWLFLSDQW¶V

collective bargaining agreement. Since all of the contributions were earned during Benefit Period E, there is only one 

applicable Multiplier and only one calculation for the $10,000 of total contributions earned before that effective date as 

illustrated below: 

(i) $10,000 divided by 100 = 100 times $1.00 = $100 

1RZOHW¶VDGGLWHPLLDERYH± the contributions earned after WKH8SGDWHEHFRPHVHIIHFWLYHIRUWKHSDUWLFLSDQW¶V

collective bargaining agreement. In our example, following the effective date of the 2018 Update for the SDUWLFLSDQW¶V

collective bargaining agreement, the participant earns another $11,000 in total contributions. The calculation looks like 

this: 

AFMEPF0604
3 

(ii) $11,000 = $10,000 that would have been contributed absent the 2018 Update 

 + $1,000, the non-benefit bearing 10% increase required by the 2018 Update 

$10,000 divided by 100 = 100 times $1.00 = $100 

Total Benefit (i) + (ii) $100 +$100 = $200 monthly benefit payable at normal retirement age in the 

form of a Single Life Benefit 

Had the Rehabilitation Plan not been amended, the individual's monthly benefit would have been determined as 

follows: 

(i) $10,000 divided by 100 = 100 times $1.00 = $100 (no change), and 

(ii) $11,000 divided by 100 = 110 times $1.00 = $110 

Total Benefit (i) + (ii) $100 +$110 = $210 monthly benefit payable at normal retirement age in 

the form of a Single Life Benefit 

Note that there is no change to the calculation of the accrued benefits earned prior to the effective date 

of the 2018 Update. 

There is a special rule if you work for a new employer under a new collective bargaining agreement effective on or after 

August 1, 2018. Since those employers are new, their contribution rate will be split up into a base amount that is benefitbearing and an additional 10% of that base amount that does not count toward your benefit amount. The way the math 

works out, the amount that does not increase your benefits is 9.09% of the total rate. For example, if you earn $10,000 in 

total contributions working for a new employer with a new collective bargaining agreement effective October 1, 2018, 

your future benefit will be calculated based on $9,091 in contributions. The remaining $909 in contributions will not 

count toward benefits. 

* * * * * * * 

This notice is required to be furnished to you pursuant to Section 204(h) of the Employee Retirement Income Security 

$FWRIDVDPHQGHG3(5,6$ ́DQG6HFWLRQ)RIWKHInternal Revenue Code. This notice also constitutes a 

summary of material modifications under Sections 102(a) and 104(b) of ERISA. 

AFMEPF0605
4 

Appendix 

How a Regular Pension Benefit is Calculated 

Generally, your monthly pension benefit is computed by multiplying each $100 of contributions credited on 

your behalf for each Benefit Period (rounded to the nearest $100) by a specified dollar amount based on your 

age on your Pension Effective Date. This specified dollar amount is known as the benefit multiplier 

(30ultiplier ́). The benefit amounts for each Benefit Period are then added together to produce the monthly 

amount payable for your lifetime. (The table below shows monthly payments under the Single Life Benefit 

form of benefit payment. If you choose another form of payment when you start your benefit, the monthly 

pension will be reduced to pay for the survivor benefit.) 

There are five different Multipliers corresponding to different time periods and adjusted for age at Pension 

Effective Date as shown below. 

AFMEPF0606

Benefit Multipliers by Benefit Period and Age at Pension Effective ·oate 

payable as a Single Ufe Benefit 

Contributions 

Contributions Contributions Earned From 

Age at Contributions Earned From Earned From Mayl, 2009 Contributions 

Pension Earned Through January 1, 2004 April 1, 2007 Through Earned on and 

Effective December 31, Through March Through April December 31, afte~ January 1, 

Date 2003 31, 2007 30, 2009 2009 2010 

Benefit Period A Benefit Period B Benefit Period C Benefit Period D Benefit Period E 

65 or older $ 4.65 $ 3.50 $ 3.25 $ 2.00 $ 1.00 

64 $ 4.16 $ 3.13 $ 2.91 $ 1.79 $ 0.90 

63 $ 3.75 $ 2.82 $ 2.62 $ 1.61 $ 0.80 ; 

62 $ 3.36 $ 2.53 $ 2.35 $ 1.45 $ 0.72 

61 $ 3.04 $ 2.29 $ 2.13 $ 1.31 $ 0.65 

60 $ 2.75 $ 2.07 $ 1.92 $ 1.18 $ 0.59 

59 $ 2.48 $ 1.87 $ 1.74 $ 1.07 $ 0.53 

58 $ 2.26 $ 1.70 $ 1.58 $ 0.97 $ 0.49 

57 $ 2.05 !Ii 1.54 !Ii 1.43 !Ii 0.88 !Ii 0.44 

56 $ 1.86 $ 1.40 $ 1.30 $ 0.80 $ 0.40 

55 $ 1.70 $ 1.28 $ 1.19 $ 0.73 $ 0.37 
Exhibit 7.06(2) 

IRS Determination Letter

AFMEPF0607
AFMEPF0608

INTERNAL REVENUE SERVICE 

P. 0. BOX 2508 

CINCINNATI, OH 45201 

Date: FEB O 4 2016 

BOARD OF TRUSTEES OF THE AFM AND 

EMPLOYERS PENSION FUND 

C/O BREDHOFF & KAISER PLLC 

ANNE R MAYERSON 

805 15TH ST, NW STE 1000 

WASHINGTON, DC 20005 

Dear Applicant: 

DEPARTMENT OF THE TREASURY 

Employer Identification Number: 

51-6120204 

DLN: 

17007043170025 

Person to Contact: 

CLARICE ALEXANDER 

Contact Telephone Number: 

(443) 853-5527 

Plan Name: 

ID# 52722 

AMERICAN FEDERATION OF MUSICIANS 

AND EMPLOYERS PENSION PLAN 

Plan Number: 001 

Based on the information you provided, we are issuing this favorable 

determination letter for your plan listed above. However, our favorable 

determination only applies to the status of your plan under the Internal 

Revenue Code and is not a determination on the effect of other federal or local 

statutes. To use this letter as proof of the plan's status, you must keep this 

letter, the application forms, and all correspondence with us about your 

application. 

Your determination letter does not apply to any qualification changes that 

become effective, any guidance issued, or any statutes enacted after the dates 

specified in the Cumulative List of Changes in Plan Requirements (the 

Cumulative List) for the cycle you submitted your application under, unless the 

new item was identified in the Cumulative List. 

Your plan's continued qualification in its present form will depend on its 

effect in operation (Section 1.401-1 (b) (3) of the Income Tax Regulations). We 

may review the status of the plan in operation periodically. 

You can find more information on favorable determination letters in Publication 

794, Favorable Determination Letter, including: 

The significance and scope of reliance on this letter, 

The effect of any elective determination request in your application 

materials, 

The reporting requirements for qualified plans, and 

Examples of the effect of a plan's operation on its qualified status. 

You can get a copy of Publication 794 by visiting our website at 

www.irs.gov/formspubs or by calling 1-800-TAX-FORM (1-800-829-3676) to request 

a copy. 

This determination letter applies to the amendments dated on 

12/30/14 & 4/4/14. 

This determination letter also applies to the amendments dated on 

Letter 5274 
AFMEPF0609

- 2 -

BOARD OF TRUSTEES OF THE AFM AND 

11/7/13 & 8/8/13. 

This determination letter also applies to the amendments dated on 

2/14/13 & 2/16/12. 

We made this determination on the condition that you adopt the proposed 

amendments you submitted in your letter dated 1/15/16, on or 

before the date the Income Tax Regulations provide under Section 401(b) of the 

Internal Revenue Code. 

The information on the enclosed addendum is an integral part of this 

determination. Please be sure to read it and keep it with this letter. 

If you submitted a Form 2848, Power of Attorney and Declaration of 

Representative, or Form 8821, Tax Information Authorization, with your 

application and asked us to send your authorized representative or appointee 

copies of written communications, we will send a copy of this letter to him or 

her. 

If you have any questions, you can contact the person listed at the top of this 

letter. 

Sincerely, 

Karen D. Truss 

Director, EP Rulings & Agreements 

Addendum 

Letter 5274 
AFMEPF0610

- 3 -

BOARD OF TRUSTEES OF THE AFM AND 

This determination letter does not apply to any portions of the document that 

incorporate the terms of an auxiliary agreement (collective bargaining, 

reciprocity, or participation agreement), unless you append to the plan 

document the exact language of the sections that you incorporated by reference. 

This determination letter applies to the provisions for the qualification 

requirements under the IRC, and does not apply to the addendum for the 

qualification requirements under the Puerto Rico Internal Revenue Code. 

Letter 5274