APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

1.35. “Vesting Hours” are computed for Covered Employment and Non-Covered Vest-
ing Employment in the same manner as Hours of Covered Employment.

1.36 “Vesting Service Year” means a Plan Year commencing in 1976 or thereafter dur-
ing which an Employee earns 1000 or more Vesting Hours and, for service prior thereto each
year (or part thereof) of Credited Service that had not been cancelled as that Credit was defined
in the Plan as it existed on the last day of the Plan Year which commenced in 1975, If a Partici-
pant earns more than 280 Vesting Hours in a Plan Year through April 30, 1996, he shall receive
1/10" Vesting Service Year for each full unit of 140 Vesting Hours up to 1000 Hours. Effective
May 1, 1996, if a Participant earns more than 280 Vesting Hours in a Plan Year, he shall receive
1/20" Vesting Service Year for each full unit of 70 Vesting Hours, up to 1000 Hours.

SECTION 2: PARTICIPATION

2.01 Commencement of Participation. Every Employee shall become a Participant
upon commencement of work in Covered Employment during a Plan Year.

2.02 Prior Participation and Benefit Accruals. Each person who was a Participant in
the Plan as it existed on the last day of the Plan Year which commenced in 1975, shall continue
to be covered under this Plan as a Participant in the same status as existed at that time, and the
Participant’s Accrued Benefit shall be the amount accrued as of the last day of the Plan Year
which commenced in 1975.

2.03 Categories of Participants. Each person who is or becomes a Participant under
Parts 2.01 or 2.02 shall be categorized in one of the following categories:

(A) Active Participant. Each new Participant shall be an Active Participant
until his/her status changes. Each Employee who had uncancelled Credited Service as of
the last day of the Plan Year commencing in 1975, other than a Pensioner, shall be con-
sidered an Active Participant until his/her status changes. Each Participant who returns to
Covered Employment from another category of participation shall become an Active Par-
ticipant. Each Active Participant shall accrue Future Service Credits and may also accrue
Vesting Service Years or Divesting Service Years. An Active Participant's status shall
cease or change upon the earliest of

qd) His/her death; or

(2) Permanent Disability and entitlement to a Disability Pension; at
which time he/she shall become a Disabled Participant; or

(3) His/her retirement, at which time he/she may, if otherwise quali-
fied, become a Pensioner; or

CM94:00543


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

by an Employee whenever the employer contributions for those hours are reciprocated on the
Employee's behalf by this Fund to other pension plans under a reciprocal agreement.

1.17. “Highly Compensated Employee” means a highly compensated active Employee
and a highly compensated former Employee. Whether an individual is a Highly Compensated
Employee is determined separately with respect to each Employer, based solely on that individu-
al's compensation from that Employer and relationship to that Employer.

(A) A Highly Compensated Active Employee is an Employee of the Employer who:

qd) was a 5-percent owner; as defined below, at any time during the Plan Year
or preceding year; or

(2) for the preceding year, had compensation, as defined below, from the Em-
ployer in excess of $80,000.

The $80,000 amount shall be subject to adjustment in the same manner and at the
same time as provided for by the Secretary under Internal Revenue Code Section 415(d),
using the calendar quarter ending September 30,1996 as the base period.

(B) For Plan Years beginning before July 1, 1997, a Highly Compensated Active
Employee is an Employee of the Employer who performs services for the
Employer during the Plan Year and who during the Plan Year or the preceding
year:

qd) was a 5-percent owner;

(2) received compensation from the Employer in excess of the amount under
Internal Revenue Code Section 414(q)(1)(B) (as then in effect), as adjusted;

(3) received compensation from the Employer in excess of the amount under
Internal Revenue Code Section 414(q)(1)(C) (as then in effect), as adjusted and who was
a member of the top-paid group for that Plan Year within the meaning of Internal Reve-
nue Code Section 414(q)(4) (as then in effect); or

(4) was an officer of the Employer and received compensation from the Em-
ployer in an amount greater than 50% of the dollar limitation in effect for that Plan Year
under Internal Revenue Code Section 415(b)(1)(A). If no officer received compensation
in the determination year or the preceding year at the level described in the preceding
sentence, the officer who received the highest compensation from the Employer in that
year shall be treated as a Highly Compensated Active Employee.

For purpose of determining officers under (4), above, the number of officers shall be lim-
ited to the lesser of (i) 50 Employees, or (ii) the greater of three Employees or 10 percent of all

CM94:00537


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

(G) _ Pensioner. Each Participant shall become a Pensioner when he/she attains
the age and Credited Service and otherwise meets all of the conditions required for re-
tirement benefits under this Plan. The term Pensioner shall include a Participant's Eligible
Spouse or other Beneficiary who shall become eligible for retirement benefits. Each per-
son, who was a Pensioner under this Plan as it existed on the last day of the Plan Year
commencing in 1975, shall continue to be covered as a Pensioner and shall receive the
same benefits to which he/she was then entitled. The term Pensioner shall include those
receiving a disability pension.

No Pensioner shall accrue either Vesting Service Years or Future Service Credits,
unless he/she again qualifies for additional years and credits under Section 4.05.

A Pensioner's status as a Pensioner shall terminate at his/her death or requalifica-
tion as an Active Participant, under Section 4.05.

(H) Vested Former Participant. When a Participant has accrued 5 Credited
Vesting Service Years, provided the Participant has at least one (1) Hour of Covered Em-
ployment after May 1, 1998, otherwise 10 Credited Vesting Service Years, if his/her par-
ticipation is pursuant to a Collective Bargaining Agreement, or 5 Credited Vesting Ser-
vice Years, if his/her participation is not pursuant to a Collective Bargaining Agreement,
and has completed an Extension Period, he/she shall be a Vested Former Participant. A
Participant's status as a Vested Former Participant shall cease immediately following the
earliest of:

(1) His/her death; or
(2) His/her becoming a Pensioner, if otherwise qualified; or

(3) The first day of the month following the date he/she works 500
Hours of Covered Employment in the Plan Year; or

(4) The date the Plan is terminated.
Benefits for Vested Former Participants shall be calculated as follows:

(5) Maintenance of Benefit Rate. A Vested Former Participant who is
otherwise qualified shall receive upon retirement a pension at the rate in effect at
the time he/she became a Vested Former Participant provided he/she is otherwise
qualified for the rate, otherwise the rate he/she is qualified for, for all Credited
Service earned up to that time.

(6) Return to Covered Employment. Should a Vested Former Partici-
pant subsequently return to Covered Employment prior to becoming a Pensioner,
his/her pension will be paid in part at the rate set forth in paragraph (1) above, and

CM94:00547


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

(C) | The Covered Employer has failed to make the installment payment within
sixty (60) days after receipt of the notice of non-payment from the Fund; the default date
will be the sixtieth (60") day after the Covered Employer’s receipt of the notice of non-
payment, unless payment is received by the Fund by then; or

(D) There is a filing or commencement by the Covered Employer, or the filing
or commencement against the Covered Employer or any of its property, of any proceed-
ing, suit or action, at law or equity, under or relating to any bankruptcy, reorganization,
arrangement-of-debt, receivership, liquidation or dissolution law or statute.

9.32 In the event of default, the Covered Employer shall be liable to the Fund for:

(A) | The amount of the overdue installment payment or the full amount of the
withdrawal liability as permitted by Section 1.34;

(B) Interest shall be charged on any amount in default from the date the pay-
ment was due to the date it is paid at an annual rate equal to the prime rate plus one (1%)
percent charged by M&T Bank on the first day of the calendar quarter preceding the due
date of the payment. For each succeeding 12-month period that any amount in default
remains unpaid, interest shall be charge on the unpaid balance (including accrued inter-
est) at the prime rate plus one (1%) percent in effect on the anniversary date of the date as
of which the initial interest rate was determined.

9.33 In the event of default, the Fund may require the Covered Employer to make im-
mediate payment of the full amount of the withdrawal liability plus accrued interest on that full
amount from the due date of the defaulted payment.

9.34 In the event that the Fund determines that there is a substantial likelihood that a
Covered Employer will be unable to pay its withdrawal liability when due, the Fund may declare
the Covered Employer in default and require the Covered Employer to immediately pay the full
amount of the withdrawal liability plus accrued interest.

9.35 In any suit by the Fund to collect withdrawal liability, including a suit to enforce
an arbitrator’s award and a claim asserted by the Fund in an action brought by a Covered Em-
ployer or other party, if judgment is awarded in favor of the Fund, the Covered Employer shall
pay to the Fund, in addition to the unpaid liability and interest thereon as determined in Section
1,33, liquidated damages equal to the greater of:

(A) | The amount of the interest charged on the unpaid balance; or
(B) — Twenty (20%) percent of the unpaid amount awarded.
The Covered Employer shall also pay attorneys’ fees and all costs incurred in the action. Noth-

ing in this Section shall be construed as a waiver or limitation of the Fund’s right to any other
legal or equitable relief.

23 CM94:00528


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

(4) The date he/she becomes an Inactive Participant, an Inactive Em-
ployee, or a Divesting Participant; or

(5) The completion of his/her Extension Period, at which time he/she
may become a Vested Former Participant; or

(6) The date on which the Plan is terminated.

(B) Disabled Participant. Each Active Participant, or, before completion of
his/her Extension Period, each Inactive Participant, each Inactive Employee or each Di-
vesting Participant who becomes Permanently Disabled, as defined in Section 1.24, prior
to his/her Normal Retirement Date may become a Disabled Participant and may be enti-
tled to receive a Disability Pension if he/she meets all of the requirements therefor. A
Participant who was receiving a Disability Pension under the Plan as of the last day of the
Plan Year commencing in 1975, shall be covered thereafter under this Plan as a Disabled
Participant and shall continue to receive a Disability Pension in the same amount as
he/she was receiving on that date. Each Disabled Participant shall continue to accrue
Vesting Service Years during the time he/she is disabled, but he/she shall not accrue Fu-
ture Service Credits while receiving a Disability Pension. A Participant's status as a Disa-
bled Participant shall cease immediately following the earliest of:

qd) His/her death; or,

(2) The date on which his/her Permanent Disability ceases, or the date
of his/her refusal, prior to the age required for a Normal Retirement Date Pension,
to undergo a physical examination by a physician designated by the Board, in
which event he/she shall become an Active Participant, a Vested Participant, a
Divesting Participant, or, if otherwise qualified, a Pensioner; or

(3) The date on which the Plan is terminated.

(C) _ Inactive Participant. Whenever an Active Participant who is not Vested
commences work for the same Employer in Non-Covered Vesting Employment, he/she
shall become an Inactive Participant. He/she shall accrue Vesting Service Years, but not
Future Service Credits. His/her status as an Inactive Participant shall cease upon the hap-
pening of the earliest of:

(1) His/her death; or

(2)  His/her becoming a Pensioner, if otherwise qualified; or

(3) His/her becoming a Vested Participant; or

13

CM94:00544


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

Participant’s status as a Vested Participant shall cease immediately following the earliest
of:

ql) His/her death; or
(2) _ His/her becoming a Pensioner, if otherwise qualified; or

(3) The first day of the month immediately following the date that
he/she again earns one (1) Hour of Covered Employment, at which time he/she
will again become an Active Participant; or

(4) The date the Plan is terminated.

A Vested Participant who completes his/her Extension Period shall become a
Vested Former Participant.

(F) Divesting Participant. As of the last day of any Plan Year, each Active
Participant, who is not Vested, who shall have earned fewer than 280 Vesting Hours dur-
ing that year, shall become a Divesting Participant and shall accrue one Divesting Service
Year. Each Inactive Employee shall become a Divesting Participant when his/her Special
Service terminates unless he/she becomes an Active Participant. Each Inactive Participant
shall become a Divesting Participant when he/she terminates his/her Non-Covered Vest-
ing Employment unless he/she becomes an Active Participant. Each Divesting Participant
shall accrue one Divesting Service Year for each Plan Year in which he/she accrues less
than 280 Vesting Hours.

A Participant's status as a Divesting Participant shall cease immediately following
the earliest of:

ql) His/her death; or
(2)  His/her becoming a Pensioner, if otherwise qualified; or

(3) The first day of the month following the date he/she returns to
Covered Employment and his/her total Vesting Hours in the current Plan Year
first equals 280, at which time he/she shall become an Active Participant; or

(4) The completion of the Plan Year in which the number of consecu-
tive Divesting Service Years completed by the Divesting Participant, who has not
attained Normal Retirement Age, first equals the greater of (a) five or (b) the
number of his/her Credited Vesting Service Years, at which time he/she shall be-
come a Former Participant and shall forfeit all Credited Vesting Service Years, all
Credited Service, and all other rights to a benefit under this Plan; or

(5) The date on which the Plan is terminated.

CM94:00546


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

records, social security records and other similar evidence including the Union's records as the
Board may by rule or regulation, uniformly applied, determine to be acceptable.

1.25 “Pensioner” means a Participant who is Retired and who is receiving Pension
Benefits under this Plan.

1.26 “Permanently Disabled” means those disabilities which, based upon medical evi-
dence, are reasonably expected to last for at least twelve (12) months or result in death.

1.27. “Plan Year” shall be May | through April 30.

1.28 “Qualified Joint and Survivor Annuity” means an immediate annuity for the life
of the Participant, with a survivor annuity for the life of the Participant's Eligible Spouse which
is 50% of the amount of the annuity which is payable during the joint lives of the Participant and
the Participant's Eligible Spouse, and which is the actuarial equivalent of the normal form of
benefit.

1.29 “Qualified Pre-Retirement Survivor Annuity” means a survivor annuity for the
life of the surviving Eligible Spouse of the Participant under which the payments to the surviving
Eligible Spouse under such Annuity are not less than the amounts which would be payable as a
Survivor Annuity under the Qualified Joint and Survivor Annuity under the Plan (or the actuarial
equivalent thereof) if:

(A) _ Inthe case of a Participant who dies after the date on which the Participant
attained the Normal Retirement Age, such Participant had retired with an immediate
Qualified Joint and Survivor Annuity on the day before the Participant’s date of death;

(B) In the case of a Participant who dies on or before the date on which the
Participant would have attained the Normal Retirement Age, such Participant had: (i)
separated from service on the date of death; (ii) survived to the Normal Retirement Age;
(iii) retired with an immediate Qualified Joint and Survivor Annuity at the Normal Re-
tirement Age; and (iv) died on the day after the day on which such Participant would
have attained the Normal Retirement Age; or

(C) In the case of a Participant who dies on or before the date on which the
Participant would have attained the earliest retirement age, such Participant had: (i) sepa-
rated from service on the date of death (or the date of separation from service, if earlier);
(ii) survived to the earliest retirement age; (iii) retired with an immediate Qualified Joint
and Survivor Annuity at the earliest retirement age; and (iv) died on the day after the day
on which such Participant would have attained the earliest retirement age.

The “earliest retirement age” is the earliest date on which, under the Plan, the Par-
ticipant could elect to receive retirement benefits. The earliest time at which payments
may begin under a Qualified Pre-retirement Survivor Annuity is not later than the month

CM94:00541


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

continues in service without a separation and who does not receive a benefit payment, the re-
commencement of benefit payments shall be treated as the new Annuity Starting Date.

1.04 “Beneficiary” means a person designated by a Participant or Pensioner by the
terms of this Plan who is or may become entitled to a Benefit under the Plan.

1.05 “Casual Employment” means Industry Employment as determined as follows:
The Pensioner's Industry Employment is measured during the calendar year. If the Pensioner has
worked five hundred (500) hours or less during the calendar year, employment for the period is
deemed casual. Even if the Pensioner has worked more than five hundred (500) hours in a calen-
dar year, his/her employment will be deemed casual for any month in which he/she has forty (40)
hours or less of employment. The first 500 hours in a calendar year shall not be used as a basis
for suspending benefits.

1.06 “Code” means the Internal Revenue Code of 1986, as amended.

1.07 “Compensation” means all Compensation paid during the year under considera-
tion as W-2 income by the Employer to an Employee during the time he/she was a Participant,
including overtime payments and bonuses, but excluding director's fees. It excludes all contribu-
tions by the Employer to the Plan and to any other retirement or deferred compensation plan
maintained by the Employer.

Compensation shall include only that Compensation which is actually paid
to the Participant during the Plan Year.

If the Compensation for any prior Plan Year is taken into account in de-
termining an Employee's contribution or benefits for the current year, the Com-
pensation for such prior year is subject to the applicable annual Compensation
limit in effect for that prior year.

For years beginning after December 31, 1988 and before January 1, 1994,
the annual Compensation of each Participant taken into account under the Plan for
any Plan Year shall not exceed $200,000. This limitation shall be adjusted by the
Secretary at the same time and in the same manner as under Code Section 415(d),
except that the dollar increase in effect on January | of any calendar year is effec-
tive for Plan Years beginning with or within such calendar year and the first ad-
justment to the $200,000 limitation is effective on January 1, 1990.

In addition to other applicable limitations set forth in the Plan, and not-
withstanding any other provision of the Plan to the contrary, for Plan Years be-
ginning on or after January 1, 1994, the annual Compensation of each Employee
taken into account under the Plan shall not exceed $150,000, as adjusted by the
Commissioner for increases in the cost of living in accordance with Code Section
401(a)(17)(B).

CM94:00533


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

10.03 In the event of termination, allocation of Fund Assets, and the disbursement of all
Assets pursuant to this article, the Fund and any investment management or trust agreement still
in effect shall automatically expire after 180 days from the last disbursement of Fund Assets.

SECTION 11; AMENDMENTS

11.01 This Agreement may be amended at any time by written agreement of the parties.
They may enact amendments that are retroactive, or that become active on some future date, if
that is necessary to meet any requirements of law, or to preserve the Fund's qualification under
the Internal Revenue Code or under any other applicable governmental agency's regulations.

11.02 If the Plan must be amended in order to preserve or obtain the Covered Employ-
ers' ability to deduct contributions to the Fund from the Covered Employers' taxable income, un-
der the Internal Revenue Code, then the Board of Trustees will have a duty to adopt the neces-
sary Amendments. If the Plan must be amended to preserve the Fund's qualification under any
applicable law or governmental regulations, or to comply with any applicable law or governmen-
tal regulations, then the Board of Trustees will have a duty to adopt the necessary amendments.

11.03 The Board of Trustees may not make any amendment that adversely affects the

Fund's qualification under the Internal Revenue Code or under any other applicable law or gov-
ernmental regulations.

SECTION 12: MISCELLANEOUS PROVISIONS

12.01 The Board of Trustees has the power and authority to merge this Fund with an-
other Fund that was established for similar purposes, on terms that are agreeable to the Board, if
and only if

(A) _ the Union and the Association approve the proposed merger; and

(B) _ the other Fund is qualified under relevant or applicable sections of the In-
ternal Revenue Code that preserve the deductibility of Covered Employer contributions
to the Fund and/or preserve the tax exempt status of the Trust; and

(C) _ the other Fund is qualified under any relevant or applicable provisions of
ERISA, or of any other applicable laws or governmental regulations; and

(D) any requirements imposed, by ERISA, upon merger are met.

12.02 Neither the Union, the Association, nor any Covered Employer will be liable for
payment of any Benefits under the Plan.

12.03 The Fund's fiscal year will be the twelve-month period that begins on the Plan's
effective date, or on the anniversary of the Fund's effective date.

25 M94:00530


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

9.36 A Covered Employer is required, within thirty (30) days of written request from
the Fund, to furnish to the Fund such information as the Fund reasonably need, in its judgment,
to determine whether the Covered Employer has incurred a complete withdrawal or partial with-
drawal, to determine the amount of any withdrawal liability, to collect any assessed withdrawal
liability, or to otherwise administer these rules and ERISA’s employer withdrawal liability pro-
visions.

9.37 If a Covered Employer fails to comply with such a request for information, the
Fund shall be entitled to draw reasonable inferences and make reasonable assumptions that are
adverse to the Covered Employer.

9.38 This obligation, like all of the other Covered Employer’s obligations under this
Article, shall survive the Covered Employer’s withdrawal from the Fund.

SECTION 10: TERMINATION OF THE FUND

10.01 The Plan shall terminate upon the occurrence of any one or more of the following
events:

(A) _ Ifthe Fund Assets are, in the opinion of the Board, inadequate to carry out
the intent and purpose of the Fund or are inadequate to meet the payments due or which
may become due to Participants and Beneficiaries;

(B) If the Union and Association agree to terminate the Fund;
(C) Any other event which may, by law, require termination.
10.02 If the Fund terminates the Board will:

(A) _ provide for the payment, out of Fund Assets, of expenses incurred by the
Fund up to the date of termination;

(B) _ provide for the payment, out of Fund Assets, of any expenses incidental to
termination;

(C) arrange for a final audit and report of the Board's transactions and ac-
counts, for the purpose of ending the trusteeship;

(D) _ use the available Fund Assets to pay the Fund's obligations, and use or dis-
tribute any surplus in a manner that is for the exclusive benefit of the Participants and
Beneficiaries, is consistent with the purposes and intent of the Fund, and is consistent
with any requirements of law.

24 CM94:00529


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

in which the Participant would have attained the earliest retirement age under the Plan,
and with the consent of the surviving Spouse.

1.30 “Retired,” “Retirement” or “Retiring” shall mean the cessation of Covered Em-
ployment with the intention of becoming a Pensioner. To be considered retired, a person must
refrain from employment or work in Industry Employment as provided in Section 4.05.

1.31 “Special Service” means

(A) absence from Covered Employment due to sickness, accident, military
service that qualifies for service accrual under “Hours of Covered Employment,” or

(B) absence from Covered Employment because of layoff, if the Employee is
available for work in the industry. Whether or not the Employee was available for work
during such period shall be determined by the Board, or

(C) absence from Covered Employment because of maternity or paternity rea-
sons. For the purpose of this Section 1.31, an absence from work because of maternity or
paternity reasons means an absence (1) by reason of a pregnancy of the individual, (2) by
reason of a birth of a child of the individual, (3) by reason of the placement of a child
with the individual in connection with the adoption of such child by such individual, or
(4) for purposes of caring for such child for a period beginning immediately following
such birth or placement. Credit for Special Service under this Section 1.31(C) shall be
limited to the Plan Year in which the absence commenced unless the Participant would
otherwise avoid a Divesting Service Year. In that event, such credit will be given in the
following Plan Year.

1.32 “Trade or Craft” means all work of the type performed by members of the bar-
gaining unit covered by this Plan, and employment as a supervisor of such work.

1.33. “Vested” means the status obtained by a Participant whose participation is pursu-
ant to a Collective Bargaining Agreement who has attained Normal Retirement Age, or who has
accrued five (5) Credited Vesting Service Years, providing the Participant has at least one (1)
Hour of Covered Employment after May 1, 1998. If a Participant whose participation is pursu-
ant to a Collective Bargaining Agreement does not have at least one (1) Hour of Covered Em-
ployment after May 1, 1998, it means the status obtained by the Participant who has accrued ten
(10) Credited Vesting Service Years or attaining Normal Retirement Age. In the case of Partici-
pants whose participation is not pursuant to a Collective Bargaining Agreement, it means the sta-
tus obtained by a Participant who has accrued five (5) Credited Vesting Service Years or attain-
ing Normal Retirement Age.

1.34 “Vested Accrued Benefit” means the Accrued Benefit of each Participant to

which each Participant has earned a nonforfeitable right to all of part of the Benefit as deter-
mined by Section 1.32.

CM94:00542


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

AMENDED AND RESTATED PLAN OF BENEFITS FOR THE
PLASTERERS AND CEMENT MASONS LOCAL NO. 94 PENSION FUND

THIS PLAN OF BENEFITS is made and, unless otherwise provided herein, this
Amendment and Restatement is effective the 14'" day of November, 2014, by and between Local
No. 592 of the Operative Plasterers and Cement Masons (hereinafter called the “Union”), and
Keystone Contractors Association (hereinafter called the “Association”).

WITNESSETH:

WHEREAS, pursuant to the provisions of the Amended and Restated Agreement and
Declaration of Trust of the Plasterers and Cement Masons Local No. 94 Pension Fund, the Union
and the Association have the power and authority to adopt a distinct document entitled the “Plan
of Benefits for the Plasterers and Cement Masons Local No. 94 Pension Fund.”

WHEREAS, the Union and the Association desire to amend and restate the Plan of Bene-
fits they have previously established to satisfy Rev. Proc. 2007-44 and the 2013 Cumulative List
Changes in Plan Qualification Requirements.

NOW, THEREFORE, the Union and Association hereby adopt the following Amended
and Restated Plan of Benefits for the Plasterers and Cement Masons Local No. 94 Pension Fund
Pension Fund.

SECTION 1: DEFINITIONS

1.01 “Accrued Benefit” means the value of the benefits provided under the terms of the
Plan to a Participant or Beneficiary.

1.02 “Actuarial Equivalence” means determined by application of such actuarial as-
sumptions as are prescribed for such determination in Appendix A tables, or, where no such as-
sumptions are so prescribed, the actuarial assumptions adopted by the Plan for such purpose. For
distributions made on and after July 1, 2008, the applicable mortality table shall mean the appli-
cable mortality table prescribed under Code Section 417(e)(3)(B), and the applicable interest rate
shall mean the interest rate prescribed under Code Section 417(e)(3)(C).

1.03 “Annuity Starting Date” means the first day of the first period for which an
amount is payable as an annuity, or, in the case of a benefit not payable in the form of an annui-
ty, the first day on which all events have occurred which entitle the Participant to such benefit.
The Annuity Starting Date for Disability Benefits is the first date on which Disability Benefits
are received. If benefit payments are suspended pursuant to Section 4.05 for a Participant who

CM94:00532


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

a partial cessation of the Covered Employer’s contribution obligation under a Collective Bar-
gaining Agreement. An insubstantial portion means thirty (30%) percent on the last day of the
Plan Year.

9.08 There is a partial cessation of a Covered Employer’s obligation to contribute for a
Plan Year if, during such Plan Year, the Covered Employer permanently ceased to have an obli-
gation to contribute under one or more but fewer than all Collective Bargaining Agreements un-
der which the Covered Employer has been obligated to contribute to the Fund, but continues to
perform work in the jurisdiction of the Collective Bargaining Agreement in the Trade or Craft
for which contributions were previously required or transfers such work to an entity or entities
owned or controlled by the Covered Employer.

9.09 To determine whether a partial withdrawal has occurred the Fund will compare,
for each Plan Year:

(A) | The amount of work in the Trade or Craft for which the Contributing Em-
ployer was obligated to contribute to the Fund for the Plan Year, with

(B) The total amount of the Covered Employer’s work in the same Trade or
Craft in the jurisdiction of the Collective Bargaining Agreement for the Plan Year.

9.10 The date of a partial withdrawal is the last day of the Plan Year during which the
conditions of a partial withdrawal were met.

9.11 This Article shall not apply to a Covered Employer which purchases assets from a
terminating Covered Employer and enters into an agreement contemplated by Section 4204 of
ERISA.

9.12 In the event that a Covered Employer incurs a complete withdrawal or partial
withdrawal and the Fund has unfunded vested benefits liability, the Fund’s actuary will calculate
the Covered Employer’s withdrawal liability, if any, using the presumptive method set forth in
Section 4211(b) of ERISA.

9.13 Withdrawal liability shall be determined by the Fund’s Actuary utilizing actuarial
assumptions and methods which, in the aggregate, and in the discretion of the Actuary, are rea-
sonable, taking into account the experience of the Fund and reasonable expectations, and which,
in combination, offer the Fund’s Actuary’s best estimate of anticipated experience under the
Fund.

9.14 The share of the unfunded vested benefits liability allocated to the Covered Em-
ployer will be reduced by the de minimis deductible provided by Section 3209 of ERISA. The
de minimis deductible is the lesser of: (1) $50,000, and (2) 0.75% of the unfunded vested bene-
fits liability. If the share of the unfunded vested benefits liability allocated to the Covered Em-
ployer is less than the de minimis deductible, no withdrawal liability is assessed. The de minimis
deductible is applied on a diminishing basis to the extent that the share of the unfunded vested

19 CM94:00524


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

1, 2002, the annual compensation limit in effect for determination periods begin-
ning before that date is $200,000.

1.08 “Covered Employment” means employment of an Employee under the terms of a
Collective Bargaining Agreement or Participation Agreement.

1.09 “Credited Service” means the sum of Past Service Credits and Future Service
Credits.

1.10 “Credited Vesting Service Years” means the total number of Vesting Service
Years completed by an Employee except for any Vesting Service Years which have been forfeit-
ed under Section 2.03 (F) (4).

1.11 “Divesting Service Year.” means a Plan Year during which an Employee earns
less than 280 Vesting Hours as defined in Section 1.35. However, if an Employee fails to earn
280 Vesting Hours due to Special Service, then such Plan Year shall not cause a Divesting Ser-
vice Year.

1.12 “Effective Date” means May 1, 1967.
1.13 “Eligible Spouse”

(A) _ In order to be eligible, a Spouse must have been married, under applicable
law, to the Participant for the one year period ending on the earlier of:

(1) The day on which a Pension commences, or
(2) The day the Participant dies.

(B) Ifa Spouse was married to the Participant during the one year period end-
ing on the day the pension commences, the Spouse need not be married to the Participant
at the time of his/her death in order to be eligible.

(C) Ifa Spouse is married to a Participant for less than one year on the day the
Pension commences, but has been married for at least one year ending on the date the
Participant dies, the Spouse is eligible.

(D) Ifa Qualified Domestic Relations Order provides that a former spouse is
not entitled to a survivor benefit, the Spouse shall not be eligible.

(E) _ Ifa Qualified Domestic Relations Order provides that a former spouse is
entitled to a survivor benefit the provisions of Section 1.11 will not be applicable unless
they are consistent with such Order.

1.14 “Employee” shall, in addition to the meaning stated in the Amended and Restated
Agreement and Declaration of Trust, mean any employee of the Employer or of any other em-

CM94:00535


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

If the period for determining Compensation used in calculating an Em-
ployee's allocation for a determination period is a short Plan Year (i.e., shorter
than 12 months), the annual Compensation limit is an amount equal to the other-
wise applicable annual Compensation limit multiplied by the fraction, the nu-
merator of which is the number of months in the short Plan Year, and the denomi-
nator of which is 12.

If the Plan determines Compensation on a period of time that contains
fewer than 12 calendar months, then the annual Compensation limit is an amount
equal to the annual Compensation limit for the calendar year in which the Com-
pensation period begins multiplied by the ratio obtained by dividing the number
of full months in the period by 12.

In determining the Compensation of a Participant for purposes of this limi-
tation, for Plan Years beginning before January 1, 1997 the rules of Code Section
414(q)(6) shall apply, except in applying such rules, the term “family” shall in-
clude only the Eligible Spouse of the Participant and any lineal descendants of the
Participant who have not attained age 19 before the close of the year. If, as a re-
sult of the application of such rules the adjusted $200,000 or $150,000 limitation
(as applicable) is exceeded, then (except for purposes of determining the portion
of Compensation up to the integration level if this Plan provides for permitted
disparity), the limitation shall be prorated among the affected individuals in pro-
portion to each such individual's Compensation as determined under this Section
prior to the application of this limitation.

For Plan Years beginning on or after January 1, 2002, the annual compen-
sation of each Participant taken into account in determining all benefits provided
under the Plan for any determination period shall not exceed $200,000, as adjust-
ed for cost-of-living increases in accordance with Section 401(a)(17)(B) of the
Code. The cost-of-living adjustment in effect for a calendar year applies to any
determination period beginning with or within such calendar year.

If compensation for any prior determination period is taken into account in
determining a Participant’s benefits for the current Plan Year, the compensation
for such prior determination period is subject to the applicable annual compensa-
tion limit in effect for that prior period. For this purpose, in determining benefits
in Plan Years beginning on or after January 1, 1989 and before January 1, 1994,
the annual compensation limit in effect for determination periods beginning be-
fore January 1, 1989 is $200,000. In determining benefits in Plan Years begin-
ning on or after January 1, 1994 and before January 1, 2002, the annual compen-
sation limit in effect for determination periods beginning before January 1, 2002
is $150,000. In determining benefits in plan years beginning on or after January

CM94:00534


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

12.04 The parties have created and entered into this Agreement in the Commonwealth
of Pennsylvania. Any questions about the Agreement's construction or validity, or about the par-
ties' acts or transactions will be determined under the laws of Pennsylvania, to the extent that
those laws are not superseded by ERISA, or any other applicable federal law or regulation.

12.05 Should any provision of this Agreement or in the Plan, or in the rules, regulations
or policies adopted pursuant to this Agreement, be held to be unlawful or invalid, or unlawful or
invalid as to any person or instance, such fact shall not adversely affect the other provisions here-
in or therein contained or the application of said provisions to any other person or instance, un-
less such unlawfulness or invalidity shall make impossible the functioning of the Fund, and in
such case the appropriate parties shall, as quickly as practicable, adopt a new provision to take
the place of the unlawful or invalid provision.

12.06 No Participant, Beneficiary, or Covered Employee, nor any person claiming by or
through a Participant, Beneficiary, or Covered Employee, will have any rights, title, or interest in
any Fund Asset or any part of any Fund Asset except as the Board, in conformity with ERISA,
may specifically determine.

12.07 It is the intent of this Agreement that the Plan will, to the extent permitted by ap-
plicable law, be administered and operated as a Multiemployer Plan within the meaning of
ERISA.

IN WITNESS WHEREOF, the undersigned do hereby set their hands and seals the day
and year first above written:

LocaL No. 592 OF THE OPERATIVE PLASTER- KEYSTONE CONTRACTORS ASSOCIATION:
Redacted by the U.S. Department of the Treasury

ERS

Redacted by the U S. Department of the
Treasury

By

Terrence McDonoug!
Executive Director

William Ousey, PreSiderit

CM94:00531


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

(4) The first day of the month immediately following the date he/she
returns to Covered Employment, at which time he/she shall become an Active
Participant; or

(5) The first day of the month immediately following his/her leaving
Non-Covered Vesting Employment at which time he/she shall become a Divest-
ing Participant unless he/she becomes an Active Participant; or.

(6) The date on which the Plan is terminated.

(D) Inactive Employee. An Active Participant who is not Vested and who en-
ters into Special Service shall become an Inactive Employee. An Inactive Employee shall
not accrue any Divesting Service Years. An Inactive Employee shall accrue Vesting Ser-
vice Years and Future Service Credits if, and insofar as he/she qualifies for accrual under
Hours of Covered Employment. A Participant's status as an Inactive Employee shall
cease immediately following the earliest of

qd) His/her death; or
(2) His/her becoming a Vested Participant; or
(3) His/her becoming a Pensioner, if otherwise qualified; or

(4) His/her leaving Special Service and not returning to Covered Em-
ployment at which time he/she shall become a Divesting Participant; or

(5) His/her leaving Special Service and returning to Covered Em-
ployment at which time he/she shall become an Active Participant; or

(6) The date on which the Plan is terminated.

(E) Vested Participant. When a Participant has accrued five (5) Credited
Vesting Service Years, provided the Participant has at least one (1) Hour of Covered Em-
ployment after May 1, 1998, otherwise ten (10) Credited Vesting Service Years, he/she
shall be Vested if his/her participation is pursuant to a Collective Bargaining Agreement;
if not, he/she shall be Vested upon the accrual of five (5) Credited Vesting Service Years.
In addition, he/she shall be entitled to the benefits of an Active Participant during his/her
Extension Period. Each Inactive Participant shall become a Vested Participant at the
completion of the Plan Year in which he/she first accrued five (5) Credited Vesting Ser-
vice Years, provided the Participant has at least one (1) Hour of Covered Employment af-
ter May 1, 1998; otherwise ten (10) Credited Vesting Service Years if his/her participa-
tion is pursuant to a Collective Bargaining Agreement. Each Participant who was a Vest-
ed Participant under the Plan as it existed on the last day of the Plan Year that com-
menced in 1975, shall be covered under this Plan as a Vested Participant. Upon attain-
ment of Normal Retirement Age, each Participant shall become a Vested Participant. A

CM94:00545


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

9.28 If the Covered Employer does not initiate arbitration in accordance with Section
1.25 above, the Covered Employer will be deemed to have waived any right to contest the with-
drawal liability assessment.

9.29 Notwithstanding the Covered Employer’s request for review or initiation of arbi-
tration, the Covered Employer shall pay its withdrawal liability assessment in accordance with
the payment schedule set by the Fund’s Actuary. If the withdrawal liability assessment is re-
duced or rescinded as a result of the Board of Trustees’ review, arbitration, or other proceedings,
an appropriate adjustment in future payments or refund will be made. If the Covered Employer
has paid more withdrawal liability than it is determined to owe, the excess will be refunded with
interest.

9.30 If the Fund determines that a Covered Employer has incurred a complete or par-
tial withdrawal, or a Covered Employer is liable for withdrawal liability with respect to the com-
plete or partial withdrawal from the Fund, and such determination is based in whole or in part on
a finding by the Fund that a principal purpose of any transaction that occurred after December
31, 1998, and at least five (5) years (or two (2) years in the case of a small employer) before the
date of complete or partial withdrawal was to evade or avoid withdrawal liability, and the Cov-
ered Employer contests the Fund’s determination with respect to withdrawal liability payments
through the review and arbitration proceedings set forth above, the Covered Employer is not ob-
ligated to make the withdrawal liability payments until a final decision in the arbitration proceed-
ing, or in court, upholds the Fund’s determination. This special rule applies only if the Covered
Employer provides notice to the Fund of its election to apply the special rule within ninety (90)
days after the Fund notifies the Covered Employer of its liability, and if a final decision on the
arbitration proceeding, or in court, of the withdrawal liability dispute has not been rendered with-
in twelve (12) months from the date of such notice, the Covered Employer provides to the Fund,
effective as of the first day following the 12-month period, a bond issued by a corporate surety,
or an amount held in escrow by a bank or similar financial institution satisfactory to the Fund, in
an amount equal to the sum of the withdrawal liability payments that would otherwise be due for
the 12-month period beginning with the first anniversary of such notice. The bond or escrow
must remain in effect until there is a final decision in the arbitration proceeding, or in court, of
the withdrawal liability dispute. At such time, the bond or escrow must be paid to the Fund if the
final decision upholds the Fund’s determination. If the withdrawal liability dispute is not con-
cluded by 12 months after the Covered Employer posts the bond or escrow, the Covered Em-
ployer must, at the start of each succeeding 12-month period, provide an additional bond or
amount held in escrow equal to the sum of the withdrawal liability payments that would other-
wise be payable to the Fund during that period.

9.31 A Covered Employer will be in default on its withdrawal liability if:
(A) — Any installment payment is not received by the Fund when due;

(B) | The Fund has notified the Covered Employer of its failure to pay the in-
stallment when due; and

22 CM94:00527


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

Employees. However, an Employee described in (2), (3) or (4), above, who was not so described
in the preceding year, shall not be considered an active Highly Compensated Employee unless he
or she was a member of the group of 100 Employees of the Employer who received the greatest
compensation from the Employer during the determination year.

(C) In lieu of determining which Employees are Highly Compensated Employees in
accordance with the provisions of (B) above, the Trustees can elect, for any Plan Years begin-
ning before January 1, 1997, to use the simplified "snapshot" method under IRS Revenue Proce-
dure 95-34.

(D) A Highly Compensated Former Employee for a Plan Year is any former Employ-
ee who, with respect to the Employer, had a separation year prior to the Plan Year and who was a
Highly Compensated Active Employee for either the Employee's separation year or any Plan
Year ending on or after the Employee's 55th birthday. An Employee who performs no service for
an Employer during the Plan Year is treated as a former Employee for that Plan Year. Such Em-
ployee's separation year is the year in which the Employee last performed service for the Em-
ployer.

(E)  "S-percent owner" for any year means any Employee who is a 5-percent owner
within the meaning of Internal Revenue Code Section 416(i)(1).

(F) "Top-Paid group" means the group consisting of the top 20 percent of the Em-
ployer's Employees when ranked on the basis of compensation paid during such year.

(G) _ For purposes of determining the group of Highly Compensated Employees under
this section, "compensation" means "compensation" as defined in Section 9.13(1).

(H) _ For purposes of determining the group of Highly Compensated Employees but not
for purposes of determining Covered Employment, the term "Employer" includes all corpora-
tions, trades or businesses under common control with the Employer within the meaning of In-
ternal Revenue Code Section 414(b) or (c); all members of an affiliated service group with the
Employer within the meaning of Internal Revenue Code Section 414(m) and all other businesses
aggregated with the Employer under Internal Revenue Code Section 414(0).

1.18 “Hour of Covered Employment” means:

(A) — Each hour for which an Employee is paid, or entitled to payment, for the
performance of duties for the Employer. These hours will be credited to the Employee for
the computation period in which the duties are performed;

(B) Each hour for which an Employee is paid, or entitled to payment, by the
Employer on account of a period of time during which no duties are performed (irrespec-
tive of whether the employment relationship has terminated) due to vacation, holiday, ill-
ness, incapacity (including disability), layoff, jury duty, military duty or Leave of Ab-

CM94:00538


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

414(c)) of which the adopting Employer is a member, and any other entity required to be aggre-
gated with the Employer pursuant to Code Section 414(0).

Hours of Service will also be credited for any individual considered an Employee for
purposes of this Plan under Code Sections 414(n) or 414(0).

Service will be determined on the basis of actual hours for which an Employee is paid or
entitled to payment.

1.19 “Hour of Service” means each hour for which an Employee is paid or entitled to
payment for the performance of duties for the Employer in Covered Employment.

1.20 “Hours of Industry Employment” means actual hours of work in Industry Em-
ployment for which Compensation is paid or payable.

1.21 “Industry Employment” means employment or self-employment of a Pensioner at
any place in the Commonwealth of Pennsylvania and the remainder of any Standard Metropoli-
tan Statistical Area which falls within the Commonwealth of Pennsylvania, whether or not for a
contributing employer, in any Trade or Craft in which the Pensioner was employed at any time
under the Plan.

1.22 “Non-Covered Vesting Employment” means employment with an Employer (after
it initially commenced contributions to the fund) in a non-bargaining unit job if such Employee
was employed with the same Employer in Covered Employment either immediately before or
immediately after such Non-Covered Vesting Employment.

1.23. “Normal Retirement Age” or “Normal Retirement Date” means the later of age
65, or the fifth (Sth) anniversary of the time the Participant commenced participation in the Plan.
Because this Plan formerly determined Normal Retirement Age with reference to the tenth (10th)
anniversary of the commencement of participation, a transition rule shall be:

The qualifying anniversary date for Participants who commenced participation before
May 1, 1988, shall be the earlier of

(a) the tenth anniversary of the date the Participant commenced participation
or

(b) — May 1, 1993. The participation commencement date is the first day of the
first Plan Year in which the Participant commenced participation in the Plan.

1.24 “Past Service Credits” means credit for Covered Employment prior to the Effec-
tive Date, at the rate of one year for each full year of Covered Employment. The total number of
years for which Past Service Credits shall be allowed shall be measured by the continuous and
uninterrupted period of such employment prior to the said date, as determined from Employer

CM94:00540


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

request for review of any specific matter relating to the withdrawal liability assessment and pay-
ment schedule, including any alleged inaccuracy in the in the withdrawal liability determination.
The Covered Employer shall also submit with its request for review any documents or other in-
formation that it considers supportive of its request for review.

9.22 The Fund’s Board of Trustees shall review any such request for review. The
Covered Employer will be notified in writing of the decision and the basis for the decision, in-
cluding an explanation of any changes in the withdrawal liability assessment or payment sched-
ule.

9.23 In the event that the Covered Employer is not satisfied by the Board of Trustees’
decision, the Covered Employer may initiate arbitration in accordance with the rules of Section
4221 of ERISA.

9.24 The Covered Employer must initiate arbitration within sixty (60) days after the
earlier of:

(A) _ The date of which the Covered Employer receives notice of the Board of
Trustees’ decision on its request for review; or

(B) One hundred twenty (120) days after the date of the Covered Employer’s
request for review to the Board of Trustees.

9.25 Arbitration shall be initiated by written notice to the Philadelphia, Pennsylvania
Regional Office of the American Arbitration Association (AAA), with copies to the Fund (or, if
initiated by the Fund, to the Covered Employer). Such arbitration will be conducted in accord-
ance with the “Multiemployer Pension Plan Arbitration Rules (the “AAA Rules”) administered
by the Philadelphia, Pennsylvania Regional Office of the AAA. The initial filing fee is to be
paid by the party initiating the arbitration proceeding. Arbitration is timely initiated if received
by the AAA along with the initial fee within the time period set forth in Section 1.25, above. All
arbitrations, including all arbitration hearings under this Section, shall be conducted in Harris-
burg, Pennsylvania, at the offices of the Fund. All arbitrators shall be selected pursuant to pro-
cedures of the AAA, from the withdrawal liability arbitration list maintained by the AAA, or by
agreement between the Fund and the Covered Employer.

9.26 A Covered Employer cannot initiate arbitration unless it has submitted to the
Board of Trustees, under Section 1.22, above, a written request for review.

9.27 Within thirty (30) days after the issuance of the final award by an arbitrator in ac-
cordance with these procedures, any party to such arbitration proceeding may bring an action in
the United States District Court for the Middle District of Pennsylvania to enforce, modify or
vacate the arbitration award, in accord with Sections 4221 and 4301 of ERISA.

aa CM94:00526


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5c
Most Recent Trust Agreement

benefits liability allocated to the Covered Employer is more than $100,000. For every dollar that
the Covered Employer’s share of the unfunded vested benefits liability exceeds $100,000, the
deductible is reduced by a dollar. If the Covered Employer’s share of the unfunded vested bene-
fits liability is less than $100,000, the full amount of the applicable deductible is applied to re-
duce the amount assessed as withdrawal liability. If the Covered Employer’s share of the un-
funded vested benefits liability exceeds $150,000, the deductible is zero, and does not reduce the
amount assessed as withdrawal liability.

9.15 The share of the unfunded vested benefits liability allocated to the Covered Em-
ployer will be further reduced by application of the limitations on withdrawal liability set forth in
Section 4225 of ERISA if, and to the extent that, the Covered Employer demonstrates to the
Fund’s satisfaction that it qualifies for any of the limitations.

9.16 In the event that a Covered Employer incurs a partial withdrawal, its withdrawal
liability will be a pro-rata share of the complete withdrawal liability calculated under Sections
1.13 through 1.16, above.

9.17 Withdrawal liability is payable by a Covered Employer on an installment payment
schedule, the amount of which is to be determined by the Fund’s Actuary in accordance with
Section 4219(c) of ERISA. The installment payments shall include interest. The first install-
ment will be payable within sixty (60) days following the notice of the assessment, and the sub-
sequent installments shall be payable at three- (3) month intervals. Notwithstanding the install-
ment payment schedule, a Covered Employer may prepay all or any part of its withdrawal liabil-
ity without penalty.

9.18 As soon as practicable after a Covered Employer’s complete withdrawal or partial
withdrawal and the Fund’s determination that the Covered Employer owes withdrawal liability,
the Fund shall send a written notice of the assessment of withdrawal liability and demand for
payment in accordance with the payment schedule. The notice will set forth the amount of with-
drawal liability, the schedule for payment, and a description of the withdrawal liability calcula-
tion.

9.19 The Fund may require the Covered Employer to post a bond or other acceptable
security for the payment of its withdrawal liability, initially or at any time before the withdrawal
liability is fully paid, if the Covered Employer’s payment schedule extends more than eighteen
(18) months, if the Covered Employer is the subject of a bankruptcy petition or similar proceed-
ings, or if substantially all of the Covered Employer’s assets are sold, distributed or transferred
out of the jurisdiction of the U.S. Courts or the Fund receives notice of a pending sale, distribu-
tion or transfer.

9.20 The Fund may require immediate payment of the full amount of withdrawal liabil-
ity under certain circumstances described in Sections 1.32 through 1.35, below.

9.21 No later than ninety (90) days following its receipt of a notice of withdrawal lia-

bility assessment, the Covered Employer may submit to the Fund’s Board of Trustees a written

20 CM94:00525


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

ployer required to be aggregated with such Employer under Code Sections 414(b), (c), (m) or
(0). An “Employee” is an individual who would be an Employee but who is on a Leave of Ab-
sence. Directors acting solely in that capacity and independent contractors shall not be Employ-
ees.

The term Employee shall also include any leased employee deemed to be an employee of
any employer described in the previous paragraph as provided in Code Sections 414(n) or (0).

The term “leased employee” means any person (other than an employee of the recipient)
who, pursuant to an agreement between the recipient and any other person (“leasing organiza-
tion”), has performed services for the recipient (or for the recipient and related persons deter-
mined in accordance with Code Section 414(n)(6)) on a substantially full-time basis for a period
of at least one year, and such services are performed under primary direction or control by the
recipient. Contributions or benefits provided a leased employee by the leasing organization
which are attributable to services performed for the recipient employer shall be treated as provid-
ed by the recipient employer.

A leased employee shall not be considered an Employee of the recipient if: (i) such em-
ployee is covered by a money purchase pension plan maintained by the leasing organization
providing: (1) a nonintegrated employer contribution rate of at least 10% of Compensation, as
defined in Code Section 415(c)(3), but including amounts contributed pursuant to a salary reduc-
tion agreement which are excludable from the employee's gross income under Code Sections
125, 132(f)(4) (for Plan Years beginning on or after January 1, 2000), 402(e)(3), 402(h), or
403(b); (2) immediate participation; and (3) full and immediate vesting; and (ii) leased employ-
ees do not constitute more than 20% of the recipient's non-Highly Compensated workforce.

1.15 “Extension Period” means a period during which a Participant who is not eligible
for a Normal or Disability Pension fails to work at least 280 Hours of Covered Employment in
each of two consecutive Plan Years.

1.16 “Future Service Credits” means credit for Covered Employment after the Effec-
tive Date computed as follows: Each Covered Employee will receive 1/10th year's credit for each
full unit of 140 Hours of Covered Employment during a Plan Year. For Covered Employment
after May 1, 1996, each Covered Employee will receive 1/20" year’s credit for each full unit of
70 Hours of Covered Employment during a Plan Year. If less than 280 Hours of Covered Em-
ployment are earned during a Plan Year, no Future Service Credit will be given for that Plan
Year.

When Employees covered by this Fund are working in jurisdictions covered by other
pension plans which have reciprocal agreements with this Fund, and pension contributions re-
ceived by the other plans from Employers are reciprocated to this Fund, Future Service Credit
will be granted to those Employees in accordance with this Fund based on the amount of hourly
contributions reciprocated to this Fund, Future Service Credit will not be granted to Employees
for hourly contributions that are reciprocated by this Fund to other pension plans under such re-
ciprocal agreements. Future Service Credit under this Fund will not be granted for hours worked

CM94:00536


APPLICATION FOR A PARTITION ORDER FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 5d
Plan Document with Plan Amendments

sence with pay. Hours under this Paragraph (B) will be calculated and credited pursuant
to section 2530.200b-2 of the Department of Labor Regulations which is incorporated
herein by this reference; and

(C) Each hour for which back pay, irrespective of mitigation of damages, is ei-
ther awarded or agreed to by the Employer. The same Hours of Service will not be cred-
ited both under Paragraph (A) or Paragraph (B), as the case may be, and under this Para-
graph (C). These hours will be credited to the Employee for the computation periods to
which the award or agreement pertains rather than the computation period in which the
award, agreement or payment is made.

(D) Credit for each work day the Employee was absent from work but for
which day the Employee received, or would have received but for the coordination of
benefits, sick or accident benefits paid by the Health and Welfare Plan jointly adminis-
tered by the Union and the Employer and for each working day within any waiting period
immediately preceding his/her receipt of such benefits;

(E) Credit for each day the Employee was absent from work but for which the
Employee received Workmen's Compensation Benefits arising from Covered Employ-
ment;

(F) Credit for 120 Hours of Covered Employment shall be given for each
tenth of a year that a Participant has served in qualified military service, up to a maxi-
mum of five (5) years of Credited Service, provided that the following conditions are
met: (1) the Employee must have been an Active Participant prior to entering active duty;
(2) the Participant's release from qualified military service must have been under honora-
ble conditions, unless the Participant dies or becomes Permanently Disabled while per-
forming qualified military service; (3) service by the Participant did not exceed four (4)
years or, if at the request and for the convenience of the qualified military, did not exceed
five (5) years; (4) the Participant commences or re-applies for and is available for Cov-
ered Employment within ninety (90) days of his/her discharge or release from hospitali-
zation of no more than one year continuing after his/her discharge; and (5) the Partici-
pant, Eligible Spouse or alternate payee applies to the Contract Administrator for Credit-
ed Service, and accompanies his/her application with such supporting documentation as
the Contract Administrator may require;

(G) — Credit for each working day described in Parts 1.16(D) and (E), the Em-
ployee shall receive credit for eight Hours of Covered Employment. Credit for absence
under 1.16 (D) and (E) shall not exceed 1000 hours in each period of two consecutive
Plan Years nor shall it exceed 2000 hours during a continuous disability or a series of pe-
riods of disability arising from the same cause.

Hours of Service will be credited for employment with other members of an affiliated

service group (under Code Section 414(m)), a controlled group of corporations (under Code Sec-
tion 414(b)), or a group of Trades or businesses under common control (under Code Section

CM94:00539