AMENDMENT NO. §

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA IRONWORKERS PENSION TRUST FUND
AS AMENDED AND RESTATED, JANUARY 39, 2015
AND APPROVED BY THE IRS GN JUNE $, 2615
AND ADOPTED BY THE BOARD OF TRUSTEES ON
NOVEMBER 3, 2015

CONCEPT

In order to increase the pool of Union workers available to signatory
employers, and to increase contributions to the Plan, and to make it easier
for individual Ironworkers to get a full pension credit without Tisking
pension forfeiture, the Alaska Ironworkers Pension Trust Fund will allow
certain retirees to work in covered employment for up to 1,100 hours during
the window of January 1, 2016 through June 30, 2016.

AMENDMENT
The Plan Document will be amended as follows:
2.13 Temporary Change in Return to Work Rules

Persons who are not disabled and who have been in retirement status
for three months may return to work temporarily as provided in this
section without the forfeiture or suspension of their pension benefits.

Effective January 1, 2016 and ending June 30, 2016, persons who
have been in retirement status for three months or more may return to
covered employment and may work up to but not more than 1,100
hours in covered employment for a contributing employer. Once the
individual’s covered employment exceeds 1,100 hours during the
exception period, the exception no longer applies and the preexisting
return to work rules shall apply. That means that persons with early
retirements who return to covered employment and work more than
1,100 hours will forfeit their entire early retirement benefit. See Plan

toes

Exhibit 13

AIPT 240


AMENDMENT NO. 2

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA IRGNWORKERS PENSION TRUST FUND
AS AMENDED AND RESTATED, JANUARY 30, 2615
AND APPROVED BY THE IRS ON JUNE 9, 2015

NOTE: THIS AMENDMENT WAS FORMERLY
AMENDMENT NO. 1
TO THE RULES AND REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA FRONWORKERS PENSION TRUST FUND
AS RESTATED THROUGH JANUARY 30, 2015

CONCEPT

In order to increase the pool of Union workers available to signatory
employers, and to increase contributions to the Plan, the Pension Trust Fund
will temporarily suspend its return to work rules for both normal and early
retirees as set out below.

AMENDMENT

The Plan Document will be amended by the addition of a new section.
2.12, which will provide a uniform exception to the Plan's existing pension,
suspension, and forfeiture rules. The new Section 2.12 shail read in its
entirety as follows:

2.12 Temporary Change in Return to Work Rules

Persons who are not disabled and who have been in retirement status
for three months may return to work temporarily as provided in this
section without the forfeiture or suspension of their pension benefits.

Effective July 1, 2015 and ending December 31, 2015, persons who
have been in retirement status for three months or more may return to
covered employment and may work up to but not more than 1,000
hours in covered employment for a contributing employer. Once the

Exhibit 13

AIPT 231


Exhibit 13

7
AMENDMENT NO. _

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA IRONWORKERS PENSION TRUST FUND

AS AMENDED AND RESTATED JANUARY 30, 2015 AND APPROVED BY THE IRS
ON JUNE 9, 2015 AND ADOPTED BY THE BOARD OF TRUSTEES ON
NOVEMBER 3, 2015

PURPOSE

The Plan Document contains what is apparently a typographicai error in section 4.06. The
purpose of the rule is to establish the number of consecutive annus! breaks in service which will result in
the forfeiture of unvested benefits. The rule, 4.06(a)(2), currently states that tire number is the “greater
of" 5 years “and” the Participant's previously earned Years of Pension Credit. in common usage the
term “greater of” would be used with the word “or”. The current wording doesn’t actually make sense
since there is no “greater’ option identified. Also, a participant couid mistakenly read the rule as giving
2 participant relief from forfeiture of 5 years PLUS another year for each year of service in the plan. in
sorne cases that would aliow @ break in service of 9 years. it is not believed that this is @ reasonable
reading of the provision nor was that result the original intent of the Provision. As 3 practical matter the
provision has nct been interpreted to allow breaks in service ini excess of 5 years and we think that is the
correct interpretation of the current plan language. However, the language should be revised.

ERISA section 203(b)(1)(D)i!) allows forfeiture of earned benefits after consecutive breaks of
service of 5 “or’ the aggregate number of years of service before the period of the break in service.
Under this rule 5 years would be the maximum time before a break in service takes place. The
lronworkers Plan defines a break in service as a Plan Year in which the participant earns less than 25
years of future service credit. Plan Section 1.04. So participants e€aring at least .25 years of service avoid
having that year count for the purpose of a break in service. Vesting however requires 5 years of
pension credit, Plan Section 1,24, Thus a participant can be unvested but have more than 5 years in
which some pension credit has deen earned.

The plan, as currently stated, creates « simple 5 year rule. But the warding of the rule should be
impreved. Below the clld language is crossed cut. New ianguage is underlined.
Amendment

Section 4.06 is amended in relevant part as follows:

4.06 — Forfeiture of Earned Pension and Pension Credit.

(a) Break in Service

AIPT 244


Exhibit 13

+ determining his Earned Pension, or
«Vesting.

The Trustees will compute Related Service Credits on the basis on which that credit
has been earned and credited under the Related Pian and certified by the Related
Plan to this Plan.

{e)_ Related Service Credit for hours earned on or after January 1, 2016.
On or after January 1, 2016, related Service Credits are pension credits
earned by a Participant under a Related Plan. The Trustees will recognize
Related Service Credits under this Plan for purposes of determining
+ __when the Participant attains his Early or Normal
Retirement Date, and
+__whether there has been a Break in Service.
+ vesting,

but not for
*__determining his Earned Pension.

The Trustees will compute Related Service Credits on the basis on which that

credit has been earned and credited under the Related Plan and certified by the
Related Plan to this Plan.

Section 3.01 of the Plan Document is amended as follows:
3.01 Pro-Rata [Partial] Pension.

(a) Purpose.
Any Participant who

+ would otherwise lack sufficient Pension Credit to be entitled to any Pension
because his years of employment were divided between different pension
plans or,

» is entitled to a Pension but whose Pension would otherwise be less than the
full amount because of the division of employment,

is entitled to a Pro-Rata [Partial] Pension.
(b) Definitions Appiicable to This Section.
{1} | Combined Service Credit.
The totai of a Participant's Pension Credit under this Pian and Related
Service Credit together make up the Panicipant's Combined Service

Credit. No more than one year of Combined Service Credit will be
counted in any calendar year or Plan Year A retiree who becomes

AIPT 236


AMENDMENT NO. 3

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA [RONWORKERS PENSION TRUST FUND
AS AMENDED AND RESTATED, JANUARY 30, 2015
AND APPROVED BY THE IRS ON JUNE 9, 2015
AND ADOPTED BY THE BOARD OF TRUSTEES ON
AUGUST 11, 2015

CONCEPT

In order to increase the pool ef Union workers available to signatory
employers, and to increase contributions to the Plan, and to make it easier
for individual Ironworkers to get a full pension credit without risking
pension forfeiture, the Pension Trust Fund wil! increase the number of hours
an Ironworker may work in covered employment from 1,000 to 1,100 hours
during the window of July Ito Dee. 31, 2015.

AMENDMENT

The Plan Document will be amended by increasing the hours an
Ironworker may work under the temporary return to work rules as set cut
below. The change is in legislative format.

2.12 Temporary Change in Return to Work Rules
Persons who are not disabled and who have been in retirement status

for three months may return to work temporarily as provided in this
section without the forfeiture or suspension of their pension benefits.

Effective July 1, 2015 and ex ber 31. 2015, persons who
have been in retirement status for three months or more may return to
covered employment and may work up to but not more than 4900
4,100 hours in covered employment for a contributing employer.
Once the individual's covered employment exceeds 4,006 1.100 hours
during the exception period. the exception no longer applies and the
preexisting return to work rules shall apply. That means that persons

= Dece)
g vece

Exhibit 13

AIPT 233


Exhibit 13

AMENDMENT NO. 1
TO THE RULES AND REGULATIONS FOR THE
OF THE ALASKA IRON WORKERS PENSION TRUST FUN!
AS RESTATED THROUGH JANUARY 30. 2015,

PAGE 2 OF2

individual’s covered employment exceeds 1.000 hours during the
exception period, the exception no longer applies and the preexisting
return to work rules shall apply. That means that persons with early
retirements who return to covered employment and work more than
1,000 hours will forfeit their entire early retirement benefit. See Plan
Section 202(c). For persons receiving a normal retirement benefit,
working in excess of 1,000 hours during the exception period will
cause them to have their monthly benefits suspended in any month in
which they worked 40 or more hours in ironwork. See Plan Section

2.05.

This plan amendment formalizes action taken at a telephonic board
meeting held after notice and with a quorum on Monday, June 22, 2015.

Paul Carr Allan Haraing
Chairman of the Board Secretary of the Board

AIPT 232


Exhibit 13

A participant's previously Earned Pension and eamed non-vested Pension Credit will
be forfeited if he incurs a Forfeiture Break in Service. Forfeiture Break in Service
means:

2+-A-period-ofe ute Breaks in-Sen 4te-44 tereiSanctie

Participants previously-earned-Vearsof Pension Credit fincurredon or after tly >
498s.

(2)_A period of 5 consecutive plan years in which the Participant fails to earn at
this pk

least .25 pension credit per year. Only service ir

n is considered in

determining a break in service

COMMENT: This is a simple 5 year break in service rule. The cressed out material
above is current plan language. The wor
They more logically combine with “or”. So the provision is ambiguous in that

regard. However because the provision uses the term “Years of Pension Credit” and
because at 5 years of pension credit a participant is vested the result is that this is
simply a one size fits all 5 year rule. As stated above, this is allowed under ERISA. If
the trustees wish to continue with the current rule this is a

“greater of” do not combine with “and”

impler way to state it

Paul Carr, Chairman Allan Harding, S

AIPT 245


Exhibit 13

AMENDMENT NO. 4

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN OF THE
ALASKA IRONWORKERS PENSION TRUST FUND
AS AMENDED AND RESTATED, JANUARY 30, 2015
AND APPROVED BY THE IRS ON JUNE 9, 2015
AND ADOPTED BY THE BOARD OF TRUSTEES ON
AUGUST 114, 2015

CONCEPT

This amends the plan to allow for recognition of related service credit for purposes of
determining vesting in conjunction with the provision of Pro-Rata pensions intended to
be consistent with the provisions of the Iron Workers international Reciprocal Pension
Agreement (“Agreement”} and Exhibit A to the Agreement. Under the Agreement,
however, pension benefits are calculated on the basis of a percentage of contributions.
Under the Alaska Ironworkers Pension Trust, benefits are calculated by applying accrual
rate(s) to contribution amount(s). Accordingly, the amount of the pro-rata pension
amount will be determined under the rules of this pian, with the intention that participants
who receive a pro-rata pension receive all of their earned pension.

AMENDMENT
Section 1.11 of the Plan Document is amended as follows:
1.14 Credit.

(a) Pension Credit.
Pension Credit means the sum of a Participant's Past Service Credit and Future
Service Credit. (Years cf Pension Credit are the equivalent of Years of Service as
defined in ERISA and
the Code.)
(b) Future Service Credit.
Future Service Credit means the years credited as required in
Article 4 on account of Covered Employmeni on and after
July 1, 1966
(c) Past Service Credit.
Past Service Credit means the years credited as required in
Article 4 on account of Covered Employment before July 1, 1966,
{d) Related Service Credit for hours earned priorto January 4, 2016.
Prior to January 1, 2016, [Rjrelated Service Credits are pension credits earned
by a Participant under a Related Pian. The Trustees will recognize Related
Service Credits under this Pian for purposes of determining
* when the Participant attains nis Early or Norma!
Retirement Date, and
« whether there has been a Break in Service,

but not for

AIPT 235


Exhibit 13

AMENDMENT NO. 1

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN OF THE
ALASKA IRONWORKERS PENSIGN TRUST FUND

AS RESTATED JANUARY 30, 2015
AND APPROVE BY THE IRS ON JUNE 9, 2015

[NOTE: THIS AMENDMENT WAS ADOPTED AFTER THE IRS SUBMISSION ON JAN, 30 AND
BEFORE THE LRS APPROVAL ON JUNE 9, 2015
IT WAS FORMERLY:

AMENDMENT NO. 6
TO THE RULES AND REGULATIONS FOR THE PENSION PLAN OF TRE ALASKA
TRONWORKERS PENSION PLAN
AS RESTATED THROUGH MARCH 4, 2014}

CONCEPT

is « technical correction amendment. In the Notice to Participants dated
September i4, 2010 the 72-month certain guarantee period for all retirements was

eliminated, except for Pre-Retirement Death. in a Plan Amendment passed by email vote

on December

October 1. 2010. The lump sum death benetit wa:

- 20]4, the Pre-Retirement 72-month benefit was inadv ertently eliminated.

Additionally, the $5,000 lump sum benefits were eliminated for all deaths afier
inadvertently not eliminated from

Section 6.02 when the earlier technical amendments were doae.

This Amendment will correct cicrical errors and bring the plan language into

conformance with the Plan changes authorized by the Trustees and noticed to the
participants.

‘Trust counsel is authorized to note cn Amendment 4 those sections which have been

further changed by this Amendment.

AMENDMENTS

Section 6.02 of the Plan Document is hereby amended as noted below.

AIPT 227


Exhibit 13

ending June 39, 1990, 2.6% of the Contributions made on his
behalf during the Plan Year.

Otherwise, a Participant's Pro-Rata [Paial] Pension is equal to his
Earned Pension. A Participant's Pro-Rata [Partial] Pension will be
determined as of his Pension Starting Date.

(4) Terminal Plan.

The Terminal Plan is the Plan associated with the local union which
represents the Participant at the time of or immediately before his
retirement. If at that time the Participant was not represented by any one
local union, then the Terminal Plan is the one to which the bulk of
contributions were paid on behalf of the Participant in the 36 consecutive
calendar months immediately before his retirement.

(c) Entitlement.
A Participant is entitled to a Pro-Rata [Partial] Pension under this Plan if he
satisfies all the following requirements:

(1) He would be entitled to any type of Pension under this Plan (other than é
Pro-Rata [Partial] Pension) if his Combined Service Credit were treated
as Pension Credit under this Plan; and

(2) He has earned, under this Plan, either

« 2years of Pension Credit (other than Related Service Credit) based
on employment after December 31, 1954, or

* 1 Minimum Unit of Service Credit after December 31, 1982; and
(3) He is found to be

«entitled to a pro-rata [partial] pension from a Related Plan, and

«entitled to a pro-rata [partial] pension from the Terminal Plan; and

(4) He is not entitled to a pension from a Related Plan independently of its
provisions for a pro-rata [partial] pension. However, a Participant who is
entitled to a pension other than a Pro-Rata [Partial] Pension from this
Plan or a Related Plan may elect to waive the other pension and qualify
for the Pro-Rata [Partial] Pension.

(d) Ejection of Pension.
If a Participant is entitled to more than one type of Pro-Rata [Partial] Pension, he
may elect the type of Pro-Rata [Partial] Pension he is to receive.

(e) Payment of Pro-Rata [Partial] Pensions.
The payment of a Pro-Rata [Partial] Pension is subject to all of the conditions
contained in this Pian that appiy to other types cf Pensions including, but not
limited to, the types of retirement defined in this Article 3 and timely application

AIPT 238


(2)

Exhibit 13

employed in another jurisdiction while remaining in a pay status and
receiving monthly checks from this Func does not earn related service
credit under this Plan and does not become eligible to have their existing
benefits from this Plan increased based on that work.

Minimum Unit of Service Credit.

Minimum Unit of Service Credit means the minimum number of hours of
service required by a plan to entitle an employee to earn a pension
benefit under that plan. A Minimum Unit of Service Credit in this Plan
means .25 year of Future Service Credit.

Pro-Rata [Partial] Pension.

ia Participant terminated Covered Employment before July 1, 1990, and
on that date he would not be entitled to 2 Pension under this Plan without
taking into account Related Service Credit, his Pro-Rata [Partial] Pension
Is @ Life Only Pension starting at the Paricipant's Norma! Retirement
Date equal to the following.

() For a Participant who is not an Active Participant for any Pian
Year beginning on or after July 1. 1990, and whose Pension
Starting Date is before July 1, 1990, the sum of the following:

* $31.50 multipiied by his years of Pension Credit accumulated
before July 1, 1974;

¢ for each Plan Year in which he earns at Isast .25 year of
Pension Credit during the period beginning July 1, 1974 and
ending June 30, 1987, 2.42% of the Contributions made on is
behalf during the Plan Year; and

« for each Plan Year in which he earns at least .25 year of
Pension Credit during the period beginning July 1, 1987 and
ending June 30, 1990, 2.54% of the Contributions made on his
behalf during the Plan Year.

(ii) For a Participant who is net an Active Participant for any Plan
Year beginning on cr after July 1, 1990, and whose Pension
Starting Date is on or after July 1.1990. the sum of the following:

« $31.50 multiplied by his years of Pension Credit accumulated
before July 1, 1974:

» for each Plan Year in which he earns at least .25 year of
Pension Credit during the period beginning July 1, 1974 and
ending June 30, 1937, 2.42% of the Contributions made on his
behalf during the Plan Year: and

* for each Plan Year in which he earns at least .25 year of
Pension Credit during the period beginning July 1, 1987 and

AIPT 237


Exhibit 13

AMENDMENT NO. 3
1O THE RULES ANP REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA IRONWORKERS PENSION TRUST FUND
AS RESTATED THROUGH JANUARY 30, 2015,

PAGE 20F2

with early retirements who return to covered employment and work
more than 4,996 1.100 hours will forfeit their entire early retirement
benefit. See Plan Section 202(c). For persons receiving a normal
retirement benefit, working in excess of 1,000 hours during the
exception period will cause them to have their monthly benefits
suspended in any month in which they worked 40 or more hours in
ironwork. See Plan Section 2.05.

This plan amendment formalizes action taken at the regularly
scheduled meeting of the Board of Trustees on August 11. 20

nairman of the

AIPT 234


Approved and dated th

Paul Carr
Its: Chairman

ALASKA IRON

is 12" day of March, 2015 by the Board of Trustees.

ALASKA IRONWORKERS PENSION TRUST

NT NO.6

Exhibit 13

AIPT 230


Exhibit 13

Section 202(c). For persons receivin
working il ess of 1,100 hours during the exception period will
cause them to have their monthly benefits suspended in any month in
which they worked 40 or more hours in ironwork. See Plan Section
2.05.

This plan amendment formalizes action taken at the regularly
scheduled meeting of the Board of Trustees on November 3, 2015

Chairman of the Board of the Board

AIPT 241


Exhibit 13

ENSION PLAN
RUST FUND

OF THE

PaGr 2 0r2

Section 202(c). For persons receiving a normal retirement benefit,
working in excess of 1,100 hours during the exception period will
cause them to have their monthly benefits suspended in any month in
which they worked 40 or more hours in Ironwork. See Plan Section
2.05.

This plan amendment formalizes action taken at the regularly
scheduled meeting of the Board of Trustees on April 5, 2016.

of the Board

Chairman of the Board

AIPT 243


Exhibit 13

Date but on or after July 1. 1990, the Pension for the dependent minor children is
equal to 50% of the Pension the Participant would nave received if he had

. terminated Covered Employment on the earlier of his date of death or his
actual date of termination of Covered Employment, and

. survived (and his Surviving Spouse survived) to his Earliest Distribution
Date

reduced to an Actuarial Equivalent amount as if the Participant had elected to retire
on the Surviving Spouse's date of death and to receive his pension as a Husband
and Wife Pension.

Forreu! i ater Ni bert-2049 ents-siop-at the death-of the

Barlicipant-unless the participant'¢ spouse is-entitied to further payments dueto

(8) Alternative Benefit.
In the alternative, the Surviving Spouse may. within 6 months after the Participant's
death, elect to receive instead of the Surviving Spouse's Pension a Pension equal
to the Participant's Earned Pension until a tota! of 72 monthly payments has been
made to the Surviving Spouse. If the deceased Participant's Surviving Spouse
dies before receiving 72 monthly payments, the remaining payments will be paid
to

. the Participant's designated Beneficiary, or

® if there is no designated Beneficiary, the Participant's estate.

(c) Non-Spouse Beneficiary.
If a Participant does not have a Surviving Spouse. the Participant's designated
Beneficiary will be entitled to receive a Pension equai tc the Participant's Earned
Pension beginning the first day of the month following the Participant's death until
a total of 72 monthly payments have been made. If the Participant has neither a
Surviving Spouse nor a designated Beneficiary, then the benefit described in this
Section 6.02(c) wiil be paid to the Participant's estate.

(d) Participants Not Entitled to Early Retirement.
If a Participant who would be entitled to Early Retirement but for the fact that he

has not attained age 50 dies before July 1, 1976, the number "60" will be
substituted for the number "72" wherever it appears in this Section 6.02

[End of Section 6.02)

0 ALASKA IKON WORKERS PENSION TRUST ~ AMENDMENT No. 6 PAGE oF 4

AIPT 229


Exhibit 13

ARTICLE 6 - PENSION UPON DEATH BEFORE PENSION STARTING DATE

6.02 Death of a Vested Participant.

(a) Surviving Spouse's Pension.

Spouse of a Participant who

049 The Surviving

. either:

. is entitled to Early Retirement, or
. has performed 1 Covered Hour of Employment after June 30, 1985,

. is Vested, and

. dies before his Pension Starting Date

. is entitled to receive a Surviving Spouse's Pension. Payment will begin:

. within a reasonable time after the Participant's death if he dies on or after
his Earliest Distribution Date; or

. on the Participant's Earliest Distribution Date if he dies before that date.

and
ho-di after October +4989.
i i i deathbenefit f the Partici t's dat death-it
" titled +t p-cum. ip 9.

Upon the death of the Surviving Spouse, her Pension will thereafter be paid to the
Participant's dependent minor children, if any, in the manner described in Section
6.04. If the Surviving Spouse dies before the Participant's Earliest Distribution

100543780) ALASKA IRONWORKERS PENSION TRUST — AMENDMENT NO. 6 PAGE2 OF 4

AIPT 228


Exhibit 13

(i) Effective Date.
Ti payment of

AIPT 239


AMENDMENT NO._© _

TO THE RULES AND REGULATIONS FOR THE PENSION PLAN
OF THE ALASKA IRONWORKERS PENSION TRUST FUND
AS AMENDED AND RESTATED, JANUARY 30, 2015
AND APPROVED BY THE IRS ON JUNE 9, 2015
AND ADOPTED BY THE BOARD OF TRUSTEES GN
NOVEMBER 3, 2015

CONCEPT

In order to increase the poo! of Union workers availabie to signatory
employers, and to increase contributions to the Plan, and to make it ¢
for individual Ironworkers to get a full pension credit without risking
pension forfeiture, the Ajiaska Ironworkers Pension Trust Fund will allow
certain retirees to work in covered employment for up to 1,100 hours during
the window of Tuly {, 2036 through December 31, 2016.

AMENDME!

The Plan Document wiil be amended as follows:
2.13 Temporary Change in Return to Work Rules

Persons Who are not disabled and who have been in retirement status
for three months may return to work temporarily as provided in this
section without the forfeiture or suspension of their pension benefits,

Effective July 1, 2016 and ending December 31, 2016. persons who
have been in retirement status for three months or more may return io
covered employment and may work up to but not more than 1,100
hours in covered employment for a contributing employer. Once the
individuai’s covered employment exceeds 1.100 hours during the
exception period, the exception no longer applies and the preexisting
return to work rules shall apply. That means that persons with early
retirements who return to covered employment and work more than
1,100 hours will forfeit their entire early retirement benefit. See Plan

Exhibit 13

AIPT 242