BUILDING MATERIAL DRIVERS LOCAL 436

PENSION FUND

SUMMARY PLAN DESCRIPTION

Updated as of January 1, 2014 

6051 Carey Road 

Valley View, Ohio 44125 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0175
Table of Contents 

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

JOINING THE PLAN .................................................................................................. 2 

RECEIVING BENEFITS ............................................................................................. 3 

Retirement Benefits .................................................................................................... 3 

 Starting Benefits ................................................................................................. 5 

 Benefit Amounts in General ............................................................................... 5 

 The Plan’s Various Benefit Levels ..................................................................... 5 

 Credited Service .................................................................................................. 9 

Early Retirement .................................................................................................... 11 

 Early Retirement Factors .................................................................................. 12 

Post-Retirement Return to Work ........................................................................... 13 

Forms of Payment .................................................................................................. 16 

 Life Annuity ...................................................................................................... 16 

 50% Qualified Joint and Survivor Annuity ...................................................... 16 

 75% Qualified Joint and Survivor Annuity ...................................................... 17 

 Other Payment Forms ....................................................................................... 17 

Death Benefits ........................................................................................................ 19 

 Death After Retirement Payments Have Started .............................................. 19 

 Death Before Payments Have Started ............................................................. 20 

 Death After Vesting But Before Eligibility .................................................... 20 

Disability Benefits ................................................................................................... 21 

LEAVING THE PLAN AND RETURNING ........................................................... 24 

Leaving the Plan ..................................................................................................... 24 

Vesting and One Year Breaks in Service ................................................................ 24 

Returning to the Plan .............................................................................................. 26 

Reciprocity .............................................................................................................. 26 

General Information About the Plan ........................................................................ 28 

The Board of Trustees ............................................................................................. 28 

 Changing and Terminating the Plan ....................................................................... 29 

 The Pension Benefit Guaranty Corporation ............................................................ 29 

Commencing Benefits ............................................................................................. 31 

 Disputes .................................................................................................................. 32 

Tax Issues ............................................................................................................... 34 

 Creditors, QDRO’s ................................................................................................. 35 

RIGHTS UNDER ERISA .......................................................................................... 36 

INDEX – PLAN DEFINITIONS ............................................................................... 38 

TABLE A – PLAN TRUSTEES ................................................................................ 39 

i

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0176
INTRODUCTION 

The Building Material Drivers Local 436 Pension Plan (the “Plan”) was initially 

established effective May 1, 1961. The primary purpose of the Plan is to provide 

retirement and related benefits to you, the members of the Excavating, Building Material, 

Construction Drivers and Race Track Employees Local Union 436 (hereinafter, the 

“Union”). The actual terms and conditions are stated in the Plan which is fairly 

complicated legal document. This Summary Plan Description is not the Plan document. 

Instead, it is a summary of the Plan and is intended to help you understand and appreciate 

the benefits provided to you, your family, and your other beneficiaries. 

This Summary Plan Description (hereinafter “Summary” or “SPD”) is intended to 

present the important features of a complicated legal document so you can understand 

how it operates. We have tried to be accurate and unambiguous. However, in all cases, 

the actual terms of the Plan will prevail.

Since it was originally adopted on December 26, 1961, the Plan has been restated and 

amended numerous times. The most recent restatement was adopted in January 2010 and 

is effective January 1, 2002 (the “2002 Restatement”). This Summary reflects the 2002 

Restatement and all subsequent amendments. If additional changes occur we will keep 

you informed so that you will understand how they affect you.

The Plan is governed in accordance with the provisions set forth under the Employee 

Retirement Income Security Act of 1974 (ERISA), as amended and the Internal Revenue 

Code of 1986, as amended (the “Code”) and applicable regulations issued by either the 

Department of Labor or the Treasury Department. The requirements set forth under 

ERISA, the Code and any related regulations are intended to protect your benefits and 

give you necessary information about the administration and operation of the Plan. 

The provisions of the Plan and the information in this Summary apply to members who 

are participating in the Plan as of January 1, 2002 or who became eligible to participate 

after that date. The purpose of the Plan is to provide security for you and your family. If 

you left the union before 2002, regardless of whether you have returned, the provisions of 

the Plan at the time you left may govern the retirement benefit you have accrued and the 

eligibility for such benefit under the Plan. If you are in doubt, please call the Fund Office 

at 216-328-0436 or 877-396-3436 for assistance.

If you have any questions about your situation and entitlement to benefits under the Plan

please call the Fund Office for assistance. In addition, a copy of the Plan is available for 

your review at the Fund Office.. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0177
JOINING THE PLAN

How Do I Know if I Am Eligible to Join the Plan? 

You are eligible to participate in the Plan if you work for an Employer who has a 

collective bargaining agreement with the Union which covers the terms and conditions of 

your employment and which requires them to make contributions to the Pension Fund on 

your behalf. Ask your Employer if you are not sure. 

Note: Words in Bold have special meaning and are defined in this 

Summary. An Index is located on the last page of this Summary

(page 37) that identifies where the definition of a particular bolded 

term can be found. 

When Do I Become a Participant?

You automatically join the Plan the day you start working for an Employer in worked 

covered under the collective bargaining agreement in placed between the Union and 

your Employer. 

Do I Have to Do Anything to Start My Participation? 

You will be asked to complete and sign certain forms which gives the Fund Office 

information about you such as your date of birth and the name of any Beneficiary who 

will receive any Plan benefits that are payable if you die. You will also agree to accept 

the terms and conditions of the Plan. 

If you are married, your Beneficiary is your spouse unless you and your spouse mutually 

agree to designate another individual or individuals as your Beneficiary (any such 

consent by your spouse must be in writing and notarized). If you are single, your 

Beneficiary is the individual or individuals you have designated by completing the 

necessary form with the Fund Office.

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0178
RECEIVING BENEFITS

Retirement Benefits

STARTING BENEFITS

When Can I Start Receiving Benefits? 

The primary purpose of the Plan is to provide retirement income after you have 

completed your career working in Covered Service. Covered Service includes all hours 

for which you are paid or entitled to payment pursuant to the terms of a collective 

bargaining agreement between your Employer and the Union. As discussed in this SPD, 

the earliest date you can commence receiving your benefits under the Plan has changed 

in the past few years. For all periods after November 19, 2009, you can start receiving 

benefits as early as age 62 so long as your benefits are Vested in the Plan. However, 

your benefit in this case will be actuarially reduced to account for the early 

commencement of such benefit. To receive an unreduced retirement benefit you have to 

begin receiving your benefits after you attain your Normal Retirement Date.

The definition of Normal Retirement Date under the Plan depends upon whether you 

earned your benefits before January 1, 2007 or after. 

For Service Before January 1, 2007

For benefits earned before January 1, 2007, the Plan’s technical definition of 

Normal Retirement Date is the earlier of:

(i) The later of your 62nd birthday or the date you complete ten years 

of Credited Service; or 

(ii) The later of your 65th birthday or the fifth anniversary of your 

joining the Plan. 

It’s not as difficult as it sounds and in fact usually is pretty straight forward. As 

long as you join the Plan before age 52, your Normal Retirement Date is age 62 

for benefits earned before January 1, 2007. The Plan calls this unreduced benefit 

your Normal Retirement Benefit.

The complications regarding the definition of Normal Retirement Date only 

apply if you join the Plan when you are older than 52. In that situation, if you 

don’t have the ten years at 62, you can only receive your unreduced Normal 

Retirement Benefit when you have earned ten years of Credited Service. 

In addition, if it is earlier, you can receive your unreduced Normal Retirement 

Benefit beginning on the fifth anniversary of your participation in the Plan after 

you are at least age 65. This provision is only important if you join the Plan after 

age 60. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0179
For Service After December 31, 2006 

For benefits earned after December 31, 2006 the Plan’s definition of Normal 

Retirement Date also seems complicated. However, it is straight forward for 

almost all participants. It is the earlier of:

(i) The later of your 65nd birthday or the date you complete ten years 

of Credited Service; or 

(ii) The later of your 65th birthday or the fifth anniversary of your 

joining the Plan. 

Similar to the above definition, the earliest date you can receive an unreduced 

Normal Retirement Benefit is generally age 65 for benefits earned after 

December 31. 2006. It only gets complicated if you join the plan after age 55. 

You can start benefits earlier than either Normal Retirement Date and receive a socalled Early Retirement Benefit. If you elect to receive an Early Retirement Benefit

your monthly benefit payments will be reduced. However, you are not really losing 

anything with this reduction. Your benefit amount is reduced to reflect the fact that you 

will be receiving benefits for a longer period of time since you started such benefits 

before your Normal Retirement Date. This reduction is called an actuarial reduction. 

In addition, if your day of birth is in the first ten days of your month of birth you will 

receive a payment on the first day of your birth month. In other cases, your first payment 

will begin on the first day of the month after your birth month. 

Some of My Benefits Were Earned Before 2007 and Some After? Do I Have To Wait 

Until Age 65 to Receive an Unreduced Benefit?

In most cases, yes. However, as mentioned above, you can receive some of your benefits 

on a reduced basis. An example of how this works can be found on page 12 of this SPD. 

In addition, in some cases you can actually receive an unreduced benefit at age 62 even 

though some of your Credited Service is after 2006. If you already had 32 years of 

Credited Service by December 31, 2006, you already had earned the maximum benefit 

and you can start receiving your benefit at age 62 without any actuarial reduction. 

Can I Begin Receiving My Benefits Earned Before January 1, 2007, and Wait to 

Receive My Post-December 31, 2006 Benefits?

No. When you apply to receive benefits you must apply for both pieces at the same time. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0180
BENEFIT AMOUNTS IN GENERAL

How Much Will I Get When I Retire? 

After your Normal Retirement Date, the payment you receive each month is called your 

Normal Retirement Benefit. The amount of such benefit will depend upon the 

following factors: 

(i) The years of Credited Service you have earned - The more Credited 

Service you have earned the larger your benefit will be; and 

(ii) The Benefit Level of your Employer when you earn your Credited 

Service - The higher the Benefit Level, the larger the benefit. Right now, 

the highest benefit level provides a monthly benefit of $2,700 after 32 

years of Credited Service. 

Credited Service is explained more fully beginning on page 9. Basically, after 

December 31, 2006 you earn one year of Credited Service if you work at least 2080 

hours in a calendar year for an Employer. 

THE PLAN’S VARIOUS BENEFIT LEVELS

What Are The Benefit Levels Provided by the Plan? 

Right now there are a number of Benefit Levels provided under the Plan. Among the 

benefit Levels provided under the Plan are the following: (i) Regular; (ii) Low; (iii) the 

1992 Plan Level,; (iv) the 1995 Plan Level; (v) the 1997 Plan Level, (vi) the 1998 Plan

Level; (vii) the 2000 Plan Level; (viii) the 2001($2,300) Plan Level, (ix) the 

2001($2,500) Plan Level, and (x) the 2001($2,700) Plan Level). 

Except for the Regular and Low benefit levels they all have this same format - four (4) 

different benefit rates that vary according to the amount of Credited Service accrued by 

the Participant. 

The mechanics of the Regular and Low Plan are a bit different. If your benefit is 

determined under either the Regular or Low benefit level, please contact the Fund Office 

if you want detailed information about your retirement benefit under the Plan. 

The following table shows the monthly benefit you will get for each year of Credited 

Service you earn based on the Benefit Level that has been negotiated with your

Employer. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0181
1992 ($1,002) Plan Level: The exact benefit rates that apply to the 1992 Plan Level are 

as follows: 

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $27.00 

Between 10 and 20 Years $31.00 

Between 20 and 30 Years $35.00 

Years 30 through 32 $36.00 

1995 ($1,302) Plan Level: The exact benefit rates that apply to the 1995 Plan Level are 

as follows: 

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $35.10 

Between 10 and 20 Years $40.30 

Between 20 and 30 Years $45.50 

Years 30 through 32 $46.50 

1997 ($1,525) Plan Level: The exact benefit rates that apply to the 1997 Plan Level are 

as follows: 

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $41.10 

Between 10 and 20 Years $47.20 

Between 20 and 30 Years $53.30 

Years 30 through 32 $54.50 

1998 ($1,750) Plan Level: The exact benefit rates that apply to the 1998 Plan Level are 

as follows: 

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $47.20 

Between 10 and 20 Years $54.20 

Between 20 and 30 Years $61.10 

Years 30 through 32 $62.50 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0182
2000 ($2,100) Plan Level: The exact benefit rates that apply to the 2000 Plan Level are 

as follows: 

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $56.70 

Between 10 and 20 Years $65.00 

Between 20 and 30 Years $73.30 

Years 30 through 32 $75.00 

2001 ($2,300) Plan Level: The exact benefit rates that apply to the 2001 ($2,300) Plan 

Level are as follows:

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $62.10 

Between 10 and 20 Years $71.20 

Between 20 and 30 Years $80.30 

Years 30 through 32 $82.00 

2001 ($2,500) Plan Level: The exact benefit rates that apply to the 2001 ($2,500) Plan 

Level are as follows:

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $67.20 

Between 10 and 20 Years $77.50 

Between 20 and 30 Years $87.50 

Years 30 through 32 $89.00 

2001 ($2,700) Plan Level: The exact benefit rates that apply to the 2001 ($2,700) Plan 

Level are as follows:

Years of Credited Service Monthly Benefit 

 Per Year of Credited Service

Less than 10 Years $72.60 

Between 10 and 20 Years $83.70 

Between 20 and 30 Years $94.50 

Years 30 through 32 $96.00 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0183
EXAMPLE # 1 

What would be a participant benefit base upon the following assumptions: 

Age at Retirement: 62

Credited Service: 15.5 years (all before December 31, 2006) 

Plan Benefit Level: 2001 Plan ($2,700) Level

The monthly retirement benefit would be determined as follows: 

(i) For the first 10 years, the benefit rate is $72.60 per month per year 

of Credited Service. 

 10 x $72.60 = $726.00 per month. 

(ii) For the next 5.5 years, the benefit rate is $83.70 per month per year 

of Credited Service. 

5.5 x $83.70 = $460.35 per month. 

(iii) The total monthly benefit is $1,186.35 ($726.00 plus $460.35). 

If you are married, the law requires that your retirement benefit be paid in the form of a 

50% Qualified Joint and Survivor Annuity (“50% QJ&S Annuity”). A 50% QJ&S 

Annuity includes “life insurance coverage” to provide certain benefits to a Participant’s 

surviving spouse, only if the Participant predeceases his or her surviving spouse. 

Because this life insurance to your surviving spouse has a cost, your Normal Retirement 

Benefit is reduced if you decide to accept this protection. The 50% QJ&S Annuity is 

explained further on page 16 along with the ability to waive such coverage and select 

another distribution method instead of a 50% QJ&S Annuity. 

How Can I Find Out My Employer’s Negotiated Benefit Level?

Ask your Employer or contact the Fund Office. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0184
What If I Work For Different Employers Who Have Different Contribution Rates? 

These situations can get complicated. The general rule is that the benefit level is 

determined by the provisions of the Plan when you earned each year of your Credited 

Service. The intent is to treat you and the Plan fairly. The Plan does not want to penalize 

you and it does not want to give you a windfall. 

For example if you work and earn a total of 18 years of Credited Service, the first 15 

under the 2000 Plan Benefit Level and the last 3 under the 2001 Plan ($2700) Benefit 

Level, your benefit would be determined as follows: 

EXAMPLE # 2 

(i) For the first 15 years in 2000 Plan: 

 $567+ 5 years times $65 per month per year of Credited Service

 or $567+$325 = $892.00. 

(ii) For the last 3 years which were in the 2001 Plan ($2700): 

 3 years times $83.70 per month per year of Credited Service

 or 3 times $83.70 = $251.10. 

(iii) Total monthly benefit is $1,143.10 ($892.00 + $251.10) 

 

CREDITED SERVICE

What is Credited Service? 

Credited Service is one of the most important terms and conditions of the Plan because 

it is one of the key components used in determining the monthly amount of your Normal 

or Early Retirement Benefit, , as well as the amount of any benefits your Beneficiary

or Beneficiaries may be entitled to upon your death. For each calendar year that you are 

working in Covered Employment you can earn up to one year of Credited Service

depending upon how many hours you work. Credited Service is also one of the Plan’s

more complicated aspects because different rules apply to different time periods. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0185
1961 through 1990 

After 1961 and before December 31, 1991, if you worked 750 hours in a calendar 

year you earned a half year of Credited Service. If you worked at least 1,500 

hours, you earned a full year. For hours between 751 and 1,499 credit under the 

Plan was pro-rated according to the following table: 

HOURS WORKED CREDITED 

SERVICE(YRS)

1,500 or more 1.0

1,350 to 1,499 .90

1,200 to 1,349 .80

1,050 to 1,199 .70

900 to1,049 .60

750 to 899 .50

1991 through 2006 

Between January 1, 1991 and December 31, 2006, the rules related to the award 

of Credited Service were different. You had to work at least 1,300 hours to 

receive a full year of Credited Service. If you did not qualify for a full year of 

Credited Service because you did not work at least 1,300 hours, you could earned

partial credit (in 1/10ths) if you worked at least 650 hours during the year. Partial 

credit was earned according to the following table: 

HOURS WORKED CREDITED 

SERVICE(YRS)

1,300 or more 1.0

1,170 to 1,299 .90

1,040 to 1,169 .80

910 to 1,039 .70

780 to 909 .60

650 to 779 .50

After 2006 

Beginning January 1, 2007, you have to work at least 1,000 hours to earn any 

Credited Service and you have to work 2,080 hours to earn a full year of 

Credited Service. If you work less than 2,080 hours (but at least 1,000) your credit 

is pro-rated by dividing your hours by 2,080 and rounding to the nearest

thousandth. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0186
EXAMPLE #3 

If you work 1,700 hours, you will earn .82 years of Credited Service 

(1,700/2,080 = .817). 

If you work 1,250 hours you will earn .60 years of Credited Service 

(1,250/2,080 = .60) 

Except for the last year in which you work in Covered Service and retire, you 

will not earn any Credited Service if you work less than the minimum required to 

earn any credit. For your last year after 2006, you will earn a credit equal to your 

hours worked divided by 2080, rounded to the nearest hundredth. 

What If Happens If I Have To Wait Until Age 67 To Receive my Unreduced Social 

Security Retirement Benefits? 

Normal or early retirement ages allowed in Social Security only affect your Social 

Security benefits. They do not affect the benefit provided to you under the Plan.

Early Retirement

Can I Receive Benefits Before Age 65? 

Yes, however, the earliest age you can retire was changed effective as of November 19, 

2009 in accordance with the Rehabilitation Plan as adopted by the Trustees on that date 

and updated annually. The Rehabilitation Plan and any updates was adopted in order to 

comply with the requirements imposed upon the Plan by the pension Protection Act of 

2006 (“PPA”). You can request copies of the Rehabilitation Plan and any annual updates 

by contacting the Fund Office.

Prior to November 19, 2009 If you have at least 15 years of Credited Service you were 

eligible to commence receipt of your benefits as early as age 57. However, if you start 

receiving benefits before the applicable Normal Retirement Date(s) the monthly amount 

of your benefit was actuarially reduced. Your benefits were reduced because starting 

early meant that benefits will be paid to you for a longer period of time. 

After November 19, 2009. Early Retirement will only be allowed after attainment of 

age 62. Participants can no longer retire prior to age 62 under the Rehabilitation Plan. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0187
EARLY RETIREMENT FACTORS

How Much Will They Be Reduced? 

The factor that is applied to your Normal Retirement Benefit depends on three things: 

1) the age you start receiving benefits; 2) when you earned your benefits; and 3) the 

Normal Retirement Date associated with the benefit.

The following table is effective for benefits that commence before November 19, 2009 

and gives the applicable retirement factors at each full year age . 

Before After

January 1,2007 December 31, 2006

57 59.01% 41.86%

58 65.32% 46.34%

59 72.44% 51.39%

60 80.49% 57.10%

61 89.62% 63.58%

62 100.00% 70.94%

63 100.00% 79.34%

64 100.00% 88.95%

65 100.00% 100.00%

Retirement Benefits Earned

Age

EARLY RETIREMENT FACTORS

So, if you start receiving benefits at age 60 and all of your benefit was earned before 

January 1, 2007 (and commence receipt of such benefits prior to November 19, 2009); 

you multiply your Normal Retirement Benefit by 80.49% to determine your monthly 

payment. If all of your service was earned after December 31, 2006; the age 60 early 

retirement factor is 57.1%. When you actually apply for benefits, the early retirement 

factors will be based on your age in years and months. So, for example, if you apply at 

age 601⁄2, the factor will be slightly larger than the amounts shown. 

Of course, for most participants, your benefit will be based on service before and after 

December 31, 2006. This means different retirement factors will be applied to the two 

pieces of your total benefit, the piece earned before January 1, 2007 and the piece earned 

after December 31, 2006. 

To understand how this works, let’s return to Example #2 on page 8. In Example # 2 we 

determined that 15.5 years of Credited Service, all earned before December 31, 2006, 

would earn a monthly benefit of $1,186.35 with payments starting at age 62. Of this, the 

first ten (10) years of Credited Service earned $726 per month and the last 5.5 years 

earned $460.35. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0188
Let’s change the facts a little and say that the total Credited Service still is 15.5 years but 

that the first ten (10) years occurred before January 1, 2007, and the last 5.5 occurred 

after January 1, 2007. Further for purposes of this Example #4 let’s say that benefit 

payments are to start at age 62 (since a participant can no longer retire before age 62 

under the Rehabilitation Plan) and payment commenced as of January 1, 2012. 

Since the Normal Retirement Date is age 65 for the $460.35 amount earned after 

December 31, 2006, and is age 62 for the $726.00 amount earned before that date, these 

two amounts must then be multiplied by the applicable early retirement factors because 

the benefit will commence at age 62. 

The amount payable at 62 in this case would be determined as follows: 

EXAMPLE #4 

 1. a. Benefit earned before January 1, 2007: $726.00 

 b. Early Retirement Factor at 62: N/A 

 c. Benefit Payable at 62: $726.00 

 plus 

 2. a. Benefit earned after December 31, 2006: $460.35 

 b. Early Retirement Factor at 62: 70.94% 

 c. Benefit Payable at 62 (a multiplied by b): $326.57 

 3. Total Benefit at age 62 (1c+2c) $1,052.57

 

Post-Retirement Return To Work 

What If I Return To Work After I Retire? 

The Plan set forth certain restrictions on the ability to work and receive a pension benefit 

under the Plan. Whether you can return to work after you retire will depend on several 

factors, including the type of work you wish to perform and whether you are under or 

over the age of 65 (for periods on or after January 1, 2007). You may request an advance 

determination from the Fund Office of whether a particular job is considered 

disqualifying or otherwise prohibited under the terms of the Plan. However, if you 

retired before January 1, 2007, you may be able to return to work prior to age 65. You 

should contact the Fund Office with any questions. 

WORK BEFORE AGE 65. Your monthly pension benefit will be suspended during any 

month in which you are employed in so-called “Disqualifying Employment”. 

Disqualifying Employment for the period before age 65 shall include performing work 

within the jurisdiction of the Union, which is of the type covered by a labor agreement 

between the Union and any Employer, or in any type of work normally performed by the 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0189
Union. However, you are allowed to work any job that is not within the jurisdiction of 

the Union and is not work that is performed by the Union. 

With respect to any Disability pensioner, he shall have his payments suspended for any 

calendar month in which he performs any work of any type for which he receives or is 

entitled to receive compensation. 

WORK AT AGE 65 OR OLDER. You will lose your pension for any month in which you 

work for forty (40) hours or more in Disqualifying Employment, or other work in an 

industry in the jurisdiction and geographic area of the Plan and in a job in which you 

worked under the Plan, or any job covered by the Plan when your pension began. 

Notwithstanding the above restriction, you can work up to 110 hours per month and also 

continue to receive benefit payments. However, there are several conditions that must be 

met for this to happen: 

(i) The work must be performed during May through October for a 

contributing employer; 

(ii) Your Employer must make contributions on your behalf in accordance 

with the applicable Collective Bargaining Agreement;

(iii) Your Employer cannot have any union members on layoff; 

(iv) You retired under the Plan’s provisions with either a Normal or Early 

Retirement; 

(v) The Welfare Fund of Teamsters Union Local 436 does not require 

contributions; and 

(vi) You and your Employer sign documents developed by the Plan that 

acknowledge Plan provisions and responsibilities in this regard. 

What Happens If I Violate These Rules?

If you under age 65 and work in Disqualifying Employment or are over age 65 and do 

not satisfy the hour limitation and other rules set above, your pension will be cancelled 

for the affected month or months related to such employment. Your benefits will be 

suspended until you notify the Plan that you have retired from your reemployment in the 

industry. You may request a review of the determination to suspend your benefits by 

filing a written request with the Board of Trustees within 180 days of the notice of 

suspension. This same right to review applies to an advance determination as to whether 

a job constitutes Disqualifying Employment. If you have worked in prohibited 

employment, the Trustees shall presume that you have worked for at least 40 hours in 

such month and any subsequent month before you provide notice that you have ceased 

the prohibited work. You will have the right to overcome this presumption by presenting 

proof satisfactory to the Trustees that you did not work in Disqualifying Employment. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0190

-
If your pension benefit has been suspended, payment of such pension shall resume no 

later than the first day of the third calendar month after the calendar month in which you 

cease to be employed in Disqualifying Employment. The initial payment upon 

resumption will include the payment scheduled to occur during the month of 

recommencement along with any amount withheld during the period between the 

cessation of benefits due to the Disqualifying Employment and resumption of the

benefit payments. 

 

What If I Work Beyond Age 70 1⁄2? 

Federal tax law requires that you start receiving Plan benefits no later than the April 1 

following the calendar year you reach age 70 1⁄2. However, the Plan will permit you to 

defer commencement of your benefit payments until you actually retire, if you so elect. 

Upon reaching age 70 1⁄2, you may choose to either begin payments and continue working

in covered service, or defer payments until you retire. This choice is irrevocable. If you 

defer payments until you retire, you will be compensated for any missed payments in the 

manner described below. 

To compensate you for any missed payments of the benefits you have earned up to the 

date the law says that payments should have started plus any new benefits you earn after 

that date will be actuarially increased to provide you equal value to what you would have 

received had payments started. There will also be an adjustment for any payments you 

receive. However, there will be no actuarial adjustment if you decide to begin payments 

at the legally required beginning date (usually age 70 1⁄2) and continue to work in covered 

service. 

Note: That no work performed after you reach the required beginning date for receipt of 

your pension (in general, age 70 1⁄2) will be treated as Disqualifying Employment. 

Do I Have To Do Anything Special If I Return To Work? 

You need to tell the Fund Office in writing within 15 days after you go back to work and 

you need to provide any information regarding such employment as may be requested by 

the Fund Office. You need to do this even if you do not expect to work more than 40 

hours per month or you do not believe such employment constitutes disqualifying 

employment. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0191

---
Forms of Payment

LIFE ANNUITY 

How Will My Benefits Be Paid? 

Once payments start, you will receive a monthly payment as of the first of each month as 

long as you remain alive. Your payments will start on the first day of the month after you 

have satisfied the requirements for a pension benefit and have filed the necessary 

application and required documentation with the Fund Office. However, if you eligible 

for a Normal Retirement Benefit and your birthday occurs during the first ten (10) days 

of the month, you will receive your first monthly benefit retroactive to the beginning of 

the month. 

If you unmarried at the time you commence your retirement benefit will generally be paid 

in the form of a Life Annuity, unless you elect a different form of benefit. A Life 

Annuity is a monthly benefit payable for your life and will cease upon your death; 

provided, however, in the past the Life Annuity provide a sixty (60) months guarantee of 

payments, even if you did not live that long that would be paid to your designated 

beneficiary. This sixty (60) month guarantee was eliminated as of November 19, 2009 in 

accordance with the Rehabilitation Plan adopted under PPA. 

If you have been married for at least one year prior to the start of your benefit payments, 

the mandatory form of payment is a 50% Qualified Joint and Survivor Annuity. In 

addition, effective as of January 1, 2008, you can also elect to have your benefit paid in 

the form of a 75% Qualified Optional Survivor Annuity.

50% QUALIFIED JOINT AND SURVIVOR ANNUITY

What is a 50% Qualified Joint and Survivor Annuity? 

A 50% Qualified Joint and Survivor Annuity (“50% QJ&S Annuity”) is a form of 

benefit that provides a reduced benefit to you for your life along with a surviving 

monthly benefit payable to your spouse upon your death. In other words, you will 

receive a monthly benefit that is slightly smaller than your Normal Retirement Benefit

or your Early Retirement Benefit would be if paid in the form of a Life Annuity; 

however, when you die your surviving spouse will receive 50% of the benefit that was 

being paid to you while you were alive. Spousal payments continue as long as your 

spouse is alive. 

The amount of reduction that is applied to your monthly benefit to provide a 50% QJ&S 

Annuity depends on your age and your spouse’s age when payments begin. For most 

people, the reduction is between 10% and 15%. That means you will typically receive 

85% to 90% of the benefit that would have been payable without the 50% QJ&S 

Annuity feature. When you apply for retirement benefits the Fund Office will tell you 

about all the payment options you have and the exact amounts payable under each option 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0192
so you can make an informed choice. They will also supply all the forms you will need to 

complete to make a benefit election. 

75% QUALIFIED OPTIONAL SURVIVOR ANNUITY

What is the 75% Qualified Optional Survivor Annuity? 

The 75% Qualified Optional Survivor Annuity is a payment form that was added to 

the Plan by the Trustees and is effective for any distributions made on or after January 1, 

2008. The 75% Qualified Optional Survivor Annuity means that the Participant will 

receive a reduced monthly amount for life and, if the Participant dies before his Qualified 

Spouse, the Qualified Spouse will be entitled to receive 75% of the reduced lifetime 

amount that the retired Pensioner was receiving at the time of his death. The participant 

can elect payment of his retirement benefit in the form of a 75% Qualified Optional 

Survivor Annuity without written spousal consent 

OTHER PAYMENT FORMS

If I Am Married Do I Have To Take My Benefit in Either the Form of a 50% QJ&S 

Annuity or 75% Qualified Optional Survivor Annuity? 

No. The 50% QJ&S Annuity is the default payment form if you are married and the 

75% Qualified Optional Survivor Annuity is another option available to a married 

participant on or after January 1, 2008; however, you and your spouse may elect for 

payment of Single Life Annuity or one of the optional benefit payment form provided 

under the Plan. However, any decision to forego the 50% QJ&S Annuity or the 75% 

Qualified Optional Survivor Annuity and/or select a beneficiary other than your spouse 

must be made in writing and must be agreed to by both you and your spouse. 

At the time you apply for benefits you will receive distribution election forms to 

commence your pension benefit and select the form of payment you and your spouse 

want. These forms must be signed by you and your spouse in front of a notary public and 

must generally be completed within 30 days before benefit payments begin. 

Regardless Of Whether I Am Married or Not, Are There Other Ways To Receive 

Benefits Besides Either a Life Annuity, a 50% QJ&S Annuity or a 75% Optional 

Survivor Annuity? 

Yes. You have two other options: 

1. 120 Month Certain Option

This form of benefit is paid as a Life Annuity with guaranteed payments for a 

period of at least 120 months. If you die prior to receipt of a 120 monthly 

payment the remaining guarantee payments will be made your designated 

beneficiary. Obviously, because of the 120 month guarantee there is also a 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0193
reduction in your Normal Retirement Benefit for this feature. This reduction 

depends on the age at which you start to receive benefits. If you married and 

want to select this form of payment, your spouse has to agree and consent to the 

election of this 120 Month Certain Option. 

2. 50% Contingent Pension

You can also decide to have your benefits paid in a manner that is very similar to 

the 50% QJ&S Annuity that has to be offered to married participants. The Plan

calls this a 50% Contingent Pension. The difference between the two is that the 

person who receives the continuing benefits if you die first, your Beneficiary,

does not have to be your spouse. You do not have to be married to receive this 

form of payment. 

Of course, if you want this form of payment and you are married, your spouse has 

to agree in writing to waive the 50% QJ&S Annuity and consent to the nonspouse beneficiary you have selected. There are some restrictions on when this 

benefit option is available. The Board of Trustees can reject this option when 

certain parameters are not satisfied. For example, this benefit option may not 

available if there is a very large difference between your age and the age of your 

designated Beneficiary. The Plan office will inform whether this option is 

available based upon the information provided and the age of the Beneficiary you 

have selected.

As with the 50% QJ&S Annuity, the benefit you receive under the 50% 

Contingent Pension is reduced to pay for the cost of this feature. The actuarial 

reduction depends upon your age and the age of your beneficiary. You will 

receive the reduced benefit and your beneficiary receives 50% QJ&S Annuity of 

this amount if you die first. If you are interested in this option, the Fund Office 

will give you the estimated amounts that would be payable to you and your 

Beneficiary.

You Mean I Can’t Get A One Time Lump Sum Payment Of My Benefit?

That is generally correct. However, a lump sum payment will be made if the Plan

determines that the actuarial value of your benefit payments is less than $1,000. 

So, if you terminate employment and apply for a pension benefit, and the Plan

determines that the value of your retirement benefit is less than $1,000, such benefit will 

automatically be paid to you in the form a single lump sum payment. 

If the actuarial value of your benefit payments is $1,000 or greater, but does not exceed 

$5,000, you may elect to receive a single lump sum payment as soon as administratively 

feasible after your retirement or termination of employment. If this situation exists you 

will be contact by the Fund Office at the time of your retirement or termination of 

employment

 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0194
After payment of any lump sum amount whether mandatory or permissible, the Plan will

have no other future obligations to you or your Beneficiaries. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0195
Death Benefits

What Does the Plan Provide When I Die?

The Plan is a retirement Plan not a life insurance plan so you should not count on it to 

provide your life insurance needs. Nonetheless, the Plan is set up so that your spouse or 

other beneficiaries are protected from completely losing your Vested retirement benefits 

because of an untimely death. The death benefits payable from the Plan depend upon 

when you die and your Plan status (Are you a retiree, actively at work past age 6 2, 

Vested terminated, etc.). 

The term Vested is fully explained on page 24. You usually become Vested after earning 

5 years of Credited Service under the Plan. The following questions highlight some of 

the possible payment situations. 

DEATH AFTER RETIREMENT PAYMENTS HAVE STARTED

What Happens If I Die After Benefit Payments Have Started? 

As explained previously, if you are married when you apply for benefits, the default form 

of payment is a 50% QJ&S Annuity. This will occur unless both of you agree to another 

form of payment in writing before a notary. Under the 50% QJ&S Annuity your spouse 

will continue to receive half of the monthly amount that was paid to you while you were 

alive. These payments will continue as long as your spouse is alive. 

If you are single and have selected a Life Annuity (or you are married and have selected 

Life Annuity with proper spousal consent) no additional benefits will be to you upon 

death. However, if you are single or you are married and have selected the 120 Month 

Certain Option (with proper spousal consent if married), you are guaranteed that 120 

payments will be made to you and/or your designated Beneficiary. For example, if you 

choose 120 Month Certain Option benefit option and you die after 48 monthly 

payments have been made; your Beneficiary will receive monthly payments for the next 

72 months. If your Beneficiary dies prior to receiving the 72 monthly payments, the 

remaining payments will be paid to his/her designated Beneficiary and if none was 

selected, then the remaining amounts will be paid to your Beneficiary’s estate. 

Further, if you are single or you are married and have selected the 50% Contingent 

Pension (with proper spousal consent if married), an annuity equal to 50% of the benefit 

paid to you will be paid to your contingent beneficiary upon your death. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0196
DEATH BEFORE PAYMENTS HAVE STARTED

What Happens If I Die After I Am Eligible To Receive An Early Or Normal 

Retirement Benefit But I Have Not Started Receiving Benefits?

It depends upon whether you are married or not at the time of your death. If you are not 

married, no benefits are payable. If you are married, benefits are payable as follows. 

The Plan pretends as if you retired the day before you died, applied for benefits, and such 

benefits were paid in the default form of a 50% QJ&S Annuity, and then passed away

the next day. 

This means the Plan will determine what you would have received if you had lived and 

retired. Your spouse will then receive 50% of this amount. Remember that an actuarial 

reduction for the 50% QJ&S Annuity form of payment will apply and an actuarial 

reduction for Early Retirement may also apply. The Plan calls this death benefit a PreRetirement Surviving Spouse Annuity.

Your surviving spouse can decide that they would like to postpone the beginning of 

benefit payments. If they do, the monthly amount they eventually receive will be 

actuarially adjusted, usually increased, to reflect the fact that payments will ultimately be 

paid over a shorter time period. 

DEATH AFTER VESTING BUT BEFORE ELIGIBILITY FOR EARLY RETIREMENT

What Happens If I Die After I Become Vested But Before I Am Eligible For An 

Early Retirement Benefit? Does It Matter Whether I Am An Active Participant or 

Not?

It doesn’t matter whether you are active or whether you have left the Union. If you are 

Vested (generally you have five or more years of Credited Service) your surviving 

spouse will be eligible to receive a Pre-Retirement Surviving Spouse Annuity from the 

Plan. If you are not married, the Plan does not pay any death benefits. 

In this situation to determine what your spouse will receive, the Plan pretends a few 

things happen. First it pretends that you terminate your membership in the Plan. Then it 

pretends that you will live to the day before the earliest date you could receive a 

retirement benefit (usually age 62 for periods on or after November 19, 2009) and apply 

for your benefits under a 50% QJ&S Annuity form of payment. Finally it pretends you 

then die. The Plan also calls this death benefit a Pre-Retirement Surviving Spouse 

Annuity. 

The end result of this is that your surviving spouse is eligible to receive a 50% QJ&S 

Annuity of the amount that would have been payable if all these things had happened.

For example if you die when you are age 40 and have 20 years of Credited Service and 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0197
your wife is 35; in 22 years when you would have been 62 and when your surviving 

spouse is 55, she can start receiving benefits. 

Please note that not only will your spouse usually have to wait several years to receive 

benefits; the Pre-retirement Surviving Spouse Annuity monthly benefit amounts will 

usually be fairly small since several actuarial adjustments are applied. These adjustments 

could include an early retirement adjustment,), as well as the adjustment related to 

payment as a 50% QJ&S Annuity adjustment. 

Your surviving spouse can decide that they would like to postpone the beginning of 

benefit payments. If they do, the monthly amount they eventually receive will be 

actuarially adjusted, usually increased, to reflect the fact that payments will ultimately be 

paid over a shorter time period. 

Disability Benefits 

What Happens If I Become Disabled?

As previously discussed, on November 19, 2009 the Board of Trustees adopted a 

Rehabilitation Plan in order to comply with the requirements imposed by Congress under 

PPA. Under the Rehabilitation Plan, the Disability Pension benefit as provided under the 

Plan was eliminated. Therefore, you will not be eligible for a Disability Pension unless 

you were already approved for such benefit prior to the later of: (i) November 19, 2009; 

or (ii) the date that your Employer’s CBA with the Union expired that was in place as of 

November 19, 2009. 

In the past a participant was eligible for a Disability Pension if he or she became “Totally 

and Permanently Disabled”, while an active participant. In addition to being Totally and 

Permanently Disabled the participant must also have had 15 years of Credited Service as 

of the date of disability. 

If the Plan decided that you are eligible for a disability benefit you will receive the 

amount of your Normal Retirement Benefit based on your Credited Service as of your 

date of disability and the applicable Benefit Level of your Employer on that date. No 

actuarial adjustment for early commencement of payments is made for a Disability 

Pension. 

How Do I Know if I am “Totally and Permanently Disabled” According to the Plan? 

The Plan will consider you to be Totally and Permanently Disabled if it is determined by 

the Board of Trustees that you cannot perform your normal job functions because of 

physical or mental impairment, disease, loss of limb(s), or any combination of these. It 

also must conclude that this inability to do your job is likely to be permanent during your 

lifetime and that your condition will not improve. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0198
How Does The Plan Make This Determination?

After the condition(s) causing your disability have persisted for at least six months from 

your date of disability, the Board of Trustees will make this determination based on 

competent medical evidence. Eligibility for Social Security disability payments will be 

considered but will not guarantee that you are eligible for a Disability Pension under the 

Plan. You may be asked to provide additional proof that you are still disabled after 

payments have started.

Additionally the Board of Trustees may enlist the aid of an independent medical 

professional to assist them in making this decision. 

Are Any Conditions Automatically Considered To Be The Cause Of “Total And 

Permanent” Disability?

Yes, if you lose sight in both eyes, severe both hands above the wrist, both feet above the 

ankle, or one hand above the wrist and one foot above the ankle. 

Are Any Situations Automatically Excluded?

Yes. If your disability is the result of your participation in a felonious criminal act, is the 

result of your habitual drunkenness, addiction to narcotics, a self-inflicted injury, or 

military service for which a governmental disability pension is payable. 

Does The Credited Service Used To Determine My Benefit Include The Six Month 

Waiting Period? 

No Credited Service is counted only through your date of disability, the first day you are 

unable to perform your job. However, once a determination has been made that you are 

eligible for benefits; benefits will be paid retroactively beginning with the day of the first 

month following your date of disability.

How Long Can I Receive Disability Payments?

Disability payments continue as long as the Plan believes you are Totally and 

Permanently Disabled, until you die. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0199
What Happens If I Die While I Am Receiving Disability Benefits?

If you are married your disability benefits will be paid under the 50% QJ&S Annuity

form of payment, unless both you and your spouse agree in writing that you do not want 

this. Remember under the QJ&S form your disability payments will be reduced slightly. 

If you die, your spouse will receive 50% QJ&S Annuity of this amount for as long as 

she lives.

If you are not married or if you both elect away from the 50% QJ&S Annuity, your 

Beneficiary or Beneficiaries will receive the Plan will finish paying any of the 

remaining 60 payments that are guaranteed. However, the 60 payment guarantee applies 

only if you retired with this benefit. If you retired after effective date of the rehabilitation 

plan, please call Fund Office to determine if this benefit is available to you. 

What Happens If I Live To 65? 

Your Disability Pension will continue without interruption. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0200
LEAVING THE PLAN AND RETURNING

LEAVING THE PLAN

If I Leave The Union, The Plan, and/or My Employer Can I Ever Receive Benefits 

From The Plan? 

It depends. If you are Vested when you leave you will be entitled to a pension benefit 

under the Plan. If you have at least five years of Eligibility Service and are Vested, you 

cannot lose any benefits you earned while you were in the Plan. If you aren’t Vested

when you leave the Plan you may eventually lose your Credited Service and associated 

benefits. However, you will not lose your Credited Service immediately when you quit 

working. You have up to five years to return to Covered Employment before you will 

forfeit the Credited Service you previously accrued under the Plan. 

Technically after you are Vested (and even if you are not Vested but have not been gone 

for five years) you are still a participant in the Plan even if you aren’t working for an 

Employer, aren’t paying dues, etc.

The five year limbo period is explained more fully below in the question regarding One 

Year Breaks in Service. The important point is that once you are Vested you cannot lose 

anything, but if you are not Vested your accrued benefits are potentially subject to 

forfeiture. 

VESTING AND ONE YEAR BREAKS IN SERVICE

What Does The Term “Vested” Mean? 

“Vested” and all terms like it (Vesting, Vested Benefits, etc.) simply indicate complete 

ownership of your future benefits. You start earning benefits the moment you join the 

Plan. However, you don’t own them until you become “Vested.” This happens when 

you have earned at least five (5) years of Eligibility Service. After you are Vested you 

cannot lose benefits or credit for any hours you have worked in Covered Service. 

Eligibility Service is one of the two types of service that are defined in the Plan (the 

other is Credited Service which was discussed on page 9). For each calendar year 

beginning with 1976, you earn 1 year of Eligibility Service if you work at least 870 

hours. If you work less, you will receive a partial year credit equal to whatever Credited 

Service you earned for that year. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0201
What is a One Year Break in Service? 

If you left work before January 1, 1999 you must have 10 years of Eligibility Service to 

be Vested. If you have worked at least one hour after January 1, 1999, you only need to 

have 5 years of Eligibility Service to be Vested.

. 

If you are not Vested you need to be aware of the so-called “Break in Service” rules. 

Effective as of January 1, 1976, if you don’t work at least 435 hours in a given calendar 

year you will incur a One Year Break in Service for that year.

If you do not work 435 hours or leave Covered Service before you are Vested, i.e. 

before you have 10 years of Eligibility Service, and then incur five consecutive One 

Year Breaks in Service your previously accrued benefits under the Plan will be 

forfeited.

Therefore, if you incur 4 or fewer One Year Breaks, when you return to Covered Service

with an Employer, your Eligibility Service (and your Credited Service) will be restored

and you will not lose or forfeit anything.

However, if you return after you have five or more consecutive One Year Breaks in 

Service it will be deemed a Permanent Break in Service and you will lose both your past 

Eligibility Service and your Credited Service. You will be treated like a new participant 

upon your return to work. 

What If I Leave The Union and/or My Employer? How Do I Get My Contributions 

Back?” 

You can’t. Your Employer(s) make contributions to the Plan based on the hours you 

work and their negotiated contribution rate under the CBA. However, these amounts are 

not “your contributions.” They are made on your behalf for the purpose of funding the 

Plan for all participants. There is no individual account in your name or in any other 

member’s name.

If you leave employment you may be entitled to receive a benefit immediately or at some 

point in the future, if you are Vested. Your spouse will also be eligible to receive certain 

benefits if you die before you begin to receive benefit payments under the Plan. 

Receiving benefit payments is the only way you can receive the contributions that were 

made on your behalf. 

How Do I Apply for Benefits if I Am Not Working For an Employer? 

Just like if you were still working. Contact the Fund Office and requested a pension 

application. Of course, if you die, your surviving spouse or other Beneficiary will need 

to contact the Fund Office.

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0202
RETURNING TO THE PLAN

What Happens if Leave Covered Service and Return? 

You are treated just like a new participant. The only issue is whether you are Vested

and/or have not incurred five consecutive One Year Breaks in Service. As addressed 

above, if you have incurred five consecutive One Year Breaks in Service this will be 

deemed a Permanent Break in Service and you will forfeit and lose all of the Eligibility 

Service and Credited Service previously earned under the Plan. If you have not 

experienced five consecutive One Year Breaks in Service then your past Credited 

Service is re-instated and added to any new service you earn. 

RECIPROCITY

What Happens if I Have Participated in Another Teamsters Pension Plan? 

The Board of Trustees has mutual agreements, called Reciprocal Agreements, with a 

number of other Teamster Pension Plans to try to prevent you from being hurt if you 

worked for different Unions in various geographical locations and participate in multiple 

pension plans. The Reciprocity Agreements between plans may allow you to qualify for 

benefits you would not otherwise qualify for if each plan was looked at separately and it 

may also increase the pension benefits you are entitled to receive. Further, it will keep 

you from incurring one or more One Year Breaks in Service that would otherwise occur

without reciprocity. 

For example, you need 15 years of Credited Service to be eligible for Early 

Retirement. If you have 10 years in our Plan and 10 years in another plan with a 

Reciprocal Agreement with us, you would qualify for Early Retirement based on your 

combined service. 

Without a Reciprocal Agreement, you would not qualify for these benefits. In general a 

Reciprocal Agreement tries to treat you as having worked continuously for Employers 

in our Plan instead of having your service split between our Plan and one or more other 

plans. 

What is Related Service Credit and Combined Service Credit? 

When you work in our Plan you earn Credited Service. When you work in another plan

with a Reciprocal Agreement, the Credited Service you earn in that Plan under its 

terms is called Related Service Credit. Of course, you can’t earn more than one year of 

service for any given calendar year.

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0203
When you add your Credited Service from our Plan to your Related Service Credit the 

total is your Combined Service Credit. When each plan is trying to determine your 

eligibility for various benefits, if you don’t have enough Credited Service both will then 

check to see if you have enough Combined Service Credit to qualify. Combined Service 

Credit is also used to determine the amount of your Partial Pension. 

What is a Partial Pension? 

Partial Pension is just the term used when the benefit you are eligible for from our Plan

depends upon one or more Reciprocal Agreements. Your Partial Pension is determined 

in three steps:

1. Calculate a benefit from our Plan based on your Combined Service 

Credit and based upon the benefit level of the last Employer you 

worked for in our Plan when you leave it. 

2. Divide your Credited Service from our Plan by your Combined 

Service Credit.

3. Multiply these two amounts. 

Are There Any Other Eligibility Requirements To Receive A Partial Pension? 

In general you have to meet any requirements that are in our Plan for specific benefits

(like 15 years for Early Retirement) but you get to use Combined Service Credit not just 

your Credited Service in our Plan to meet these requirements. In addition:

1. You have to have at least two years of Credited Service in our Plan

based on actual employment and contribuions; 

2. You have to be eligible for a Partial Pension from a related plan, that 

is a plan with which we have a Reciprocal Agreement; and

3. You cannot be entitled to a benefit from the related plan, other than a

Partial Pension. If you are entitled to a separate retirement benefit 

from the related plan you may elect to waive that benefit in favor of a 

Partial Pension from both plans. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0204
GENERAL INFORMATION ABOUT THE PLAN

THE BOARD OF TRUSTEES

Who Runs the Plan? 

All decisions regarding the operation of the Plan are made by the Plan’s Board of 

Trustees. The Board of Trustees is composed of an equal number of representatives of 

the Union and representatives of the Employers who employ individuals who a 

represented by the Union and covered under the Plan. The current list of Trustees is set 

forth on Table A that is attached to the SPD

What Kind Of Decisions Do the Board of Trustees Make?

The Board of Trustees is responsible for maintaining records of members, receiving 

claims for benefits, determining eligibility for benefits, making determinations on appeals 

of claim denials, authorizing payment of benefits, interpreting and administering the Plan 

document, maintaining accounting records and filing government reports. The Board of 

Trustees employs an accountant, attorney or other specialists to assist in the proper 

administration of the Plan, and may amend or terminate the Plan. 

Additionally, the Board of Trustees receives and deposits contributions, determines 

investment policy, invests plan assets, and makes payment of benefits. The Board of 

Trustees operates solely on behalf of the participants and their beneficiaries.

What Happens to All the Contributions That Are Made to the Plan? 

They are used to pay benefits and to pay the expenses of administering the Plan. The 

Board of Trustees is required by law to invest the Plan’s assets prudently so that 

reasonable investment returns are achieved without undue investment risk. Therefore, the

Board hires several professional money managers to invest portions of the total assets.

Each of these money managers has different areas investment expertise. The intent is for 

the Plan’s assets to be broadly invested in all phases of the economy balancing 

investment opportunities against their associated risk. 

The Board also hires an investment consultant to help maintain a prudent invest policy 

and to select the appropriate money managers to implement that policy. The investment 

consultant also monitors the performance of each money manager to make sure they are 

achieving the results that are expected from them.

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0205
CHANGING AND TERMINATING THE PLAN

Can the Plan Be Changed?

Yes. The Board of Trustees has the authority to change the Plan. It can be changed in 

the future and it has been changed in the past. Sometimes Federal law requires such 

changes. The change from 10 year to 5 year Vesting is an example of this. Other times, 

the changes were made solely because the Board of Trustees thought it was appropriate. 

The numerous improvements that started in 1992 are examples of these kinds of changes.

The current changes to the definition of Normal Retirement Date and Credited Service

are other examples.

Most importantly, in most cases the terms of the Plan can only be changed going 

forward. They cannot be changed retroactively. Among other things, this means that once 

you have earned a benefit and become Vested, it cannot be reduced and the age at which 

you can start receiving it on an unreduced basis cannot be increased. 

Can the Plan be Terminated?

Yes. There are two different ways that they Plan can be terminated. One way is that the 

Board of Trustees could amend the Plan to terminate it. The other way is that all 

participating employers could decide they no longer want to participate and withdraw 

from the plan. This is called a mass withdrawal.

What Happens?

In either case, the Board of Trustees continues to operate the Plan and Employers are 

required to make contributions. The Board of Trustees continues to be responsible for 

collecting contributions, making benefit payments, investing assets, and otherwise 

operating the Plan. This responsibility continues until the Plan fulfills all of its 

obligations for future benefits usually by purchasing annuities or by making lump sum 

payments. 

THE PENSION BENEFITS GUARANTY CORPORATION

I Keep Reading About The Pension Benefits Guaranty Corporation (The PBGC), 

What Relationship Does The PBGC Have To My Plan? 

The PBGC is quasi-governmental body that insures certain pension benefits.

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0206
Are My Benefits Protected by the PBGC?

Sort of. The PBGC has gotten a lot of publicity recently because of the severely underfunded pension plan from the steel, airline, and automobile industry that have literally 

been dumped upon the PBGC and which have threatened its financial stability. 

However, the insurance coverage and protection provided by the PBGC differs based 

upon whether the plan is a single employer arrangement or a multiemployer arrangement. 

The PBGC protection program for participants of multiemployer plans is significantly 

different than what it provided for the participants of single employer plans. Generally, 

the PBGC provides much less coverage for multiemployer plans than it does for the 

participants of single employer plans. 

What is a Multiemployer Plan? 

There are a few distinguishing features of multiemployer plans. First, of all as the name 

suggests these plans are sponsored by a group employers, not one single employer, and 

their sponsorship and affiliation with the plan is the result of collective bargaining. The 

plan itself is independent of the employers and union that are involved. Instead it is run 

by a separate Board of Trustees. The Board of Trustees is composed of equal numbers 

of representatives of the union and of the participating Employers. 

How Does the PBGC’s Multiemployer Coverage Work?

Under the multiemployer plan program, the PBGC provides financial assistance through 

loans to plans that are insolvent. A multiemployer plan is considered insolvent if the plan 

is unable to pay benefits (at least equal to the PBGC’s guaranteed benefit limit) when 

due. 

The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer 

program, the PBGC guarantee equals a participant’s years of service multiplied by (1) 

100% of the first $11 of the monthly benefit accrual rate and (2) 75% of the next $33 

monthly payment per year of service. The PBGC’s maximum guarantee limit is $35.75 

per month times a participant’s years of service. For example, the maximum annual 

guarantee for a retiree with 30 years of service would be $12,870. 

The PBGC guarantee generally covers: (1) normal and early retirement benefits; (2) 

disability benefits if you become disabled before the plan becomes insolvent; and (3) 

certain benefits for your survivors. 

The PBGC guarantee generally does not cover: (1) benefits greater than the maximum 

guaranteed amount set by law; (2) benefit increases and new benefits based on plan 

provisions that have been in place for fewer than 5 years at the earlier of: (i) the date the 

plan terminates or (ii) the time the plan becomes insolvent; (3) benefits that are not vested 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0207
because you have not worked long enough; (4) benefits for which you have not met all of 

the requirements at the time the plan becomes insolvent; and (5) non-pension benefits, 

such as health insurance, life insurance, certain death benefits, vacation pay, and 

severance pay. 

For more information about the PBGC and the benefits it guarantees, ask your Plan 

Administrator or contact the PBGC’s Technical Assistance Division, 1200 K Street, 

N.W., Suite 930, Washington, D.C. 20005-4026 or call PBGC toll-free at 1-800-400-

7242. TTY/TDD users may call the federal relay service toll-free at 1-800-877-8339 and 

ask to be connected to1-800-400-7242. Additional information about the PBGC’s 

pension insurance program is available through the PBGC’s website on the Internet at 

http://www.pbgc.gov. 

COMMENCING BENEFITS

Do My Benefits Start Automatically When I Reach Normal Retirement Age, Die, or 

in Any Other Way Become Eligible For Plan Benefits?

No. You, your spouse, or other Beneficiary has to contact the Fund Office and inform 

them of your situation. You must complete an application for retirement and supply the 

necessary documents to apply for your benefits. The Fund Office will provide you, your 

spouse, or your Beneficiary with the necessary forms and information to process your 

benefits.

Can My Benefits Be Lowered, Stopped, Or In Changed In Any Way After I Start 

Receiving Payments?

Assuming that the Plan is financially able, once you start receiving benefits Federal law 

currently forbids your benefits from being reduced or stopped as long as you and your 

surviving Beneficiary are alive and otherwise meet any applicable eligibility 

requirements. Furthermore, most of the important features of Plan benefits cannot be 

changed after you have earned them even if you are not receiving payments and even if 

you have left the union and the industry. For example, the benefits earned at the highest 

level cannot be changed to something less. 

Similarly, once payments start you cannot decide to change the form of payment. For 

example, you could not change from a 50% QJ&S Annuity to life-time payments 

guaranteed for 120 months. 

Who Decides Whether I Should Receive Plan Benefits? 

The ultimate decision is the Board’s. But all they really decide is whether the terms of 

the Plan have been followed. To make this determination they rely on the advice of the 

Fund Office and paid professionals like the Plan’s attorney. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0208
DISPUTES

What Happens If I, My Spouse, Or My Beneficiary Disagrees With A Decision 

Made By The Board? 

In accordance with the requirements established under ERISA, including the provisions 

set forth in set forth in Labor Regulation Section 2560.503-1, the Plan has established 

certain claims and appeal procedure. 

The following procedures shall apply to all claims filed on or after January 1, 2002. 

1. In order to establish and maintain reasonable claims procedures, the Plan will be 

administered in accordance with the following rules:

a. The Plan will not administer the claims and appeals procedures in any 

way that unduly inhibits or hampers the initiation or processing of claims 

for benefits.

b. The Plan will not require payment of a fee or costs as a condition to

making a claim or appeal.

c. The Plan will not preclude an authorized representative of a claimant from 

acting on behalf of such claimant in pursuing a benefit claim or appeal of 

adverse benefit determination.

d. The Plan will follow administrative processes and safeguards to ensure 

and verify that benefit claim determinations are made in accordance with 

governing Plan documents and that the applicable provisions have been 

applied consistently with respect to similarly situated claimants.

e. If you or a Beneficiary contacts the Fund Office and attempts to file an 

application for benefits, the Fund Office will inform you or a Beneficiary 

of the proper procedures for filing an application for benefits. 

2. In the event a claim is initially denied, in whole or part, you, your spouse or 

Beneficiary (hereinafter the “Claimant”) will be advised of the following: 

a. the specific reason or reasons for the adverse determination; 

b. reference to specific Plan provisions on which the determination was 

based;

c. a description of any additional material or information necessary for the 

claimant to perfect the claim and an explanation of why such material or 

information is necessary; and 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0209
d. a description of the Plan's review procedures and the time limits 

applicable to such procedures, including a statement of the claimant's right 

to bring civil action under ERISA Section 502(a) following an adverse 

benefit determination after completion of the review. 

e. If the Claimant disagrees with the denial, the Claimant or their duly 

authorized representative may: 

(a) Request review by the Claims Review Board; 

(b) Review pertinent documents; and 

(c) Submit issues and comments in writing.

THE REQUEST FOR REVIEW MUST BE IN WRITING AND MADE WITHIN 

SIXTY (60) CALENDAR DAYS OF YOUR RECEIPT OF THE WRITTEN 

NOTIFICATION OF DENIAL (OR ONE HUNDRED EIGHTY (180) 

CALENDAR DAYS IN THE CASE OF A DISABILITY PENSION). 

 

3. Review of an adverse benefit determination upon appeal will take into account all 

comments, documents, records and other information submitted by the Claimant, 

regardless of whether the information was submitted or considered in the initial 

benefit determination.

You or your authorized representative will have the right to make an oral 

presentation to the Claims Review Board. 

4. The Claims Review Board will continue to review benefit determinations upon 

appeal at regularly scheduled meetings that take place at least quarterly, except if 

otherwise required by law. The Claims Review Board shall make benefits 

determinations upon appeal at the meeting that immediately follows the Plan's

receipt of a request for review, unless the request is filed within 30 days of the 

meeting. In such case, the Claims Review Board may make a benefit 

determination upon appeal at the second meeting following the Plan's receipt of 

the request for review. The Claims Review Board shall notify the Claimant of the 

benefit determination as soon as possible after the meeting, but not later than 5 

days after the benefit determination is made.

5. Notification of an adverse benefit determination upon review will contain:

a. the specific reason or reasons for the adverse determination; 

b. reference to specific Plan provisions on which the determination is based; 

c. a statement that the you are entitled to receive, upon request and free of 

charge, reasonable access to, and copies of, all documents, records and 

other information relevant to the claim for benefits; and 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0210
d. a statement of the claimant's right to bring civil action under ERISA 

Section 502(a) following an adverse benefit determination from the 

review.

6. If the Claims Review Board can not make a decision on the request for review, 

the Claims Review will give you notice that it has been unable to reach a decision 

and the Board of Trustees will consider the request for review at its next meeting. 

The Board of Trustees take into account all comments, documents, records and 

other information submitted, regardless of whether the information was submitted 

or considered in the initial benefit determination including any additional 

comments, documents, records and other information presented at the Claims 

Review Board. You or your authorized representative will have the right to make 

an oral presentation to the Board of Trustees. The Board of Trustees shall notify 

the Claimant of the benefit determination as soon as possible after the meeting, 

but not later than 5 days after the benefit determination is made. Notification of an 

adverse benefit determination upon review will contain the same information 

contained in paragraph 5, above. 

7. The period of time within which a benefit determination is required to be made 

will begin at the time the claim is filed in accordance with the reasonable 

procedures of the Plan, without regard to whether all information necessary to 

make a benefit determination accompanies the filing. If additional information is 

necessary to make a benefit determination, the period of time for making the 

benefit determination shall be tolled from the date the notification for additional 

information is requested until the Claimant responds to the request for additional 

information. If you do not receive the decision within the time set forth herein, 

the claim shall be deemed denied on review. 

The decision of the Claims Review Board, or Board of Trustees, is final and binding 

on all individuals dealing with or claiming benefits under the Plan, and if challenged in 

court, the Plan intends for the decision to be upheld, unless found by a court of 

competent jurisdiction to be arbitrary and capricious. 

You or any other Claimant must comply with these appeal procedures prior to 

instituting legal action on a claim for benefits. Any legal action must be filed within 

ninety (90) calendar days following your receipt of the Board of Trustees’ decision on 

review. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0211
TAX ISSUES

Do I Have To Pay Taxes On The Contributions That Are Made Each Year By My 

Employer? 

Before answering this question please note that this answer and the answer to the 

following question are not intended to serve as tax advice. They are only intended to give 

you a rough sense of how the tax laws work with respect to the Plan. 

The Plan is a tax qualified arrangement under the terms of the Internal Revenue Code. 

This means it qualifies for special tax treatment for you, the Plan, and for your 

Employer(s). For you, this special tax treatment means that you do not pay taxes when 

contributions are made on your behalf. However, your Employer is still entitled to an 

immediate tax deduction when he makes the contribution. For the Plan, the special tax 

treatment means that earnings on Fund assets are not subject to taxation. 

So When Do I Pay Taxes? 

First of all it might not be you. It might be your spouse or another Beneficiary who is 

receiving death benefits. The general rule is that Plan benefits are taxed when they are 

received. So, whoever is getting them should check with a tax advisor. 

CREDITORS, QDRO’S

Can Third Parties, Like Creditors, Take Over My Payments?

Not directly. The general rule is that your benefits or rights to benefits under the Plan 

may not be sold, transferred, assigned, used as collateral for a loan or pledged to another 

person. However, there is one exception to this general rule. 

If the Plan, Board of Trustees or Employer receives a Qualified Domestic Relations

Order (QDRO), the Plan may be required to pay a portion of your benefits to an 

Alternate Payee. A QDRO is a judgment that satisfies certain criteria specified in the 

Plan and under federal law and assigns to an Alternate Payee (for example, your former 

spouse) the right to receive all or a portion of your benefits. If you are subject to a QDRO 

which includes provisions related to your Plan benefits, you or the Alternate Payee 

should contact the Fund Office for more information regarding the QDRO review 

process.

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0212
RIGHTS UNDER ERISA 

As a participant in the Plan you are entitled to certain rights and protections under the 

Employee Retirement Income Security Act of 1974, as amended (“ERISA”). ERISA 

provides that all plan participants shall be entitled to:

Receive Information About Your Plan and Benefits

Examination, without charge, at the plan administrator’s office and at other specified 

locations, such as worksites and union halls, all documents governing the plan, including 

insurance contracts and collective bargaining agreements, and a copy of the latest annual 

report (Form 5500 Series) filed by the plan with the U.S. Department of Labor and 

available at the Public Disclosure Room of the Employee Benefits Security 

Administration.

Obtain, upon written request to the plan administrator, copies of documents governing the 

operation of the plan, including insurance contracts and collective bargaining agreements, 

and copies of the latest annual report (Form 5000 Series) and updated summary plan 

description. The administrator may make a reasonable charge for the copies.

Receive a summary of the plan’s annual financial report. The plan administrator is 

required by law to furnish each participant with a copy of this summary annual report. 

Obtain a statement telling you whether you have a right to receive a pension at normal 

retirement age (age 65) and if so, what your benefits would be at normal retirement age if 

you stop working under the plan now. If you do not have a right to a pension, the 

statement will tell you how many more years you have to work to get a right to a pension. 

This statement must be requested in writing and is not required to be given more than 

once every twelve (12) months. The plan must provide the statement free of charge. 

Prudent Actions by Plan Fiduciaries 

In addition to creating rights for plan participants ERISA imposes duties upon the people 

who are responsible for the operation of the employee benefit plan. The people who 

operate your plan, called “fiduciaries” of the plan, have a duty to do so prudently and in 

the interest of you and other plan participants and beneficiaries. No one, including your 

employer, your union, or any other person, may fire you or otherwise discriminate against 

you in any way to prevent you from obtaining a pension benefit or exercising your rights 

under ERISA. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0213
Enforce Your Rights 

If your claim for a pension benefit is denied or ignored, in whole or in part, you have a 

right to know why this was done, to obtain copies of documents relative to the decision 

without charge, and to appeal any denial, all within certain time schedules.

Under ERISA, there are steps you can take to enforce the above rights. For instance, if 

you request a copy of plan documents or the latest annual report from the plan and do not 

receive them within 30 days, you may file suit in a Federal court. In such a case, the 

court may require the plan administrator to provide the materials and pay you up to $110 

a day until you receive the materials, unless the materials were not sent because of 

reasons beyond the control of the administrator. If you have a claim for benefits which is 

denied or ignored, in whole or in part, you may file suit in a state or Federal court. In 

addition, if you disagree with the plan’s decision or lack thereof concerning the qualified 

status of a domestic relations order or a medical child support order, you may file suit in 

Federal court. If it should happen that plan fiduciaries misuse the plan’s money, or if you 

are discriminated against for asserting your rights, you may seek assistance from the U.S. 

Department of Labor, or you may file suit in a Federal court. The court will decide who 

should pay court costs and legal fees. If you are successful the court may order the 

person you have sued to pay these costs and fees. If you lose, the court may order you to 

pay these costs and fees, for example, if it finds your claim is frivolous. 

Assistance with Your Questions 

If you have any questions about your plan, you should contact the plan administrator. If 

you have any questions about this statement or about your rights under ERISA, or if you 

need assistance in obtaining documents from the plan administrator, you should contact 

the nearest office of the Employee Benefits Security Administration, U.S. Department of 

Labor, listed in your telephone directory or the Division of Technical Assistance and 

Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 

Constitution Avenue, N.W., Washington, D.C. 20210. You may also obtain certain 

publications about your rights and responsibilities under ERISA by calling the 

publications hotline of the Pension and Welfare Benefits Administration. 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0214
INDEX - PLAN DEFINITIONS 

The definition of the following terms can be found in this SPD on the following pages: 

Beneficiary ........................................................................................................................ 2 

Board of Trustees .............................................................................................................. 29 

Covered Service ................................................................................................................ 3 

Credited Service .................................................................................................................. 9 

Disqualifying Employment .............................................................................................. 13 

Post-Retirement Return to Work ..................................................................................... 13 

Eligibility Service ............................................................................................................. 25 

50% Contingent Pension .................................................................................................. 18 

50% Qualified Joint and Survivor Annuity ...................................................................... 16 

Normal Retirement Benefit ................................................................................................ 3 

Normal Retirement Date .................................................................................................... 3 

120 Month Certain Option ............................................................................................... 17 

Partial Pension ................................................................................................................. 28 

Plan ................................................................................................................................ 1 

Pre-Retirement Surviving Spouse Annuity ....................................................................... 21 

Qualified Domestic Relations Order (QDRO) .................................................................. 36 

Reciprocal Agreement ..................................................................................................... 27 

75% Qualified Optional Survivor Annuity ....................................................................... 17 

Vested .............................................................................................................................. 25

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0215
LOCAL 436 WELFARE AND PENSION FUNDS

BOARD OF TRUSTEES

January 14, 2014 

Union Employer

Gary M. Tiboni, Chairman

Local Union 436 

6051 Carey Drive 

Valley View, OH 44125-4259 

Brock P. Walls, Trustee

Westview Concrete Corp.

PO Box 38159 

Olmsted Falls, OH 44138 

Jack Fortesque, Trustee

Local Union 436 

6051 Carey Drive 

Valley View, OH 44125-4259 

Jeffrey E. Nock, Trustee

Terrace Construction

3965 Pearl Road 

Cleveland, OH 44109-3103 

Rosario Sara, Trustee

Local Union 436 

6051 Carey Drive 

Valley View, OH 44125-4259 

John Sarrouh, Trustee

Rockport Ready Mix 

3092 Rockefeller Avenue 

Cleveland, OH 44115 

Nicholas M. Magistrelli, Trustee

Local Union 436 

6051 Carey Drive 

Valley View, OH 44125-4259 

John Ziss Jr., Trustee

Kurtz Bros., Inc. 

6415 Granger Road

Independence, OH 44131 

Sal Alioto, Trustee

Local Union 436 

6051 Carey Drive 

Valley View, OH 44125-4259 

John G. Golish, Trustee

Local Union 436 

6051 Carey Drive 

Valley View, OH 44125 

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0216
Union Employer

Sponsor:

Employer Identification No. (EIN): 

Plan Number: 

Fiscal Year End:

The agent for service of legal process:

The address is:

Board of Trustees, Building Material 

Drivers Local 436 Pension Plan 

34-6665225 

001 

December 31

Board of Trustees, Plan Administrator 

6051 Carey Drive 

Valley View OH 44125-4259

Exhibit 7.06b 

Most recent summary plan description (SPD) and all subsequent summaries of material modification (Checklist Item #37)

IBT436-0217
Exhibit 7.06c 

Most recent determination letter issued to the Fund (Checklist Item #37)

IBT436-0218

INTERNAL REVENUE SERVICE 

P. 0. BOX 2508 

CINCINNATI, OH 45201 

Date: AUG 1 7 2015 

BOARD OF TRUSTEES BUILDING MATERIAL 

DRIVERS UNION L 436 PENSION FUND 

6051 CAREY DRIVE 

VALLEY VIEW, OH 44125 

Dear Applicant: 

DEPARTMENT OF THE TREASURY 

Employer Identification Number: 

34-6665225 

DLN: 

17007033075025 

Person to Contact: 

RUTH CHEN 

Contact Telephone Number: 

(626) 927-1423 

Plan Name: 

ID# 95048 

BUILDING MATERIAL DRIVERS UNION 

LOCAL 436 PENSION FUND 

Plan Number: 001 

Based on the information you provided, we are issuing this favorable 

determination letter for your plan listed above. However, our favorable 

determination only applies to the status of your plan under the Internal 

Revenue Code and is not a determination on the effect of other federal or local 

statutes. To use this letter as proof of the plan's status, you must keep this 

letter, the application forms, and all correspondence with us about your 

application. 

Your determination letter does not apply to any qualification changes that 

become effective, any guidance issued, or any statutes enacted after the dates 

specified in the Cumulative List of Changes in Plan Requirements (the 

Cumulative List) for the cycle you submitted your application under, unless the 

new item was identified in the Cumulative List. 

Your plan's continued qualification in its present form will depend on its 

effect in operation (Section 1.401-l(b) (3) of the Income Tax Regulations). We 

may review the status of the plan in operation periodically. 

You can find more information on favorable determination letters in Publication 

794, Favorable Determination Letter, including: 

The significance and scope of reliance on this letter 

The effect of any elective determination request in your application 

materials 

The reporting requirements for qualified plans 

Examples of the effect of a plan's operation on its qualified status. 

You can get a copy of Publication 794 by visiting our website at 

www.irs.gov/formspubs or by calling 1-800-TAX-FORM (1-800-829-3676) to request 

a copy. 

This determination letter applies to the amendments dated on 

l-27-15/1-27-10. 

We made this determination on the condition that you adopt the proposed 

Letter 5274 

REC20 

!J'{; _____ _ 
Exhibit 7.06c 

Most recent determination letter issued to the Fund (Checklist Item #37)

IBT436-0219

-2-

BOARD OF TRUSTEES BUILDING MATERIAL 

amendments you submitted in your letter dated 8-11-15, on or 

before the date the Income Tax Regulations provide under Section 410(b) of the 

Internal Revenue Code. 

You can't rely on this letter after the end of the plan's first five-year 

remedial amendment cycle that ends more than 12 months after we received the 

application. This letter expires on January 31, 2020. This letter considered 

the 2013 cumulative List of Changes in Plan Qualification Requirements. 

The information on the enclosed addendum is an integral part of this 

determination. Please be sure to read it and keep it with this letter. 

If you submitted a Form 2848, Power of Attorney and Declaration of 

Representative, or Form 8821, Tax Information Authorization, with your 

application and asked us to send your authorized representative or appointee 

copies of written communications, we will send a copy of this letter to him or 

her. 

If you have any questions, you can contact the person listed at the top of this 

letter. 

Sincerely, 

Karen D. Truss 

Director, EP Rulings & Agreements 

Addendum 

Letter 5274 
Exhibit 7.06c 

Most recent determination letter issued to the Fund (Checklist Item #37)

IBT436-0220

-3-

BOARD OF TRUSTEES BUILDING MATERIAL 

This determination letter does not apply to any portions of the document that 

incorporate the terms of an auxiliary agreement (collective bargaining, 

reciprocity, or participation agreement), unless you append to the plan 

document the exact language of the sections that you incorporated by reference. 

Letter 5274 
1 September 23, 2014

EXCAVATING AND BUILDING MATERIAL DRIVERS UNION LOCAL 436 PENSION

FUND POLICY STATEMENT ON THE ACCEPTANCE OF PROPOSED BARGAINING

AGREEMENTS FOR PLAN PARTICIPATION

Effective October 1, 2014

WHEREAS, the undersigned are the duly designated Trustees of the Board of 

Trustees (the “Trustees) of the EXCAVATING AND BUILDING MATERIALDRIVERS 

UNION LOCAL 436 PENSION FUND (hereinafter the "Fund" or “Pension Fund”) and 

are "fiduciaries" as defined in Section 3 (21) of the Employee Retirement Income 

Security Act of 1974 ("ERISA"); and

WHEREAS, the Fund is a multiemployer pension benefit plan as defined in 

Section 3(37)(A) of ERISA, 29 U.S.C. §1002(37)(A); and

WHEREAS, the amended and restated Pension Plan of the Fund has, since 

January 1, 2009, been certified by the Fund’s actuary to be in “critical status”, as 

defined by the Pension Protection Act of 2006 (“PPA”), ERISA Section 305(b)(2), 29 

U.S.C. §1085(b)(2), and on or about November 16, 2009, the Trustees adopted (and 

since amended) a Rehabilitation Plan as required by ERISA Section 305(e)(1), 29 

U.S.C. §1085(e)(1); and

WHEREAS, the Fund’s actuary has advised that the Pension Plan cannot 

reasonably be expected to emerge from “critical status” in accord with the initial and 

amended Rehabilitation Plan at the end of the stated rehabilitation period, and, thus, the 

Trustees are required to take all reasonable measures to forestall possible insolvency of 

the Pension Plan, under ERISA Section 305(e)(3), 29 U.S.C. §1085(e)(3); and

WHEREAS, the Trustees, consistent with Section 3.5 of the Pension Plan, are 

required to accept or reject proposed collective bargaining agreements negotiated by 

and between employers and Teamsters Local Union No. 436 (the “Union”) requiring 

contributions to the Fund on behalf of bargaining unit employees, as consistent with the 

terms of the amended Rehabilitation Plan, and which can reasonably be expected to 

forestall the possible insolvency of the Pension Plan;

WHEREAS, the Trustees heretofore have not adopted a formal written policy for 

the acceptance or rejection of proposed collective bargaining agreements for 

participation in the Fund, other than formulation of an ERISA-compliant Rehabilitation 

Plan; and

WHEREAS, the Trustees desire to confirm in writing those conditions under 

which the Fund will accept or reject proposed collective bargaining agreements 

negotiated by and between employers and the Union.

NOW THEREFORE, BE IT RESOLVED BY THE TRUSTEES, by written 

consent, that this Statement of Policies and Procedures is hereby adopted, as set forth 

herein.

Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38)

IBT436-0221
2 September 23, 2014

General Policy on Acceptance of Proposed Collective Bargaining Agreements

The Board of Trustees will act in accordance with the following language from Section 

3.5 of the amended and restated Pension Plan, to reject collective bargaining 

agreements that could result in adverse selection:

Effective as of January 1, 2001, the financing of benefits provided by the 

Plan is based on the continued contribution of Employers as required by 

the collective bargaining agreement with the Union. If a Union and an 

Employer should enter into a collective bargaining agreement requiring 

contributions to the Fund, and then fail to renew such agreement, or enter 

into an agreement which does not require the continuation of contributions 

to the Fund, or requires a lesser rate of contributions, the Trustees have 

the authority to take such action as is necessary with respect to all of the 

Employees of all of the Employers in that Union jurisdiction, including, but 

not limited to the following, in order to maintain the Fund on a sound 

actuarial basis:

(a) The Trustees shall have the right to terminate the Employer’s 

status as Employers.

(b) The Trustees shall have the right to adjust or cancel the past 

Service Credit of any Employees or former Employees in order 

to maintain actuarially sound relationship between the 

contributions made on account of such Employees or former 

Employees and any benefits accrued by them.

The Trustees will approve new and successor collective bargaining agreements only if 

they have been endorsed by the Fund’s actuary as being able to sustain and/or 

contribute to the solvency of the Pension Plan. Further, the Trustees will only accept 

new or successor collective bargaining agreements if they contain actuarially sound 

contractual agreements for the payment of contributions to the Fund.1 The Trustees will 

rely upon actuarial calculations to determine the benefit level(s) offered to Participants 

under each contribution level contained in a proposed collective bargaining agreement. 

Because of this, the Trustees will avoid, consistent with the Pension Plan’s terms, 

accepting any proposed collective bargaining agreements that restrict pension coverage 

 

1

 For the purpose of this Policy, the phrase “actuarially sound” shall mean as follows in 

terms of a collective bargaining agreement: a collective bargaining agreement is 

actuarially sound if the present value of expected contributions made thereunder 

exceed the present value of future benefits reasonably expected to accrue under the 

Plan. The determination regarding whether a proposed collective bargaining agreement 

is actuarially sound shall be made by the Fund’s actuary in writing using reasonable 

actuarial assumptions, and reported in writing to the Fund Trustees.

Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38)

IBT436-0222
3 September 23, 2014

to only those employees who are likely to receive a benefit and that exclude those 

employees who are less likely to receive a benefit whereby the contribution rate is 

insufficient to support the benefit level(s) promised. Further, the Trustees will not accept 

proposed collective bargaining agreements that, in practice, employ any type of 

“adverse selection”.

Bargaining parties (i.e. the Union and the Employer) may reach tentative agreements on 

collectively bargained terms and conditions of employment impacting the Employer’s 

participation in the Fund. However, all such collective bargaining agreements must be 

presented to and approved by the Fund’s Trustees in accordance with this Policy before 

the Employer’s participation (or continued participation) in the Fund is accepted.

Transition Period

The Trustees are aware that some collective bargaining agreements, as presently 

constituted, may contain terms and conditions that are not consistent with this Policy 

Statement. Upon expiration and renegotiation of such collective bargaining agreements, 

the following shall be required for the Trustees to accept such collective bargaining 

agreements for participation in the Fund:

1. If any bargaining unit employees are currently excluded from participation in the 

Pension Fund, by Agreement, under the terms of the prior collective bargaining 

agreement, such partial participation must cease and either all bargaining unit 

employees must participate in the Fund, or no bargaining unit employees may 

participate in the Fund. If continued participation of employees is included in a 

new Agreement, the employer must commence participation in the Pension Fund 

on behalf of such employees, no later than thirty (30) days after the effective date 

of such agreement; and

2. A lower contribution rate or schedule for newly hired or covered employees will 

be permissible provided that such rate or schedule is approved and authorized 

by the Trustees in the current Rehabilitation Plan and otherwise complies with 

the General Policy statement above, including the determination by the Fund’s 

actuary that such contribution rates and corresponding benefits are actuarially 

sound.

Employer Hardship Circumstances

If an otherwise non-complying contributing employer can demonstrate through the 

submission of objective evidence satisfactory to the Trustees that: (i) it cannot 

financially sustain the contribution requirements of this Policy for all or a part of any term 

of a collective bargaining agreement; (ii) it has not otherwise acted in a manner that 

undermines, either directly or indirectly, the actuarial solvency of the Plan (e.g. through 

‘double breast’ or other non-union operation(s)); and (iii) a complete or partial 

withdrawal from the Pension Fund would likely result in the employer’s withdrawal 

Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38)

IBT436-0223
4 September 23, 2014

liability being uncollectable. Notwithstanding the foregoing, the Trustees shall be 

empowered to vary the terms and conditions of this Policy for employers meeting this 

hardship exception in their sole discretion, so as to permit an employer’s continued 

participation in the Fund, provided that the employer’s contribution rates and 

corresponding benefits to the employer’s employees are actuarially sound.

Non-Compliance

If the bargaining parties are unable to negotiate terms and conditions for a proposed 

collective bargaining agreement that comply with the requirements set forth in this 

Policy Statement within one hundred eighty (180) days of the expiration of the currently 

effective bargaining agreement, the Trustees may: (i) implement the “Default Schedule” 

of the then current Rehabilitation Plan with regard to the employer and its covered 

employees; or (ii) terminate the employer’s participation in the Fund, and assess 

withdrawal liability in accord with ERISA and the Fund’s governing plan documents; or 

(iii) take any and all other reasonable measures necessary and appropriate that are 

consistent with their duties as ERISA “fiduciaries” and otherwise in accord with Federal 

Law.

Review & Modification of Policy Statement

The Trustees will annually review this Policy Statement and any modifications to the 

provisions set forth above will be forwarded to all employers and to the Union within 

sixty (60) days after adoption. Further, this Policy Statement will be interpreted and 

applied in a manner consistent with the current, and any amended, Rehabilitation Plan, 

as well as ERISA and the PPA.

[the remainder of this page has been left blank intentionally, signatures to follow]

Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38)

IBT436-0224
5 September 23, 2014

APPROVED, ADOPTED AND EFFECTIVE THIS _____ DAY OF 

_________________________ 2014, BY:

Union Trustees Employer Trustees

_____________________________ ___________________________

Gary M. Tiboni, Chairman Brock P. Walls, Trustee

_____________________________ ___________________________

Jack Fortesque, Trustee Jeffrey E. Nock, Trustee

____________________________ ___________________________

Sal Alioto, Trustee John E. Sarrouh, Trustee

____________________________ ___________________________

Nicholas Magistrelli, Trustee John Ziss, Jr., Trustee

____________________________

John G. Golish, Trustee

____________________________

Dennis Kashi, Sr., Trustee

Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38)

IBT436-0225
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – American Vault

IBT436-0226

B. Employer's liability for payments to the Welfare Fund shall not be subject 

to the arbitration or grievance procedure of this Agreement. Employer 

shall be liable for all costs incurred in collecting the payments hereunder, 

together with attorney's fees and such delinquency expenses as may be 

assessed by the Trustees of the Welfare Fund. 

5. Either the Union or the Welfare Fund shall have the right to enforce the provisions 

of this Article by suit, either at law or equity or both, and at reasonable times to inspect such of 

Employer's payrol1 records as may be necessary to determine compliance with this Article. 

6. This Article shall be binding upon the parties hereto, their successors, 

administrators, executors and assigns. In the event that Employer or any part thereof is sold, 

leased or transferred, or is taken over by assignment, receivership, or bankruptcy proceedings, the 

successors shall be bound by the terms and conditions of this Article for the life hereof. 

Employer sha11 give notice of the existence of this Article for the life hereof. Employer shall 

give notice of the existence of this Article to any purchaser, transferee, lessee, assignee, or other 

successors in interest. Such notice shall be in writing with a copy to the Trustees of the Welfare 

Fund, not later than ten (10) days prior to the effective date of the transaction. Employer agrees 

·that its failure to notify its successors and the Trustees of the Welfare Fund will operate to 

continue its obligations under this Article. 

7. Employers who have experienced one delinquency must post a performance bond 

in an amount as solely determined by the Trustees of the Welfare Fund. 

8. If comparable benefit programs are available to the Employer at lesser costs, 

Employer shall have the right to make information on those programs known to the Executive 

Board of Local Union #436, and, upon approval of the Executive Board of Local #436, to 

substitute such programs for its employees in place and instead of any further contributions to the 

Welfare Fund, provided Employer give the Welfare Fund and the Union not less than sixty (60) 

days written notice of its intentions. 

ARTICLE18 

PENSION FUND 

1. Employer understands that a Pension Fund, known as "Excavating and Building 

Material Drivers, Local Union #436 Pension Fund" ("Pension Fund"), has been established by 

reason of an agreement of trust between the Union and various Employers. The Employer 

further understands that the Fund is to be held and administered by the Board of Trustees 

consisting of an equal number of Union and Employer Trustees. The purpose of such Pension 

Fund is to provide Pension benefits for retired employees of Employer, or such other benefits as 

maybe allowed by the Employee Retirement Income Security Act of 1974 as maybe amended 

from time to time. 

18 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – American Vault

IBT436-0227

2. For each employee who receives pay for work during any calendar week, Sunday 

through Saturday, regardless of the number of hours worked, the Employer will pay into the 

Pension Fund: 

Effective 4/1/2015, The Employer shall pay into the Pension Fund$ 7.80 per hour on all 

hours worked. The Employer shall continue to divert $.51 per hour on all hours worked from 

wages. This will be the Employees contribution to the above rate. 

Any additional monies needed as deemed necessary by the Executive Board of the 

Pension Fund shall be deducted from the Employees wages. 

3. Employer will make its checks for contributions required by this Agreement 

payable to "Excavating and Building Material Drivers, Local Union 436 Pension Fund," and will 

attach a statement showing the name of each employee for whom payment has been made, the 

number of hours he worked, and the amount paid with respect to him. Such reports are to be 

made on forms provided by the Pension Fund. 

4. Either the Union or the Pension Fund shall have the right to enforce the provisions 

of this Article by suit, either at law or equity or both, and at reasonable times to inspect such of 

Employer's payroll record as may be necessary to determine compliance with this Article. 

5. The Employer shall not have any duty or responsibility either to the Union, to the 

Board of Trustees, to any employee covered by this Agreement, or to any employer to inquire 

into, or be in any way responsible for, the application, use, or disposition of any payment, or any 

action of the Board of Trustees with respect to the Pension Fund or the payments made to the 

Pension Fund. 

6. The Pension Fund shall continue to be a trusteed plan administered by joint 

trustees appointed by the Employers and the Union, and shall conform with all provisions of 

State and Federal law applicable thereto. 

7. It is understood that the Pension Fund is approved by the Internal Revenue 

Service under the applicable provisions of the Internal Revenue Code as entitling each 

participating Employer to deduct its contributions to the Pension Fund as business expenses in 

computing its tax liability and that such contributions shall not constitute a part of the regular 

wage rate under the Federal Wage and Hour Law. 

8. A Employer will make its payments on or before the 15th day of the month for the 

preceding month. If the Employer fails to make payment on or before the last day of the month 

in which payment was due for the preceding month, then the Union shall deem the delinquency 

to be a breach of this Agreement and it will enforce the Employer's contractual obligations to 

make contributions to the Pension Fund by such means as it deems necessary, including strike 

actions. If the Union does impose strike action against an Employer under this Article, it is 

expressly understood and agreed that it shall be an exception to and not violative of the no strike 

clause or without regard to the grievance and arbitration procedure of this Agreement. In the 

even the strike option is taken under this Article, Employer shall be liable for all wages lost by 

employees participating in or affected by such strike. 

19 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – American Vault

IBT436-0228

B. Employer agrees that if it becomes delinquent as described in previous section, it 

may be liable for interest and liquidated damages on such contributions as described in the 

Welfare funds Trust Agreement or Plan Document. 

9. Employer agrees that it is a party to the Agreement and Declaration of Trust 

establishing the Pension Fund, and agrees to be bound by the actions of the Board of Trustees of 

said Fund pursuant to said Agreement and Declaration of Trust. It is expressly understood that: 

A. At no time during the term of this Agreement shall the Employer's 

obligation for payment into the Fund exceed the amount set forth in 

Paragraph 2 of this Article; and 

B. Employer's liability for payments to the Pension Fund shall not be subject 

to the arbitration or grievance procedure of this Agreement. Employer 

shall be liable for all costs incurred in collecting the payments hereunder 

together with attorney fees and such delinquency expenses which may be 

assessed by the Trustees of the Pension Fund. 

10. This Article shall be binding upon the parties hereto, their successors, 

administrators, executors and assigns. In the that Employer or any part thereof is sold, leased or 

transferred, or is taken over by assignment, receivership, or bankruptcy proceedings, the 

successors shall be bound by the terms and conditions of this Article for the life hereof. 

Employer shall give notice of the existence of this Article to any purchaser, transferee, lessee, 

assignee, or other successors in interest. Such notice shall be in writing with a copy to the 

Trustees of the Pension Fund, not later than ten (10) days prior to the effective date of the 

transaction. Employer agrees that its failure to notify its successors and the Trustees of the 

Pension Fund will operate to continue its obligations under this Article. 

20 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – B&B Wrecking and Excavating

IBT436-0229

ARTICLE20 

HEALTH & WELFARE 

All employees will be covered under Employer's Health and Welfare Plan and will share 

the cost at the same level as other employees. Coverage provided by the Employer shall be as good 

or better than the coverage provided to union members in the Local 436 Health and Welfare Plan. 

All Employee contributions negotiated shall be supplied by the company and to be on file at the 

Local 436 Union Hall. 

Union members will share the cost at the same level as other employees for Dental 

Insurance. In the event the Employer needs to change providers or the level of benefits, it does 

not have to negotiate the change with the Union as long as the Union members receive the 

same level of benefits as those Union members in the Local 436 Health and Welfare Plan. 

In the event the Employer needs to change providers or the level of benefits, it does not 

have to negotiate the change with the Union as long as the Union members receive the same 

level of benefits as those Union members in the Local 436 Health and Welfare Plan. 

ARTICLE21 

PENSION FUND 

A. Employer recognizes that a Pension Fund, known as the "Excavating and 

Building Material Drivers, Local 436, Pension Fund" (Pension Fund) exists by reason of an 

Agreement between the Union and various employers and by reason of a Declaration of 

Trust establishing the Pension Fund. 

Effective May 1, 2019 contributions to the Local 436 Pension Fund will be $7.00 

on all hours worked. 

Any additional monies needed for Pension shall be deducted from employee's 

wages. 

B. Employer will make its payments monthly on or before the 15th day of the 

month for the preceding month. · 

C. Employer will make its check covering each payment payable to "Excavating 

and Building Material Drivers, Local #436, Pension Fund", and will attach a statement 

showing the name of each employee for whom payment has been made. 

D. Either the Union or the Pension Fund shall have the right to enforce the 

provisions of this Article by suit, either at law or equity or both, and at reasonable times to 

inspect such Employer's payroll records as may be necessary to determine compliance with 

this Article. Either the Union or the Fund will, upon written request, submit periodic written 

reports to the Employer as to its :financial status and ,as to any material changes in its benefit 

or funding programs. 

19 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – B&B Wrecking and Excavating

IBT436-0230

E. Employer shall not have any duty or responsibility either to the Union, to the Board 

of Trustees, to any employee covered by this Agreement, or to any employer to inquire into, 

or be in any way responsible for, the application, use, or disposition of any payment, or any 

action of the Board of Trustees with respect to the Pension Fund or the payments made to 

the Pension Fund. 

F. The Pension shall continue to be a trusteed plan administered by joint trustees 

appointed by the Employers and the Union, and shall conform with all provisions of State 

and Federal law applicable thereto. 

G. It is understood that the Pension Plan is approved by the Internal Revenue 

Service under the applicable provisions of the Internal Revenue Code as entitling each 

participating employer to deduct its contributions to the Pension Fund as business 

expenses in computing its tax liability and that such contributions shall not constitute a 

part of the regular wage rate under the Federal Wage and Hour Law. 

H. If an Employer fails to pay the contributions provided for above to the Pension 

Fund on or before the last day of the month in which payment was due for the preceding 

month, the Union shall deem the delinquency to be a violation of this Agreement and shall 

enforce the Employer's contractual obligation to make contributions to the Pension Funds 

by such means as it deems necessary, including strike action. It is specifically understood 

and agreed that if the Union does impose strike action against an Employer under this 

Article, it shall be an exception to and not violative of the restrictive provisions of Article 6 

of this Agreement. In the event strike action is taken under this Article, Employer shall be 

liable for all wages lost by employees participating in or affected by such strike. The Union 

agrees to give an Employer reasonable written notice before it imposes strike sanctions 

against it. 

I. Employer is a party to the Agreement and Declaration of Trust establishing the 

Pension Fund, and agrees to be bound by the action of the Board of Trustees of said Fund 

pursuant to said agreement and Declaration of Trust. It is expressly understood that; (1) at 

no time during the term of this Agreement shall Employer's obligations for payments into 

the Fund exceed the amounts set forth in this Article and (2) Employer's liability for 

payments to the Pension Fund shall not be subject to the arbitration and grievance 

procedure of this Agreement. Employer shall be liable for all costs incurred in collecting 

the payments hereunder, together with attorney's fees and such delinquency expenses as 

may be assessed by the Trustees of the Pension Fund. 

J. This Article shall be binding upon both parties hereto, their successors and assigns. 

In the event that Employer or any part thereof is sold, leased, or transferred or is taken over by 

assignment, receivership, or bankruptcy proceedings, the successors shall be bound by the 

terms and conditions of this Article to any purchaser, transferee, lessee, assigns, or other 

successors in interest. Such notice shall be in writing with a copy to the Trustees of the 

Pension Fund, not later than ten (10) days prior to the effective date of the transaction. 

Employer agrees that its failure to so notify the successor and the Trustees of the Pension Fund 

will operate to continue its obligations under this Agreement. 

K. The Pension Fund shall promptly submit to each contributing Employer copies of 

the monthly and quarterly reports prepared by its accountants and a copy of its annual report 

prepared by its auditors. 

20 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – B&B Wrecking and Excavating

IBT436-0231

L. The Union reserves the right to divert any part of wages as a contribution to the 

Pension Fund program. The Union shall notify the Employer in writing of its decision. 

ARTICLE22 

401{k)PLAN 

The Employer shall permit their employees to participate in the Employer's 40l(k). The 

Employer is under no obligation to provide a matching contribution, or any other contribution to 

the 40l(k) plan on behalf of the employees, as.the Employer is participating in the Local 436 

Pension Fund. 

ARTICLE23 

MANAGEMENT RIGHTS 

Unless otherwise indicated in this Agreement, the management of the business and the 

direction of the working forces, including the right to suspend or discharge employees for 

proper cause, to transfer employees, to lay off employees because of lack of work, and the 

prerogative of assigning equipment, is exclusively the Employer's right. The employee and 

Union reserve the right to grieve the Employer's decision. 

Not by way of limitation at the · following paragraph, but to only indicate the type of 

matters or rights which belong to and are inherent to the Employer, the Employer retains the right 

to: 1) hire, discharge, transfer, suspend and discipline employees for just cause; 2) determine the 

number of persons required to be employed, laid off, or discharged for just cause; 3) determine the 

qualifications of employees covered by this Agreement; 4) determine the starting and quitting time 

and the number of hours to be worked by its employees; 5) make any and all reasonable rules and 

regulations; 6) determine the work assignments of its employees; 7) determine the basis for 

selection, retention and promotion of employees to or for positions not within the bargaining unit 

established by this Agreement; 8) determine the type of equipment used and the sequence of work 

processes; 9) determine the making of technological alternatives by revising either process or 

equipment or both; 10) determine reasonable work standards and the quality and quantity of work 

to be produced; 11) select and locate buildings and other facilities; and 12) establish, expand, 

transfer and/or consolidate work processes and facilities; 13) consolidate, merge or otherwise 

transfer any or all of its facilities, property, processes or work with or to any other entity or effect 

or change in any respect the legal status, management or responsibility of such property, facilities, 

processes of work; 14) terminate or eliminate all or any part of its work or facilities. 

21 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Columbia Building Products 

IBT436-0232

ARTICLE 12 

PENSION FUND 

A. Employer understands that a pension fund, known as 

"Excavating and Building Material Drivers, Local Union 436, 

Pension Fund" has been established by reason of an agreement 

between the Union and various Employers and by reason of a 

Declaration of Trust establishing the Pension Fund. The Employer 

further understands that the Fund is to be held and administered 

by the Board of Trustees consisting of an equal number of Union I and Employer Trustees. 

B. Effective 5/1/2016 for each employee who has worked 

during any calendar week, his Employer shall contribute at the 

hourly rate of $10.05 per hour for all hours worked. 

Any additional monies needed for Pension contributions shall 

be diverted from Employees wages. 

C. Employer will make its checks covering each payment 

payable to "Excavating and Building Material Drivers, Local 436 

Pension Fund", and will attach a statement showing the name of 

each Employee for whom payment has been made, the number of hours 

he worked, and the amount paid with respect to him. 

D. Either the Union of the Pension Fund shall have the 

right to enforce the provisions of this Article by suit, either 

at law or equity or both, and at reasonable times to inspect such 

of Employer's payroll records as may be necessary to determine 

compliance with this Article. 

E. Employer shall not have any duty or responsibility 

either to the Union, to the Board of Trustees, to any Employees 

covered by this Agreement, or to any Employer to inquire into, or 

be in any way responsible for, the application, use, or 

disposition of any payment, or any action of the Board of 

Trustees with respect to the Pension Fund or the payments made to 

the Pension Fund. 

F. ~hP PPnQinn Fund shall continue to be a trusteed plan 

administered by join trustees appointed by the Employer and the 

Union, and shall conform with all the provisions of State and 

Federal law applicable thereto. 

27 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Columbia Building Products 

IBT436-0233

G. It is understood that the Pension Fund is approved by 

the Internal Revenue Service under the applicable provisions of 

the Internal Revenue Code as entitling each participating 

Employer to deduct its contributions to the Pension Fund as 

business expenses in computing its tax liability and that such 

contributions shall not constitute a part of the regular wage 

rate under the Federal Wage and Hour Law. 

H. Employer will make its payments monthly on or before 

the 15th day of the month for the preceding month. If an 

Employer fails to make payment on or before the last day of the 

month in which payment was due for the preceding month, then the 

Union shall deem the delinquency to be a breach of this Agreement 

and it will enforce the Employer's contractual obligation to make 

contributions to the Pension Fund by such means as it deems 

necessary, including strike actions. If the Union does impose 

strike action against an Employer under this Article, it is 

expressly understood and agreed that it shall be an exception to 

and not a violation of the no strike clause of without regard to 

the grievance and arbitration procedure of this Agreement. In 

the event the strike option is taken under this Article, Employer 

shall be liable for all wages lost by employees participating in 

or affected by such strike. 

I. Employer agrees that it is a party to the Agreement and 

Declaration of Trust establishing the Pension Fund, and agrees to 

be bound by the actions of the Board of Trustees of said Fund 

pursuant to said Agreement and Declaration of Trust. 

J. At no time during the term of this Agreement shall the 

Employers obligations for payment into the Fund exceed the amount 

under Article 11, Section A and B. 

K. Employer's liability for payments to the Pension Fund 

shall not be subject to the arbitration or grievance procedure of 

this Agreement. Employer shall be liable for all costs incurred 

in collecting the payments hereunder together with attorney's 

fees and such delinquency expenses which may be assessed by the 

Trustees of the Pension Fund. 

L. This Article shall be binding upon the parties hereto, 

their successors, administrators, executors and assigns. In the 

event that Employer or part thereof is sold, leased, or 

transferred, or is taken over by assignment, receivership, or 

bankruptcy proceedings, the successors shall be bound by the 

terms and conditions of this Article for the life hereof. 

Employer shall give notice of the existence of this Article to 

any purchaser, transferee, lessee, assignee or other successors 

28 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Columbia Building Products 

IBT436-0234

in interest. Such notice shall be in writing with a copy to the 

Trustees of the Pension Fund, not later than ten (10) days prior 

to the effective date of the transaction. Employer agrees that 

its failure to notify its successors and the Trustees of the 

Pension Fund will continue its obligations under this Article. 

M. Employers who have experienced one delinquency must 

post a performance bond in an amount as solely determined by the 

Trustees of the Pension Fund. 

ARTICLE 13 

MISCELLANEOUS 

A. There shall be placed in each yard or garage a time 

clock for the registering of the time of each employee. The 

employee shall punch his own time card. The union requests that 

these time cards shall be kept on file for a period of one (1) 

year. 

B. The Employer agrees that in case a maintenance employee 

is required to furnish tools it will negotiate a reasonable tool 

allowance for such employee with the Union. 

C. The Employer agrees that washing and bathroom 

facilities are subjects for negotiation between the Employer and 

the Union. 

D. The Employer will provide necessary safety equipment 

(such as hard hats, gloves, goggles, masks) once to employees who 

require such equipment, but the Employer will replace any such 

item of equipment if damaged only if the damaged equipment is 

turned in by the employee. 

ARTICLE 14 

CHECK OFF OF DUES, DRIVE AND SUPPLEMENTAL DUES 

A. The Employer shall deduct from the wages payable to any 

employee, and pay to the Union, the amount of monies which that 

employee has authorized the Employer to deduct by a written 

assignment and authorization in the form attachen as EY..hibit A to 

this Agreement, including, but limited to initiation fees, reinitiation fees or reinstatement fees, membership dues, 

supplemental dues including delinquent dues, service fees, 

29 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Decker Steel and Supply

IBT436-0235

ARTICLE 15 

PENSION FUND 

1. Employer understands that a pension fund, known as "Excavating and Building 

Material Drivers, Local #436, Pension Fund" has been established by reason of agreement 

between the Union and various Employers and by reason of a declaration of trust establishing the 

Pension Fund. The Employer further understands that the Fund is to be held and administered by 

the Board of Trustees consisting of an equal number of Union and Employer trustees. 

2. Effective May 1, 2019 for the life of this Agreement the employer will pay into 

the fund $8.25 per hour on all hours worked for any new employee who has credited service in 

the Local 436 Pension Fund. The $8.25 per hour contribution rate includes a wage diversion of 

$.46 (forty-six cents) per hour which shall also be effective for the life ofthis agreement. 

(a) Employees hired on or after May 1, 2016 who do not have credited service 

with the Local 436 Pension Fund will enter the Fund's $318.00 benefit plan with a contribution 

rate of $3 .56 per hour on all hours worked for the life of this agreement. 

Any additional contributions need for Pension shall be deducted from wages. 

(b) For New Hires hired after 05/1/2016, no contributions will be made to the 

Pension Fund for the first thirty-one (31) calendar days of employment. After the first thirty-one 

(31) days of employment, the new hire shall receive contributions to the Pension Plan at the rate 

described in Paragraph 2 of this article, and shall be subject to any wage diversion generally 

applicable to all other employees. 

3. Employer will make its checks covering each .payment payable to "Excavating 

and Building Material Drivers, Local 436, Pension Fund", and will attach a statement showing 

the name of each employee for whom payment has been made, the number of hours worked, and 

the amount paid with respect to him. 

4. Either the Union or the Pension Fund shall have the right to enforce the provisions 

of this Article by suit, either at law or equity or both, and at reasonable times to inspect such of 

Employer's payroll records as may be necessary to determine compliance with this Article. 

5. Employer shall not have any duty or responsibility either to the Union, to the 

Board of Trustees, to any employee covered by this Agreement, or to any employer to inquire 

into, or be in any way responsible for, the application, use, or disposition of any payment, or any 

action of the Board of Trustees with respect to the Pension Fund or the payments made to the 

Pension Fund. 

6. The Pension Fund shall continue to be a trusteed plan administered by joint 

trustees appointed by the Employers and the Union, and shall conform with all provisions of 

State and Federal law applicable thereto. 

15 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Decker Steel and Supply

IBT436-0236

7. It is understood that the Pension Fund is approved by the Internal Revenue 

Service under the applicable provisions of the Internal Revenue Code as entitling each 

participating Employer to deduct its contributions to the Pension Fund as business expenses in 

computing its tax liability and that such contributions shall not constitute a part of the regular 

rate under the Federal Wage and Hour Law. 

8. Employer will make its payments on or before the 15th day of the month for the 

preceding month. If an Employer fails to make payment on or before the last day of the month in 

which payment was· due for the preceding month, then the Union shall deem the delinquency to 

be a breach of this Agreement and will enforce the Employer's contractual obligations to make 

contributions to the Pension Fund by such means as it deems necessary, including strike actions. 

If the Union does impose strike action against an Employer under this Article, it is expressly 

understood and agreed that it shall be an exception to and not violative of the no strike clause or 

without regard to the grievance and arbitration procedure of this contract. In the event the strike 

option is taken under this Article, Employer shall be liable for all wages lost by employees 

participating in or affected by such strike. 

9. Employer agrees that it is a party to the Agreement and declaration of trust 

establishing the Pension Fund, and agrees to be bound by the actions of the Board of Trustees of 

said Fund pursuant to said Agreement and Declaration of Trust. It is expressly understood that: 

(a) At no time during the term of this Agreement shall the Employers 

obligation for payment into the Fund exceed the amount set forth in paragraph 2 of this 

Article; and 

(b) Employer's liability for payments to the Pension Fund shall not be subject 

to the arbitration or grievance procedure of this Agreement. Employer shall be liable for 

all costs incurred in collecting the payments hereunder together with attorneys fees and 

such delinquency expenses which may be assessed by the Trustees of the Pension Fund. 

10. This Article shall be binding upon the parties hereto, their successors, 

administrators, executors and assigns. In the event-that Employer or any part thereof is sold, 

leased, or transferred, or is taken over by assignment, receivership or bankruptcy proceedings, 

the successors shall be bound by the terms and conditions of this Article for the life hereof. 

Employer shall give notice of the existence of this Article to any purchaser, transferee, leasee, 

assignee, or other successors in interest. Such notice shall be in writing with a copy to the 

Trustees of the Pension Fund, not later than ten (10) days prior to the effective date of the 

transaction. Employer agrees that its to notify its successors and the Trustees of the Pension Fund 

will operate to continue its obligations under this Article. 

11. Employer who has experienced one delinquency must post a performance, bond 

in an amount as solely determined by the Trustees of the Pension Fund. 

16 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Holcim US

IBT436-0237

ARTICLE XV. PENSION FUND 

A. 1. The Company recognizes that a Pension Fund known as the "Excavating and Building 

Material Drivers, Local No. 436 Pension Fund" exists by reason of an Agreement between 

the Union and various employers and by reason of a Declaration of Trust establishing the 

Pension Fund. 

2. For each employee who has one (1) or more years of seniority according to Article II of 

this agreement and who receives pay for work or for vacation during any calendar week, 

(Monday through Sunday), regardless of the number of hours worked, the Company will 

contribute to the Pension Fund the amounts shown below: 

Date Company Contribution 

2/1/2019 $6.35 per hour 

No pension payments shall be made to the fund on behalf of those employees who are 

temporary or part time. 

4. The Company contributions accumulated on a monthly basis will be forwarded on or 

before the fifteenth (15th) day of the month for the preceding month. 

The Company will make its checks covering Company's contribution payable to 

"Excavating and Building Material Drivers, Local 436 Pension Fund" and will attach a 

statement showing the name of each employee for which payment has been made. 

B. Notwithstanding anything herein contained, it is agreed that in the event any company is 

delinquent at the end of a monthly period in the payment of its contribution to the Pension Fund, in 

accordance with the rules and regulations of the Trustees of such Fund and after the proper official 

of the Local Union shall have given seventy-two (72) hours' notice to the Company of such 

delinquency in the Pension Fund payments, the Union shall have the right to take such legal action 

as it deems necessary until such delinquent payments are made and costs are compensated 

resulting from employer payments of benefits incurred for nonpayment of benefits. Action for 

delinquent contributions may be instituted by either the Local Union or the Trustees. It is further 

agreed that in the event such action is taken, the Employer shall be responsible for all losses 

resulting therefrom. Companies who are delinquent must also pay all attorneys' fees and cost of 

collections. 

C. It is understood that the Pension Plan is approved by the Internal Revenue Service under the 

applicable provisions of the Internal Revenue Code as entitling each participating company to 

deduct its contributions to the Pension Fund as business expenses in computing its income tax 

liability and that such contributions shall not constitute a part of the regular wage rate under the 

Federal Wage and Hour Laws. 

14 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Holcim US

IBT436-0238

D. The Union, in its sole discretion and authority, may divert from wages any amount above and 

beyond those set forth above as an additional contribution to the Welfare Fund. The Union, in its 

. sole discretion and authority, may also redirect the payment of contributions from one Fund to 

another so long as the total contributions paid by the Employer do not exceed the above 

contribution rates. 

ARTICLE XVI. STRIKES AND VIOLATIONS 

Adequate procedure having been provided for the equitable settlement of any grievance arising 

under this Agreement, the parties hereto agree that there shall be no suspension of work through 

strikes, slowdowns, lockouts, or otherwise during the life of this Agreement. 

ARTICLE XVII. DURATION AND RENEW AL 

A. This Agreement shall become effective February 1, 2019 and shall remain in full force and effect 

until January 31, 2024 and thereafter shall continue in full force and effect for successive periods 

of one (1) year unless notice of intention to terminate, amend, change or modify is given as 

hereinafter provided. 

B. This Agreement shall be binding upon the Company and its successors and assignees; provided 

that if the Company shall merge with another building materials company in the jurisdiction area 

of Local 436, the seniority of the respective employees shall be carried on a consolidated roster but 

shall be based upon their service with their respective employers. 

C. Ninety (90) days prior to February 1, 2024, or any succeeding February 1, the Company or the 

Union may give the other party written notice of intention to terminate, amend, change or modify 

the provisions of this Agreement. The Company shall not be required, except as agreed herein in 

the matter of wages, pension, and health and welfare contributions only, prior to February 1, 

2024, to negotiate with the Union concerning the termination, amendment, change or modification 

of this Agreement. 

15 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Kelley Steel Scrap Haulers

IBT436-0239

F. Such payments shall be made not later than the 15th day of each month for the 

preceding month's payroll and such payments when made, shall be accompanied by a copy of 

Employer's applicable payroll. Payroll records of the Employer shall be made available for 

inspection by the Fund or the Union at all reasonable times. 

G. Payments to the Welfare Fund shall be paid monthly on or before the 15th day of 

the following month. If the Employer fails to make the payments within 30 days thereafter, and 

the Union deems it a breach of this Agreement then it will be mandatory to strike the Employer. 

Employees of struck Employers shall be paid for lost wages. 

1. Employers who have experienced one (1) delinquency must post a bond. 

H. Above provisions of Health and Welfare Fund shall not be subject to grievance 

and arbitration procedures under this Agreement. 

ARTICLES 

PENSION FUND 

A. The Employer agrees that a Pension Fund is established, known as "Excavating 

and Building Material Drivers Local Union No. 436 Pension Fund," and hereby agrees to the 

terms of such Trust Pursuant to which the Fund is administered. Said Fund is administered by a 

Board of Trustees which consists ofan equal number of representatives selected by the Employer 

and the Union. 

B. Effective March 1, 2014, the Employer shall pay into the Pension Fund $ 9.15 

per hour for all hours worked. 

Effective March 1, 2015, the Employer shall pay into the Pension Fund $ 10.05 

per hour for all hours worked. 

Any additional monies needed shall be deducted from employees wages. 

C. Payments to the Pension Fund shall be paid monthly on or before the 15th day of 

the following month. If the Employer fails to make payments within 30 days thereafter, the 

Union deems it a breach of this Agreement and it will be mandatory to strike the Employer. 

Employees of struck Employers shall be paid for lost wages. 

D. Employers who have experienced one (1) delinquency must post a performance 

bond. 

E. Such payments shall be made no later than the 15th day of each month for the 

preceding month's payroll and such payments, when made, shall be accompanied by a copy of 

Employer's applicable payroll. Payroll records of the Employer shall be made available for 

inspection by the Fund or the Union at all reasonable times. 

8 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Mid America Trucking

IBT436-0240

or the preceding month's payroll and such payments when made, shall be accompanied 

by a copy of Employer's applicable payroll. Payroll records of the Employer shall be made 

available for inspection by the Fund or the Union at all reasonable times. 

E. Payments to the Welfare Fund shall be paid monthly on or before the 15th 

day of the following month. If the Employer fails to make the payments within 30 days 

thereafter, and the Union deems it a breach of this Agreement, then it will be mandatory to 

strike the Employer. Employees of struck Employers shall be paid for lost wages. 

1. Employers who have experienced one (1) delinquency must post a 

bond. 

F. Above provisions of Health and Welfare Fund shall not be subject to 

Grievance and Arbitration procedures under this Agreement. 

G. The parties acknowledge that the Employer has adopted the Master 

Cafeteria Plan effective January 1, 2008 which allows Employees to "opt-out" of the Health 

and Welfare plan and said adoption agreement remains in effect and is incorporated 

herein by this reference. 

A. 1. 

ARTICLE 23 

PENSION FUND 

Employer recognizes that a pension fund, known as the "Excavating, 

Building Material and Construction Drivers Union Local 436 Pension Fund" 

("Pension Fund"), exists by reason of an Agreement between the Union and 

various employers and by reason of a Declaration of Trust establishing the 

Pension Fund. Employer further recognizes that the Pension Fund is held 

and administered by a Board of Tr.ustees consisting of an equal number of 

Union and Employer Trustees, and is used to provide retirement income for 

employees of the Employer and other employers and such other benefits as 

may be agreed upon by the Board of Trustees of the Pension Fund and as 

allowed by the Employee Retirement Income Security Act, as amended. 

Employer agrees that it is a party to the Agreement and Declaration of Trust 

establishing the Pension Fund and agrees to be bound by the actions of the 

Board of Trustees of said Fund taken pursuant to said Agreement and 

Declaration of Trust to effectuate the purposes of the Pension Fund. 

2. It is expressly understood that at no time during the term of this Agreement 

shall the Employer's obligation for contributions on behalf of its employees 

into the Fund exceed the amounts set forth in this Agreement. 

3. Any dispute regarding the Employer's or the Pension Fund's obligations 

pursuant to his article shall not be subject to the arbitration and grievance 

procedure of this Agreement. 

16 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Mid America Trucking

IBT436-0241

B. 

C. 

4. The Employer shall not have any duty or responsibility to the Union, the 

Board of Trustees of the Pension Fund, any employee covered by this 

Agreement, or any other contributing employer to inquire into, or be in any 

way responsible for: the application, use, or disposition of any payment 

made by the Pension Fund; any action of the Board of Trustees of Pension 

Fund; or the payments made by the Pension Fund. 

5. The Pension Fund Plan is a qualified plan as that term is defined and used 

by the Internal Revenue Code and other federal laws. The Trustees will 

continue to maintain the Plan as a qualified plan under the Internal Revenue 

Code. 

1. Employer agrees to pay to the Pension fund the following contribution 

amounts for each hour worked for each employee during the calendar week 

Sunday through Saturday: for contract year starting May 1, 2015. 

OPTION C PLAN 

Mid America Trucking Company Employees 

OPTION C PLAN 

Year Amount 

05/01/2018 $8.05 

05/01/2019 $8.05 

05/01/2020 $8.05 

2. Pension contributions for new Employees who have received credited 

service from the Pension Fund prior to being employed by the Employer will 

begin when the Employee begins his employment with Employer. 

3. No payment will be made on behalf of any Employee who has been given a 

withdrawal card by the Union. 

4. The Union, in its sole discretion and authority, may divert from Employees' 

wages any amount above and beyond those set forth above as an 

additional contribution to the Pension Fund if needed. The Union, in its sole 

discretion and authority, may also redirect the payment of contributions from 

one Fund to another so long as the total contributions paid by the Employer 

do not exceed the above contribution rates. 

1. Employer will make its payments to the Pension Fund monthly on or before 

the 15th day of the month for work performed during the preceding month 

17 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Mid America Trucking

IBT436-0242

and will make its checks covering each payment payable to the "Local 

Union 436 Pension Fund." Employer will submit a remittance report as 

provided or allowed by the Pension Fund with its payment showing the 

name of each employee for whom payment has been made and the hours 

and/or weeks worked during the month reported, as appropriate, and other 

information necessary to the proper crediting of such contributions. 

2. Contributions not paid by the last day of the month in which the 

contributions are due shall be deemed delinquent and subject to collection 

by all means necessary, including strike action by the Union. It is 

specifically understood and agreed that if the Union does impose strike 

action against an Employer under this Article, it shall be an exception to and 

not violative of the restrictions of any other provision of this Agreement. In 

the event strike action is taken, Employer shall be liable for all wages lost by 

employees participating in or affected by such strike. The Union agrees that 

it will give an Employer reasonable written notice before it imposes strike 

sanctions against it. 

3. If the Employer becomes delinquent more than twice in any twelve month 

period, the Employer shall be required to post a bond to assure its future 

contributions to the Pension Fund in an amount and form prescribed by the 

Pension Fund. Such bond shall remain in place for the duration of this 

Agreement and any renewal until the Employer's obligation to make 

contributions to the Pension Fund has ceased or until the Employer makes 

twelve consecutive timely contributions, whichever is sooner. Timely 

contributions are those received by the 15th day of the month for work 

performed during the preceding month. 

4. The Pension Fund shall have the right to inspect at reasonable times such 

of Employer's payroll records as may be necessary to determine 

compliance with this Article. 

5. Either the Union or the Pension Fund shall have the right to enforce the 

provisions of this Article by suit, either at law or equity or both. Employer 

shall be liable for all costs incurred in collecting delinquent contributions 

hereunder, including attorney fees and litigation expenses where 

appropriate. Delinquent contributions are subject to the imposition of 

interest and penalty as allowed by the Pension Fund's Trust Agreement. 

D. Either the Union or the Fund will submit periodic written reports to the Employer on 

its financial status, and as to any material changes in its benefit program or regulations as required 

by ERISA or as requested by the Employer. 

E. This Article shall be binding upon the parties hereto, their successors, 

administrators, executors and assigns. In the event that Employer or part hereof is sold, leased, or 

transferred, or is taken over by assignment, receivership, or bankruptcy proceedings, the 

successors shall be bound by the terms and conditions of this Article for the life hereof. Employer 

shall give notice to the existence of this Article to any purchaser, transferee, lessee, assignee, or 

other successors in interest. Such notice shall be in writing with a copy to notify its successor and 

the Trustees of the Pension Fund will operate to continue its obligations under this Article. 

18 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Mid America Trucking

IBT436-0243

F. Employees may contribute to the 401(k) on a pre-tax basis but there will be no 

Employer matching contribution. 

ARTICLE 24 

EXPIRATION AND RENEWAL 

A. This Agreement shall become effective as of May 1, 2018 and shall remain in full 

force and effect until midnight April 30, 2021, and shall be automatically renewed from year to 

year thereafter, unless sixty (60) days prior to April 30, 2021, or the anniversary of any 

subsequent April 30th, either party shall give to the other written notice of its desire to terminate 

this Agreement, in which event this Agreement shall terminate at midnight on June 30th in the 

contract year in which such notice is given. Upon execution of this Agreement, all pending 

unfair labor practice charges, litigation and/or other disputes between the parties shall be 

withdrawn and dismissed with prejudice. 

B. In the event of an inadvertent failure by either party to give the notice set forth in 

Section A of this Article, such party may give such notice at any time prior to the termination or 

automatic renewal date of this Agreement. If a notice is given in accordance with the provisions 

of this Section, the expiration date of this Agreement shall be the sixty-first (61st) day following 

such notice. 

19 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Plumbing Wholesalers Association of Cleveland

IBT436-0244

B. Employees may opt-out ofthemedical and prescription drug coverage by completing the 

appropriate form supplied byemployerandsubmittingittotheemployerduringth~open 

enrollment period. Once an election to opt-out is made, the employee may not obtain 

coverage until next e 1 igible to do so under the terms of the employers medical and 

prescription drug plan. Employees who elect to opt out of such coverage will receive an 

additional monthly payment in the amount equal to 20% of the employers fully insured 

rates of the coverage which the employee would have been eligible to receive atthetime 

the employee opted out. In the event the employee loses other coverage, the employee 

would become eligible for coverage during the open enrollment and their coverage 

would start on January 1, or if they currently have other coverage, upon the loss of that 

coverage, the employee must apply for the plan within 31 days of the loss of the other 

coverage. 

ARTICLE30 

PENSION FUND 

1. Employer recognizes that a Pension Fund, known as the "Excavating and Building 

Material Drivers, Local 436, Pension Fund" (Pension Fund) exists by reason of an 

Agreement between the Union and various employers and byreason ofaDeclaration of 

Trust establishing the Pension Fund. 

A. Contributions. Duringtheterm of this Agreement, the Employer shall pay, for 

each employee who receives pay for work during any calendar week, 

Mondaythrough Sunday, the followingcontributions: 

Effective July 1, 2014 through June 30, 2015 - $8.33 per hour for all hours worked. 

Effective July I, 2015 through June 30, 2016 - $9.15 per hour for all hours worked. 

Effective July 1, 2016 through June 30, 2017- $9.15 per hour for all hours worked. 

Effective July I, 2017 through June 30, 2018 - $9.15 per hour for all hours worked. 

Effective July 1,2018 throughJune30, 2019 - $9 .15 per hour for all hours worked. 

Effective July 1, 2019 through June 30, 2024 - $9 .15 per hour for all hours worked. 

24 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Plumbing Wholesalers Association of Cleveland

IBT436-0245

Any employee hired as of 7 /1 /14 will be covered by the Local 436 Pension Plan section 

known as "$1002.00 Pension Plan". 

Effective July 1, 2014 through June 30, 2015 - $5 .10 per hour for all hours worked. 

Effective July 1, 2015 through June 30, 2016 - $ 5 .60 per hour for all hours worked. 

Effective July 1, 2016 through June 30, 2017- $5 .60 per hour for all hours worked. 

Effective July 1, 2017 through June 30, 2018- $5.60 per hour for all hours worked. 

Effective July 1, 2018 through June 30, 2019- $5 .60 per hour for all hours worked. 

Effective July 1 ,2019 through June 30, 2024 - $5.60 per hour for all hours worked. 

If the Board ofTrustees of the Pension Fund decide that additional monies are needed, orif any 

law orregulationrequires additional paymentto thePensionFund, over and above the Employer 

contribution rates set forth in this Agreement, such additional monies or payment shall be 

diverted from the Employee's wages, unless otherwise prohibited bylaw. 

B. Employer will make its payments monthly on or before the 15th day of the month for the 

preceding month. 

C. Employerwillmakeits checks covering each paymentpayableto "Excavating and 

Building Material Drivers, Local 43 6, Pension Fund", and will attach a statement 

showing the name of each employee for whom payment has been made. 

D. Either the Union or the Pension Fund shall have the right to enforce the provisions of 

this Article by suit, either at law or equity or both, and at reasonable times to inspect 

such Employer's payroll records as may be necessary to determine compliance with this 

Article. Either the Union or the Fund will submit periodic written reports to the 

Employer as to its financial status and as to any material changes in its benefit or funding 

programs. 

E. Employer shall not have any duty or responsibility either to the Union, to the Board of 

Trustees, to any employee covered by this Agreement, or to any employer to inquire 

into, or be in any way responsible for, the application, use, or disposition of any 

payment, or any action of the Board ofTrustees with respect to the Pension Fund or the 

payments made to the Pension Fund. 

F. The Pension Fund shall continue to be a trusteed plan administered by joint trustees 

appointed by the Employers and the Union, and shall conform with all provisions of 

State and Federal law applicable thereto. 

25 
Exhibit 7.07 

Excerpts from Collective Bargaining Agreements (Checklist Item #38) – Plumbing Wholesalers Association of Cleveland

IBT436-0246

G. It is understood that the Pension Plan is approved bythelntemal Revenue Service under 

the applicable provisions of the Internal Revenue Code as entitling each participating 

employer to deduct its contributions to the Pension Fund as business expenses in 

computing its tax liability and that such contributions shall not constitute a part of the 

regular wage rate under the Federal Wage and Hour Law. 

H. If an Employer fails to pay the contributions provided for in paragraph B, above, 

to the Pension Fund on or before the last day of the month in which payment was due for the 

preceding month, the Union shall deem the delinquency to be a violation of this Agreement and 

shall enforce the Employer's contractual obligation to make contributions to the Pension Funds 

by such means as it deems necessary; provided however, that the Pension Fund shall provide 

thirty (30) days written notice to the Employer prior to suspension of benefits of member 

employees or beneficiaries; and provided further, the Union shall provide fifteen (15) days prior 

written notice of its intent to strike. Such strike action against an Employer under this Article shall 

be an exception to and not violative of the restrictive provisions of Article 4 of this Agreement. 

In the event strike action is taken under this Article, the Employer shall not be liable for wages 

lost by employees participating on or affected by such strike. 

I. Employer is a party to the Agreement and Declaration of Trust establishing the 

Pension Fund, and agrees to be bound by the actions of the Board of Trustees of said Fund 

pursuant to said agreement and Declaration of Trust. It is expressly understood that: ( 1) at no 

, . time during the term of this Agreement shall Employer's obligations for payments into the Fund 

exceed the amounts set forth in paragraph B of this Article; and (2) Employer's liability for 

payments to the Pension Fund shall not be subject to the arbitration and grievance procedure of 

this Agreement. Employer shall be liable for all costs incurred in collecting. the payments 

hereunder, together with attorneys' fees and such delinquency expense as may be assessed by the 

Trustees of the Pension Fund. 

J. This article shall be binding upon the parties hereto, their successors, administrators, 

executors and assigns. In the Event that Employer or any part thereof is sold, leased or 

transferred or is taken over by assignment, receivership, or bankruptcy proceedings, the 

successors shall be bound by the terms and conditions of this Article for the life hereof. 

Employer shall give notice of the existence of this Article to any purchaser, transferee, lessee, 

assigns, or other successors in interest. Such notice shall be in writing with a copy, to the 

Trustees of the Pension Fund, not later than ten (10) days prior to the effective date of the 

transaction. Employer agrees that its failure to so notify its successor and the Trustees of the 

Pension Fund will operate to continue its obligations under this Agreement. 

K. The Pension Fund shall promptly submit to each contributing employer copies of 

the monthly quarterly reports prepared by its accountants and a copy of its annual audited reports 

prepared by its auditors. 

26