APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(b) Such benefit shall commence after approval of an applica-
tion by the Board, effective on the first day of the month following the
Participant's death.

(c) The death benefit will terminate on the first day of the
month in which the Eligible Spouse dies.

(3) Participant Who Became Disabled After Having Earned Five
Years of Future Service Credits

(a) If a Participant, who becomes a Disabled Participant, hav-
ing earned five (5) years of Future Service Credits, dies, his/her Eligible
Spouse will receive a death benefit in the form of a monthly pension. The
rate per month shall be one-half of that which the Disabled Participant was
receiving at the time of his/her death.

(b) Such benefit will commence after approval of an applica-
tion by the Board, effective on the first day of the month following such
Participant's death.

(c) The death benefit will terminate on the first day of the
month in which the Eligible Spouse dies, unless the Eligible Spouse is
survived by an eligible minor child of the Participant.

(4) Minor Child's Benefit

(a) If a Participant on whose life a death benefit is payable un-
der this Section 4.01(D)(i) is not survived by an Eligible Spouse, but has
surviving minor children, or (ii) is survived by an Eligible Spouse and mi-
nor children, but the Eligible Spouse dies while children of the deceased
Participant are minors, then a death benefit in the form of a monthly pen-
sion shall be paid to the minor children. Payment shall be in accordance to
the following rules:

(i) The benefit payable shall be divided equally among
all minor children. As each child reaches his/her majority or if any
child dies, the benefit that had been paid to that child shall be di-
vided equally among the remaining minor children.

(ii) All benefit payments shall end when the last surviv-
ing child reaches his/her majority.

(iii) | The amount of the children's monthly benefit shall
be the amount paid to the Eligible Spouse or the amount that would
have been payable to an Eligible Spouse had there been one.

20 CM94:00114


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

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

14 CM94:00108


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(C) Duration of the Husband-Wife Pension, Husband-Wife 75% Pension,
Husband-Wife 100% Pension - The Husband-Wife Pension shall commence after ap-
proval of the application, but effective the first day of the month following the later of re-
tirement or the completion of the age and service requirements, Sections 4.01(A) or (B).
The final payment shall be made on the first day of the month in which the survivor of
the Participant or his/her Eligible Spouse dies.

(D) Duration of the Employee-Only Pension - The Employee-Only Pension
shall commence after approval of the application, but effective the first day of the month
following the later of retirement or completion of the age and service requirements, Sec-
tions 4.01(A) or (B). The final pension payment shall be made on the first day of the
month in which the Participant dies.

(E) Duration of the Five-Year-Guarantee Pension - The Five-Year-Guarantee
Pension shall commence after approval of the application, but effective the first day of
the month following the later of retirement or completion of the age and service require-
ments, Sections 4.01(A) or (B). The final pension payment shall be on the first day of the
month in which the Participant dies or the sixtieth month of pension, whichever is later,
or if a commuted sum is payable to a Beneficiary, payment of such commuted sum shall
be the final payment.

(F) Duration of the Ten-Year-Guarantee Pension - The Ten-Year-Guarantee
Pension shall commence after approval of the application, but effective the first day of
the month following the later of retirement or completion of the age and service require-
ments, Sections 4.01(A) or (B). The final pension payment shall be on the first day of the
month in which the Participant dies or the one hundred twentieth month of pension,
whichever is later, or if a commuted sum is payable to a Beneficiary, payment of such
commuted sum shall be the final payment.

(G) _ Early Retirement Pension - The Forms, Amounts, Options and Duration of
the Early Retirement Pension shall be as set forth in Section 4.02 and 4.03, with the fol-
lowing modifications:

Q) The Participant's Employee-Only Pension shall be reduced by
1/200" for each full month which his/her early retirement date precedes his/her
Normal Retirement Date. The other forms of pension shall be actuarial reductions
of the amount thus calculated.

(2) The Early Retirement Pension shall commence on the later of re-
tirement, completion of age and service requirements, Section 4.01(B), or approv-
al of the Participant's application.

(3) The election or revocation of election or re-election of an optional

form of Early Retirement Pension may be made during the election period preced-
ing the commencement of an Early Retirement Pension.

24

CM94:00118


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

CM94:00099


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(iv) A child eligible to receive a benefit under this Sec-
tion shall be a minor (less than 18 years of age) natural or adopted
child of the deceased Participant who has been recognized as a de-
pendent for benefit purposes by the Social Security Administra-
tion.

(E) Cash-out of Vested Accrued Benefit. If the Actuarial Equivalent value of
the Participant's Vested Accrued Benefit does not exceed the applicable limit under Code
Section 411(a)(11)(A), currently $5,000, then distribution may only be made as a lump-
sum payment. In determining the amount of a lump-sum payment payable under this
paragraph, Actuarial Equivalent value shall mean a benefit, in the case of a lump-sum
benefit payable prior to a Participant's Normal Retirement Date, of equivalent value to
the Vested Accrued Benefit which would otherwise have been provided commencing at
the Participant's Normal Retirement Date.

Effective March 28,2005, the Plan may make an immediate lump-sum distribution
of the Actuarial Equivalent of the vested Accrued Benefit of a retired Participant in lieu
of all benefits in the event:

() the retired Participant's Annuity Starting Date occurs on or after
the later of age 62 or his Normal Retirement Date and the present value of his
Vested Accrued Benefit determined as of his Annuity Starting Date is not in ex-
cess of the applicable limit under Code Section 411(a)(11)(A), currently $5,000,
or

(2) the retired Participant's Annuity Starting Date occurs prior to the
later of age 62 or his Normal Retirement Date and the present value of his Vested
Accrued Benefit is not in excess of $1,000 at the time of distribution.

The Plan may make an immediate distribution of such benefit to a retired Partici-
pant without such Participant's consent.

Effective March 28,2005, in the event the Actuarial Equivalent of the Vested Ac-
crued Benefit of a retired Participant exceeds $1,000 but does not exceed the applicable
limit under Code Section 411(a)(11)(A), currently $5,000, at the time of distribution, the
retired Participant may elect a lump-sum payment. Spousal consent to the Participant's
election of the lump sum is not required.

Lump-sum distributions may be made only on account of termination of participa-
tion in the Plan. No distributions may be made under this section after the Annuity Start-
ing Date, except in the case of a Participant who has attained age 70-1/2 and has com-
menced receiving his Vested Accrued Benefit in the form of a monthly annuity while still
in Covered Employment. Such Participant may elect at retirement to receive immediate
payment of the Actuarial Equivalent of his Vested Accrued Benefit, determined at the
time of retirement, in a lump-sum distribution as described in this Section.

21 CM94:00115


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

and a copy of the Plan provisions; (3) a statement that Department of La-
bor regulations concerning suspension may be found at Title 29 Code of
Federal Regulations Section 2530.203-3; (4) a description of the Plan's
claim review procedure; (5) an explanation of how to apply for resumption
of benefits and a copy of the required form for benefit resumption; and (6)
the amount of benefits previously paid that the Plan intends to recoup, and
the manner in which recoupment will take place.

(3) Each Pensioner who resumes Industry Employment shall notify the
Plan within 15 days after resuming employment.

(4) The Plan may require information concerning employment from
any Pensioner. The Plan may at any time, and as frequently as may be reasonable,
require any Pensioner to (i) provide it with information sufficient to establish that
any employment does not constitute Industry Employment or (ii) to certify to the
Plan that the Pensioner is unemployed.

(5) Whenever the Plan becomes aware that a Pensioner has begun In-
dustry Employment and has failed to comply with the Plan's notice and reporting
requirements concerning re-employment, the Plan shall assume that the Pensioner
was engaged in such employment for the same employer in work at that construc-
tion site for so long before the work in question as that same employer performed
that work at that construction site. Whenever such presumptions are applied by
the Plan, the Plan shall give notice to the Pensioner as required by Federal regula-
tion. Any Pensioner who wishes to challenge the application of these presump-
tions as applied to him/her may present contrary evidence to the Contract Admin-
istrator and shall have a right to appeal the Contract Administrator's determination
in accordance with the Plan's claim denial procedures.

(B) Reinstatement of Benefits After Ceasing Non-Casual Industry Employ-
ment: Plan's Recoupment Rights

() If a Pensioner's benefits have been suspended under this Section,
they shall not be reinstated until the Pensioner notifies the Plan that his/her ineli-
gibility has ceased by making a written, application for resumption of his/her ben-
efits on the form and in the manner prescribed by the Plan. Payment of benefits
shall be resumed at the rate earlier in effect and no later than the first day of the
third calendar month after he/she has notified the Plan as required above that
his/her ineligibility has ceased.

(2) If the Plan has no claim for recoupment of benefits against a Pen-
sioner who has applied for resumption of benefits, then the full amount of benefits
due since he/she stopped his/her disqualifying work shall be paid in the initial
payment.

27 M94:00121


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

Participant, the remainder of said one hundred twenty (120) payments will be paid to
his/her Beneficiary or, with the consent of the Board, may be commuted and paid to
his/her Beneficiary in a lump sum.

4.03 Optional Forms of Benefits and Duration of Benefits.
(A) — Normal Retirement Pension

qd) The normal retirement benefit for an unmarried Participant, other-
wise qualified, shall be the Employee-Only Pension, Section 4.02(A).

(2) The normal retirement benefit for a married Participant, otherwise
qualified, who does not make a qualified election of a different form, shall be the
Fifty (50%) Percent Husband-Wife Pension, Section 4.02(B).

(B) — Optional Retirement Pensions

(1) The optional retirement pensions for an unmarried Participant shall
be the Five or Ten- Year-Guarantee Pension, Section 4.02(D) and (E).

(2) The optional retirement pensions for a married Participant shall be
the Employee-Only Pension (Section 4.02(A)); the Husband-Wife 75% Pension
(Section 4.02(C)); the Husband-Wife 100% Pension (Section 4.02(D)); or the
Five- or Ten-Year Guarantee Pension, Section 4.02(E) or (F).

(3) A Participant may during the election period make a qualified elec-
tion in writing on a form approved by the Board to receive his/her monthly pen-
sion in an optional form of pension in lieu of the monthly pension benefit de-
scribed as his/her normal retirement pension. Such election may be revoked in
writing during the election period and another qualified election may be made.

(4) The Contract Administrator shall inform Participants in writing no
less than thirty days and no more than one hundred eighty (180) days prior to the
commencement of the pension, (i) the terms of the normal retirement pension, (ii)
the terms of all optional forms of pension, (iii) the Participant's right to waive the
normal form of pension, (iv) the rights of the Participant's Eligible spouse, (v) the
right to revoke previously made waivers and (vi) the relative values of the various
forms of benefits under this Plan.

(5) In addition, each optional form of benefit provided under this Plan
must be made available to all Participants on a nondiscriminatory basis (i.e., they
must not discriminate in favor of the Highly Compensated group). This is the
case regardless of whether a particular form of benefit is the actuarial equivalent
of any other optional form of benefit under this Plan.

23 CM94:00117


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

Notwithstanding the foregoing, the failure of a Participant and Eligible Spouse to
consent to a distribution while a benefit is immediately distributable, within the meaning
of Section 4.06 of the Plan, shall be deemed to be an election to defer commencement of
payment of any benefit sufficient to satisfy this Section.

(B) Early Retirement Pension

(1) Any Active or Vested Participant may retire early on a reduced
pension provided he/she has:

(a) Attained his/her 55" birthday; and.

(b) Completed fifteen (15) or more years of Credited Service;
and

(c) Made written application for early pension on the form and
in the manner prescribed by the Board.

(2) Ifa Participant leaves Covered Employment before satisfying the
age requirement but having satisfied the service requirement, the Participant will
be entitled to apply for an early retirement pension at any time after he/she attains
the required age.

(C) _ Disability Pension

(1) Any Disabled Participant may retire on a disability pension pro-
vided:

(a) He/she has become Permanently Disabled as the result of
sickness or accident or mental illness which prevents him/her from carry-
ing out the duties of his/her regular work while an Active Participant or in
his/her Extension Period. Such disability may be required to be certified
by a physician appointed by the Board; and

(b) His/her disability has continued for six months; and

(c) He/she has completed five (5) or more years of Future Ser-
vice Credit and such years of Credited Service shall not have been can-
celled in accordance with Section 2.03(F); and

(d) He/she has made written application for disability pension
on the form and in the manner prescribed by the Board while an Active
Participant or in his/her Extension Period.

(e) The Board may require the Disability Pensioner, until
he/she attains the age required for Normal Retirement Date Pension, to

18 CM94:00112


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

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

The “earliest retirement age” is the earliest date on which, under the Plan, the Par-

ticipant could elect to receive retirement benefits. The earliest time at which payments
may begin under a Qualified Pre-retirement Survivor Annuity is not later than the month

10 CM94:00104


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

nor the Participant’s Eligible Spouse shall be required to the extent that a distribution is
required to satisfy Code Sections 401(a)(9) or 415.

Present value shall be determined in accordance with Section 1.02 of the Plan.

An accrued benefit is immediately distributable if any part of the accrued benefit
could be distributed to the Participant (or surviving Eligible Spouse) before the Partici-
pant attains (or would have attained if not deceased) the later of Normal Retirement Age
or age 62.

(B) For purposes of determining the applicability of the foregoing consent re-
quirements to distributions made before the first day of the first Plan Year beginning after
December 31, 1988, the Participant’s Vested accrued benefit shall not include amounts
attributable to accumulated deductible Employee contributions within the meaning of
Code Section 72(0)(5)(B).

4.07 Timing and Modes of Distribution.
(A) — General Rules.

(1) Precedence and Effective Date. Subject to Section 4.08, Qualified
Joint and Survivor Annuity requirements, the requirements of this Section shall ap-
ply to any distribution of a Participant’s interest and will take precedence over any
inconsistent provisions of this Plan. Unless otherwise specified, the provisions of
this Section apply to calendar years beginning after December 31, 2002.

(2) Requirements of Treasury Regulations Incorporated. All distribu-
tions required under this Section shall be determined and made in accordance with
Code Section 401(a)(9), including the incidental death benefit requirement in Sec-
tion 401(a)(9)(G), and the Treasury Regulations thereunder.

(3) Limits on Distribution Periods. As of the first distribution calendar
year, distributions to a Participant, if not made in a single sum, may only be made
over one of the following periods:

(a) the life of the Participant,

(b) the joint lives of the Participant and a designated Benefi-
ciary,

(c) a period certain not extending beyond the life expectancy
of the Participant, or

(d) a period certain not extending beyond the joint life and last
survivor expectancy of the Participant and a designated Beneficiary.

30

CM94:00124


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

(C) In lieu of determining which Employees are Highly Compensated Employees in
accordance with the provisions of (B) above, the Trustees can elect, for any Plan Years begin-

ning before January 1, 1997, to use the simplified "snapshot" method under IRS Revenue Proce-
dure 95-34.

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

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

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

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

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

1.18 “Hour of Covered Employment” means:

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

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

7 M94:00101


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

(1) was a 5-percent owner;

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

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

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

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

6 CM94:00100


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

undergo physical examinations by a physician chosen by it in order to de-
termine the continuance of disability, but no more frequently than once
each year.

(f) The Fund shall treat a Participant who becomes Permanent-
ly Disabled while performing qualified military service as if the Partici-
pant resumed employment with an Employer in accordance with the Par-
ticipant’s reemployment rights under Chapter 43 of Title 38 of the United
States Code on the day preceding the date he or she became Permanently
Disabled.

(D) Death Benefits
qd) Participant Who Has Not Reached Normal Retirement Age

(a) If a Participant, having five (5) years of Future Credited
Service or five (5) years of Vested Credits, who has not made a qualified
election of pension other than a Husband-Wife Pension, dies prior to
reaching Early Retirement Age, his/her Eligible Spouse will receive a
death benefit in a form of a delayed monthly pension. The monthly pen-
sion benefit to the Participant’s Eligible Spouse will begin when the Par-
ticipant would have reached age 55 and 15 years of Credited Service. The
rate per month for each year of service shall be fifty (50%) percent of the
amount such Participant would have received had he/she retired on his/her
5s” birthday and elected a Husband-Wife 50% Pension, with an Early Re-
tirement reduction.

(b) Such benefit shall commence after approval of an applica-
tion by the Board, effective on the first day of the month following the
Participant’s 55" birthday.

(c) The death benefit will terminate on the first day of the
month in which the Eligible Spouse dies.

(2) Participant Who Has Reached Normal Retirement Age

(a) When a Participant who has reached Normal Retirement
Age dies prior to the commencement of a pension without having made a
qualified election of a form of pension different from a Husband-Wife
Pension, his/her Eligible Spouse will receive a death benefit. It will be in
the form of a monthly pension and will be payable for the rest of her life.
The rate of the pension will be fifty (50%) percent of the amount the Par-
ticipant would have received had he/she retired on the day prior to his/her
death on a Husband-Wife Pension.

CM94:00113


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

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

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

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

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

9 CM94:00103


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(H) Late Retirement Pension — Subject to the provisions of Section 4.07, an
Employee need not retire upon his/her Normal Retirement Date and may continue in em-
ployment. Upon eventual. retirement, he/she will receive credit for service rendered after
his/her Normal Retirement Date.

(1) Disability Pension The Disability Pension shall be in the form and
amount of an Employee Only Pension, Section 4.02(A)--however, for purposes of deter-
mining the amount of a Participant’s Disability Pension, the Fund shall treat a Participant
who became Permanently Disabled while performing qualified military service as if the
Participant resumed employment with an Employer in accordance with the Participant’s
reemployment rights under Chapter 43 of the United States Code on the day preceding
the date he or she became Permanently Disabled:

(1) Without reduction because such retirement preceded the Normal
Retirement Date, but if the Participant is married, his/her Eligible Spouse or mi-
nor children may receive a death benefit as provided in Section 4.01(D)(3) and
(4). This form of Pension shall commence on the first day of the month following
the later of:

(a) The date occurring six months after the inception of disa-
bility; and

(b) Receipt of the application by the Board.

(2) The final pension payment shall be made on the first day of the
month in which:

(a) The end of permanent disability occurs; or
(b) The Disabled Participant dies (however, his/her Eligible
Spouse or minor children may be eligible for a death benefit under Section

7); or

(c) The Disabled Participant refuses to undergo a required
physical examination by a physician selected by the Board.

(d) Upon the attainment of Normal Retirement Age.

(3) In the event Disability Pension payments cease because of the end
of permanent disability or the refusal to undergo a required physical examination,
the Participant may either:

(a) Return to Covered Employment in which case the Credited

Service which he/she accumulated prior to the commencement of the Dis-
ability Pension shall be reinstated; or

25

CM94:00119


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

WITNESSETH:

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

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

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

SECTION 1: DEFINITIONS

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

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

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

CM94:00095


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

SECTION 2: PARTICIPATION

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

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

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

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

() His/her death; or

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

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

CM94:00106


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

1.31 “Special Service” means

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

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

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

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

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

1.34 “Vested Accrued Benefit” means the Accrued Benefit of each Participant to
which each Participant has earned a nonforfeitable right to all of part of the Benefit as deter-
mined by Section 1.32.

nN M94:00105


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

CM94:00102


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

4.02 Amount of Benefit Payments. The amount of each pension is determined by such
scale of benefits as the Association and the Union, upon recommendation of the Board, shall de-
termine from time to time, on the basis of actuarial calculations, which can be supported by the
rate of contributions being received. Until subsequently changed pursuant to provisions of the
Plan, benefit amounts shall be as follows:

(A) | Employee-Only Pension - A monthly pension benefit for the life of the
Participant at the rate per month for each year of Credited Service as is set forth in Ap-
pendix B of the Plan.

(B) | Husband-Wife Pension - The Actuarial Equivalence of the Employee-
Only Pension, for the life of the Participant and upon his/her death fifty (50%) percent of
the monthly pension benefit payable to his/her Eligible Spouse and thereafter until the
death of the Eligible Spouse, provided that the Eligible Spouse married to the Participant
at the time of his/her death must also have been married to the Participant at the time
his/her pension commenced. If the spouse should die before the Participant, upon notice
of that fact to the Board, the amount of the previous actuarial reduction shall be restored.

(C) | Husband-Wife 75% Pension - The Actuarial Equivalence of the Employ-
ee-Only Pension, for the life of the Participant and upon his/her death seventy-five (75%)
percent of the monthly pension benefit payable to his/her Eligible Spouse and thereafter
until the death of the Eligible Spouse, provided that the Eligible Spouse married to the
Participant at the time of his/her death must also have been married to the Participant at
the time his/her pension commenced. If the spouse should die before the Participant, up-
on notice of that fact to the Board, the amount of the previous actuarial reduction shall be
restored.

(D)  Husband-Wife 100% Pension - The Actuarial Equivalence of the Employ-
ee-Only Pension, for the life of the Participant and upon his/her death one hundred
(100%) percent of the monthly pension benefit payable to his/her Eligible Spouse and
thereafter until the death of the Eligible Spouse, provided that the Eligible Spouse mar-
ried to the Participant at the time of his/her death must also have been married to the Par-
ticipant at the time his/her pension commenced. If the spouse should die before the Par-
ticipant, upon notice of that fact to the Board, the amount of the previous actuarial reduc-
tion shall be restored.

(E) Five-Year Guarantee Pension - The Actuarial Equivalence of the Employ-
ee-Only Pension, payable for the life of the Participant, and in the event of the Partici-
pant's death before sixty (60) monthly payments have been made to the Participant, the
remainder of said sixty (60) payments will be paid to his/her Beneficiary or, with the con-
sent of the Board, may be commuted and paid to his/her Beneficiary in a lump sum.

(F) | Ten-Year Guarantee Pension - The Actuarial Equivalence of the Employ-

ee-Only Pension, payable for the life of the Participant, and in the event of the Partici-
pant's death before one hundred twenty (120) monthly payments have been made to the

22 CM94:00116


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(3) If the Plan has a claim for recoupment of benefits against a Pen-
sioner who has applied for resumption of benefits, the Contract Administrator
shall withhold the amount owed to the Plan, but no more than three months of
benefits, before reinstating benefits. If the Plan's claim for recoupment is in ex-
cess of three months of benefits, the remaining amount shall be recouped by with-
holding up to 25 percent of the Pensioner's monthly benefit until the full amount
has been recouped.

(C)  Pensioner's Right to Determination of Whether Employment Will Be
Deemed Industry Employment

A Pensioner may request a determination from the Plan as to whether spe-
cific contemplated employment will be deemed Industry Employment. Such a re-
quest initially shall be made to the Contract Administrator, and the determination
shall be rendered within thirty (30) days of receipt of the request. A Pensioner
dissatisfied by the Contract Administrator's determination shall have a right to ap-

peal that determination in accordance with the claim appeal procedures of the
Plan.

(D) Amount of Pension Benefit Upon Reinstatement After Suspension

(1) _ A reinstated pension shall not be subject to any increase or de-
crease caused by a change in contribution rates negotiated by collective bargain-
ing, unless such increase or decrease is specifically provided for in this Plan by
means of an amendment hereto. A Pensioner, whose annuity starting date oc-
curred either before or after his/her Normal Retirement Date, receiving a benefit
other than a Disability Pension who resumes Covered Employment shall receive
an increase in his/her benefit by virtue of any Credited Service earned subsequent
to such return. In that event, upon his/her subsequent re-retirement, he/she shall
receive pension benefits on the original Credited Service at the rate in effect at the
time his/her pension first commenced, and pension benefits on the subsequent
Credited Service at the rate in effect when the Credited Service was earned, and
the Pensioner’s original annuity starting date shall apply to the additional ac-
counts. If any additional Credited Service is earned, the payment for the addi-
tional Credited Service must commence no later than beginning with the first
month in the calendar year immediately following the calendar year after the Pen-
sioner ceases Covered Employment.

(E) Automatic Suspension of Benefits of Participant Who Continues Work-
ings After Normal Retirement Date

ql) A Participant who reaches Normal Retirement Age but who has
failed to apply for retirement benefits shall be presumed to have continued Indus-
try Employment. His/her benefits shall be suspended until application for benefits
is made and approved.

28 CM94:00122


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

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

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

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

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

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

CM94:00098


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

(4) The date the Plan is terminated.

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

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

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

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

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

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

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

15 CM94:00109


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

in part at the rate in effect at the time his/her pension becomes effective for all
Credited Service earned subsequent to his/her return to Covered Employment.

(7) Greater Benefits. The Vested rights at any time after the last day of
the Plan Year that commenced in 1975, of an Active Participant, who was cov-
ered by this Plan on that day, shall be the greater of:

(a) His/her Vested rights as determined by the Plan subsequent
to the first day of the Plan Year that commenced in 1976; or

(b)  His/her Vested rights as determined under the vesting pro-
visions of this Plan, if any, as they existed on the last day of the Plan Year
that commenced in 1975.

2.04 Former Participant and Termination of Participation. A Participant shall termi-
nate his/her participation in the Plan when all benefits payable on his/her behalf under the Plan
have been paid or forfeited, at which time he/she shall become a Former Participant. A Former
Participant shall have no rights to a benefit under the Plan and may reenter the Plan only as an
Active Participant pursuant to Section 2.01.

SECTION 3: CONTRIBUTIONS

3.01. Employer Contributions. Each Employer shall make contributions to the Fund
monthly, in the amount set forth in the Collective Bargaining Agreement or Participation
Agreement applicable to that Employer.

3.02 Participant Contributions. No Participant shall be required to make any contri-
butions to the Fund. No Participant shall be permitted to make any contributions to the Fund.
SECTION 4: BENEFITS AND DISTRIBUTIONS
4.01 Types of Benefits.
(A) Normal Retirement Date Pension

ql) Any Active or Vested Participant may retire on optional or normal
pension provided he/she has:

(a) Attained Normal Retirement Age; and

(b) Made written application for a normal retirement pension
on the form and in the manner prescribed by the Board.

7 M94:00111


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

CM94:00097


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(b) Enter the status of a Vested Participant or a Pensioner, if
qualified, or of a Divesting Participant.

4.04 Commencement of Benefits. Unless the Participant elects otherwise, distribu-
tion of benefits will begin no later than the 60th day after the close of the Plan Year in which:

(A) _ The Participant attains age 65 (or Normal Retirement Age, if earlier);

(B) occurs the 10th anniversary of the year in which the Participant com-
menced participation in the Plan; or

(C) _ the Participant terminates service with the Employer.

Notwithstanding any provision in the Plan to the contrary, any Benefits to which a Partic-
ipant is entitled shall commence no later than the Participant’s Required Beginning Date. The
failure of a Participant and Eligible Spouse to consent to a distribution while a benefit is immedi-
ately distributable, shall be deemed to be an election to defer commencement of payment of any
benefit sufficient to satisfy this section. An Accrued Benefit is immediately distributable if any
part of the Accrued Benefit could be distributed to the Participant (or surviving Eligible Spouse)
before the Participant attains (or would have attained if not deceased) the later of Normal Re-
tirement Age or age 62.

4.05 Suspension and Resumption of Benefits

(A) Suspension of Benefits on Resumption of Non-Casual Industry Employ-
ment

(1) _ If any Pensioner (other than a Disability Pensioner) resumes Indus-
try Employment (except as Casual Employment), his/her benefit for any month in
which he/she works 40 or more hours shall be suspended.

(2) A Pensioner whose benefits are to be suspended under this Section
shall be given notice as follows:

(a) Notice shall be given during the first calendar month in
which benefits are being withheld.

(b) Notice shall be given in writing by personal delivery or by
First Class Mail addressed to the Pensioner's last known address.

(c) The notice shall contain the following or shall refer the
Pensioner to the relevant pages of the Plan's Summary Plan Description
where such information can be found: (1) a description of the specific rea-
son or reasons why benefit payments are being suspended; (2) a general
description of the Plan provisions relating to the suspension of payments

26 CM94:00120


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

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

CM94:00096


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

(2) A Participant whose benefits are suspended under (e)(1) shall be
given or sent (by First Class Mail) a notice each year containing the following: (i)
a statement that his/her benefits have been suspended and the specific reason for
suspension, and (ii) a general description of the Plan provisions relating to the
suspension of payments and a copy of the Plan provisions.

(F) Amount of Reinstated Pension Benefit of Participant Who Has Previously
Drawn Disability Pension

A Pensioner receiving a Disability Pension who resumes Covered Employment
shall, upon subsequent re-retirement or recurrence of disability, apply to the Board for re-
sumption of his/her pension on the form and in the manner prescribed by the Board.
His/her resumed pension shall be at his/her pension rate in effect immediately prior to the
resumption of Covered Employment for all Credited Service earned up to that time, and
at the rate in effect at the time of his/her re-retirement for all Credited Service earned
subsequent to his/her resumption of Covered Employment.

4.06 Restrictions on Immediate Distributions.

(A) _ If there are remaining payments to be made with respect to a particular
distribution option that previously commenced, and the accrued benefit is immediately
distributable, the Participant and the Participant’s Eligible Spouse (or, where either the
Participant or Eligible Spouse has died, the survivor) must consent to any distribution of
such accrued benefit. The consent of the Participant and the Participant’s Eligible Spouse
shall be obtained in writing within the 180-day period ending on the annuity starting date.
The annuity starting date is the first day of the first period for which an amount is paid as
an annuity or any other form. The Contract Administrator shall notify the Participant and
the Participant’s Eligible Spouse of the right to defer any distribution until the Partici-
pant’s accrued benefit is no longer immediately distributable. Such notification shall in-
clude a general description of the material features and an explanation of the relative val-
ues of the optional forms of benefit available under the Plan in a manner that would satis-
fy the notice requirements of Code Section 417(a)(3), and shall be provided no less than
30 days and no more than 180 days prior to the annuity starting date. However, distribu-
tion may commence less than 30 days after the notice described in the preceding sentence
is given, provided the distribution is one to which Code Sections 401(a)(11) and 417 do
not apply, the Contract Administrator clearly informs the Participant that the Participant
has a right to a period of at least 30 days after receiving the notice to consider the deci-
sion of whether or not to elect a distribution (and, if applicable, a particular distribution
option), and the Participant, after receiving the notice, affirmatively elects a distribution.

Notwithstanding the foregoing, only the Participant need consent to the com-

mencement of a distribution in the form of a Qualified Joint and Survivor Annuity while
the accrued benefit is immediately distributable. Neither the consent of the Participant

29 CM94:00123


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

qd) His/her death; or,

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

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

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

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

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

13 CM94:00107


APPLICATION FOR APPROVAL OF BENEFIT SUSPENSION FOR
PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND
EIN/ PN: 23-6445411 / 001

Exhibit 7.06a
Plan Document with Plan Amendments (Checklist Item #37)

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

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

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

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

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

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

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

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

(6) Return to Covered Employment. Should a Vested Former Partici-

pant subsequently return to Covered Employment prior to becoming a Pensioner,
his/her pension will be paid in part at the rate set forth in paragraph (1) above, and

16

CM94:00110