SUMMARY PLAN DESCRIPTION

OF THE

PLASTERERS AND CEMENT MASONS 

LOCAL NO. 94 PENSION FUND

Plasterers and Cement Masons Local No. 94 Pension Fund

PATH ADMINISTRATORS

4785 Linglestown Road, Suite 200

Post Office Box 6480

Harrisburg, Pennsylvania 17112-0480

Phone: (717) 671-8551

Toll Free: (800) 636-7632

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00679
i

TABLE OF CONTENTS

PART A: IMPORTANT FUND FACTS........................................................................A-1

Q&A 1: HOW DOES THE FUND WORK?...........................................................A-1

Q&A 2: WHAT IS THE MEANING OF “EFFECTIVE DATE” IN THIS 

SUMMARY PLAN DESCRIPTION?.............................................................A-1

Q&A 3: WHAT ARE SOME OF THE HIGHLIGHTS OF THE FUND? .................A-1

PART B: WHAT IS THE MEANING OF CERTAIN IMPORTANT FUND TERMS?.....B-1

PART C: HOW DOES THE FUND COUNT THE TIME YOU WORK?....................... C-1

Q&A 1: WHO IS COVERED BY THE FUND? .................................................... C-1

Q&A 2: HOW DO YOU EARN BENEFIT CREDITS UNDER THE FUND? ........ C-1

Q&A 3: WHAT HAPPENS IF YOU LEAVE COVERED EMPLOYMENT ON 

ACCOUNT OF BEING CALLED TO ACTIVE MILITARY DUTY? ............... C-2

Q&A 4: WHAT HAPPENS IF YOU WORK UNDER A COLLECTIVE 

BARGAINING AGREEMENT WHERE YOUR EMPLOYER 

CONTRIBUTED TO ANOTHER PENSION FUND?.................................... C-2

Q&A 5: WHEN WILL YOU HAVE A VESTED RIGHT TO YOUR PENSION?.... C-3

Q&A 6: IS IT POSSIBLE TO LOSE CREDITS WHICH YOU HAVE 

EARNED UNDER THE FUND? .................................................................. C-3

PART D: WHEN ARE YOU ELIGIBLE TO RECEIVE A BENEFIT FROM THE 

FUND? ............................................................................................................. D-1

Q&A 1: WHAT TYPES OF BENEFITS ARE PAID BY THE FUND?................... D-1

Q&A 2: WHAT IS THE MEANING OF “RETIREMENT”? ................................... D-1

Q&A 3: WHEN MAY YOU RETIRE ON A NORMAL RETIREMENT AGE 

PENSION?.................................................................................................. D-1

Q&A 4: ARE YOU REQUIRED TO RETIRE ON YOUR NORMAL 

RETIREMENT DATE? ................................................................................ D-1

Q&A 5: MAY YOU RETIRE EARLY? ................................................................. D-2

Q&A 6: WILL YOUR PENSION BE REDUCED IF YOU RETIRE EARLY?........ D-2

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

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Q&A 7: WHEN MAY YOU RECEIVE DISABILITY BENEFITS?......................... D-2

Q&A 8: ARE DISABILITY BENEFITS PROVIDED AFTER YOU ARE NO 

LONGER AN ACTIVE PARTICIPANT? ...................................................... D-2

Q&A 9: HOW CAN YOU LOSE ELIGIBILITY FOR A DISABILITY 

BENEFIT?................................................................................................... D-2

Q&A 10: HOW LONG WILL THE DISABILITY BENEFIT BE PAID? .................. D-3

Q&A 11: WHAT DEATH BENEFITS ARE PAYABLE?........................................ D-3

Q&A 12: WILL ANY BENEFITS BE PAID TO YOUR BENEFICIARY, 

SPOUSE OR CHILDREN IF YOU DIE WHILE RECEIVING A 

DISABILITY PENSION?.............................................................................. D-4

PART E: HOW MUCH WILL YOUR PENSION BE?...................................................E-1

PART F: HOW WILL YOUR PENSION BENEFITS BE PAID?...................................F-1

Q&A 1: IF YOU ARE MARRIED, WHAT IS THE STANDARD FORM FOR 

EARLY AND NORMAL RETIREMENT AGE PENSIONS? ..........................F-1

Q&A 2: IF YOU ARE MARRIED, WHAT ARE THE OPTIONAL FORMS 

FOR EARLY AND NORMAL RETIREMENT AGE PENSIONS?..................F-2

Q&A 3: IF YOU ARE SINGLE, WHAT IS THE STANDARD FORM FOR 

EARLY AND NORMAL RETIREMENT AGE PENSIONS? ..........................F-3

Q&A 4: IF YOU ARE SINGLE, WHAT ARE THE OPTIONAL FORMS FOR 

EARLY AND NORMAL RETIREMENT AGE PENSIONS? ..........................F-3

Q&A 5: HOW AND WHY SHOULD YOU DESIGNATE A BENEFICIARY?.........F-4

PART G: WHAT HAPPENS IF YOU CONTINUE TO WORK AFTER NORMAL 

RETIREMENT AGE OR RETURN TO WORK AFTER RETIRING?................. G-1

Q&A 1: WHAT HAPPENS IF YOU CONTINUE TO WORK AFTER 

NORMAL RETIREMENT AGE?.................................................................. G-1

Q&A 2: WHAT HAPPENS IF YOU RETURN TO INDUSTRY 

EMPLOYMENT BEFORE AGE 701⁄2?......................................................... G-1

Q&A 3: WHAT DO YOU DO IF YOU RETURN TO INDUSTRY

EMPLOYMENT?......................................................................................... G-1

Q&A 4: HOW DOES THE FUND RECOVER OVERPAYMENTS OF 

BENEFITS MADE TO YOU WHILE YOU WORK IN INDUSTRY 

EMPLOYMENT?......................................................................................... G-2

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

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 Exhibit 5e

 Summary Plan Description

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Q&A 5: WHAT HAPPENS IF YOU RETURN TO INDUSTRY 

EMPLOYMENT AFTER AGE 701⁄2?............................................................ G-3

Q&A 6: IF YOU RETURN TO INDUSTRY EMPLOYMENT AFTER 

RETIREMENT, DO YOU EARN ADDITIONAL CREDITED FUTURE 

SERVICE? .................................................................................................. G-3

PART H: TAXATION OF BENEFITS ......................................................................... H-1

Q&A 1: ARE BENEFIT PAYMENTS SUBJECT TO WITHHOLDING AND 

INCOME TAX?............................................................................................ H-1

PART I: PROCEDURE FOR OBTAINING BENEFITS ...............................................I-1

Q&A 1: HOW DO YOU APPLY FOR BENEFITS? ...............................................I-1

Q&A 2: HOW WILL YOUR APPLICATION FOR BENEFITS BE 

PROCESSED?..............................................................................................I-3

Q&A 3: WHEN WILL BENEFIT PAYMENTS BEGIN?..........................................I-3

Q&A 4: WHAT HAPPENS IF YOU ARE OVERPAID MONTHLY PENSION 

BENEFITS?...................................................................................................I-3

PART J: WHAT ARE YOUR APPEAL RIGHTS? ....................................................... J-1

Q&A 1: WHAT IF YOUR BENEFITS ARE DENIED? .......................................... J-1

Q&A 2: WHAT IS THE CLAIMS REVIEW PROCEDURE? ................................. J-2

Q&A 3: WHAT ARE YOUR RIGHTS ON APPEAL TO THE BOARD OF 

TRUSTEES?................................................................................................ J-4

Q&A 4: WHAT ARE THE CONSEQUENCES OF YOUR FAILURE TO FILE 

AN APPEAL? ............................................................................................... J-5

Q&A 5: CAN THERE BE EXTENSIONS OF TIME?............................................ J-5

PART K: QUALIFIED DOMESTIC RELATIONS ORDER PROCEDURES.................K-1

Q&A 1: WHAT INFORMATION MUST A DOMESTIC RELATIONS ORDER 

CONTAIN TO QUALIFY AS A QUALIFIED DOMESTIC RELATIONS 

ORDER? ......................................................................................................K-1

Q&A 2: ARE THERE OTHER REQUIREMENTS THAT A DOMESTIC 

RELATIONS ORDER MUST MEET TO BE A QUALIFIED DOMESTIC 

RELATIONS ORDER?.................................................................................K-2

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

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Q&A 3: WHAT WILL THE FUND DO UPON RECEIPT OF A DOMESTIC 

RELATIONS ORDER?.................................................................................K-2

Q&A 4: IN DECIDING HOW TO DIVIDE A PARTICIPANT’S PENSION 

BENEFITS, WHY IS UNDERSTANDING THE TYPE OF PENSION 

PLAN IMPORTANT?....................................................................................K-2

Q&A 5: WHAT ARE SURVIVOR BENEFITS, AND WHY SHOULD A 

QUALIFIED DOMESTIC RELATIONS ORDER TAKE THEM INTO 

ACCOUNT? .................................................................................................K-3

Q&A 6: WHEN CAN AN ALTERNATE PAYEE GET BENEFITS UNDER A 

QUALIFIED DOMESTIC RELATIONS ORDER? .........................................K-3

PART L: GENERAL INFORMATION ABOUT THE FUND .........................................L-1

SOME BASIC FACTS ABOUT THE FUND ............................................................L-1

TYPE OF FUND......................................................................................................L-1

TYPE OF ADMINISTRATION OF THE FUND AND AUTHORITY AND 

POWER OF THE BOARD OF TRUSTEES..................................................L-1

FUNDING AND CONTRIBUTIONS ........................................................................L-2

WHEN YOU WORK IN THE JURISDICTION OF A RECIPROCATING FUND ......L-2

AGENT FOR SERVICE OF LEGAL PROCESS .....................................................L-3

EFFECT OF AMENDMENTS TO THE FUND ........................................................L-3

SELLING, ASSIGNING OR PLEDGING BENEFITS...............................................L-4

TERMINATION OF THE FUND ..............................................................................L-4

ERISA RIGHTS OF PARTICIPANTS......................................................................L-4

APPENDIX A................................................................................................................... 1

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

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 Summary Plan Description

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MESSAGE FROM THE BOARD OF TRUSTEES

TO THE PARTICIPANTS OF THE

PLASTERERS AND CEMENT MASONS LOCAL NO. 94 PENSION FUND

The Plasterers and Cement Masons Local No. 94 Pension Fund (referred to as 

the “Fund”) is an employee pension benefit plan covering members Local No. 592 of the 

Operative Plasterers and Cement Masons, referred to as the "Union" or "Local 592." 

The Pension Fund is sponsored by Local 592 and the Keystone Contractors Association.

The Fund was established to provide pension benefits, as determined by the 

Fund’s rules set forth in the Fund’s Plan of Benefits. Not all Participants are eligible to 

receive all of the Fund’s benefits. Read this booklet, which is called a Summary Plan 

Description, carefully to determine whether you are eligible to receive any Fund benefits, and if so, which benefits.

This Summary Plan Description is designed to describe the benefits which are 

provided by the Fund, and to inform you of your rights under the Fund and the Employee Retirement Income Security Act. The complete details of the Fund are contained in the Amended and Restated Plan of Benefits. Although extreme care has been 

taken to provide accurate information in this Summary Plan Description, it is important 

for you to understand that if any of the terms in this Summary Plan Description are inconsistent with any of the terms of the Fund’s Amended and Restated Plan of Benefits, 

which is the document governing the operation of the Fund, the terms of the Plan of 

Benefits control.

Nothing in this Summary Plan Description is meant to interpret or change in any 

way the provisions expressed in the Amended and Restated Plan of Benefits. Only the 

full Board of Trustees is authorized to interpret the Plan of Benefits. No employer, Union, or any representative of any employer or Union, in such capacity, is authorized to 

interpret this Fund, nor can any such person act as agent of the Trustees. The Trustees 

reserve the right to amend, modify or discontinue all or part of this Fund whenever, in 

their judgment, conditions so warrant.

The provisions of the Fund’s Plan of Benefits described in this Summary Plan 

Description generally apply to currently active participants. If you are not an active participant, a prior version of the Summary Plan Description may apply to you. Copies may 

be obtained by making written request to the Fund’s Contract Administrator.

We have tried to write this Summary Plan Description in language that you can 

easily understand. If you have questions, however, feel free to call the Contract Administrator, whose name, address and telephone number are given inside. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

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This Summary Plan Description is a valuable piece of property. Please put it in a 

safe place for your future reference. Notices of changes will be sent to you as the Fund 

is amended or revised. 

A replacement Booklet will cost you the actual cost of the Booklet, plus postage 

and handling charges. You may also examine the Summary Plan Description, without 

charge, at the Contract Administrator’s office.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

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A-1

PART A: IMPORTANT FUND FACTS

Q&A 1: HOW DOES THE FUND WORK?

The Fund is a defined benefit pension plan. In order to understand more fully 

some of the matters discussed later on in this Summary Plan Description, you will need 

to have a general idea of how a defined benefit pension plan works. Employers are required to make contributions to this Fund for each hour that you work. Individual contributions are not permitted under the Fund. The Board of Trustees hires an actuary to 

determine what types and amounts of benefits can be paid based on the amount of contributions received and other factors, such as investment income and ages of Active 

Participants. The law requires the Fund to have an actuarial study every year, and the 

amounts and types of plan benefits are determined by the annual actuarial study.

Q&A 2: WHAT IS THE MEANING OF “EFFECTIVE DATE” IN THIS 

SUMMARY PLAN DESCRIPTION?

This Summary Plan Description includes amendments to the Fund’s Plan of 

Benefits through November 18, 2016. It generally applies to Covered Employees who 

are currently active. Throughout the Summary Plan Description you will see different 

effective dates for various provisions of the Fund’s Plan of Benefits. Some of the 

changes were as the result of the passage of laws. Others were made by the Fund’s 

Board of Trustees as they continually review the Fund’s fiscal status and the needs of 

the Fund’s Participants. Therefore, if you have stopped working, the provisions of the 

Fund’s Plan of Benefits that determine your benefits may be different from those set 

forth in this Summary Plan Description. 

Q&A 3: WHAT ARE SOME OF THE HIGHLIGHTS OF THE FUND?

Your eligibility for a pension from the Fund, and the amount of the benefit 

you will receive at retirement, depend on how much time you work for contributing employers and your age at retirement. 

As a Participant in the Fund, you earn two types of credits while you are 

working for a contributing employer: Credited Service, which can either be Credited Future Service or Credited Past Service, and Vesting Service Years. 

You earn Credited Future Service for time you work while your employer is 

obligated to make contributions to the Fund on your behalf. You may also be entitled to Credited Past Service for time you worked before your employer became 

obligated to make contributions on your behalf. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

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You earn one year of Vesting Service Years for any Plan Year you work at 

least 1000 hours while your employer is making contributions to the Fund on your 

behalf.

You can earn a non-forfeitable right to a pension from the Fund—that is, 

you become vested—when you have five Vesting Service Years and you work at 

least one hour in Covered Employment on May 1, 1998 or later. 

You can retire on a Normal Retirement Age Pension at age 65, provided 

you have five years of Future Service Credit, or you have age attained age 65

and it has been five years since you first participated in the Fund. 

You are eligible to receive an Early Retirement Pension as early as age 55

with 15 or more years of Credited Service. Benefits will be reduced for each 

month that you are under age 55. 

If you become Permanently Disabled—which means you are unable to 

work at the trade and your disability is expected to last for at least 12 months—

while working, you may be eligible for a Disability Pension prior to age 65, with 

no Early Retirement reduction.

For the Normal Retirement Age and Early Retirement Age Pensions, the 

Fund pays monthly pension benefits for your lifetime. Certain forms of payment 

under the Fund provide benefits to your spouse or beneficiary upon your death. 

If you die before you retire, your spouse or minor children may be entitled 

to Pre-Retirement Death Benefits.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00687
B-1

PART B: WHAT IS THE MEANING OF CERTAIN IMPORTANT FUND 

TERMS?

1. “Covered Employment” means employment under the terms of a collective bargaining agreement or a Participation Agreement which requires the employer to 

contribute to this Fund or a plan that is party to a reciprocal agreement with this Fund.

2. “Credited Future Service” is credit for work after you are covered by the 

Fund. After May 1, 1967, you will be credited in each Plan Year with 1/10th of a year of 

Future Service Credit for each 140 hours for which contributions are payable to the 

Pension Fund. After May 1, 1996, you will be credited in each Plan Year with 1/20th of a 

year of Future Service Credit for each 70 hours for which contributions are payable to 

the Pension Fund. If you have less than 280 hours during a Plan Year, no Future Service Credit will be given for that Plan Year.

In addition to hours for which contributions are payable to the Pension Fund, 

credit will be given for each day you are absent from work if you receive workers’ compensation benefits arising from Covered Employment or sick and accident benefits paid 

by the Building Trades Health and Welfare Fund (including any waiting period). The 

credit for such absence shall be at the rate of eight hours for each work day, up to 1000 

hours in any period of two consecutive Plan Years, but not more than 2000 hours during 

a continuous disability or a series of periods of disability arising from the same cause. 

In order to obtain this credit, you must notify the Contract Administrator.

If, after becoming a Participant, you take a leave from Covered Employment to 

perform service in the uniformed services as that term is defined in the Uniformed Services Employment and Reemployment Rights Act of 1994 (“uniformed service”), you will 

receive up to five years of credited service for the time you spend in uniformed service, 

provided that you return to Covered Employment within ninety days after your discharge 

or release from hospitalization following your discharge. If you die or become Permanently Disabled while in uniformed service, you will receive up to five (5) years of Credited Service for the time you spent in uniformed service. You will receive 130 hours future service credits for each twelfth of a year that you are on active duty. If you believe 

you are entitled to this type of credit, contact the Contract Administrator.

3. “Credited Past Service” is for work before you were covered by the Fund. 

A year of Credited Past Service is given for each full year of continuous and uninterrupted service from the date you first worked for a Participating Employer under a collective bargaining agreement with your Union to May 1, 1967. The applicable date shall 

be determined from employer and employee records, Social Security records and other 

similar evidence, including the Union’s records, as the Board of Trustees may, by rule or 

regulation, uniformly applied, determine to be acceptable.

4. “Credited Service” is the total of your Credited Past and Future Service.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

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 Summary Plan Description

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5. “Divesting Service Years” are Plan Years where you have less than 280 

Vesting Hours. If you do not work at least 280 hours for which contributions are payable 

to the Pension Fund during a Plan Year, you will be charged with a Divesting Service 

Year. This does not apply if you are temporarily disabled, in military service, or during 

layoff if otherwise available for work. It also does not apply if the reason you failed to 

work those hours was due to the birth or adoption of a child. Once the accumulated 

number of consecutive Divesting Service Years equals 5 years or the total number of 

Vesting Service Years you have earned, you will lose all credits and benefits under the 

Fund.

6. “Early Retirement” means attaining age 55 and having completed fifteen 

(15) or more years of Credited Service.

7. "Eligible Spouse" means a spouse who has been married to you for the 

one-year period ending on the earlier of: (a) the day on which your pension benefits 

commence, or (b) the day you die. If a spouse was married to you during the one-year 

period ending on the day your pension benefits commence, the spouse need not be 

married to you at the time of your death in order to be eligible. If a spouse is married to 

you for less than one year on the day your pension benefits commence, but you have 

been married for at least one year ending on the date of your death, the spouse is eligible. If a Qualified Domestic Relations Order provides that a former spouse is not entitled to a survivor benefit, the spouse shall not be eligible.

8. “Extension Period” is a period of up to two consecutive Plan Years 

where, if you work fewer than 280 hours, you will continue to be considered an Active 

Fund Participant.

9. “Industry Employment” means employment or self-employment of a 

Pensioner at any place in the Commonwealth of Pennsylvania and the remainder of any 

Standard Metropolitan 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 Fund.

10. “Normal Retirement Age” or “Normal Retirement Date” means the later 

of the time you attain age 65, or the fifth (5th) anniversary of the time you commenced 

participation in the Fund. Because this Fund 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 you commenced participation or

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

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 Exhibit 5e

 Summary Plan Description

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(b) May 1, 1993. The participation commencement date is the 

first day of the first Plan Year in which you commenced participation in the 

Fund.

11. “Permanently Disabled” means those disabilities which are the subject of 

an award from the Social Security Administration.

12. “Plan Year” is the first day of May to the last day of April, annually. The 

Plan Year is important for various reasons. For example, it is the period as to which 

records are kept for Fund administration.

13. “Trade or Craft" means all work of the type performed by members of the 

bargaining unit covered by this Fund, and employment as a supervisor of such work.

14. “Vesting Hours” include each hour used to determine your Future Service 

Credit (described in item 2 above), plus each hour you work for an employer who is participating in the Fund, even though you work in a job class not covered by the collective 

bargaining agreement. To earn Vesting Hours this way, you must have been working 

with the same employer in Covered Employment immediately before or after you 

worked in the job class not covered by the collective bargaining agreement. You may 

also receive Vesting Hours for the time you spent in military service after you first become a Participant in the Fund. If you believe you are entitled to these kinds of Vesting 

Hours, please contact the Contract Administrator.

15. “Vesting Service Years” are Plan Years that count toward determining 

whether you have a vested right to your pension (a right which cannot be taken away). 

If you were covered under the Fund before May l, 1976, your Vesting Service as of May 

l, 1976, consists of your Credited Service as of that date. After May l, 1976, you will 

earn a Vesting Service Year for each Plan Year that you earn 1000 or more Vesting 

Hours. If you earn more than 280 Vesting Hours in a Plan Year through April 30, 1996, 

you will receive 1/10th Vesting Service Year for each full unit of 140 Vesting Hours up to 

1000 Hours. Effective May 1, 1996, if you earn more than 280 Vesting Hours in a Plan 

Year, you will receive 1/20th Vesting Service Year for each full unit of 70 Vesting Hours 

up to 1000 Hours.

A Vesting Hour includes each Hour of Covered Employment used to determine 

your Credited Future Service (described in Paragraph 2, above), plus each hour you 

work for an employer who is participating in the Fund, even though you work in a job 

class not covered by the Fund. To earn Vesting Hours this way, you must have been 

working with the same employer in Covered Employment immediately before or after 

you worked in the job class not covered by the Fund. You may also receive credit for 

the time you spent in Military Service after you first become a Participant in the Fund. If 

you believe you are entitled to these kinds of Vesting Hours, please contact the Contract Administrator.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

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 Exhibit 5e

 Summary Plan Description

CM94:00690
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If, after becoming a Participant, you take a leave from employment to perform 

service in the uniformed services as that term is defined in the Uniformed Services Employment and Reemployment Rights Act of 1994 (“uniformed service”), you will receive 

up to five Years of Credited Service for the time you spend on leave for uniformed service, provided that you return to Covered Employment within ninety days after your discharge or release from hospitalization following your discharge. You will receive 130 

Hours of Future Service Credit for each twelfth of a year that you are on leave for uniformed service. In order to obtain this credit, you must notify the Contract Administrator.

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 Exhibit 5e

 Summary Plan Description

CM94:00691
C-1

PART C: HOW DOES THE FUND COUNT THE TIME YOU WORK?

Q&A 1: WHO IS COVERED BY THE FUND?

The Fund covers any person employed in the Local 592 collective bargaining 

units after May 1, 1967, by employers who have agreed by collective bargaining with 

the Union to participate in the Fund, or any person employed by an employer who is 

party to a Participation Agreement which requires the employer to contribute to the 

Fund. 

Q&A 2: HOW DO YOU EARN BENEFIT CREDITS UNDER THE 

FUND?

From the first hour that you work in Covered Employment, you will begin to accrue hours towards Future Service Credits. For each 140 hours of Covered Employment in a Plan Year after May 1, 1967 and prior to May 1, 1996, you will be credited 

with 1/10th of a year of Future Service Credit. For each 70 hours of Covered Employment in a Plan Year after April 30, 1996, you will be credited with 1/20th of a year of Future Service Credit. However, if you have less than 280 hours during a Plan Year, no 

Future Service Credit will be given for that Plan Year. (See definition of Future Service 

Credit in the Q&A entitled “What is the Meaning of Certain Important Fund Terms?” for a 

more complete explanation of how you accrued Future Service Credits prior to May 1, 

1997, and how you accrue Future Service Credits after May 1, 1997.) Until you become 

vested under the Fund, it is possible that you may lose benefits that you have accrued 

under the Fund.

In addition to hours for which contributions are payable to the Pension Fund, 

credit will be given for each day you are absent from work if you receive workers’ compensation benefits arising from covered employment or sick and accident benefits paid 

by the Building Trades Health and Welfare Fund (including any waiting period). The 

credit for such absence shall be at the rate of eight hours for each work day, up to 1,000 

hours in each period of two consecutive Plan Years, but not more than 2,000 hours during a continuous disability or series of periods of disability arising from the same cause. 

In order to obtain this credit, you must notify the Contract Administrator.

If, after becoming a Participant, you take a leave from employment to perform 

service in the uniformed services as that term is defined in the Uniformed Services Employment and Reemployment Rights Act of 1994 (“uniformed service”), you will receive 

up to five years of credited service for the time you spend in uniformed service, provided 

that you return to covered employment within ninety days after your discharge or release from hospitalization following your discharge. You will receive 120 hours of future 

service credit for each one-tenth year that you are on active duty. In order to obtain this 

credit, you must notify the Contract Administrator.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

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 Exhibit 5e

 Summary Plan Description

CM94:00692
C-2

Q&A 3: WHAT HAPPENS IF YOU LEAVE COVERED 

EMPLOYMENT ON ACCOUNT OF BEING CALLED TO

ACTIVE MILITARY DUTY?

The Fund provides you with certain rights for an absence from employment due 

to Uniformed Services Leave. Uniformed Services Leave means service in the military 

or the reserves. These rights are governed by the Uniformed Services Employment and 

Reemployment Rights Act (“USERRA”). To qualify for these rights, you must apply for 

reemployment under USERRA within a short time following your military leave. If you 

satisfy these requirements, you will be treated as if you were working in Covered Employment.

If you die or become disabled during your Uniformed Services Leave, USERRA 

requires that you be treated as if you had been reemployed on the day before your 

death or disability, and your employment was terminated on the date of your death or 

disability.

Prior to your Uniformed Services Leave you should contact the Fund’s Contract 

Administrator and inform the Contract Administrator of your upcoming Uniformed Services Leave, and you should provide the Contract Administrator with a copy of your Activation Orders. Following your Uniformed Services Leave you should again contact the 

Fund’s Contract Administrator and provide the Contract Administrator with a copy of 

your Discharge Orders.

Q&A 4: WHAT HAPPENS IF YOU WORK UNDER A COLLECTIVE 

BARGAINING AGREEMENT WHERE YOUR EMPLOYER 

CONTRIBUTED TO ANOTHER PENSION FUND?

Determining the Credited Future Service and benefit amounts for Participants 

who travel from one jurisdiction to another can be complex. However, a set of rules and 

procedures has been developed to handle various situations. 

The Fund has entered into agreements with other Pension Funds, which are 

called Reciprocal Agreements, which require those Pension Funds to send to this Fund 

employer contributions made for hours worked by Participants of this Fund. 

Unless there is a Reciprocal Agreement that applies to this Fund and the other 

retirement plan at the time you working away from home, you cannot earn pension credits under the Fund when you travel to a non-participating jurisdiction.

Work in another jurisdiction before a Reciprocal Agreement was effective does 

not count for a pension credit under the Fund. Information on current Reciprocal

Agreements that the Fund has may be obtained from the Contract Administrator.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00693
C-3

When the Fund receives contributions from another Fund that has a Reciprocal 

Agreement with this Fund, you will receive credit for all hours you have worked. 

Q&A 5: WHEN WILL YOU HAVE A VESTED RIGHT TO YOUR

PENSION?

Vesting Service Years are used to determine your non-forfeitable right to a benefit and eligibility for a vested pension. It is possible to earn a Vesting Service Year while 

only earning a portion of a year of Credited Future Service. 

You will have a vested right (a right which cannot be taken away) to your pension 

after you have earned 5 Vesting Service Years, provided you have at least 1 hour of Future Service Credit after May 1, 1998, or after you become eligible for Normal Retirement. If you did not have at least 1 hour of Future Service Credit after May 1, 1998, you 

will have a vested right to your pension after you have earned 10 Vesting Service years 

or after you become eligible for Normal Retirement. 

If you complete your Extension Period (you are given a grace or Extension Period for up to two consecutive Plan Years if you become inactive by virtue of having failed 

to work at least 280 hours for which contributions are payable in a particular Plan Year) 

after you become a vested Participant, you will be provided a monthly pension benefit to 

start at your Normal Retirement Age or Early Retirement Age, if you qualify. The benefit 

amount will be based on the credit you earned up to the time you completed your Extension Period, and will be given to you at the rate in effect at that time. 

If you later return to Covered Employment, you may earn new credits at a higher 

rate, but your old credits will be paid at the same rate as before.

Q&A 6: IS IT POSSIBLE TO LOSE CREDITS WHICH YOU HAVE 

EARNED UNDER THE FUND?

Yes, if you do not have a vested right to your pension. If you do not work at least 

280 hours for which contributions are payable to the Pension Fund during a Plan Year, 

you will be charged with a Divesting Service Year. This does not apply if you are temporarily disabled, in military service, or during layoff if otherwise available for work. It 

also does not apply if the reason you failed to work those hours was due to the birth or 

adoption of a child. Once the accumulated number of consecutive Divesting Service 

Years equals 5 years or the total number of Vesting Service Years you have earned 

(whichever is more), you will lose all credits and benefits under the Fund. This is commonly referred to as the “Rule of Parity.” Under the “Rule of Parity,” years of service 

before a break-in-service (a Plan Year in which you work less than 500 hours) by a nonvested Participant must be taken into account after a break-in-service, unless the number of one-year breaks in service equals or exceeds the greater of: (a) five consecutive 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00694
C-4

one-year breaks in service, or (b) the aggregate number of years of service earned before the consecutive breaks in service.

Also, if you have reached Normal Retirement Age and you are an Active Participant, and it has been five years since you first had contributions made to the Fund, you 

will have a vested benefit.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00695
D-1

PART D: WHEN ARE YOU ELIGIBLE TO RECEIVE A BENEFIT FROM 

THE FUND?

Q&A 1: WHAT TYPES OF BENEFITS ARE PAID BY THE FUND?

The Fund provides the following types of benefits:

Normal Retirement Age Pension

Early Retirement Age Pension

Disability Benefits

Pre-Retirement Surviving Spouse/Minor Children Pension

Q&A 2: WHAT IS THE MEANING OF “RETIREMENT”?

You must stop working in the collective bargaining unit or with an employer who 

is party to a Participation Agreement, make an application for a pension benefit, and 

have the application approved by the Board. Thereafter, you will be considered “retired” 

so long as you are not employed within the State of Pennsylvania and any remainder of 

any Standard Metropolitan Statistical Area which falls in part within Pennsylvania in the 

plastering and cement finishing trade.

Q&A 3: WHEN MAY YOU RETIRE ON A NORMAL RETIREMENT 

AGE PENSION?

You may retire if you have attained age 65, and it has been 5 years since you 

first participated in the Fund, provided you have not lost your credits. (see Q&A entitled 

“Is it Possible to Lose Credits which You have Earned Under the Fund?”). This is 

known as your Normal Retirement Date.

Q&A 4: ARE YOU REQUIRED TO RETIRE ON YOUR NORMAL 

RETIREMENT DATE?

No. You may continue working as long as you like. When you do retire, you will 

be given credit for hours worked after your Normal Retirement Date. However, if you 

continue working until age 701⁄2, your pension must begin no later than April 1st of the 

calendar year in which you reach age 701⁄2. If you have ceased work and have not applied for Pension Benefits, and have reached age 701⁄2, your pension must begin no later than April 1st of the calendar year following the year in which you attained age 701⁄2.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00696
D-2

Q&A 5: MAY YOU RETIRE EARLY?

Yes. You may retire early if you have attained age 55 and completed 15 years of 

Credited Service Years.

Q&A 6: WILL YOUR PENSION BE REDUCED IF YOU RETIRE 

EARLY?

Yes. Your reduced pension benefit if you retire early (age 55 and 15 years of 

Credited Service) is based upon your years of Credited Service and your age when you 

retire. If you retire on or after May 1, 2013, your Early Retirement Pension is equal to 

your Normal Retirement Pension reduced by 1/200th for each month that your retirement 

date precedes your Normal Retirement Date. For retirements prior to May 1, 2013, the 

reduction was 1/360th for each month that retirement precedes Normal Retirement. 

Q&A 7: WHEN MAY YOU RECEIVE DISABILITY BENEFITS?

If you become Permanently Disabled from performing your regular work while 

you are an Active Participant or during the 2-year Extension Period prior to March 15, 

2017, and after you have completed 5 years of Credited Future Service, you will be entitled to a disability pension. (See Q&A entitled “Are Disability Benefits Provided After 

You are no Longer an Active Participant?”) Your disability pension will start on the later 

of, (a) 6 months after you have been Permanently Disabled, or (b) the date you make 

an application for a disability pension on a form approved by the Board of Trustees. 

The Board may require your permanent disability to be certified by a physician chosen 

by the Board. The requirement of permanent disability can be met if the physician certifies that the disability will persist for at least one year or result in death.

Q&A 8: ARE DISABILITY BENEFITS PROVIDED AFTER YOU 

ARE NO LONGER AN ACTIVE PARTICIPANT?

You are given a grace or Extension Period for up to two consecutive Plan Years 

if you become inactive by virtue of having failed to work at least 280 hours for which 

contributions are payable in a particular Plan Year. During this grace period, you remain eligible for disability benefits; thereafter, your eligibility ceases.

Q&A 9: HOW CAN YOU LOSE ELIGIBILITY FOR A DISABILITY 

BENEFIT?

At any time while you are receiving a Disability Benefit the Fund may ask for 

proof of your continuing eligibility for benefits. If you recover from your disability before 

you reach Normal Retirement Age, you are no longer eligible to receive a Disability 

Benefit. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00697
D-3

Q&A 10: HOW LONG WILL THE DISABILITY BENEFIT BE PAID?

The monthly disability pension is payable as long as you are Permanently Disabled or until your Normal Retirement Date, whichever is earlier. The Board of Trustees 

may require you to undergo a physical examination, before you reach your Normal Retirement Date, by a physician chosen by it in order to determine the continuance of your 

disability. A physical examination will not be required more frequently than once each 

year. Your disability pension would stop if you refused to undergo a physical examination required by the Board. When you reach Normal Retirement Age, your monthly 

pension benefit will be converted to a Normal Retirement Date pension. At that time, 

you will be required to elect an appropriate form of monthly pension benefit.

Q&A 11: WHAT DEATH BENEFITS ARE PAYABLE?

1. If you die after you complete 5 years of Future Service Credits, or 5 years 

of Vested Service Credits, but before your Normal Retirement Age, and:

a. you are survived by an Eligible Spouse (or former spouse, subject 

to a Qualified Domestic Relations Order) who is living with you at the time of your 

death, and

b. if you had not elected a form of pension other than a Husband-Wife 

Pension, your Eligible Spouse (or former spouse, subject to a Qualified Domestic 

Relations Order) will receive a monthly benefit of 50% of the amount you would 

have received had you retired on the day prior to your death on an EmployeeOnly Pension without reduction because you had not reached Normal Retirement 

Age. The payments to the Eligible Spouse stop the first day of the month following your Eligible Spouse's death. If your Eligible Spouse dies and there are surviving minor children, benefits will be payable to the minor children (see Paragraph 3 of this Question for a detailed explanation). 

2. If you die:

a. after you are eligible for Normal Retirement but before you retire, 

and

b. if you had not elected a form of pension other than a Husband-Wife 

Pension, 

your Eligible Spouse (or former spouse, subject to a Qualified Domestic Relations Order) will receive a monthly benefit of 50% of the amount you would have received had 

you retired on the day prior to your death and elected the Husband-Wife 50% pension. 

The payments to your Eligible Spouse would continue as long as your Eligible Spouse 

lives. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00698
D-4

3. Whenever a death benefit is payable and there is no surviving Eligible 

Spouse (or former spouse, subject to a Qualified Domestic Relations Order) to receive 

it, or a surviving Eligible Spouse receiving the death benefit dies, the benefit shall be 

payable to the deceased Participant's Minor Children. A "Minor Child" is a natural or 

adopted child of the deceased who is less than 18 years of age and is recognized as a 

dependent for benefit purposes by the Social Security Administration. If there is more 

than one Minor Child, the benefit shall be divided equally among all Minor Children. As 

each child reaches majority, or if any child dies, the benefit that had been paid to that 

child shall be divided equally among the remaining Minor Children.

Q&A 12: WILL ANY BENEFITS BE PAID TO YOUR BENEFICIARY, 

SPOUSE OR CHILDREN IF YOU DIE WHILE RECEIVING 

A DISABILITY PENSION?

Yes, if you became Permanently Disabled prior to March 15, 2017, and if you 

had earned 5 years of Future Service Credits at the time you became disabled nd are 

survived by an Eligible Spouse, your Eligible Spouse will receive a monthly benefit of 

50% of the amount of your disability pension. Your Eligible Spouse on your death must 

be the same Eligible Spouse to whom you were married on the date you became totally 

and Permanently Disabled. Payments to the Eligible Spouse continue as long as she 

lives.

Whenever a death benefit is payable and there is no surviving Eligible Spouse 

(or former spouse, subject to a Qualified Domestic Relations Order) to receive it, or a 

surviving Eligible Spouse receiving the death benefit dies, the benefit shall be payable 

to the deceased Participant's Minor Children. A "Minor Child" is a natural or adopted 

child of the deceased who is less than 18 years of age and is recognized as a dependent for benefit purposes by the Social Security Administration. If there is more than one 

Minor Child, the benefit shall be divided equally among all Minor Children. As each 

child reaches majority, or if any child dies, the benefit that had been paid to that child 

shall be divided equally among the remaining Minor Children.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00699
E-1

PART E: HOW MUCH WILL YOUR PENSION BE?

At your Normal Retirement Age you are eligible for a monthly pension. 

The monthly pension benefit is arrived at by multiplying the number of years of 

Credited Service by the value of the Credited Service. The value of Credited Service for 

various time periods is contained in Appendix A of this Summary Plan Description. 

The amount of the monthly pension benefit that you receive may be changed by 

a Qualified Domestic Relations Order (see the section “Qualified Domestic Relations 

Orders”). 

The value of your Early Retirement Age Pension is based upon your years of 

Credited Service, and is calculated by multiplying the number of years of Credited Service times the value of the Credited Service, reduced by 1/200th for each month that you 

are between the ages of 55 and 65. If you retired prior to May 1, 2013, the reduction 

was 1/360th for each month that you were between the ages of 55 and 65.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00700
F-1

PART F: HOW WILL YOUR PENSION BENEFITS BE PAID?

Your Pension Benefit can be paid in one of several ways. There are, however, 

standard forms of payments for married and single Participants. If you do not select an 

optional form, you will receive payment in the standard form that applies to you. You 

cannot change your form of payment after the payment of your pension benefit begins.

Q&A 1: IF YOU ARE MARRIED, WHAT IS THE STANDARD FORM 

FOR EARLY AND NORMAL RETIREMENT AGE 

PENSIONS?

Husband and Wife 50% - Under federal law, the standard form of payment for 

married Participants is the Husband and Wife 50% Pension. 

If you are married on the effective date of your Pension, your Pension will be paid 

automatically as a Husband and Wife 50% Pension unless you and your Eligible 

Spouse select a different form of payment in writing. To reject the standard form, you 

must use the appropriate form provided by the Fund as part of the Pension Application. 

Your Eligible Spouse’s consent must acknowledge the effect of the rejection, and must 

consent to a specific optional payment form and the form cannot be changed without 

your Eligible Spouse’s consent. To be valid, your rejection and consent must be filed 

within a specific timeframe. Your rejection may be revoked at any time before your 

payment begins. Your spouse’s signature must either be witnessed by a Notary Public 

or by the Fund’s Contract Administrator. 

The Husband and Wife 50% Pension provides you with a reduced monthly benefit for your lifetime. When you die, your Eligible Spouse continues to receive 50% of 

that reduced amount of his or her life. The amount of the reduction depends upon the 

difference between your age and your Eligible Spouse’s age at the time you retire. You 

and your Eligible Spouse must have been married to each other for at least one year on 

the date of your death for the Husband and Wife 50% Pension to be payable. The survivor portion of this benefit is only payable to the Eligible Spouse you are married to on 

the effective date of your benefits. 

If your pension is paid in the form of the Husband and Wife 50% Pension, the reduced amount you will received will not be increased to the full amount of the pension 

otherwise payable as a result of a subsequent divorce. Your pension will remain permanently at the reduced amount. If you and your Eligible Spouse are divorced after the 

effective date of your pension, your divorced spouse will be entitled to receive survivor 

benefits under the Husband and Wife 50% Pension benefit after your death. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00701
F-2

Q&A 2: IF YOU ARE MARRIED, WHAT ARE THE OPTIONAL 

FORMS FOR EARLY AND NORMAL RETIREMENT AGE 

PENSIONS?

You may choose not to receive your benefit in a standard form that applies to 

you. In order for an optional form to become payable, you must properly elect it on an 

appropriate form provided by the Fund. Also, if you are married at retirement, you must 

formally reject the Husband and Wife 50% Pension with the consent of your Eligible 

Spouse.

a. Employee Only Life

This form provides you with an equal monthly pension benefit for your lifetime.

b. Husband and Wife 100% Pension

This form of pension is similar to the Husband and Wife 50% Pension, except 

that it reduces your pension by a greater amount in return for providing 100% of your 

pension to your Eligible Spouse for his or her lifetime following your death. 

You and your Eligible Spouse must have been married to each other for at least 

one year on the date of your death for this benefit to be payable. The survivor portion of 

this benefit is only payable to the Eligible Spouse you are married to on the effective 

date of your benefits. If your pension is paid in the form of a Husband and Wife 100% 

Pension, the amount payable to you will not be adjusted as a result of a subsequent divorce. If you and your Eligible Spouse are divorced after the effective date of your pension, your divorced Eligible Spouse will be entitled to receive the survivor benefits under 

the Husband and Wife 100% Pension. 

c. Husband and Wife 75% Pension

This form of pension is similar to the Husband and Wife 50% Pension, except 

that it reduces your pension by a greater amount in return for providing 75% of your 

pension to your Eligible Spouse for his or her lifetime following your death. 

You and your Eligible Spouse must have been married to each other for at least 

one year on the date of your death for this benefit to be payable. The survivor portion of 

this benefit is only payable to the Eligible Spouse you are married to on the effective 

date of your benefits. If your pension is paid in the form of a Husband and Wife 75% 

Pension, the amount payable to you will not be adjusted as a result of a subsequent divorce. If you and your Eligible Spouse are divorced after the effective date of your pension, your divorced Eligible Spouse will be entitled to receive the survivor benefits under 

the Husband and Wife 75% Pension. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00702
F-3

d. Life Pension with Ten Years Certain Payments

You can elect to receive your monthly pension benefit as a Life Pension with Ten

Years Certain Payments. If you die before you have received at least ten (10) years of 

pension payments (120 monthly payments), the full monthly payment amount will continue to be paid to your designated beneficiary until the Fund has paid a combined total 

of ten (10) years of benefit payments (120 months) to you and your beneficiary. 

e. Life Pension with Five Years Certain Payments

You can elect to receive your monthly pension benefit as a Life Pension with Five 

Years Certain Payments. If you die before you have received at least five (5) years of 

pension payments (60 monthly payments), the full monthly payment amount will continue to be paid to your designated beneficiary until the Fund has paid a combined total of 

five (5) years of benefit payments (60 months) to you and your beneficiary. 

Q&A 3: IF YOU ARE SINGLE, WHAT IS THE STANDARD FORM 

FOR EARLY AND NORMAL RETIREMENT AGE

PENSIONS?

Employee Only Life - The standard form for single Participants is a pension that 

pays you a monthly benefit for your lifetime. This form provides you with an equal 

monthly pension benefit for your lifetime. 

There is no reduction to your benefit to provide this form of pension payment.

Q&A 4: IF YOU ARE SINGLE, WHAT ARE THE OPTIONAL

FORMS FOR EARLY AND NORMAL RETIREMENT AGE 

PENSIONS?

You may choose not to receive your benefit in a standard form that applies to 

you. In order for an optional form to become payable, you must properly elect it on an 

appropriate form provided by the Fund. 

a. Life Pension with Five Years Certain Payments

Under this form of payment monthly pension benefits will be paid to you for your 

lifetime. If you die before you have received at least five (5) years of pension payments 

(60 monthly payments), the full monthly payment amount will continue to be paid to your 

designated beneficiary until the Fund has paid a combined total of five (5) years of benefit payments (60 months) to you and your beneficiary. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00703
F-4

b. Life Pension with Ten Years Certain Payments

Under this form of payment monthly pension benefits will be paid to you for your 

lifetime. If you die before you have received at least ten (10) years of pension payments (120 monthly payments), the full monthly payment amount will continue to be 

paid to your designated beneficiary until the Fund has paid a combined total of ten (10) 

years of benefit payments (120 months) to you and your beneficiary. 

Q&A 5: HOW AND WHY SHOULD YOU DESIGNATE A 

BENEFICIARY?

You should have a Beneficiary Designation form on file with the Fund. This form 

is available through the Fund’s Contract Administrator. You must complete the actual 

form provided by the Fund. No other form of designation may be used. Completion of 

forms for a Health and Welfare Fund sponsored by the Local does not meet this requirement. If you are married when you retire, your Eligible Spouse must give written 

consent to your designation of a beneficiary made for the optional form of payment you 

elect. Your Eligible Spouse must also give written consent to any change in that designation made at a later date. 

If you should die without naming a beneficiary, or if your designated beneficiary 

has not survived you, any death or survivor benefits due under the Fund, or any benefits 

due you but not yet received at the time of your death, will be paid as follows to your:

Surviving spouse; or if no spouse, 

Surviving children, divided equally among them; or if no surviving children,

Surviving parents, divided equally between them; or if no surviving parents, 

Surviving siblings, divided equally among them; or if no surviving siblings;

To your estate.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00704
G-1

PART G: WHAT HAPPENS IF YOU CONTINUE TO WORK AFTER 

NORMAL RETIREMENT AGE OR RETURN TO WORK 

AFTER RETIRING?

Q&A 1: WHAT HAPPENS IF YOU CONTINUE TO WORK AFTER 

NORMAL RETIREMENT AGE?

If you reach Normal Retirement Age and have failed to apply for retirement benefits, you will be presumed to have continued Industry Employment. Your benefits shall 

be suspended until you make an application for benefits and it is approved.

Q&A 2: WHAT HAPPENS IF YOU RETURN TO INDUSTRY 

EMPLOYMENT BEFORE AGE 701⁄2?

The purpose of the Fund is to provide benefits to you when you are retired and 

not working. After your Normal or Early Retirement Benefits begin, your monthly benefit 

payments may be suspended if you return to Industry Employment.

If you: (1) return to work in Industry Employment, no matter whom you work for, 

and (2) work more than 500 hours in a calendar year, your pension will be suspended 

during any subsequent month within that calendar year in which you work more than 

forty (40) hours.

Q&A 3: WHAT DO YOU DO IF YOU RETURN TO INDUSTRY 

EMPLOYMENT?

If you return to work in Industry Employment, you must notify the Contract Administrator immediately of your return to work. The Contract Administrator may request 

information concerning your employment. The Contract Administrator may also from 

time to time, as a condition of your receiving future benefit payments, request that you 

certify that you are either not employed or that your employment is not Industry Employment.

If the Contract Administrator learns that you are employed in Industry Employment, and have failed to notify the Contract Administrator of your return to work, the 

Contract Administrator may assume that you have worked more than 500 hours in a 

calendar year and more than 40 hours in each month in a calendar year after you 

worked the 500 hours, and suspend your benefits. In addition, the Contract Administrator may presume that you have been working at the construction site for as long as your 

employer has been on that job. Your benefits will be suspended until the Contract Administrator is supplied with information to re-establish your eligibility.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00705
G-2

You will be given notice that benefits are being suspended during the first month 

in which benefits are being withheld. The notice shall provide you with: (1) a description 

of the specific reason or reasons why benefit payments are being suspended; (2) a 

general description of the Fund provisions relating to the suspension of payments and a 

copy of the Fund provisions; (3) a statement that Department of Labor regulations concerning suspension may be found at Title 29 Code of Federal Regulations Section 

2530.203-3; (4) a description of the Fund’s claim review procedure; and (5) an explanation of how to apply for resumption of benefits and a copy of the required form for benefit resumption.

If your pension benefits are suspended and you disagree with the action taken by 

the Contract Administrator or the Board, you may appeal the suspension of benefits by 

following the appeal procedures relating to denial of claims, which are explained later in 

this Summary Plan Description.

If you are unsure of whether or not any employment will be Industry Employment, 

you may request, in writing, a determination from the Contract Administrator of whether 

the contemplated employment will be Industry Employment. You may appeal the determination to the Board of Trustees in the same manner you would appeal a denial of a 

claim. The appeal procedure is explained later in the Summary Plan Description.

If you stop working or work 500 hours or less in a calendar year and 40 or less 

hours per month, you should submit to the Contract Administrator the Resumption of 

Benefits and Certification Form that was provided to you when your benefits were initially suspended. The Contract Administrator will assist you in reapplying for your benefits. 

The amount of your benefit payments will be resumed at the same amount you were 

receiving before you returned to work, unless there was an amendment to the Fund 

which specifically provided for an increase in your pension, or you earned more Credited Service. Your resumed benefit payments will be effective for the month following the 

cessation of Covered Employment. In the event you earned more Credited Service, the 

amount of your pension will be increased, and the payment for the additional Credited 

Service will commence no later than the beginning of the first month in the calendar 

year after you cease Covered Employment.

Q&A 4: HOW DOES THE FUND RECOVER OVERPAYMENTS OF 

BENEFITS MADE TO YOU WHILE YOU WORK IN 

INDUSTRY EMPLOYMENT?

If you receive pension benefits that you were not entitled to because you returned to work, the Fund may take steps to recover this money.

Also, if you received benefits during any months when you worked in Industry 

Employment and were not entitled to benefits, the Contract Administrator shall withhold 

the amount owed to the Fund, but no more than three (3) months of benefits, before re-

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00706
G-3

instating benefits. If the Fund’s claim for reimbursement of benefits is for more than 

three (3) months. The remaining amount shall be recouped by withholding up to 25 percent of your monthly benefit until the full amount is repaid.

Q&A 5: WHAT HAPPENS IF YOU RETURN TO INDUSTRY 

EMPLOYMENT AFTER AGE 701⁄2? 

Your monthly benefit is not subject to suspension as of April 1 following the calendar year during which you reach age 701⁄2, regardless of whether or not you continue 

working in Industry Employment. 

Q&A 6: IF YOU RETURN TO INDUSTRY EMPLOYMENT AFTER 

RETIREMENT, DO YOU EARN ADDITIONAL CREDITED 

FUTURE SERVICE?

If you return to Covered Employment after you retire and earn any additional Future Credited Service, at the end of the calendar year in which you have returned to 

Covered Employment your monthly pension benefits will be adjusted to reflect additional 

Pension Credits you earned, and will be effective as of the beginning of the calendar 

year in which you worked in the Covered Employment, if it results in a higher benefit 

payment. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00707
H-1

PART H: TAXATION OF BENEFITS

Q&A 1: ARE BENEFIT PAYMENTS SUBJECT TO WITHHOLDING 

AND INCOME TAX?

Pension Benefits paid from this Fund are taxable. The Fund will withhold money 

for federal income taxes from your Benefit as you direct on an IRS Form W-4P. You 

may change your withholding at any time by completing a new Form W-4P.

As required by federal law, the Fund reports all Pension Benefits to the IRS as 

pension income and mails to you a Form 1099-R at the end of January for amounts paid 

in the previous year. If you do not receive your Form 1099-R by February 15, you 

should contact the Fund’s Contract Administrator for a replacement. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00708
I-1

PART I: PROCEDURE FOR OBTAINING BENEFITS

Q&A 1: HOW DO YOU APPLY FOR BENEFITS?

The Board of Trustees has responsibility for determining benefit amounts and authorizing benefit payments. If you want to apply for benefits, please contact the Contract Administrator, who will provide you with the necessary forms and assist you in 

completing the forms. 

To comply with federal law, you cannot apply for your pension benefits earlier 

than 180 days before your intended pension effective date. However, at any time before that you may request an estimate or other information from the Contract Administrator about your pension benefits.

It is recommended that you contact the Contract Administrator at least 180 days 

prior to the date you desire to have your benefits begin and request that a Preliminary 

Application be sent to you. Unless you or your spouse, if you are married, are physically unable to travel to the Contract Administrator’s office, the Contract Administrator will 

schedule an appointment to meet with you and your spouse. At the meeting, the optional forms of benefits will be explained to you and your spouse. You will be given various documents explaining the options, which you can complete at the meeting or take 

home, review and complete, and then return to the Contract Administrator.

If you are unable to meet at the Contract Administrator’s office, the Contract Administrator will send to you a Preliminary Application for you to complete. Upon receipt 

of the Preliminary Application, you will be provided with a partially completed application 

along with other important documents. After you have completed the documents that 

were sent to you and you have returned them to the Contract Administrator, you will be 

sent various documents explaining the optional forms of benefits, along with forms that 

you and your spouse (if you have a spouse) must complete and return to the Contract 

Administrator. After you have completed the option forms, you will be sent a final Application for you to sign and return to the Contract Administrator.

In making an application, you may be represented by any Authorized Representative. If the Authorized Representative is not an attorney or a court-appointed 

guardian, you must designate the Representative by filing a Designation of Authorized 

Representative form with the Contract Administrator.

You must submit proof of your age, such as a birth certificate, with your application. If you are married, you need to submit proof of age for your Eligible Spouse and 

proof of marriage. You may provide legible copies of the required documents. If you 

provide original documents, the Fund will make copies and return the originals to you.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

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Between 30 and 180 days before your anticipated retirement date, the Contract 

Administrator will provide you with a written explanation of your normal form of benefit 

and the other forms of benefit available to you under the Fund. The explanation will advise you that you may waive the normal form of benefit, the effects of such waiver and, 

if you are married, the rights of your Eligible Spouse (or former spouse, subject to a 

Qualified Domestic Relations Order) if you waive the normal form of benefit. Finally, the 

explanation will advise you that your benefit will be paid in the normal form of benefit 

unless, within the 180 days before your benefit is scheduled to begin, or at another 

specified time, you notify the Contract Administrator that you wish your benefit to be 

paid in another form. (See Part F, “How Will Your Pension Benefits be Paid,” to determine what is your normal form and optional forms.)

To receive benefits under the Fund in a form other than the normal form, you 

must file a written election with the Contract Administrator. The time when you may 

make your election is the period beginning when you receive the explanation of benefits 

from the Contract Administrator and ending when your benefit payments are to begin, or 

at another specified time. You must be given at least 30 days to decide; however, this 

period may be reduced if notice is given less than 30 days before benefits are to begin, 

but only if you so elect. You will be given at least seven days to consider your decision. 

During your election period, you may revoke an earlier election and request additional 

information about your benefit from the Contract Administrator. Your benefit payment 

election will become irrevocable on the day you begin to receive benefits from the Fund, 

or at another specified time.

You will be considered as having applied only when the Contract Administrator 

has received your completed application form. Payment cannot begin before the completed application form is received. Your application will have an expiration date, which 

is within 180 days of your request for it. You must return the application before the expiration date or it is void.

The requirement that a formal application form must be filed with the Contract 

Administrator also applies to spouses, other beneficiaries, and alternate payees. To 

avoid delays, survivors should request an application form as soon as possible after a 

Participant’s death.

If you are applying for a disability pension, be sure to include the date of your 

disability. Do not delay filing for a disability pension while your application for Social 

Security disability benefits is still pending. You should be aware that you will also have 

to provide a physician’s statement if you are applying for a disability pension.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00710
I-3

Q&A 2: HOW WILL YOUR APPLICATION FOR BENEFITS BE 

PROCESSED?

Upon receipt of your application form, the Contract Administrator will review it 

within a few days for completeness. If your application is incomplete, you will be notified as soon as possible with a written request for additional information.

Every effort will be made to complete the processing of your application within 90 

days after receipt by the Contract Administrator. This 90-day period will begin upon receipt of your signed application by the Contract Administrator, even if you have not 

submitted all of the information needed for the Fund to make a decision on your application. For applications for disability pensions, this 90-day period will instead be 45 days.

Q&A 3: WHEN WILL BENEFIT PAYMENTS BEGIN?

Normal pension benefits shall be effective the first day of the month following 

your Normal Retirement Date and following the date you cease working with the intention of retiring.

Early pension benefits can be effective on the first day of the month after the 

Contract Administrator receives a completed application or, if later, following your last 

day of work.

Disability benefits cannot become effective until you are Permanently Disabled

for at least six months. The effective date of a disability pension depends on the date 

you become disabled and the date you file your pension application. In no event can 

your effective date be earlier than the first day of the seventh month following the onset 

of your disability.

Monthly death benefits will commence on the first day of the month after the Participant’s death (see Q&A entitled “What Death Benefits are Payable?”).

Q&A 4: WHAT HAPPENS IF YOU ARE OVERPAID MONTHLY

PENSION BENEFITS?

If you are paid an amount in error, the Fund has the right to recover from you the 

amount overpaid. If you do not repay the amount you owe, the Fund has the right to 

deduct the amount from your future payments.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00711
J-1

PART J: WHAT ARE YOUR APPEAL RIGHTS?

Q&A 1: WHAT IF YOUR BENEFITS ARE DENIED?

Your application for benefits will be considered a claim for benefits, and it will be 

subject to a full and fair review. Also, if your benefits are suspended on account of your 

return to Industry Employment (see Q&A entitled “What do you do if you Return to Industry Employment?”), your suspension of benefits will be considered a claim for benefits for appeal purposes. If your application is wholly or partially denied, the Contract 

Administrator will provide you with written notification of the adverse determination. 

This written notification must be provided to you within a reasonable period of time, but 

not later than 90 days after the receipt of your application by the Contract Administrator, 

unless the Contract Administrator determines that special circumstances require an extension of time for processing your claim. If the Contract Administrator determines that 

an extension of time for processing is required, written notice of the extension will be 

furnished to you prior to the termination of the initial 90 day period. In no event will such 

extension exceed a period of 90 days from the end of such initial period. The extension 

notice will indicate the special circumstances requiring an extension of time and the 

date by which the Contract Administrator expects to render the benefit determination.

In the case of a suspension of benefits, you will also be provided with written notification of the adverse benefit determination by the Contract Administrator within a 

reasonable time after the Contract Administrator receives information that you have engaged in Industry Employment, but not later than 90 days after receipt of the information.

In the case of a claim for disability benefits, then instead of the above, the Contract Administrator will provide you with written notification of the adverse benefit determination within a reasonable period of time, but not later than 45 days after receipt of 

the claim by the Contract Administrator. This period may be extended by the Contract 

Administrator for up to 30 days, provided that the Contract Administrator both determines that such an extension is necessary due to matters beyond the control of the 

Contract Administrator and notifies you, prior to the expiration of the initial 45 day period, of the circumstances requiring the extension of time and the date by which the Contract Administrator expects to render a decision. If, prior to the end of the first 30-day 

extension period, the Contract Administrator determines that, due to matters beyond the 

control of the Contract Administrator, a decision cannot be rendered within that extension period, the period for making the determination may be extended for up to an additional 30 days, provided that the Contract Administrator notifies you, prior to the expiration of the first 30-day extension period, of the circumstances requiring the extension 

and the date as of which the Contract Administrator expects to render a decision. In the 

case of any such extension, the notice of extension will specifically explain the standards on which entitlement to a benefit is based, the unresolved issues that prevent a 

decision on the claim, and the additional information needed to resolve those issues, 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00712
J-2

and you will be afforded at least 45 days within which to provide the specified information.

The Contract Administrator’s written notification of any adverse benefit determination must contain the following information:

(a) The specific reason or reasons for the adverse determination.

(b) Reference to the specific Fund provisions on which the determination is 

based.

(c) A description of any additional material or information necessary for you to 

perfect the claim and an explanation of why such material or information is necessary.

(d) Appropriate information as to the steps to be taken if you or your beneficiary want to submit your claim for review.

(e) In the case of disability benefits where disability is determined by the Contract Administrator:

(1) If an internal rule, guideline, protocol, or other similar criterion was relied 

upon in making the adverse determination, either the specific rule, guideline, protocol, 

or other similar criterion; or a statement that such rule, guideline, protocol, or other similar criterion was relied upon in making the adverse determination and that a copy of the 

rule, guideline, protocol, or other similar criterion will be provided to you free of charge 

upon request.

(2) If the adverse benefit determination is based on a medical necessity or 

experimental treatment or similar exclusion or limit, either an explanation of the specific 

or clinical judgment for the determination, applying the terms of the Fund to your medical circumstances, or a statement that such explanation will be provided to you free of 

charge upon request.

If your claim has been denied, and you want to submit your claim for review, you 

must follow the Claims Review Procedure.

Q&A 2: WHAT IS THE CLAIMS REVIEW PROCEDURE?

Upon the denial of your claim for benefits or the suspension of your benefits, you 

may file your claim for review to the Board of Trustees, in writing, with the Contract Administrator.

(a) YOU MUST FILE THE CLAIM FOR REVIEW NO LATER THAN 60 DAYS 

AFTER YOU HAVE RECEIVED WRITTEN NOTIFICATION OF AN ADVERSE BENEFIT DETERMINATION.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00713
J-3

HOWEVER, IF YOUR CLAIM IS FOR DISABILITY BENEFITS, THEN INSTEAD 

OF THE ABOVE, YOU MUST FILE THE CLAIM FOR REVIEW NO LATER THAN 180 

DAYS FOLLOWING RECEIPT OF WRITTEN NOTIFICATION OF AN ADVERSE BENEFIT DETERMINATION.

(b) You may submit written comments, documents, records, and other information relating to your claim for benefits.

(c) You will be provided, upon request and free of charge, reasonable access 

to, and copies of, all documents, records, and other information relevant to your claim 

for benefits.

An appeal of a determination by the Contract Administrator shall be decided by 

the Board of Trustees at their next regularly scheduled quarterly meeting that immediately follows the Board’s receipt of your appeal, unless the appeal is filed within 30 days 

preceding the date of such regular quarterly meeting. If an appeal is filed within 30 days 

of a regularly scheduled meeting, the Board’s determination shall be made no later than 

the date of the second regularly scheduled quarterly meeting following the Board’s receipt of the appeal. If special circumstances require a further extension of time for processing the appeal, a determination by the Board shall be rendered no later than the 

third meeting of the Board following the Board’s receipt of the appeal. If such an extension of time for review is required because of special circumstances, the Contract Administrator will notify you in writing of the required extension prior to the commencement 

of the extension, describing the special circumstances and the date as of which the appeal determination will be made by the Board.

In addition to the Claims Review Procedure above, if your claim is for disability 

benefits, then under the Claims Review Procedure:

(a) Your claim will be reviewed without deference to the initial adverse benefit 

determination and the review will be conducted by an appropriate named fiduciary of the 

Fund who is neither the individual who made the adverse benefit determination that is 

the subject of the appeal, nor the subordinate of such individual. 

(b) In deciding an appeal of any adverse benefit determination that is based in 

whole or part on medical judgment, the appropriate named fiduciary will consult with a 

health care professional who has appropriate training and experience in the field of 

medicine involved in the medical judgment.

(c) Any medical or vocational experts whose advice was obtained on behalf of 

the Fund in connection with your adverse benefit determination will be identified, without 

regard to whether the advice was relied upon in making the benefit determination.

(d) The health care professional engaged for purposes of a consultation under (b) above will be an individual who is neither an individual who was consulted in 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00714
J-4

connection with the adverse benefit determination that is the subject of the appeal, nor 

the subordinate of any such individual.

Q&A 3: WHAT ARE YOUR RIGHTS ON APPEAL TO THE BOARD 

OF TRUSTEES?

In making any appeal, you may be represented by an Authorized Representative. 

If the Authorized Representative is not an attorney or a court-appointed guardian, you 

must designate the representative by filing a Designation of Authorized Representative 

form with the Contract Administrator. 

You may request a hearing in person before the Board of Trustees. This request 

must be set forth in the written appeal filed with the Contract Administrator. At the hearing you may present any evidence, through documents or witnesses, to support the 

claim for benefits, and may be represented by a lawyer. You have the right to submit to 

the Board of Trustees along with the appeal documents, records and other information 

relating to the claim for benefits. You have the right, upon request and without charge, 

to reasonable access to and copies of all documents, records and other information relevant to the claim for benefits. You will be provided with the names of any medical or 

vocational experts whose advice was obtained on behalf of the Fund by the Contract 

Administrator in connection with the initial claim determination, without regard to whether the advice was relied upon in making the initial claim determination. The decision of 

the Board of Trustees will be based on its own review of the claim, taking into account 

all comments, documents, records, an other information submitted by you, without regard to whether such information was submitted or considered in the initial benefit determination and, where appropriate, in consultation with a health care professional who 

has appropriate training and experience in the field of medicine involved in the claim, 

and who was not consulted in connection with the initial benefit determination, and without any deference to the initial claim determination made by the Contract Administrator.

The Contract Administrator will notify you of the Board’s Appeal Determination as 

soon as possible, but no later than five (5) days after the Appeal Determination is made 

by the Board. In the case of an adverse benefit determination, the notification will set 

forth:

(a) The specific reason or reasons for the adverse determination.

(b) Reference to the specific Fund provisions on which the benefit determination is based.

(c) A statement that 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 your claim for benefits.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00715
J-5

(d) In the case of disability benefits where disability is determined by the 

Board of Trustees:

(1) If an internal rule, guideline, protocol, or other similar criterion was relied 

upon in making the adverse determination, either the specific rule, guideline, protocol, 

or other similar criterion; or a statement that such rule, guideline, protocol, or other similar criterion was relied upon in making the adverse determination and that a copy of the 

rule, guideline, protocol, or other similar criterion will be provided to you free of charge 

upon request.

(2) If the adverse benefit determination is based on a medical necessity or 

experimental treatment or similar exclusion or limit, either an explanation of the specific 

or clinical judgment for the determination, applying the terms of the Fund to your medical circumstances, or a statement that such explanation will be provided to you free of 

charge upon request.

(e) A statement of your right to sue under ERISA.

Q&A 4: WHAT ARE THE CONSEQUENCES OF YOUR FAILURE 

TO FILE AN APPEAL?

If you fail to seek a review through the Contract Administrator’s appeal procedure 

of any claim denial, in whole or in part, by the Contract Administrator, the decision of the 

Contract Administrator shall be final and binding. No legal action may be commenced 

or maintained against the Fund if you fail to appeal the denial of the claim. If you fail to 

seek a review by the Board of a claim denial, in whole or in part, by the Contract Administrator, the decision of the Contract Administrator shall be final and binding. No legal 

action may be commenced or maintained against the Fund if you fail to appeal the denial of the claim by the Contract Administrator. If you do not exercise your rights under 

ERISA to seek review of a decision by the Board denying the claim, in whole or in part, 

the decision of the Board shall be final and binding. No legal action may be commenced or maintained against the Fund more than 6 months after the decision of 

the Board of Trustees.

Q&A 5: CAN THERE BE EXTENSIONS OF TIME?

You, your Authorized Representative, the Contract Administrator, or the Board of 

Trustees may agree, in writing, to extend the times set forth herein for the application 

and claims review procedures. Any written agreement to extend the times must be reduced to writing prior to the expiration of the times set forth herein, and must specifically 

provide for the amount of the agreed-to extension.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00716
K-1

PART K: QUALIFIED DOMESTIC RELATIONS ORDER PROCEDURES

The Fund was designed to help provide financial security to you and your family 

in your retirement years. Therefore, your benefit under the Fund may not be assigned, 

sold, transferred, garnished or pledged as collateral. In addition, a creditor may not attach the value of your benefit in the Fund as a means of collecting a debt owed by you. 

However, ERISA does permit payment of all or a portion of pension benefits to 

an alternate person, such as a former spouse, child or other dependent, provided that 

such payment is made pursuant to a Qualified Domestic Relations Order. A domestic 

relations order may assign some or all of your pension benefits to a spouse, former 

spouse, child or other dependent, to satisfy family support or marital property obligations if, and only if, the order is a Qualified Domestic Relations Order. The law requires 

that the Fund pay benefits in accordance with the applicable requirements of any Qualified Domestic Relations Order that is submitted to the Fund. The following questions 

and answers are intended to provide you with a summary of the requirements that a 

domestic relations order must satisfy in order to be considered a Qualified Domestic Relations Order.

You or your Eligible Spouse may obtain from the Fund’s Contract Administrator, 

without charge, a copy of the Fund’s Procedures and Rules for Qualified Domestic Relations Orders and the Model Qualified Domestic Relations Order Instructions and Model Order.

Q&A 1: WHAT INFORMATION MUST A DOMESTIC RELATIONS 

ORDER CONTAIN TO QUALIFY AS A QUALIFIED 

DOMESTIC RELATIONS ORDER?

Qualified Domestic Relations Orders must contain the following information:

1. The name and last-known mailing address of the Participant and each alternate payee (i.e., a spouse, former spouse, child or other dependent of Participant); 

2. The name of the Fund to which the Order applies;

3. The dollar amount or percentage (or the method of determining the 

amount or percentage) of the benefit to be paid to the alternate payee; and

4. The number of payments or time period to which the Order applies.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00717
K-2

Q&A 2: ARE THERE OTHER REQUIREMENTS THAT A 

DOMESTIC RELATIONS ORDER MUST MEET TO BE A 

QUALIFIED DOMESTIC RELATIONS ORDER?

There are certain provisions that a Qualified Domestic Relations Order must not

contain:

1. The order must not require the Fund to provide an alternate payee or Participant with any type or form of benefit, or any option, if not otherwise provided under 

the Fund; 

2. The order must not require the Fund to provide for increased benefits; 

3. The order must not require the Fund to pay benefits to an alternate payee 

that are required to be paid to another alternate payee under another order previously 

determined to be a Qualified Domestic Relations Order; and

4. The order must not require the Fund to pay benefits to an alternate payee 

in the form of a Qualified Joint and Survivor Annuity for the lives of the alternate payee 

and his or her subsequent spouse. 

Q&A 3: WHAT WILL THE FUND DO UPON RECEIPT OF A 

DOMESTIC RELATIONS ORDER?

Upon receipt of a domestic relations order, the Contract Administrator will 

promptly notify the Participant and each alternate payee named in the order of the receipt of the order, and will provide to you, your spouse and any attorney representing 

you or your spouse with a copy of the Fund’s Procedures and Rules for Qualified Domestic Relations Orders and the Model Qualified Domestic Relations Order Instructions 

and Model Orders. Prior to submitting an Order or a proposed Order, it is recommended that you or your attorney request a copy of the Procedures and Rules and Instructions and Model Order to assist in the preparation of the Order. The Contract Administrator will determine, within a reasonable period of time after receipt of the order, 

whether the order is a Qualified Domestic Relations Order, and will promptly notify the 

Participant and each alternate payee of such determination.

Q&A 4: IN DECIDING HOW TO DIVIDE A PARTICIPANT’S 

PENSION BENEFITS, WHY IS UNDERSTANDING THE 

TYPE OF PENSION PLAN IMPORTANT?

The Fund is a defined benefit pension plan, which promises to pay to each Participant a specific benefit at retirement. The pension benefit is based on the amount of 

the Participant’s Credited Service and the unit value of the Credited Service. There are 

different unit values, depending upon when the Credited Service was earned. The Fund 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00718
K-3

does not provide for the payment of pension benefits in a lump sum. All benefits are 

calculated and paid on a monthly basis. The benefits are payable at various times and 

under certain circumstances, and in alternate forms. Depending upon the time when 

the benefit is paid or the form of the benefit, the amount of the benefit may be actuarially 

reduced.

Q&A 5: WHAT ARE SURVIVOR BENEFITS, AND WHY SHOULD A 

QUALIFIED DOMESTIC RELATIONS ORDER TAKE 

THEM INTO ACCOUNT?

The Fund, as required by federal law, provides benefits in a way that includes a 

survivor benefit for a Participant’s Eligible Spouse. In addition to the survivor benefits 

required by law, the Fund provides additional survivor benefits. In preparing a Qualified 

Domestic Relations Order, it is important to understand the survivor benefits available 

under the Fund. Accordingly, this Summary Plan Description should be reviewed in detail to determine the extent of those benefits (see Q&A entitled “What Death Benefits 

are Payable?”). If a Participant and his or her Eligible Spouse become divorced before 

the Participant’s benefit starting date, the divorced spouse loses all right to the survivor 

benefit protections that the law requires be provided to a Participant’s Eligible Spouse. 

If the divorced Participant remarries, the Participant’s new spouse may acquire a right to 

the mandated survivor benefits. A Qualified Domestic Relations Order, however, may 

change that result. To the extent that a Qualified Domestic Relations Order requires 

that a former Eligible Spouse be treated as the Participant’s Eligible Spouse for all or 

any part of the survivor benefits payable under the Fund after the death of the Participant, any subsequent spouse of the Participant cannot be treated as the Participant’s 

surviving Eligible Spouse. 

Q&A 6: WHEN CAN AN ALTERNATE PAYEE GET BENEFITS

UNDER A QUALIFIED DOMESTIC RELATIONS ORDER?

A Qualified Domestic Relations Order that provides for shared payments of benefits must specify the date on which the alternate payee will begin to share the Participant’s benefits. With respect to a separate-interest payment, a Qualified Domestic Relations Order may either specify the time at which the alternate payee will receive the 

separate interest, or assign to the alternate payee the same right the Participant would 

have under the Fund with regard to the timing of the payment. In either case, a Qualified Domestic Relations Order cannot provide that an alternate payee will receive a 

benefit earlier than the date on which the Participant reaches his or her earliest retirement age.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00719
L-1

PART L: GENERAL INFORMATION ABOUT THE FUND

SOME BASIC FACTS ABOUT THE FUND

Name and Address of the Fund The “Plasterers and Cement Masons Local 

No. 94 Pension Fund” is a collectively bargained employee pension plan governed by 

PATH Administrators, P. O. Box 6480, Harrisburg, 

PA, 17112-0480.

Employer Identification Number of Fund 23-6445411

Plan Number 001.

List of Fund Sponsors Available You may obtain a list of all employers and 

Unions who sponsor this Fund by making a written request to the Contract Administrator. There is a small charge for this service. You may also examine such a list free 

of charge at the office of the Contract Administrator during normal business hours.

Should you wish, you may make a request to the Contract Administrator in writing for information as to whether a particular employer or labor Union is a sponsor of 

this Fund and, if it is, you may obtain its address. There is no charge for this service.

Collective Bargaining Agreements that Relate to the Fund This Fund is 

maintained pursuant to collective bargaining agreements. All collective bargaining 

agreements that relate to the Fund are on file at the office of the Contract Administrator, 

and may be examined by you there during normal business hours. Upon request made 

in accordance with the procedure set by the Contract Administrator, you may examine 

the agreements at the offices of the Union. For a small charge, you may also obtain a 

copy of any collective bargaining agreement by making a written request to the Contract 

Administrator.

TYPE OF FUND

The Plasterers and Cement Masons Local No. 94 Pension Fund is a collectively 

bargained, multiemployer, defined benefit pension plan. 

TYPE OF ADMINISTRATION OF THE FUND AND AUTHORITY AND 

POWER OF THE BOARD OF TRUSTEES

Board of Trustees The administration of the Fund is in the hands of a Board of 

Trustees, composed of representatives of management and labor. 

The Board of Trustees has full and exclusive discretionary authority and power to 

construe all Fund documents; to make all decisions concerning the interpretation, appli-

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00720
L-2

cation, construction and administration of the Fund and all Fund documents; to determine all questions of eligibility for benefits, including the amount of benefits; to make final and binding decisions on all appeals; to modify, amend, discontinue or terminate 

benefits and/or coverage provided under this Fund; and to amend the terms of the Fund 

and all Fund documents. 

Only the entire Board of Trustees is authorized to interpret the Fund’s governing 

documents and exercise the discretionary authority and power described above. No 

officer, agent, or employee of the Employer or the Union, nor any other person, is authorized to speak for or on behalf of the Fund, or to commit the Board of Trustees on 

any matter relating to the Fund, or to interpret the Fund’s governing documents.

The current Board of Trustees is as follows:

Jeff Barnhart

2843 Snyder Avenue

Philadelphia, PA 19145

Contract Administrator The day-to-day administration of the Fund, however, is 

in the hands of a professional administration company called the “Contract Administrator,” or “Administrator,” to whom the Board has delegated some of its duties. The 

Contract Administrator which has been hired by the Board of Trustees is PATH Administrators. The Contract Administrator may be reached at the Fund Office at the following 

address and telephone number:

PATH Administrators

P. O. Box 6480

Harrisburg, PA 17112-0480

Phone: (717) 671-8551 or Toll Free: 1-800-636-7632

FUNDING AND CONTRIBUTIONS

You do not contribute to the Fund. Employer contributions are the only source of 

funding. These contributions are made according to the collective bargaining agreements. The assets of the Pension Fund from which benefit payments are made are 

held in trust by a corporate trustee, and by the Board of Trustees.

WHEN YOU WORK IN THE JURISDICTION OF A RECIPROCATING 

FUND

The Fund participates in reciprocal agreements with a number of other Plans. 

Whenever a Participant of this Fund works in the area of another Plan signatory to a reciprocal agreement with this Fund, that Participant’s hours may be returned to this 

Fund. These hours will enable the Participant to continue to earn credits under this 

Fund. The amount of credit will be calculated by determining the pro-rata relationship 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00721
L-3

between the total amount of employer contributions payable under the reciprocating defined benefit pension plan’s collective bargaining agreement and the amount of contributions payable under the terms of the collective bargaining agreement between the 

Union and the Association. The Participant will be credited with the amount of the calculated pro-rata Hours of Covered Employment.

Participants who work in the jurisdiction of a Plan with which this Fund has a reciprocal agreement have the duty to inform the Contract Administrator of the location 

and dates of their employment in the area of the other Plan.

If you need information as to the other Plans with which this Fund currently has 

reciprocal agreements, you should contact the Contract Administrator.

AGENT FOR SERVICE OF LEGAL PROCESS

Legal papers and process issued by a court may be served upon the Contract 

Administrator or a member of the Board of Trustees. All of these people may be served 

at the following address: 

PATH Administrators

4785 Linglestown Road, Suite 200

Harrisburg, PA 17112-8509

Phone: (717) 671-8551 or Toll Free: 1-800-636-7632

EFFECT OF AMENDMENTS TO THE FUND

The Board of Trustees has the right to amend the Fund at any time. You should 

realize that from time to time the Fund is amended in a way that may change eligibility 

rules and benefits. Before you assume that a benefit exists in the form described in this 

Summary Plan Description, please confirm the benefit with the Contract Administrator to 

make sure.

In order to be eligible for the benefits described in this Summary Plan Description, you are required to meet all the eligibility tests that exist to sustain each part of the 

benefit. 

In no event, however, will any amendment:

a. Authorize or permit any part of the Fund Assets to be used for purposes 

other than for the exclusive benefit of the participants or their beneficiaries; or

b. Cause any reduction in the amount credited to your account.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00722
L-4

SELLING, ASSIGNING OR PLEDGING BENEFITS

Benefits may not be transferred, sold, assigned or pledged as security for a loan. 

Benefits are not subject to attachment or execution for the payment of any debt under 

any judgment or decree of court or otherwise, except as provided in the Internal Revenue Code and applicable regulations. However, any benefit payments payable to an 

Alternate Payee (spouse, former spouse, child or other dependent) under an Order 

found by the Fund to be a Qualified Domestic Relations Order will be honored by the 

Fund.

TERMINATION OF THE FUND

Federal law requires us to tell you what types of events would cause the Fund to 

be terminated, and what your rights would be if such a termination were to occur. By 

the term “termination,” we mean that the Fund would cease to accept contributions. 

This does not necessarily mean that you would lose benefits, and there is no intention 

to terminate the Fund at this time.

The Board of Trustees has the right to terminate the Fund at any time. Upon 

termination, all amounts credited to your account will continue to be 100% vested.

ERISA RIGHTS OF PARTICIPANTS

As a participant in the Fund, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides 

that all Fund participants shall be entitled to:

Receive Information About Your Fund And Benefits

Examine, without charge, at the Contract Administrator’s office, all documents 

governing the Fund, including collective bargaining agreements, and a copy of the latest 

annual report (Form 5500 Series) filed by the Fund with the U.S. Department of Labor 

and available at the Public Disclosure Room of the Employee Benefits Security Administration.

Obtain, upon written request to the Contract Administrator, copies of documents 

governing the operation of the Fund, including collective bargaining agreements, and

copies of the latest annual report (Form 5500 Series) and updated Summary Plan Description. The Contract Administrator may make a reasonable charge for the copies.

Receive a summary of the Fund’s annual financial report. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00723
L-5

Prudent Actions By Fund Fiduciaries

In addition to creating rights for Fund participants ERISA imposes duties upon 

the people who are responsible for the operation of the employee benefit Plan. The 

people who operate your Fund, called “fiduciaries” of the Fund, have a duty to do so 

prudently and in the interest of you and other Fund 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.

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 relating 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 Fund documents or the latest annual report from the 

Fund and do not receive them within 30 days, you may file suit in a Federal court. In 

such a case, the court may require the Contract 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 Fund’s decision or lack 

thereof concerning the qualified status of a domestic relations order, you may file suit in 

Federal court. If it should happen that Fund fiduciaries misuse the Fund’s money, or if 

you are discriminated against for asserting your rights, you may seek assistance from 

the U.S. Department of Labor, or you may file suit in a Federal court. The court will decide who should pay court costs and legal fees. If you are successful the court may order the person you have sued to pay these costs and fees. If you lose, the court may 

order you to pay these costs and fees, for example, if it finds your claim is frivolous.

Assistance With Your Questions

If you have any questions about your Fund, you should contact the Contract 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 Contract 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 Employee Benefits Security Administration.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00724
1

APPENDIX A

In order to be eligible for one of the following rates of benefits, a Participant's 

benefits must commence after one of the following effective dates and before the next 

effective date. The benefit paid the Participant will be based on that rate in effect between the two effective dates unless there is a specific provision for a subsequent increase in the benefit rate. In the case of survivor benefits, the rate is governed by that 

rate which was effective at the time the Covered Employee's benefits commenced rather than the date on which the surviving Eligible Spouse's or Beneficiary’s benefits 

commenced.

To qualify for any of the levels of benefits set out below, a Participant must have 

actually worked in Covered Employment and accumulated the required Hours of Covered Employment between the time a new level of benefits was put into effect and the 

time a higher level of benefits was later put into effect; i.e., if a level of benefits requires 

a minimum number of Hours of Covered Employment for qualification, the Participant 

must have actually worked and earned those hours between the two dates.

1. Effective May 1, 1967, for those who accumulated 750 hours or more of 

Credited Service after May 1, 1967:

a. Normal Pension and Disability Pension, $1.34 per month per year of Credited Service with a maximum of 30 years.

2. Effective May 1, 1968, for those who accumulated 750 hours or more of 

Credited Service after May 1, 1967:

a. Normal Pension and Disability Pension, $2.26 per month per year of Credited Service with a maximum of 30 years.

3. Effective May 1, 1972, for those who accumulated 600 hours or more of 

Credited Service after May 1, 1971:

a. Normal Pension, Disability Pension and Widow's death benefit, $4.20 per 

month per year of Credited Service with a maximum of 30 years.

4. Effective May 1, 1975:

a. Normal Pension and Disability Pension, $5.86 per month per year of Credited Service with a maximum of 30 years.

b. Pensioners are to receive their pensions at the same rate.

c. Widow's death benefit, $4.20 per month per year of Credited Service with 

a maximum of 30 years.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00725
2

5. Effective May 1, 1978, for those who have accumulated 2,500 hours or 

more of Credited Service after May 1, 1976 and 500 hours or more of Credited Service 

after May 1, 1978:

a. Normal Pension and Disability Pension, $6.31 per month per year of Credited Service with a maximum of 30 years.

b. Pensioners as of May 1, 1978 are to receive their pensions at the same 

rate.

c. Widow's death benefit, $4.20 per month per year of Credited Service with 

a maximum of 30 years.

6. Effective May 1, 1979, for those who have accumulated 3,000 hours or 

more of Credited Service after May 1, 1976, 1,000 of which were accumulated after May 

1, 1977, and 500 of which were accumulated after May 1, 1978:

a. Normal Pension and Disability Pension, $9.30 per month per year of Credited Service with a maximum of 30 years.

b. Widow's death benefit, $4.65 per month per year of Credited Service with 

a maximum of 30 years.

7. Effective May 1, 1982, the amount of the monthly Employee-Only Pension 

benefits shall be the total of:

a. $9.30 for each year of Credited Service prior to April 30, 1982, and

b. $13.00 for each year of Credited Service after May 1, 1982, with a maximum of 30 years of Credited Service.

8. Effective January 1, 1984, the amount of the monthly Employee-Only 

Pension benefits shall be the total of:

a. $9.30 for each year of Credited Service prior to April 30, 1982, and

b. $18.62 for each year of Credited Service after April 30, 1982, with a maximum of 30 years of Credited Service.

9. Effective May 1, 1984, for those who work and earn 300 hours of Credited 

Service after May 1, 1984, the amount of the monthly Employee-Only Pension benefits 

shall be the total of:

a. $9.30 for each year of Credited Service prior to April 30, 1982, and

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00726
3

b. $20.85 for each year of Credited Service after April 30, 1982, with a maximum of thirty year of Credited Service.

10. Effective May 1, 1986, for those who retire after that date who work and 

earn 300 hours of Credited Service after January 1, 1986, the amount of the monthly 

Employee-Only Pension benefit shall be the total of:

a. $10.00 per month per year of Credited Service prior to May 1, 1982, and

b. $40.00 per month per year of Credited Service after April 30, 1982, with a 

maximum of 30 years of Credited Service.

11. Effective May 1, 1988, for those who retire after that date who work and 

earn 300 hours of Credited Service after January 1, 1988, the amount of the monthly 

Employee-Only Pension benefit shall be the total of:

a. $10.00 per month per year of Credited Service prior to May 1, 1982, and

b. $45.00 per month per year of Credited Service after April 30, 1982, with a 

maximum of 35 years of Credited Service.

12. Effective May 1, 1992, for those who retire after that date who work and 

earn 300 hours of Credited Service after May 1, 1991, the amount of the monthly Employee-Only Pension benefit shall be the total of:

a. $10.00 per month per year of Credited Service prior to May 1, 1982, and

b. $47.50 per month per year of Credited Service after April 30, 1982, with a 

maximum of 35 years of Credited Service.

13. Effective May 1, 1993, for those who retire after that date who work and 

earn 300 hours of Credited Service after that date, the amount of the monthly Employee

Only Pension benefit shall be the total of:

a. $10.00 per month per year of Credited Service prior to May 1, 1982, and

b. $50.00 per month per year of Credited Service after April 30, 1982, with a 

maximum of 35 years of Credited Service.

14. Effective May 1, 1994, the amount of the monthly Employee-Only Pension 

Benefit for Participants retiring after that date having earned 300 Hours of Covered Employment after May 1, 1993, shall be the total of:

a. $10.00 for each year of Credited Service prior to May 1, 1982, and 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00727
4

b. $55.00 for each year of Credited Service after April 30, 1982, with a maximum of 35 years of Credited Service.

15. Effective May 1, 1995, the amount of the monthly Employee-Only Pension 

Benefit for Participants retiring after that date having earned 300 Hours of Covered Employment after May 1, 1995, shall be the total of:

a. $10.00 for each year of Credited Service prior to May 1, 1982, and

b. $60.00 for each year of Credited Service after April 30, 1982, with a maximum of 35 years of Credited Service.

16. Effective January 1, 1998, the amount of the monthly Employee-Only 

Pension Benefit for Active Participants retiring on or after January 1, 1998, shall be the 

total of:

a. $10.00 for each year of Credited Service prior to May 1, 1982, and

b. $68.00 for each year of Credited Service after April 30, 1982.

17. Each Pensioner and beneficiary of a Pensioner who is receiving benefits 

as of March 1, 1999, shall be entitled to a one-time supplemental benefit payment of 

$350.00.

18. Effective January 1, 2000, the amount of the monthly Employee-Only 

Pension Benefit for Active Participants retiring on or after January 1, 2000, shall be the 

total of:

a. $10.00 for each year of Credited Service prior to May 1, 1982, and

b. $75.50 for each year of Credited Service after April 30, 1982.

19. Effective March 1, 2001, the amount of the monthly Employee-Only Pension Benefit for Active Participants retiring on or after May 1, 2000, shall be the total of:

a. $10.00 for each year of Credited Service prior to May 1, 1982, and

b. $77.50 for each year of Credited Service after April 30, 1982.

20. Participants who were Pensioners as of April 30, 2000, shall receive a 

benefit payment of $450.00.

21. Effective May 1, 2013, the amount of the monthly Employee-Only Pension 

Benefit for Active Participants retiring on or after May 1, 2013, shall be the total of:

a. $10.00 for each year of Credited Service prior to May 1, 1982, and

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00728
5

b. $77.50 for each year of Credited Service after April 30, 1982; and

c. $33.00 for each year of Credited Service after May 1, 2013.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00729
Plasterers and Cement Masons Local No. 94 Pension Fund

4785 Linglestown Road, Suite 200

P.O. Box 6480 Harrisburg, PA 17112-0480

TELEPHONE: 717-671-8551 or 1-800-636-7632 FAX 717-671-4937

PATH Administrators

Contract Administrator

NOTICE OF REDUCTION IN ADJUSTABLE BENEFITS UNDER SECTION 

432(e)(8)(C) OF THE INTERNAL REVENUE CODE AND NOTICE OF REDUCTION IN 

RATES OF ACCRUED BENEFITS AND FUTURE BENEFIT ACCRUALS UNDER 

SECTION 204(h) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT

INTRODUCTION

On July 27, 2010 the Plasterers and Cement Masons Local No. 94 Pension Fund (the “Fund”) 

was certified to be in Critical Status for the 2010 Plan Year. As required by the Internal Revenue 

Code (“IRC”), the Fund’s Board of Trustees adopted a Rehabilitation Plan on March 25, 2011. 

The Board of Trustees of the Fund is required to annually update the Amended Rehabilitation 

Plan. As a result of annual reviews, the Rehabilitation Plan was later amended on October 21, 

2011; February 26, 2013; November 14, 2014; and November 13, 2015. 

The Fund was again certified to be in Critical Status for the 2011, 2012, 2013 and 2014 Plan 

Years. For the 2015 and 2016 Plan Years, the Fund was certified to be in Critical and Declining 

Status.

As a result of reviewing the Fund’s Actuarial Valuation as of May 1, 2015, and taking into account that the Fund’s actuary has indicated that the Fund is expected to be certified as being Critical and Declining for the 2017 Plan Year, the Fund’s Board of Trustees is required to amend the 

Fund’s Rehabilitation Plan.

This Notice describes changes to the Fund’s Plan of Benefits and Rehabilitation Plan effective

February 1, 2017 and March 15, 2017, and is being provided to you in accordance with Sections 

305(e)(8)(C) and 204(h) of the Employee Retirement Income Security Act (“ERISA”) and IRC 

Sections 4980F and 432(e)(8)(C). This Notice also constitutes a Summary of Material Modifications under ERISA Sections 102(a) and 104(b). 

Elimination of Disability Benefits

The Disability Benefit which is described on Pages 13 and 14 of your Summary Plan Description

is being eliminated for Participants who receive a Disability Award issued by the Social Security 

Administration with an effective date on or after March 15, 2017. 

If you receive a Disability Award issued by the Social Security Administration with an effective 

date prior to March 15, 2017, you will be entitled to receive a Disability Benefit as described on 

Pages 13 and 14 of the Summary Plan Description.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00730
2

Participants who are currently receiving a Disability Benefit will not be affected by this amendment of the Fund’s Plan of Benefits.

Elimination of Death Benefits for Participants Receiving Disability Benefits

The Death Benefit which is described on Page 14 of your Summary Plan Description is being 

eliminated effective February 1, 2017, for all Participants who are receiving and will receive a 

Disability Benefit.

Elimination of Pop-Up Provision of the Husband-Wife 50%, Husband-Wife 75% and Husband-Wife 100% Forms of Pension Payments

The pop-up provision of the Husband-Wife 50%, Husband-Wife 75% and Husband-Wife 100% 

forms of Pension payments, which are described on Pages 8 and 9 of your Summary Plan Description and in Summary of Material Modifications 2008-1, are being eliminated for Participants who retire on or after March 15, 2017. 

The current description of the Husband-Wife 50%, Husband-Wife 75% and Husband-Wife 100% 

forms of Pension payments is as follows:

Husband-Wife 50% Form (automatic form for a married Participant unless you 

and your Eligible Spouse select the Employee-Only Form, the Husband-Wife 

75% Form, the Husband-Wife 100% Form, the Five-Year Guaranteed Payment 

Form, or the Ten-Year Guaranteed Payment Form) - A reduced monthly pension 

payable as long as you live, with payments continuing after your death to your Eligible Spouse for his/her lifetime equal to 50% of the amount of your monthly 

pension benefit at the time of your death. The spouse married to you on the date 

of your death must also have been married to you on the date your monthly pension started to be an Eligible Spouse. (See example in the back of this Summary 

Plan Description in the Section entitled “Value of Credited Service.”) If your Eligible Spouse dies before you, upon notice to the Contract Administrator, the 

amount of the previous actuarial reduction shall be restored.

Husband-Wife 75% Form - If you are a married Participant, you may elect a reduced monthly pension payable as long as you live with payments continuing after your death to your Eligible Spouse for his/her lifetime equal to 75% of the 

amount of your monthly pension benefit at the time of your death. All of the other requirements of the Husband-Wife 50% Form also apply to this Form. If your 

Eligible Spouse dies before you, upon notice to the Contract Administrator, the 

amount of the previous actuarial reduction shall be restored.

An Eligible Spouse is one who was married to you for the year before the day 

your pension commences or the day you die. If the Eligible Spouse was married 

to you for a full year before your pension started, the Eligible Spouse need not be 

married to you when you die. If your spouse was not married to you for a full 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00731
3

year before your pension started, but completes the year before you die, he/she is 

an Eligible Spouse. An Eligible Spouse’s eligibility may be altered by a court order known as a Qualified Domestic Relations Order. The Qualified Domestic Relations Order may provide that a former spouse is entitled to a pre-retirement survivor’s benefit. The pre-retirement survivor’s benefit will be paid according to 

the terms of the Qualified Domestic Relations Order. (See Section of this Summary Plan Description entitled “Qualified Domestic Relations Orders.”)

Husband-Wife 100% Form - If you are a married Participant, you may elect a reduced monthly pension payable as long as you live with payments continuing after your death to your Eligible Spouse for her lifetime equal to 100% of the 

amount of your monthly pension benefit at the time of your death. All of the other requirements of the Husband-Wife 50% Form also apply to this Form. If your 

Eligible Spouse dies before you, upon notice to the Contract Administrator, the 

amount of the previous actuarial reduction shall be restored.

Here is an example of the pop-up feature:

Suppose you retired at age 65 and elected to receive a monthly pension of $1,507.91, payable in 

the Husband-Wife 50% Form. If your Eligible Spouse dies before you, your monthly pension 

will increase to $1,652.50, the amount of the Employee-Only Pension that was offered to you at 

retirement. These calculations assume you and your Eligible Spouse were both age 65 at your 

retirement. The amounts in this example will vary depending on your age, your current pension 

amount, and the age of your Eligible Spouse.

Effective March 15, 2017, the language in each description which reads, “If your Eligible Spouse 

dies before you, upon notice to the Contract Administrator, the amount of the previous actuarial 

reduction shall be restored,” will be eliminated and the description of the Husband-Wife 50%, 

Husband-Wife 75% and Husband-Wife 100% forms of Pension payments will be as follows:

Husband-Wife 50% Form (automatic form for a married Participant unless you 

and your Eligible Spouse select the Employee-Only Form, the Husband-Wife 

75% Form, the Husband-Wife 100% Form, the Five-Year Guaranteed Payment 

Form, or the Ten-Year Guaranteed Payment Form) - A reduced monthly pension 

payable as long as you live, with payments continuing after your death to your Eligible Spouse for his/her lifetime equal to 50% of the amount of your monthly 

pension benefit at the time of your death. The spouse married to you on the date 

of your death must also have been married to you on the date your monthly pension started to be an Eligible Spouse. (See example in the back of this Summary 

Plan Description in the Section entitled “Value of Credited Service.”) 

Husband-Wife 75% Form - If you are a married Participant, you may elect a reduced monthly pension payable as long as you live with payments continuing after your death to your Eligible Spouse for his/her lifetime equal to 75% of the 

amount of your monthly pension benefit at the time of your death. All of the other requirements of the Husband-Wife 50% Form also apply to this Form. 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00732
4

An Eligible Spouse is one who was married to you for the year before the day 

your pension commences or the day you die. If the Eligible Spouse was married 

to you for a full year before your pension started, the Eligible Spouse need not be 

married to you when you die. If your spouse was not married to you for a full 

year before your pension started, but completes the year before you die, he/she is 

an Eligible Spouse. An Eligible Spouse’s eligibility may be altered by a court order known as a Qualified Domestic Relations Order. The Qualified Domestic Relations Order may provide that a former spouse is entitled to a pre-retirement survivor’s benefit. The pre-retirement survivor’s benefit will be paid according to 

the terms of the Qualified Domestic Relations Order. (See Section of this Summary Plan Description entitled “Qualified Domestic Relations Orders.”)

Husband-Wife 100% Form - If you are a married Participant, you may elect a reduced monthly pension payable as long as you live with payments continuing after your death to your Eligible Spouse for his/her lifetime equal to 100% of the 

amount of your monthly pension benefit at the time of your death. All of the other requirements of the Husband-Wife 50% Form also apply to this Form. 

Here is an example which reflects the elimination of the pop-up feature:

Suppose you retired at age 65 and elected to receive a monthly pension of $1,507.91, payable in 

the Husband-Wife 50% Form. If your Eligible Spouse dies before you, your monthly pension 

will continue to be $1,507.91. The amount will not increase.

INFORMATION ON PARTICIPANTS’ RIGHTS AND REMEDIES

Federal law requires that this Notice contain information as to the rights and remedies of Participants and beneficiaries. As a Fund Participant, you are entitled to certain rights and protections 

under the Employee Retirement Income Security Act of 1974 (ERISA), as amended. ERISA 

provides that all Participants have certain rights, including the following:

Receive Information about the Pension Fund and Benefits

You have the right to:

Examine, without charge, at the office of the Fund’s Contract Administrator (whose address is 

provided below), all documents governing the Fund. These include the Rehabilitation Plan and 

Schedules, previous notices issued in connection with the Rehabilitation Plan, the Plan Document and Summary Plan Description, the Annual Funding Notice, periodic actuarial reports and 

other financial information and summaries,

Collective Bargaining Agreements, any application for extension of amortization periods to the 

Secretary of Treasury and the Secretary’s determination on that application, and a copy of the 

latest annual report (Form 5500 Series) filed by the Fund with the U.S. Department of Labor and 

available at the Public Disclosure Room of the Employee Benefits Security Administration 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00733
5

(EBSA) of the U.S. Department of Labor 200 Constitution Avenue, NW, Suite N-1513, Washington, DC 20210, 202.693.8673. The Fund’s address is provided below.

Obtain, upon written request to the Board of Trustees, copies of documents governing the Fund’s 

operation. These include the Rehabilitation Plan and Schedules, all previous notices issued in 

connection with the Rehabilitation Plan, the Plan Document and Summary Plan Description, the 

Annual Funding Notice, periodic actuarial reports, and other financial reports, information and 

summaries, Collective Bargaining Agreements, the latest annual report (Form 5500 Series), any 

application for extension of amortization periods to the Secretary of Treasury and the Secretary’s 

determination on that application. There may be a reasonable charge for copies.

Receive the Annual Funding Notice. This notice provides information regarding the Fund’s 

funding levels, assets and liabilities, number of Participants and a description of the benefits eligible to be guaranteed by the Pension Benefit Guaranty Corporation and an explanation of the 

limits on the PBGC guarantee and other information.

Obtain at no charge, a statement telling you whether you have a right to receive a pension at 

Normal Retirement Age and if so, an estimate of benefits at Normal Retirement Age if you stop 

working under the Fund now. If you do not have a right to a pension, the statement will provide 

an explanation as to the determination. A written request for a statement must be made and the 

Fund need only provide one statement every 12 months.

Obtain at least once every 3 years, a pension benefit statement showing your non-forfeitable accrued benefit provided that you are employed by the employer maintaining the plan at the time 

the statement is to be furnished. You may also obtain such a statement upon written request.

For documents and statements, contact the Board of Trustees c/o PATH Administrators, P. O. 

Box 6480, Harrisburg, PA, 17112-0480; Phone: 717-671-8551, Fax: 717-671-4937, Toll Free: 1-

800-636-7632.

Prudent Actions by Plan Fiduciaries

In addition to creating rights for participants, ERISA imposes duties upon the people who are 

responsible for the operation of the Pension Fund. The people who operate your plan, called “fiduciaries,” 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.

Enforce Your Rights

If you make a claim for a pension benefit that is denied or ignored, in whole or in part, you have 

a right to know why this was done, to obtain copies of documents relating to the decision without 

charge, and to appeal any denial, all within certain time schedules.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00734
6

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of documents or the latest annual report from the Fund and do not receive them 

within 30 days, you may file suit in a federal court. In such a case, the court may require the plan 

administrator (Board of Trustees) 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 (DOL), or you may file suit in a federal 

court. If you choose to 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.

If you wish to seek assistance from the DOL, you should contact the DOL’s Employee Benefits 

Security Administration (“EBSA”), which maintains regional and district offices covering your 

state or territory. You may obtain the contact information for the closest EBSA office (or receive 

other assistance) by calling, their toll free Hotline at 1-866-444-EBSA [3272] (Text Telephone: 

1-877-889-5627). You can also obtain information on the EBSA’s website at 

www.askebsa.dol.gov. Additionally, your local telephone or government directory may list the 

EBSA office nearest to your residence. If you contact the DOL, it may be helpful if you have the 

Fund’s Employer Identification Number, 23-6445411, and its Plan Number, 001.

If you have any questions about the Fund, please contact the Board of Trustees as noted above.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5e

 Summary Plan Description

CM94:00735
Plasterers and Cement Masons

Local No. 94 Pension Fund

Rehabilitation Plan for Plan Year

Beginning May 1, 2016

Adopted by the Trustees on March 25, 2011

Amended as of October 21, 2011

Amended as of February 26, 2013

Amended as of November 14, 2014

Amended as of November 13, 2015

Amended as of February 17, 2017

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00736
1

I. BACKGROUND

The Plasterers and Cement Masons Local No. 94 Pension Fund (the Fund ) is a jointlyadministered, multiemployer defined benefit pension plan established by Local No. 592 of the 

Operative Plasterers and Cement Masons ( Local No. 592 or the Union ), and the Keystone 

Contractors Association (the Employers ). Employers also include those employers who have 

not granted their collective bargaining rights to one of the associations, but who are a party to a 

collective bargaining agreement or project labor agreement with Local No. 592. Local No. 592

and the Employers are parties to collective bargaining agreements, with the current Association 

agreements effective through April 30, 2015. Local No. 592 and the Employers are referred to 

jointly in this Plan as the Collective Bargaining Parties and the collective bargaining agreement in effect at any given time now or in the future is referred to as the CBA .

On July 27, 2010, the Fund s actuary first certified the Fund to be in Critical Status within the 

meaning of the Pension Protection Act of 2006 (the PPA ) for the Plan Year beginning on

May 1, 2010. Therefore, the Board of Trustees of the Fund was required to adopt and implement 

a Rehabilitation Plan. On March 25, 2011, the Board of Trustees adopted a Rehabilitation Plan, 

which they amended on October 21, 2011, February 26, 2013, November 14, 2014, November 

13, 2015, and February 17, 2017.

II. REHABILITATION PLAN

A Rehabilitation Plan must prescribe actions, including recommended actions to be taken by the 

bargaining parties that are expected to enable a plan to meet stated annual standards and emerge 

from critical status by the end of the Rehabilitation Period, based on reasonably anticipated experience and on reasonable actuarial assumptions. 

Under the PPA, the Rehabilitation Plan had to include one (1) or more schedules showing revised benefit structures, revised contributions, or both, which, if adopted by the Board of Trustees and agreed upon by the bargaining parties, would reasonably be expected to enable the Fund 

to emerge from Critical Status by the end of the Fund s rehabilitation period, or where that is not 

reasonable, to either emerge from Critical Status at a later time or to forestall insolvency.

In March 2011, the Board of Trustees adopted a Rehabilitation Plan that contained four schedules providing reductions in benefits, increases in contributions or both, that were reasonably expected to enable the Plan to emerge from critical status at the end of the Rehabilitation Period 

(10-year period beginning on May 1, 2011). In October 2011, the Board of Trustees amended 

the Rehabilitation Plan to include just one schedule, the Default Schedule, calling for increases in 

contributions. In February 2013, the Board of Trustees amended the Rehabilitation Plan, providing reductions in benefits. In November 2014, the Board of Trustees amended the Rehabilitation 

Plan, calling for an additional increase in contributions. In November 2015, the Board of Trustees amended the Rehabilitation Plan, calling upon the Trustees to explore certain options allowed for under the Multiemployer Pension Reform Act of 2014 (MPRA), which could enable 

the pension fund to potentially avoid future insolvency. for 

Plan Year Beginning May 1, 2016 sixth revision to the Rehabilitation Plan. It 

includes additional reductions in adjustable benefits as outlined further below.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00737
2

III. SCHEDULES

fies reductions in benefits (subject to some minimum benefits) necessary to achieve the applicable benchmarks, and includes only those contribution increases necessary, after these reductions, 

to permit the Plan to emerge from critical status on a timely basis.

The March 25, 2011 Rehabilitation Plan a Preferred schedule,

and two Alternative schedules with varying reductions in benefits and increases in contributions 

necessary to achieve the applicable benchmarks. The March 25, 2011 Rehabilitation Plan anticipated that the Fund would emerge from Critical Status within the 10 year Rehabilitation Period.

Subsequent to March 25, 2011, the Board of Trustees found that the economic conditions in the 

building and construction trades had not improved and in fact had continued to decline. In an 

effort to offset the impact of the decline in the economy and investment markets, the Board of 

Trustees, on May 31, 2011, elected to adopt certain funding relief available to the Fund under the 

Pension Relief Act of 2010. Although the relief obtained from the Pension Relief Act of 2010 

did help to improve the , this 

improvement was not sufficient to allow the Fund to be projected to emerge from Critical Status

within the 10 year Rehabilitation Period.

The Trustees decided to amend the Rehabilitation Plan on October 21, 2011, after determining 

that, based on reasonable actuarial assumptions and upon exhaustion of all reasonable measures,

it would be unreasonable to conclude that the Fund would emerge from Critical Status. The Trustees reached this conclusion after consulting with the Fund s Actuary, and taking into account 

the economic condition of the building and construction industry covered by the Fund. In reaching this conclusion, the Fund s Trustees considered the near-impossibility of emerging from Critical Status at the end of the 10-year rehabilitation period in view of the significant investment 

losses suffered by the Fund over the plan year ended on April 30, 2008. The collapse of the financial markets in 2008 resulted in the s experiencing the worst investment losses in its 50-

year history. The collapse of the building and construction industry resulted from the collapse of 

the financial markets in 2008. In addition, the magnitude of the employer contribution increases 

needed to satisfy the requirements for a 10-year rehabilitation plan would almost certainly result 

in lower negotiated wages for participants and/or decreased employer contributions to other benefit plans covering these participants (such as the plan providing their health benefit coverage). If 

participants perceive a significant decrease in value in their total overall compensation

including wages, pension benefits and health benefits the Fund s Trustees concluded that they 

would be likely to encourage their employers to withdraw from the Fund. Thus, the Fund s Trustees concluded that a further reduction in benefits would be inconsistent with the goal of presenting a viable plan with ongoing value to active participants. Such action could also lead to increased employer withdrawals or reductions in contributions, as the collective bargaining parties 

would see less benefit to ongoing participation. The objective of the October 21, 2011 Rehabilitation Plan was to delay any plan insolvency so that potential improvements in investment return 

or other material events, including further applicable legislative reforms, can provide an opportunity for the Fund to survive and continue to provide its promised benefits to its participants.

The October 21, 2011 Rehabilitation Plan eliminated all four schedules and replaced them with 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00738
3

one Default Schedule, which was designed to enable the Plan to forestall insolvency. The Default Schedule called for an increase in the contribution rate from $8.10 per hour to $9.10 per 

hour.

actuary that the Fund continued to be in Critical Status as of July 27, 2012, and having been inical Status, the Trustees decided to amend the Rehabilitation Plan effective February 26, 2013. 

The Trustees reviewed the 

ing modifications to these so as to further enable the Fund to forestall insolvency. In considering 

contribution rate increases, the Trustees concluded that it would not be realistic to increase the 

rate of contributions given the impact of the severe economic decline in the building and construction industry. The Trustees then reviewed the modification of benefits. After this review, 

the Board of Trustees concluded that, by modifying certain benefits, the Trustees would be able 

vency. By amending the monthly benefit multiplier; modifying the Early Retirement Pension 

reduction factor; and by modifying the PreCredit Balance, from the current projected levels if no action was taken by the Trustees. Nonetheles

Account Credit Balance were projected to continue to decline.

actuary that the Fund continued to be in Critical Status as of July 26, 2013 and July 28, 2014, and 

emerge from Critical Status, the Trustees decided to amend the Rehabilitation Plan effective 

May 1, 2014. In considering modification of benefits, the Trustees concluded that the reductions 

made effective May 1, 2013 continued to be appropriate and reasonable. In considering contribution rate increases, the Trustees agreed to increase the contribution rate from $9.10 per hour to 

$9.30 per hour, effective May 1, 2014, as part of the Default Schedule.

rtified on July 29, 2015 to be in Critical and Declining Status, the Trustees decided to explore whether the suspension of benefits for certain participants 

and a possible plan partition, as allowed for under MPRA, could enable the pension fund to potentially avoid future insolvency.

Critical and Declining Status, t

to advance the effort to forestal (1) to 

benefit for those with disability retirement effective dates on or 

after March 15, 2017, (2) to eliminate the post-disability-retirement death benefit for those with 

disability retirement effective dates on or after March 15, 2017, and (3) to eliminate the Pop-Up 

Provision of the Husband-Wife 50%, Husband-Wife 75% and Husband-Wife 100% forms of 

Pension payments for those with a retirement effective date on or after March 15, 2017. The 

Trustees continue to explore whether suspension of benefits for certain participants, combined 

with a possible plan partition, as allowed for under MPRA, could enable the pension fund to potentially avoid future insolvency.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00739
4

IV. OPERATION OF THE PLAN DURING THE REHABILITATION PERIOD

During the Rehabilitation Period, the Plan may not be amended in any way that: (a) is inconsistent with the Rehabilitation Plan; or (2) increases benefits, including future benefit accruals, 

unless the Fund Actuary certifies that such increase is paid for out of additional contributions not 

contemplated by the Rehabilitation Plan, and, after taking into account the benefit increase, the 

plan still is reasonably expected to emerge from critical status by the end of the rehabilitation 

period on the schedule contemplated in the Rehabilitation Plan.

V. NON-COLLECTIVELY BARGAINED PARTICIPANTS UNDER THE

REHABILITATION PLAN

In the case of an employer that contributes to the Fund on behalf of collectively bargained and 

non-collectively bargained participants, the contributions for, and the benefits provided to, the 

non-collectively bargained employees, including surcharges on those contributions, shall be determined as if those non-collectively participants were covered under such employer s first to 

expire collective bargaining agreement that was in effect when the Fund entered Critical Status.

VI. ANNUAL STANDARDS AND UPDATING REHABILITATION PLAN

Pursuant to the PPA, the Fund has adopted the following procedures:

The s actuary shall conduct an annual review of the Rehabilitation Plan, and 

The s actuary shall report to the Trustees the results of its annual review.

In consultation with the s actuary, the Trustees shall update annually, if necessary, the Rehabilitation Plan and the contribution rates to reflect the experience of the Fund.

Notwithstanding the foregoing, the contribution rates provided by the Trustees and relied upon 

by bargaining parties in negotiating a collective bargaining agreement shall remain in effect for 

the duration of that collective bargaining agreement. Collective bargaining agreements that are 

entered, renewed or extended after the date of any changes to the Rehabilitation Plan will be subject to the Rehabilitation Plan then in effect at the time of such entry, renewal or extension.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00740
5

Plasterers and Cement Masons

Local No. 94 Pension Fund

Rehabilitation Plan

Rehabilitation Schedule for Plan Year Beginning May 1, 2016

This Schedule consists of reasonable measures adopted by the Board of Trustees which, based on 

reasonable actuarial assumptions, will enable the Fund to forestall insolvency. This schedule 

provides for a combination of benefit reductions and contribution increases as follows. These 

adjustments are effective on and for the dates identified below:

Benefit Reductions:

Effective May 1, 2013, the preretirement surviving spouse's pension benefit will be reduced by 1/200th for each month that benefit commencement precedes the Participant's 

normal retirement date, and will be reduced for 50% Husband-Wife form of payment.

Previously this benefit was reduced for 50% Husband-Wife form of payment but unreduced for commencement prior to normal retirement date.

Effective May 1, 2013, the early retirement reduction is changed from 1/360th to 1/200th 

for each month that retirement precedes normal retirement date.

Effective May 1, 2013, the monthly benefit accrual rate is reduced from $77.50 per year 

of service to $33.00 per year of service.

The disability benefit is eliminated for those with a disability retirement effective date on 

or after March 15, 2017.

The post-retirement death benefit for Participants receiving a disability benefit is eliminated for those with a disability retirement effective date on or after March 15, 2017.

The Pop-Up provision of the Husband-Wife 50%, Husband-Wife 75% and HusbandWife 100% forms of Pension payments is eliminated for those with a retirement effective 

on or after March 15, 2017.

Contribution Increases:

Effective May 1, 2014, the contribution rate is increased from $9.10 per hour to $9.30 per 

hour;

No further increases beyond May 1, 2014 are anticipated

In light of the Multiemployer Pension Reform Act of 2014 (MPRA), enacted on

December 16, 2014, the Trustees have also decided to explore whether the suspension of benefits 

for certain participants and a possible plan partition, as allowed for under MPRA, could enable 

the pension fund to potentially avoid future insolvency.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00741
Plasterers and Cement Masons

Local No. 94 Pension Fund

Rehabilitation Plan for Plan Year

Beginning May 1, 2016

Adopted by the Trustees on March 25, 2011

Amended as of October 21, 2011

Amended as of February 26, 2013

Amended as of November 14, 2014

Amended as of November 13, 2015

Amended as of February 17, 2017

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00742
1

I. BACKGROUND

The Plasterers and Cement Masons Local No. 94 Pension Fund (the Fund ) is a jointlyadministered, multiemployer defined benefit pension plan established by Local No. 592 of the 

Operative Plasterers and Cement Masons ( Local No. 592 or the Union ), and the Keystone 

Contractors Association (the Employers ). Employers also include those employers who have 

not granted their collective bargaining rights to one of the associations, but who are a party to a 

collective bargaining agreement or project labor agreement with Local No. 592. Local No. 592

and the Employers are parties to collective bargaining agreements, with the current Association 

agreements effective through April 30, 2015. Local No. 592 and the Employers are referred to 

jointly in this Plan as the Collective Bargaining Parties and the collective bargaining agreement in effect at any given time now or in the future is referred to as the CBA .

On July 27, 2010, the Fund s actuary first certified the Fund to be in Critical Status within the 

meaning of the Pension Protection Act of 2006 (the PPA ) for the Plan Year beginning on

May 1, 2010. Therefore, the Board of Trustees of the Fund was required to adopt and implement 

a Rehabilitation Plan. On March 25, 2011, the Board of Trustees adopted a Rehabilitation Plan, 

which they amended on October 21, 2011, February 26, 2013, November 14, 2014, November 

13, 2015, and February 17, 2017.

II. REHABILITATION PLAN

A Rehabilitation Plan must prescribe actions, including recommended actions to be taken by the 

bargaining parties that are expected to enable a plan to meet stated annual standards and emerge 

from critical status by the end of the Rehabilitation Period, based on reasonably anticipated experience and on reasonable actuarial assumptions. 

Under the PPA, the Rehabilitation Plan had to include one (1) or more schedules showing revised benefit structures, revised contributions, or both, which, if adopted by the Board of Trustees and agreed upon by the bargaining parties, would reasonably be expected to enable the Fund 

to emerge from Critical Status by the end of the Fund s rehabilitation period, or where that is not 

reasonable, to either emerge from Critical Status at a later time or to forestall insolvency.

In March 2011, the Board of Trustees adopted a Rehabilitation Plan that contained four schedules providing reductions in benefits, increases in contributions or both, that were reasonably expected to enable the Plan to emerge from critical status at the end of the Rehabilitation Period 

(10-year period beginning on May 1, 2011). In October 2011, the Board of Trustees amended 

the Rehabilitation Plan to include just one schedule, the Default Schedule, calling for increases in 

contributions. In February 2013, the Board of Trustees amended the Rehabilitation Plan, providing reductions in benefits. In November 2014, the Board of Trustees amended the Rehabilitation 

Plan, calling for an additional increase in contributions. In November 2015, the Board of Trustees amended the Rehabilitation Plan, calling upon the Trustees to explore certain options allowed for under the Multiemployer Pension Reform Act of 2014 (MPRA), which could enable 

the pension fund to potentially avoid future insolvency. for 

Plan Year Beginning May 1, 2016 sixth revision to the Rehabilitation Plan. It 

includes additional reductions in adjustable benefits as outlined further below.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00743
2

III. SCHEDULES

fies reductions in benefits (subject to some minimum benefits) necessary to achieve the applicable benchmarks, and includes only those contribution increases necessary, after these reductions, 

to permit the Plan to emerge from critical status on a timely basis.

The March 25, 2011 Rehabilitation Plan a Preferred schedule,

and two Alternative schedules with varying reductions in benefits and increases in contributions 

necessary to achieve the applicable benchmarks. The March 25, 2011 Rehabilitation Plan anticipated that the Fund would emerge from Critical Status within the 10 year Rehabilitation Period.

Subsequent to March 25, 2011, the Board of Trustees found that the economic conditions in the 

building and construction trades had not improved and in fact had continued to decline. In an 

effort to offset the impact of the decline in the economy and investment markets, the Board of 

Trustees, on May 31, 2011, elected to adopt certain funding relief available to the Fund under the 

Pension Relief Act of 2010. Although the relief obtained from the Pension Relief Act of 2010 

did help to improve the , this 

improvement was not sufficient to allow the Fund to be projected to emerge from Critical Status

within the 10 year Rehabilitation Period.

The Trustees decided to amend the Rehabilitation Plan on October 21, 2011, after determining 

that, based on reasonable actuarial assumptions and upon exhaustion of all reasonable measures,

it would be unreasonable to conclude that the Fund would emerge from Critical Status. The Trustees reached this conclusion after consulting with the Fund s Actuary, and taking into account 

the economic condition of the building and construction industry covered by the Fund. In reaching this conclusion, the Fund s Trustees considered the near-impossibility of emerging from Critical Status at the end of the 10-year rehabilitation period in view of the significant investment 

losses suffered by the Fund over the plan year ended on April 30, 2008. The collapse of the financial markets in 2008 resulted in the s experiencing the worst investment losses in its 50-

year history. The collapse of the building and construction industry resulted from the collapse of 

the financial markets in 2008. In addition, the magnitude of the employer contribution increases 

needed to satisfy the requirements for a 10-year rehabilitation plan would almost certainly result 

in lower negotiated wages for participants and/or decreased employer contributions to other benefit plans covering these participants (such as the plan providing their health benefit coverage). If 

participants perceive a significant decrease in value in their total overall compensation

including wages, pension benefits and health benefits the Fund s Trustees concluded that they 

would be likely to encourage their employers to withdraw from the Fund. Thus, the Fund s Trustees concluded that a further reduction in benefits would be inconsistent with the goal of presenting a viable plan with ongoing value to active participants. Such action could also lead to increased employer withdrawals or reductions in contributions, as the collective bargaining parties 

would see less benefit to ongoing participation. The objective of the October 21, 2011 Rehabilitation Plan was to delay any plan insolvency so that potential improvements in investment return 

or other material events, including further applicable legislative reforms, can provide an opportunity for the Fund to survive and continue to provide its promised benefits to its participants.

The October 21, 2011 Rehabilitation Plan eliminated all four schedules and replaced them with 

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00744
3

one Default Schedule, which was designed to enable the Plan to forestall insolvency. The Default Schedule called for an increase in the contribution rate from $8.10 per hour to $9.10 per 

hour.

actuary that the Fund continued to be in Critical Status as of July 27, 2012, and having been inical Status, the Trustees decided to amend the Rehabilitation Plan effective February 26, 2013. 

The Trustees reviewed the 

ing modifications to these so as to further enable the Fund to forestall insolvency. In considering 

contribution rate increases, the Trustees concluded that it would not be realistic to increase the 

rate of contributions given the impact of the severe economic decline in the building and construction industry. The Trustees then reviewed the modification of benefits. After this review, 

the Board of Trustees concluded that, by modifying certain benefits, the Trustees would be able 

vency. By amending the monthly benefit multiplier; modifying the Early Retirement Pension 

reduction factor; and by modifying the PreCredit Balance, from the current projected levels if no action was taken by the Trustees. Nonetheles

Account Credit Balance were projected to continue to decline.

actuary that the Fund continued to be in Critical Status as of July 26, 2013 and July 28, 2014, and 

emerge from Critical Status, the Trustees decided to amend the Rehabilitation Plan effective 

May 1, 2014. In considering modification of benefits, the Trustees concluded that the reductions 

made effective May 1, 2013 continued to be appropriate and reasonable. In considering contribution rate increases, the Trustees agreed to increase the contribution rate from $9.10 per hour to 

$9.30 per hour, effective May 1, 2014, as part of the Default Schedule.

rtified on July 29, 2015 to be in Critical and Declining Status, the Trustees decided to explore whether the suspension of benefits for certain participants 

and a possible plan partition, as allowed for under MPRA, could enable the pension fund to potentially avoid future insolvency.

Critical and Declining Status, t

to advance the effort to forestal (1) to 

benefit for those with disability retirement effective dates on or 

after March 15, 2017, (2) to eliminate the post-disability-retirement death benefit for those with 

disability retirement effective dates on or after March 15, 2017, and (3) to eliminate the Pop-Up 

Provision of the Husband-Wife 50%, Husband-Wife 75% and Husband-Wife 100% forms of 

Pension payments for those with a retirement effective date on or after March 15, 2017. The 

Trustees continue to explore whether suspension of benefits for certain participants, combined 

with a possible plan partition, as allowed for under MPRA, could enable the pension fund to potentially avoid future insolvency.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00745
4

IV. OPERATION OF THE PLAN DURING THE REHABILITATION PERIOD

During the Rehabilitation Period, the Plan may not be amended in any way that: (a) is inconsistent with the Rehabilitation Plan; or (2) increases benefits, including future benefit accruals, 

unless the Fund Actuary certifies that such increase is paid for out of additional contributions not 

contemplated by the Rehabilitation Plan, and, after taking into account the benefit increase, the 

plan still is reasonably expected to emerge from critical status by the end of the rehabilitation 

period on the schedule contemplated in the Rehabilitation Plan.

V. NON-COLLECTIVELY BARGAINED PARTICIPANTS UNDER THE

REHABILITATION PLAN

In the case of an employer that contributes to the Fund on behalf of collectively bargained and 

non-collectively bargained participants, the contributions for, and the benefits provided to, the 

non-collectively bargained employees, including surcharges on those contributions, shall be determined as if those non-collectively participants were covered under such employer s first to 

expire collective bargaining agreement that was in effect when the Fund entered Critical Status.

VI. ANNUAL STANDARDS AND UPDATING REHABILITATION PLAN

Pursuant to the PPA, the Fund has adopted the following procedures:

The s actuary shall conduct an annual review of the Rehabilitation Plan, and 

The s actuary shall report to the Trustees the results of its annual review.

In consultation with the s actuary, the Trustees shall update annually, if necessary, the Rehabilitation Plan and the contribution rates to reflect the experience of the Fund.

Notwithstanding the foregoing, the contribution rates provided by the Trustees and relied upon 

by bargaining parties in negotiating a collective bargaining agreement shall remain in effect for 

the duration of that collective bargaining agreement. Collective bargaining agreements that are 

entered, renewed or extended after the date of any changes to the Rehabilitation Plan will be subject to the Rehabilitation Plan then in effect at the time of such entry, renewal or extension.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00746
5

Plasterers and Cement Masons

Local No. 94 Pension Fund

Rehabilitation Plan

Rehabilitation Schedule for Plan Year Beginning May 1, 2016

This Schedule consists of reasonable measures adopted by the Board of Trustees which, based on 

reasonable actuarial assumptions, will enable the Fund to forestall insolvency. This schedule 

provides for a combination of benefit reductions and contribution increases as follows. These 

adjustments are effective on and for the dates identified below:

Benefit Reductions:

Effective May 1, 2013, the preretirement surviving spouse's pension benefit will be reduced by 1/200th for each month that benefit commencement precedes the Participant's 

normal retirement date, and will be reduced for 50% Husband-Wife form of payment.

Previously this benefit was reduced for 50% Husband-Wife form of payment but unreduced for commencement prior to normal retirement date.

Effective May 1, 2013, the early retirement reduction is changed from 1/360th to 1/200th 

for each month that retirement precedes normal retirement date.

Effective May 1, 2013, the monthly benefit accrual rate is reduced from $77.50 per year 

of service to $33.00 per year of service.

The disability benefit is eliminated for those with a disability retirement effective date on 

or after March 15, 2017.

The post-retirement death benefit for Participants receiving a disability benefit is eliminated for those with a disability retirement effective date on or after March 15, 2017.

The Pop-Up provision of the Husband-Wife 50%, Husband-Wife 75% and HusbandWife 100% forms of Pension payments is eliminated for those with a retirement effective 

on or after March 15, 2017.

Contribution Increases:

Effective May 1, 2014, the contribution rate is increased from $9.10 per hour to $9.30 per 

hour;

No further increases beyond May 1, 2014 are anticipated

In light of the Multiemployer Pension Reform Act of 2014 (MPRA), enacted on

December 16, 2014, the Trustees have also decided to explore whether the suspension of benefits 

for certain participants and a possible plan partition, as allowed for under MPRA, could enable 

the pension fund to potentially avoid future insolvency.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5f

 Rehabilitation Plan

CM94:00747
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5g

 Determination Letter

CM94:00748
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5g

 Determination Letter

CM94:00749
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5g

 Determination Letter

CM94:00750








Schedule C (Form 5500) 2016 Page 2-

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation 

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation 

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

(b) Enter name and EIN or address of person who provided you disclosures on eligible indirect compensation

1

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00759
Schedule C (Form 5500) 2016 Page 3 -

2. Information on Other Service Providers Receiving Direct or Indirect Compensation. Except for those persons for whom you 

e in total compensation 

(i.e., money or anything else of value) in connection with services rendered to the plan or their position with the plan during the plan year. (See instructions).

(a) Enter name and EIN or address (see instructions)

(b)

Service 

Code(s)

(c)

Relationship to 

employer, employee 

organization, or 

person known to be 

a party-in-interest

(d)

Enter direct 

compensation paid 

by the plan. If none, 

enter -0-.

(e)

Did service provider 

receive indirect 

compensation? (sources 

other than plan or plan 

sponsor)

(f)

Did indirect compensation 

include eligible indirect 

compensation, for which the 

plan received the required 

disclosures?

(g)

Enter total indirect 

compensation received by 

service provider excluding 

eligible indirect 

compensation for which you 

(f). If none, enter -0-.

(h)

Did the service 

provider give you a 

formula instead of 

an amount or 

estimated amount?

Yes No Yes No Yes No 

(a) Enter name and EIN or address (see instructions)

(b)

Service

Code(s)

(c)

Relationship to 

employer, employee 

organization, or 

person known to be 

a party-in-interest

(d)

Enter direct 

compensation paid 

by the plan. If none, 

enter -0-.

(e)

Did service provider 

receive indirect 

compensation? (sources 

other than plan or plan 

sponsor)

(f)

Did indirect compensation 

include eligible indirect 

compensation, for which the 

plan received the required 

disclosures?

(g)

Enter total indirect 

compensation received by 

service provider excluding 

eligible indirect 

compensation for which you 

(f). If none, enter -0-.

(h)

Did the service 

provider give you a 

formula instead of 

an amount or 

estimated amount?

Yes No Yes No Yes No 

(a) Enter name and EIN or address (see instructions)

(b)

Service 

Code(s)

(c)

Relationship to 

employer, employee 

organization, or 

person known to be 

a party-in-interest

(d)

Enter direct 

compensation paid 

by the plan. If none, 

enter -0-.

(e)

Did service provider 

receive indirect 

compensation? (sources 

other than plan or plan 

sponsor)

(f)

Did indirect compensation 

include eligible indirect 

compensation, for which the 

plan received the required 

disclosures?

(g)

Enter total indirect 

compensation received by 

service provider excluding 

eligible indirect 

compensation for which you 

(f). If none, enter -0-.

(h)

Did the service 

provider give you a 

formula instead of 

an amount or 

estimated amount?

Yes No Yes No Yes No 

11 50

10 50

29 50

CHARLES W. JOHNSTON, P.C.

61-1436956

NONE

NONE

23-2077724

NONE

23-3003373

X

1

X

X

THE MCKEOGH CO.

NOVAK FRANCELLA, LLC

10841

18302

19811

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00760
Schedule C (Form 5500) 2016 Page 3 -

2. Information on Other Service Providers Receiving Direct or Indirect Compensation. Except for those persons for whom you 

e in total compensation 

(i.e., money or anything else of value) in connection with services rendered to the plan or their position with the plan during the plan year. (See instructions).

(a) Enter name and EIN or address (see instructions)

(b)

Service 

Code(s)

(c)

Relationship to 

employer, employee 

organization, or 

person known to be 

a party-in-interest

(d)

Enter direct 

compensation paid 

by the plan. If none, 

enter -0-.

(e)

Did service provider 

receive indirect 

compensation? (sources 

other than plan or plan 

sponsor)

(f)

Did indirect compensation 

include eligible indirect 

compensation, for which the 

plan received the required 

disclosures?

(g)

Enter total indirect 

compensation received by 

service provider excluding 

eligible indirect 

compensation for which you 

(f). If none, enter -0-.

(h)

Did the service 

provider give you a 

formula instead of 

an amount or 

estimated amount?

Yes No Yes No Yes No 

(a) Enter name and EIN or address (see instructions)

(b)

Service

Code(s)

(c)

Relationship to 

employer, employee 

organization, or 

person known to be 

a party-in-interest

(d)

Enter direct 

compensation paid 

by the plan. If none, 

enter -0-.

(e)

Did service provider 

receive indirect 

compensation? (sources 

other than plan or plan 

sponsor)

(f)

Did indirect compensation 

include eligible indirect 

compensation, for which the 

plan received the required 

disclosures?

(g)

Enter total indirect 

compensation received by 

service provider excluding 

eligible indirect 

compensation for which you 

(f). If none, enter -0-.

(h)

Did the service 

provider give you a 

formula instead of 

an amount or 

estimated amount?

Yes No Yes No Yes No 

(a) Enter name and EIN or address (see instructions)

(b)

Service 

Code(s)

(c)

Relationship to 

employer, employee 

organization, or 

person known to be 

a party-in-interest

(d)

Enter direct 

compensation paid 

by the plan. If none, 

enter -0-.

(e)

Did service provider 

receive indirect 

compensation? (sources 

other than plan or plan 

sponsor)

(f)

Did indirect compensation 

include eligible indirect 

compensation, for which the 

plan received the required 

disclosures?

(g)

Enter total indirect 

compensation received by 

service provider excluding 

eligible indirect 

compensation for which you 

(f). If none, enter -0-.

(h)

Did the service 

provider give you a 

formula instead of 

an amount or 

estimated amount?

Yes No Yes No Yes No 

13 50

28 51

23-3087064

NONE

NONE

46-1226464

X

2

X

D H EVANS & ASSOCIATES DBA PATH ADM

PFM GROUP

9524

9810

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00761










PLASTERERS AND CEMENT MASONS 

LOCAL NO. 94 PENSION FUND

FINANCIAL STATEMENTS

APRIL 30, 2017

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00772
PLASTERERS AND CEMENT MASONS

LOCAL NO. 94 PENSION FUND

FINANCIAL STATEMENTS WITH SUPPLEMENTAL INFORMATION

APRIL 30, 2017 AND 2016

CONTENTS

PAGE

Independent Auditor s Report 1

Statements of Net Assets Available for Benefits 3

Statements of Changes in Net Assets Available for Benefits 4

Notes to Financial Statements 5

Supplemental Information

Schedules of Administrative Expenses 14

Schedules of Employer Contributions 15

Schedule of Assets Held for Investment Purposes 16

Schedule of Reportable (5%) Transactions 17

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00773
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00774



- 5 -

PLASTERERS AND CEMENT MASONS

LOCAL NO. 94 PENSION FUND

NOTES TO FINANCIAL STATEMENTS

APRIL 30, 2017 AND 2016

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Method of Accounting - The financial statements are prepared using the accrual basis of 

accounting.

Investments - The mutual funds and money market mutual fund are carried at fair value as 

provided by the investment custodian which generally represents the net asset value of the mutual 

funds as of the last business day of the year.

Contributions Receivable - Contractor contributions due and not paid prior to the year end are 

recorded as contributions receivable. Allowance for uncollectible accounts is considered 

unnecessary and is not provided.

Reciprocal Contributions Receivable and Transfers Payable - Reciprocal contributions 

represent payments made to or payments received from other local pension funds for work 

Actuarial Present Value of Accumulated Plan Benefits - Accumulated plan benefits are those 

future periodic payments, including lump-sum distributions, that

provisions to the service which employees have rendered. Accumulated plan benefits include 

benefits expected to be paid to (a) retired or terminated employees or their beneficiaries, (b) 

beneficiaries of employees who have died, and (c) present employees or their beneficiaries.

Estimates - The preparation of financial statements in conformity with accounting principles 

generally accepted in the United States of America requires management to make estimates and 

assumptions that affect certain reported amounts and disclosures in the financial statements. 

Actual results could differ from those estimates.

Payment of Benefits - Benefit payments to participants are recorded upon distribution.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00778
- 6 -

NOTE 2. DESCRIPTION OF PLAN

The following brief description of the Plasterers and Cement Masons Local No. 94 Pension Fund 

(the Plan) is provided for general informational purposes only.

The Plan is a multiemployer defined benefit pension plan covering members of the Union 

representing the participants covered by the Plasterers and Cement Masons Local No. 94 Pension 

Fund and all employees whose employment is in a capacity which provides for contributions to 

the Trust of the Plan. It is subject to the provisions of the Employee Retirement Income Security 

Act of 1974 (ERISA), as amended.

The Plan was established in May 1967 as a result of collective bargaining to provide retirement 

benefits for eligible members.

main provisions follows:

Normal Retirement Pension Benefits: An eligible participant who has attained age 65, who has 

five (5) or more credited vesting service years, and who made written application for a normal 

retirement pension is entitled to receive a monthly normal retirement pension benefit equal to 

$10.00 multiplied by the number of years of credited service before May 1, 1982, $77.50 

multiplied by the number of years of credited service after May 1, 1982 but before May 1, 2013, 

and $33.00 multiplied by the number of years of credited service after May 1, 2013. The 

participant may take an election from various optional forms of benefits and duration of benefits 

as provided for in the plan of benefits.

Early Retirement Pension benefits: An eligible participant who has attained age 55, who has 

fifteen (15) or more years of credited service, and who has made written application for an early 

retirement pension is entitled to early retirement pension benefits at a reduced monthly benefit.

Disability Pension Benefits: A disabled participant who is totally and permanently disabled, 

whose disability has continued for six months and the disability is expected to last at least twelve 

months or result in death, who has completed five or more years of credited service, and who has 

made written application for disability pension is entitled to disability pension benefits. Effective 

March 15, 2017, this benefit is no longer available to participants.

Pre-retirement Death Benefits - Participant not Eligible for Normal Retirement: If a participant 

dies after completing five vesting service years or five years of benefit service, his or her spouse 

will receive a death benefit in the form of a monthly pension equal to 50% of the amount the 

participant would have received under normal retirement provisions. The payments would 

continue as long as the spouse lives.

Pre-retirement Death Benefits - Participant Eligible for Normal Retirement: If a participant dies 

after becoming eligible for normal retirement, his or her spouse will receive a benefit in the form 

of a monthly pension equal to 50% of the amount the participant would have received had he or 

she retired on the day prior to his or her death on a husband-wife pension. The payments would 

continue as long as the spouse lives.

Participants should refer to the summary plan description for more complete information.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00779
- 7 -

NOTE 3. PRIORITIES UPON TERMINATION

It is the intent of the Trustees to continue the Plan in full force and effect; however, the right to 

discontinue the Plan is reserved to the Trustees. Termination shall not permit any part of Plan 

assets to be used for or diverted to purposes other than the exclusive benefit of the pensioners, 

beneficiaries, and participants. In the event of termination, the net assets of the Plan will be 

allocated to pay benefits in priorities as prescribed by ERISA and its related regulations. 

Whether or not a particular participant will receive full benefits should the Plan terminate at 

priority of those benefits.

In addition, certain benefits under the Plan are insured by the Pension Benefit Guaranty 

Corporation (PBGC) if the Plan terminates. Generally, the PBGC guarantees most vested normal 

The PBGC does not guarantee all types of bene

benefit protection is subject to certain limitations, particularly with respect to benefit increases as 

a result of plan amendments in effect for less than five years. Some benefits may be fully or 

partially provided for, while other benefits may not be provided at all.

NOTE 4. TAX STATUS

The Plan obtained its latest determination letter on September 2, 2015, in which the Internal 

Revenue Service stated that the Plan, as then designed, was in compliance with the applicable 

requirements under Section 401(a) of the Internal Revenue Code and was, therefore, exempt 

from Federal income taxes under the provision of Section 501(a). The Plan has been amended 

since receiving the determination letter; however, t

counsel believe that the Plan is currently designed and being operated in compliance with the 

applicable requirements of the Internal Revenue Code.

Accounting principles generally accepted in the United States of America require Plan 

management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan 

has taken an uncertain position that, more likely than not, would not be sustained upon 

examination by U.S. Federal, state or local taxing authorities. The Plan is subject to routine 

audits by taxing jurisdictions; however, there are currently no audits for any tax periods in 

progress. Typically, plan tax years will remain open for three years; however, this may differ 

depending on the circumstances of the plan. 

NOTE 5. FUNDING POLICY

The Plan is funded by contributions determined, from time to time, under a collective bargaining 

agreement between the union and the employers. The collective bargaining agreement requires 

contributions to the Plan at fixed rates per hour for wages paid.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00780


- 10 -

NOTE 6. ACTUARIAL INFORMATION (continued)

Retirement: Rates of retirement for participants eligible 

to retire

Age 55-61 - 5%

Age 62 - 50%

Age 63 - 20%

Age 64 - 20%

Age 65+ - 100%

The above actuarial assumptions are based on the presumption that the Plan will continue. Were 

the Plan to terminate, different actuarial assumptions and other factors might be applicable in 

determining actuarial results. Pension benefits in excess of the present assets of the Plan are 

dependent upon contributions received under collective bargaining agreements with employers 

and income from investments.

There were three changes in the actuarial basis from the prior year:

3.37% to 3.22%.

The prescribed interest rate for valuation purposes was changed from 7.50% to 7.00%. 

from the RP-2000 Table for 2015 valuation dates to the RP-2000 Table for 2016 valuation 

dates, with combined rates for annuitants and non-annuitants.

Assumed retirement age for termination vested participants was changed from age 64 to age 

65.

Beginning with the May 1, 2016 valuation, the actuarial cost method was changed from the 

Attained Age Normal to Traditional Unit Credit.

The healthy lives mortality assumption was changed from the RP-2000 Blue Collar Table, 

projected to 2011 with Scale AA to the RP-2014 Blue Collar Table projected generationally with 

MP-2016 improvement scale starting from 2014.

Since information on the actuarial present value of accumulated plan benefits as of April 30, 

2017, and the changes therein for the year then ended are not included above, these financial 

statements do not purport to present a complete presentation of the financial status of the Plan as 

of April 30, 2017 and the changes in its financial status for the year then ended, but a 

presentation of the net assets available for benefits and the changes therein as of and for the year 

ended April 30, 2017. The complete financial status is presented as of April 30, 2016.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00783
- 11 -

NOTE 6. ACTUARIAL INFORMATION (continued)

Under the Pension Protection Act of 2006, the Plan is required to provide an actuarial 

certification as to its funded status. As of May 1, 2010, the actuary reported that the Plan is in 

critical status and the Plan will develop a Rehabilitation Plan. On March 25, 2011, a 

Rehabilitation Plan was adopted by the Board of Trustees. The Rehabilitation Plan was amended 

on October 21, 2011, again on February 26, 2013, on November 14, 2014, November 13, 2015,

February 17, 2017 and August 18, 2017 and the Trustees concluded that the Fund cannot 

reasonably be expected to emerge from critical status by the end of the rehabilitation period. The

Rehabilitation Plan sets forth revised contribution and benefit structures. As of July 28, 2017, 

the date of the most recent Actuarial Certification, the Plan is in critical and declining status.

NOTE 7. FAIR VALUE MEASUREMENTS

The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs 

to valuation techniques used to measure fair value. The hierarchy gives the highest priority to 

unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the 

lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are 

described as follows: 

Basis of Fair Value Measurement:

Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for 

identical assets or liabilities in active markets that the Plan has the ability to 

access.

Level 2 - Inputs to the valuation methodology include: quoted prices for 

similar assets or liabilities in active markets; quoted prices for identical or 

similar assets or liabilities in inactive markets; inputs other than quoted prices 

that are observable for the asset or liability; inputs that are derived principally 

from or corroborated by observable market data by correlation or other means. 

If the asset or liability has a specified (contractual) term, the level 2 input must 

be observable for substantially the full term of the asset or liability.

Level 3 - Inputs to the valuation methodology are unobservable and significant 

to the fair value measurement. 

The asse

the lowest level of any input that is significant to the fair value measurement. Valuation 

techniques maximize the use of relevant observable inputs and minimize the use of unobservable 

inputs.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00784
- 12 -

NOTE 7. FAIR VALUE MEASUREMENTS (continued)

The availability of observable market data is monitored to assess the appropriate classification of 

financial instruments within the fair value hierarchy. Changes in economic conditions or modelbased valuation techniques may require the transfer of financial instruments from one fair value 

level to another. In such instances, the transfer is reported at the beginning of the reporting 

period.

For the years ended April 30, 2017, and 2016 there were no transfers in or out of levels 1, 2, or 3.

NOTE 8. RISKS AND UNCERTAINTIES

The Plan invests in various investments. Investments are exposed to various risks such as 

interest rate, market, sector and credit risks. Due to the level of risk associated with certain 

investments, it is at least reasonably possible that changes in the values of investments will occur 

in the near term and that such changes could materially affect the amounts reported in the 

Statements of Net Assets Available for Benefits.

The actuarial present value of accumulated plan benefits is reported based on certain assumptions 

pertaining to interest rates, inflation rates, and participant demographics, all of which are subject 

to change. Due to uncertainties inherent in the estimations and assumptions process, it is at least 

reasonably possible that changes in these estimates and assumptions in the near term would be 

material to the financial statement disclosures.

NOTE 9. SIGNIFICANT EMPLOYERS

Three employers contributed approximately 49%, 22% and 21% of total employer and reciprocal 

contributions for the year ended April 30, 2017. Two employers contributed approximately 46% 

and 34% of total employer and reciprocal contributions for the year ended April 30, 2016.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00785
- 13 -

NOTE 10. SUBSEQUENT EVENTS

The Plan has evaluated subsequent events through January 2, 2018, the date the financial 

statements were available to be issued, and they have been evaluated in accordance with relevant 

accounting standards.

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00786
SUPPLEMENTAL INFORMATION

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00787









THE FINANCIAL STATEMENTS WILL BE PLACED IN THE 

ATTACHMENT FOR THE ACCOUNTANT’S OPINION

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00797
SEE ACCOUNTANT’S OPINION FOR SCHEDULE

OF ASSETS HELD

 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00798


 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00801
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00802
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00803


 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00806
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00807
 APPLICATION FOR A PARTITION ORDER FOR

 PLASTERERS & CEMENT MASONS LOCAL NO. 94 PENSION FUND

 EIN/PN: 23-6445411 / 001

 Exhibit 5h

 Government Filings

CM94:00808