DB1/ 72954048.23

SUMMARY PLAN DESCRIPTION

OF THE

NEW YORK STATE TEAMSTERS CONFERENCE

PENSION AND RETIREMENT FUND
DB1/ 72954048.23 1

MESSAGE FROM THE BOARD OF TRUSTEES

NEW YORK STATE TEAMSTERS CONFERENCE PENSION AND

RETIREMENT FUND

Dear Participant:

We are pleased to provide you with this updated Summary Plan Description (“SPD”) describing the benefits

available to you under the New York State Teamsters Conference Pension and Retirement Fund (referred to

in this booklet as the “Plan”). We urge you to read this SPD carefully so that you will understand the Plan.

In accordance with federal law, in 2010 the Plan’s actuary first certified that the Plan was in “critical status.”

As a result, and as required under ERISA, in 2010 the Plan’s Board of Trustees (the “Trustees”) adopted a

Rehabilitation Plan, which is a combination of benefit reductions and contribution increases, in order to

enable the Plan to emerge from critical status within a 10-year rehabilitation period, or where that is not

reasonable, to emerge from critical status at a later time or to forestall possible insolvency. The Trustees

have updated the Rehabilitation Plan since that time as required by law. Details of how the Rehabilitation

Plan affects your benefits are discussed in this SPD.

The Trustees have the discretionary authority to determine eligibility for benefits and to construe and

interpret the terms of the Plan. Only the Trustees are authorized to interpret the Plan’s rules and regulations;

no representative of any employer or union has authority to speak on behalf of the Trustees.

When preparing the SPD, we have done our best to translate the plan document from legal, technical

language to plain, everyday English, and to explain the Plan in a manner that can be readily understood.

However, the SPD is not a substitute for the official plan document. The plan document, and the Trustees’

interpretation of its rules and regulations, will always govern if there are inconsistencies between the SPD

and the plan document. You may request a copy of the plan document by submitting a written request to the

Fund Office at Northern Concourse, Syracuse, NY.

As always, the Fund Office will be happy to explain, at any time, any questions you may have about any

aspect of your benefits and rights under the Plan.

The Board of Trustees

Labor Trustees Employer Trustees

John Bulgaro Michael S. Scalzo, Sr.

Brian K. Hammond Robert Schaeffer

Mark D. May Daniel W. Schmidt

Tom J. Ventura
DB1/ 72954048.23

TABLE OF CONTENTS

Page

i

INTRODUCTION ............................................................................................................................ 12

GENERAL INFORMATION........................................................................................................... 13

HOW DO I BECOME A PLAN PARTICIPANT? .......................................................................... 14

When does my participation in the Plan begin?.................................................................... 14

What if I was a participant in a plan that merged into this Plan? ......................................... 14

When does my participation in the Plan end?....................................................................... 14

What if I am re-employed after my participation in the Plan has ended?............................. 14

HOW DO I EARN A PENSION? .................................................................................................... 16

What is Past Service Credit?................................................................................................. 16

How do I earn Past Service Credit? ............................................................................. 16

What other requirements do I need to meet to earn Past Service Credit?.................... 16

What is the maximum Past Service Credit I can earn?................................................ 17

Can I earn Past Service Credit with more than one employer? ................................... 17

If my former employer was acquired by a Contributing Employer, do I get Past

Service Credit for my time spent with my former employer? ......................... 17

What happens if my employer stops making contributions? ....................................... 17

What is Future Service Credit?............................................................................................. 17

How do I earn Future Service Credit? ......................................................................... 18

If I earn more than 1,000 hours in one Plan Year, will my additional hours be

carried over into the following year? ............................................................... 18

Do I earn credit if I am a union member but not an employee of a Contributing

Employer? ........................................................................................................ 18

Do I earn credit if I am an employee of a Contributing Employer for whom

contributions are not required? ........................................................................ 19

Do I earn credit if I participated in a plan that merged into the Plan?......................... 19

When will I become vested in my benefits under the Plan?................................................. 19

What is a Break in Service? .................................................................................................. 19

What happens if my service is interrupted?.......................................................................... 19

What happens if I take maternity or paternity leave? ........................................................... 20

What happens if I take military leave? ................................................................................. 20

What happens if I become disabled? .................................................................................... 20

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED BY THE PLAN? ............... 21

Pension Benefits.................................................................................................................... 21
DB1/ 72954048.23

TABLE OF CONTENTS

Page

ii

WHEN ARE PENSION BENEFITS PAID?.................................................................................... 22

How do I apply for benefits? ................................................................................................ 22

When should I apply for benefits?........................................................................................ 22

How will my pension be delayed by additional contributions my employer must make for

vacation and sick days?............................................................................................. 22

What if I believe that my hours were not properly reported? ............................................... 23

What happens if my requested benefits are denied?............................................................. 23

Can I appeal a denial of benefits? ......................................................................................... 23

WHAT IS A SUPPLEMENTAL SOCIAL SECURITY BENEFIT?............................................... 25

How much is the Supplemental Benefit?.............................................................................. 25

How long will I receive the monthly payment?.................................................................... 25

Can I receive the Supplemental Benefit in the form of a lump sum? ................................... 27

WHAT HAPPENS IF I WORK AFTER RETIREMENT?.............................................................. 28

If you are not yet age 65 ....................................................................................................... 28

If you are age 65 or older...................................................................................................... 28

Where is the Plan’s geographic area? ................................................................................... 29

Am I required to notify the Plan about other employment? ................................................. 29

What happens if I do not notify the Fund Office about returning to or continuing work?... 30

When will my pension resume?............................................................................................ 30

Can I find out in advance whether or not my benefits will be suspended? .......................... 30

What happens if I disagree with the decision to suspend benefits?...................................... 30

WHAT HAPPENS IF I DIE BEFORE I RETIRE?.......................................................................... 31

RECIPROCAL PENSIONS.............................................................................................................. 32

What is a Reciprocal Pension?.............................................................................................. 32

When is my service under other plans recognized under this Plan?..................................... 32

How does the Plan determine whether I am eligible for a Reciprocal Pension? .................. 32

How does the Plan determine which Reciprocal Pension I can choose?.............................. 32

How is the amount of my Reciprocal Pension determined? ................................................. 32

WHAT ELSE DO I NEED TO KNOW ABOUT MY PLAN? ........................................................ 34

Must my pension be deposited directly into my bank account? ........................................... 34

Can I assign my pension to my creditors? ............................................................................ 34

What happens to my pension if I get a divorce or am legally separated?............................. 34

How will payments be made to me under the Plan if I am unable to care for myself? ........ 34
DB1/ 72954048.23

TABLE OF CONTENTS

Page

iii

How is my pension taxed? .................................................................................................... 34

Do I have to repay amounts paid to me or a third party by mistake? ................................... 35

REHABILITATION PLAN SCHEDULES ..................................................................................... 36

When does a particular Rehabilitation Plan Schedule apply to me? .................................... 36

What if my Employer incurs a Rehabilitation Plan Withdrawal on or after June 1, 2012?.. 36

How Can My Adjustable Benefits Be Restored Following a Rehabilitation Plan

Withdrawal?.............................................................................................................. 37

What if I first became an Active Participant On or After October 15, 2009 and Before

January 1, 2013? ....................................................................................................... 37

DEFAULT SCHEDULE .................................................................................................................. 38

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 38

Normal Pension..................................................................................................................... 38

Early Pension ........................................................................................................................ 38

Vested Pension...................................................................................................................... 38

HOW IS MY PENSION CALCULATED?................................................................................ 38

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 38

What is my “Benefit Factor”?............................................................................................... 39

What is my Past Service Benefit?......................................................................................... 39

What is my Future Service Benefit? ..................................................................................... 39

What is my Future Service Benefit for service on and after January 1, 2011?............ 40

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 40

What is my Future Service Benefit for service before 2004?...................................... 40

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 41

HOW ARE PENSIONS PAID?.................................................................................................. 41

Normal Form of Benefit........................................................................................................ 42

Single Life Annuity...................................................................................................... 42

Qualified Joint and 50% Survivor Annuity ................................................................. 42

Lump Sum Payment of Small Benefits........................................................................ 42

Alternate Forms of Benefit ................................................................................................... 42

Single Life Annuity...................................................................................................... 42

Qualified Optional Joint and Survivor Annuity........................................................... 43
DB1/ 72954048.23

TABLE OF CONTENTS

Page

iv

ALTERNATIVE SCHEDULE A..................................................................................................... 44

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 44

Normal Pension..................................................................................................................... 44

Early Pension ........................................................................................................................ 44

Thirty Year Pension and Special Transition Benefit ............................................................ 44

Age Requirement For A Thirty-Year Pension............................................................. 44

Transition Benefit ........................................................................................................ 44

Vested Pension...................................................................................................................... 45

HOW IS MY PENSION CALCULATED?................................................................................ 45

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 45

What is my “Benefit Factor”?............................................................................................... 46

What is my Past Service Benefit?......................................................................................... 46

What is my Future Service Benefit? ..................................................................................... 46

What is my Future Service Benefit for service on and after January 1, 2011?............ 47

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 47

What is my Future Service Benefit for service before 2004?...................................... 47

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 48

HOW ARE PENSIONS PAID?.................................................................................................. 48

Normal Form of Benefit........................................................................................................ 49

Single Life Annuity...................................................................................................... 49

Qualified Joint and 50% Survivor Annuity ................................................................. 49

Lump Sum Payment of Small Benefits........................................................................ 49

Alternate Forms of Benefit ................................................................................................... 49

Single Life Annuity...................................................................................................... 49

Years Certain Annuity ................................................................................................. 50

Qualified Optional Joint and Survivor Annuity........................................................... 50

100% Joint and Survivor Annuity................................................................................ 50

Joint and Survivor Annuity With a Pop-Up................................................................. 50

ALTERNATIVE SCHEDULE B ..................................................................................................... 51

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 51
DB1/ 72954048.23

TABLE OF CONTENTS

Page

v

Normal Pension..................................................................................................................... 51

Early Pension ........................................................................................................................ 51

Thirty Year Pension and Special Transition Benefit ............................................................ 51

Age Requirement For A Thirty-Year Pension............................................................. 51

Transition Benefit ........................................................................................................ 51

Vested Pension...................................................................................................................... 52

HOW IS MY PENSION CALCULATED?................................................................................ 52

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 52

What is my “Benefit Factor”?............................................................................................... 53

What is my Past Service Benefit?......................................................................................... 53

What is my Future Service Benefit? ..................................................................................... 53

What is my Future Service Benefit for service on and after January 1, 2011?............ 54

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 54

What is my Future Service Benefit for service before 2004?...................................... 55

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 55

HOW ARE PENSIONS PAID?.................................................................................................. 56

Normal Form of Benefit........................................................................................................ 56

Single Life Annuity...................................................................................................... 56

Qualified Joint and 50% Survivor Annuity ................................................................. 56

Lump Sum Payment of Small Benefits........................................................................ 56

Alternate Forms of Benefit ................................................................................................... 56

Single Life Annuity...................................................................................................... 57

Years Certain Annuity ................................................................................................. 57

Qualified Optional Joint and Survivor Annuity........................................................... 57

100% Joint and Survivor Annuity................................................................................ 57

Joint and Survivor Annuity With a Pop-Up................................................................. 57

ALTERNATIVE SCHEDULE C ..................................................................................................... 58

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 58

Normal Pension..................................................................................................................... 58

Early Pension ........................................................................................................................ 58

Thirty Year Pension and Special Transition Benefit ............................................................ 58
DB1/ 72954048.23

TABLE OF CONTENTS

Page

vi

Age Requirement For A Thirty-Year Pension............................................................. 58

Transition Benefit ........................................................................................................ 58

Vested Pension...................................................................................................................... 59

HOW IS MY PENSION CALCULATED?................................................................................ 59

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 59

What is my “Benefit Factor”?............................................................................................... 60

What is my Past Service Benefit?......................................................................................... 60

What is my Future Service Benefit? ..................................................................................... 60

What is my Future Service Benefit for service on and after January 1, 2011?............ 61

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 61

What is my Future Service Benefit for service before 2004?...................................... 62

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 62

HOW ARE PENSIONS PAID?.................................................................................................. 63

Normal Form of Benefit........................................................................................................ 63

Single Life Annuity...................................................................................................... 63

Qualified Joint and 50% Survivor Annuity ................................................................. 63

Lump Sum Payment of Small Benefits........................................................................ 63

Alternate Forms of Benefit ................................................................................................... 63

Single Life Annuity...................................................................................................... 64

Years Certain Annuity ................................................................................................. 64

Qualified Optional Joint and Survivor Annuity........................................................... 64

100% Joint and Survivor Annuity................................................................................ 64

Joint and Survivor Annuity With a Pop-Up................................................................. 64

ALTERNATIVE SCHEDULE D..................................................................................................... 65

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 65

Normal Pension..................................................................................................................... 65

Early Pension ........................................................................................................................ 65

Thirty Year Pension and Special Transition Benefit ............................................................ 65

Age Requirement For A Thirty-Year Pension............................................................. 65

Transition Benefit ........................................................................................................ 65

Vested Pension...................................................................................................................... 66
DB1/ 72954048.23

TABLE OF CONTENTS

Page

vii

HOW IS MY PENSION CALCULATED?................................................................................ 66

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 66

What is my “Benefit Factor”?............................................................................................... 67

What is my Past Service Benefit?......................................................................................... 67

What is my Future Service Benefit? ..................................................................................... 67

What is my Future Service Benefit for service on and after January 1, 2011?............ 68

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 68

What is my Future Service Benefit for service before 2004?...................................... 69

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 69

HOW ARE PENSIONS PAID?.................................................................................................. 70

Normal Form of Benefit........................................................................................................ 70

Single Life Annuity...................................................................................................... 70

Qualified Joint and 50% Survivor Annuity ................................................................. 70

Lump Sum Payment of Small Benefits........................................................................ 70

Alternate Forms of Benefit ................................................................................................... 70

Single Life Annuity...................................................................................................... 71

Years Certain Annuity ................................................................................................. 71

Qualified Optional Joint and Survivor Annuity........................................................... 71

100% Joint and Survivor Annuity................................................................................ 71

Joint and Survivor Annuity With a Pop-Up................................................................. 71

ALTERNATIVE SCHEDULE E ..................................................................................................... 72

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 72

Normal Pension..................................................................................................................... 72

Early Pension ........................................................................................................................ 72

Thirty Year Pension and Special Transition Benefit ............................................................ 72

Age Requirement For A Thirty-Year Pension............................................................. 72

Transition Benefit ........................................................................................................ 72

Vested Pension...................................................................................................................... 73

HOW IS MY PENSION CALCULATED?................................................................................ 73

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 73

What is my “Benefit Factor”?............................................................................................... 74
DB1/ 72954048.23

TABLE OF CONTENTS

Page

viii

What is my Past Service Benefit?......................................................................................... 74

What is my Future Service Benefit? ..................................................................................... 74

What is my Future Service Benefit for service on and after January 1, 2011?............ 75

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 75

What is my Future Service Benefit for service before 2004?...................................... 76

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 76

HOW ARE PENSIONS PAID?.................................................................................................. 76

Normal Form of Benefit........................................................................................................ 77

Single Life Annuity...................................................................................................... 77

Qualified Joint and 50% Survivor Annuity ................................................................. 77

Lump Sum Payment of Small Benefits........................................................................ 77

Alternate Forms of Benefit ................................................................................................... 77

Single Life Annuity...................................................................................................... 77

Years Certain Annuity ................................................................................................. 78

Qualified Optional Joint and Survivor Annuity........................................................... 78

100% Joint and Survivor Annuity................................................................................ 78

Joint and Survivor Annuity With a Pop-Up................................................................. 78

ALTERNATIVE SCHEDULE F...................................................................................................... 79

HOW DO I BECOME COVERED BY THIS SCHEDULE? .................................................... 79

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 79

Normal Pension..................................................................................................................... 79

Early Pension ........................................................................................................................ 79

Thirty Year Pension and Special Transition Benefit ............................................................ 79

Vested Pension...................................................................................................................... 79

HOW IS MY PENSION CALCULATED?................................................................................ 80

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 80

What is my “Benefit Factor”?............................................................................................... 80

What is my Past Service Benefit?......................................................................................... 80

What is my Future Service Benefit? ..................................................................................... 81

What is my Future Service Benefit for service on and after the date I become

covered by Schedule F? ................................................................................... 81
DB1/ 72954048.23

TABLE OF CONTENTS

Page

ix

What is my Future Service Benefit for service between January 1, 2011 and the

day before I become covered by Schedule F? ................................................. 81

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 81

What is my Future Service Benefit for service before 2004?...................................... 82

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 82

HOW ARE PENSIONS PAID?.................................................................................................. 83

Normal Form of Benefit........................................................................................................ 83

Single Life Annuity...................................................................................................... 83

Qualified Joint and 50% Survivor Annuity ................................................................. 83

Lump Sum Payment of Small Benefits........................................................................ 83

Alternate Forms of Benefit ................................................................................................... 83

ALTERNATIVE SCHEDULE G..................................................................................................... 84

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS

SCHEDULE?.............................................................................................................................. 84

Normal Pension..................................................................................................................... 84

Early Pension ........................................................................................................................ 84

Vested Pension...................................................................................................................... 84

HOW IS MY PENSION CALCULATED?................................................................................ 84

How do I determine my benefit if I participated in a plan that merged into this Plan?........ 84

What is my “Benefit Factor”?............................................................................................... 85

What is my Past Service Benefit?......................................................................................... 85

What is my Future Service Benefit? ..................................................................................... 85

What is my Future Service Benefit for service on and after the date I become

covered under Schedule G? ............................................................................. 86

What is my Future Service Benefit for service between January 1, 2011 and the

day before I become covered under Schedule G?............................................ 86

What is my Future Service Benefit for service between January 1, 2004 and

December 31, 2010? ........................................................................................ 86

What is my Future Service Benefit for service before 2004?...................................... 87

How might section 415 of the Internal Revenue Code affect my pension benefits?............ 87

HOW ARE PENSIONS PAID?.................................................................................................. 87

Normal Form of Benefit........................................................................................................ 88

Single Life Annuity...................................................................................................... 88
DB1/ 72954048.23

TABLE OF CONTENTS

Page

x

Qualified Joint and 50% Survivor Annuity ................................................................. 88

Lump Sum Payment of Small Benefits........................................................................ 88

Alternate Forms of Benefit ................................................................................................... 88

Single Life Annuity...................................................................................................... 88

Qualified Optional Joint and Survivor Annuity........................................................... 89

OTHER INFORMATION ................................................................................................................ 90

Plan Administration .............................................................................................................. 90

Duration of Plan.................................................................................................................... 91

Pension Benefit Guaranty Corporation (“PBGC”) Insurance............................................... 91

Rights of Participants............................................................................................................ 92

Receive Information About Your Plan and Benefits ................................................... 92

Prudent Actions by Plan Fiduciaries............................................................................ 93

Enforce Your Rights .................................................................................................... 93

Assistance with Your Questions .................................................................................. 93

APPENDIX A - FORMER PLANS ................................................................................................. 94

When do I become an active participant in this Plan if I participated in a plan that merged

into this Plan?............................................................................................................ 94

Do I earn Future Service Credit if I participated in a plan that merged into the Plan?......... 95

Former Local 294 Plan................................................................................................. 95

Former Local 478 Plan................................................................................................. 95

Former Local 264 Bakery Plan.................................................................................... 95

Former P&C Plan......................................................................................................... 95

Former PTC Plan ......................................................................................................... 96

Former Local 264 Brewery Plan.................................................................................. 96

Former Local 791 Plan................................................................................................. 96

Former Local 264 IRP ................................................................................................. 96

How are my pension benefits calculated if I was a participant in a plan that merged into this

Plan?.......................................................................................................................... 96

Former Local 294 Plan................................................................................................. 96

Former Local 478 Plan................................................................................................. 97

Former Local 264 Bakery Plan.................................................................................... 97

Former P&C Plan......................................................................................................... 98

PTC Plan ...................................................................................................................... 99
DB1/ 72954048.23

TABLE OF CONTENTS

Page

xi

Former Local 264 Brewery Plan................................................................................ 100

Former Local 791 Plan............................................................................................... 100

Former Local 264 IRP ............................................................................................... 100

APPENDIX B - MINIMUM BENEFIT FACTOR TABLE 1........................................................ 102

APPENDIX C - MINIMUM BENEFIT FACTOR TABLE 2........................................................ 103
DB1/ 72954048.23 12

INTRODUCTION

The following is a summary of provisions of the New York State Teamsters Conference Pension and

Retirement Fund (the “Plan”) in effect as of January 1, 2013. These provisions apply to you if you complete

at least one hour of service on or after January 1, 2013 for which your employer is required to contribute to

the Plan. If you terminated employment or retired prior to January 1, 2013, please contact the Fund Office

for the summary plan description (“SPD”) that applies to you. Capitalized terms are defined in the Plan

document unless stated otherwise.

There have been several benefit changes since the last SPD describing your benefits was published, including

the Rehabilitation Plan that the Plan’s Board of Trustees (the “Trustees”) adopted. The Rehabilitation Plan

includes several schedules (each a “Schedule,” including the “Default Schedule” and “Alternative

Schedules,”) under which you accrue your pension benefits beginning on or after January 1, 2011. The

Schedule under which you will accrue benefits is dependent upon the Schedule agreed to by your Employer

and Local Union. If you are an inactive, vested participant, who does not have an hour of service after

January 1, 2011 you are covered by the Default Schedule.
DB1/ 72954048.23 13

GENERAL INFORMATION

Official Name of the Plan: New York State Teamsters Conference

Pension and Retirement Fund

151 Northern Concourse

Syracuse, NY 13212-4047

(315) 455-9790

Mailing address: New York State Teamsters Conference

Pension and Retirement Fund

P.O. Box 4928

Syracuse, NY 13221-4928

Any Service of Legal Process

Should be Sent to: Executive Administrator

New York State Teamsters Conference

Pension and Retirement Fund

P.O. Box 4928

Syracuse, NY 13221-4928

Service of legal process upon the Executive Administrator will also be deemed to be service upon the

Trustees.

Fund Accountants: D’Arcangelo & Co., LLP

Actuarial Consultants: Horizon Actuarial Services, LLC

Attorneys: Paravati, Karl, Green & DeBella, LLP

Morgan, Lewis & Bockius LLP

Blitman & King LLP

Investment Monitors: Meketa Investment Group

Plan Year: Calendar Year

Taxpayer Identification Number: 16-6063585

Plan Number: 074
DB1/ 72954048.23 14

HOW DO I BECOME A PLAN PARTICIPANT?

When does my participation in the Plan begin?

If you first became employed by an employer that is required to make contributions to this Plan (referred to

as a “Contributing Employer”) on or after January 1, 1998, you become an active participant as of the date on

which you first complete one hour of service for which contributions are required.

If you first became employed by a Contributing Employer between January 1, 1981 and December 31, 1997,

you are deemed to have become an active participant in the first year during which you completed 500 or

more hours of service with one or more Contributing Employers as of the end of any 12-month period

commencing with your employment date or each anniversary of your employment date.

If you first became employed by a Contributing Employer to this Plan between January 1, 1976 and

December 31, 1980, you are deemed to have become an active participant in the year in which you first

completed one hour of service.

You cannot be a participant if you are a business partner, sole proprietor, or if you are self-employed.

What if I was a participant in a plan that merged into this Plan?

If you were a participant in a pension plan that has merged into this Plan, please refer to “Appendix A -

Former Plans” at the end of this booklet for special rules that determine when you became an active

participant in this Plan.

When does my participation in the Plan end?

Your participation in the Plan will end when you incur a Break in Service if, at that time, you have not yet

earned five years of Future Service Credit. (See the discussion under “What is a Break in Service?” and

the discussion under “What is Future Service Credit?”). If you incur a Break in Service after you have

earned at least five years of Future Service Credit, you will no longer be an active participant in the Plan and

will be considered an inactive participant. Generally, you will continue to be an “inactive” participant until

you either return to covered employment or begin receiving payment of your benefit under the Plan.

What if I am re-employed after my participation in the Plan has ended?

If you become vested in your right to a benefit under the Plan before your active participation ends, and you

are later re-employed by a Contributing Employer, you will again become an active participant in the Plan on

the date you first complete one hour of service for which contributions to the Plan are required.

If you were previously a participant in the Plan but did not vest in your right to a benefit before your

participation ended, and you are later re-employed by a Contributing Employer in sufficient time to restore

your prior credited service (See the discussion under “What happens if my service is interrupted?”), you

will again become a participant in the Plan in the first year during which you have completed 500 or more

hours of service with one or more Contributing Employers as of the end of any 12-month period

commencing with your re-employment date or each anniversary of your re-employment date.
DB1/ 72954048.23 15

If you were previously a participant in the Plan but did not vest in your right to a benefit before your

participation ended, and you are later re-employed by a Contributing Employer at a time when you no longer

have the ability to restore your prior credited service (See the discussion under “What happens if my

service is interrupted?”), you will become a participant in the Plan on the date you first complete one hour

of service for which contributions to the Plan are required.
DB1/ 72954048.23 16

HOW DO I EARN A PENSION?

Once you become a participant, you need to earn credited service to become eligible for benefits from the

Plan. There are two kinds of credited service: Past Service Credit and Future Service Credit.

What is Past Service Credit?

Past Service Credit is credited service for the time you worked with your employer before your employer

became a Contributing Employer. You may be eligible for Past Service Credit if your employer had to make

contributions to the Plan for you on and after the date it became a Contributing Employer. You only receive

Past Service Credit for service with an employer that becomes a Contributing Employer.

Although Past Service Credit is not available under the Plan for service under a pension plan that merged

into this Plan, the benefit you receive from this Plan that is based on your service under the prior pension

plan will include amounts for any Past Service Credit you received under that plan. Please contact the Fund

Office if you have questions about the benefit you earned under your prior plan.

How do I earn Past Service Credit?

If you are eligible for Past Service Credit, you can earn one year of Past Service Credit for each consecutive

year of Future Service Credit you earn after you have earned five years of Future Service Credit. (Please see

the section below titled “What is Future Service Credit?” for a description of Future Service Credit). If

you became a participant in this Plan before January 1, 1976, you can earn one year of Past Service Credit

for each consecutive year of Future Service Credit after you have earned one year of Future Service Credit.

Certain other rules may apply if you became a participant prior to 1976. Please contact the Fund Office for

more information.

What other requirements do I need to meet to earn Past Service Credit?

You earn one year of Past Service Credit for each calendar year, beginning with 2004, in which you worked

at least 1,000 hours for your Contributing Employer.

You earn one year of Past Service Credit for each calendar year from 1996 through 2003 in which you

worked at least 1,000 hours for your Contributing Employer, provided you worked in each calendar quarter

of that year.

You earn one year of Past Service Credit for each calendar year before 1996 in which you worked for your

Contributing Employer in each calendar quarter of that year, provided you had total earnings from your

Contributing Employer (as determined by Social Security records) for the year as follows:

For Years Total Earnings of At

Least

For Years Total Earnings of At

Least

1937 to 1950 $1,600 1978 $ 9,000

1951 to 1954 1,900 1979 11,700

1955 to 1958 2,200 1980 13,200

1959 to 1965 2,500 1981 15,100

1966 to 1967 3,400 1982 16,500
DB1/ 72954048.23 17

For Years Total Earnings of At

Least

For Years Total Earnings of At

Least

1968 to 1971 4,000 1983 18,200

1972 4,600 1984 19,300

1973 5,500 1985 20,200

1974 6,700 1986 21,400

1975 7,200 1987 22,300

1976 7,400 1988 to 1995 22,900

1977 8,500

What is the maximum Past Service Credit I can earn?

You may earn up to a maximum of five years of Past Service Credit. However, if you became a participant

before January 1, 1976, you may earn up to a maximum of 15 years of Past Service Credit (20 years if you

became a participant before January 1, 1974). Certain other rules may apply if you became a participant

prior to 1976. Please contact the Fund Office for more information. Also, if you did not perform any service

for your employer for a period of three successive years prior to the date your employer became a

Contributing Employer, you will not receive any Past Service Credit for any years prior to that 3-successiveyear period.

Can I earn Past Service Credit with more than one employer?

Yes, as long as your combined Past Service Credit does not exceed the applicable maximum amount

described in the preceding paragraph.

If my former employer was acquired by a Contributing Employer, do I get Past Service Credit for my time

spent with my former employer?

If you were employed by a company that was acquired by a Contributing Employer, you will earn Past

Service Credit in accordance with the provisions above for your years of service with your former employer,

but only if the Contributing Employer was required to make contributions to the Plan for you on and after the

date of acquisition.

What happens if my employer stops making contributions?

If your employer stops making contributions to the Plan while you are actively employed but continues to

remain in business in the Plan’s geographic area, you will not be entitled to Past Service Credit with that

employer, unless the employer starts contributing again within 18 months and you remain employed with

that employer.

What is Future Service Credit?

Future Service Credit is credited service for the time you work for an employer while it is a Contributing

Employer.
DB1/ 72954048.23 18

How do I earn Future Service Credit?

Beginning in 1976, you earn one-tenth (1/10) of a year of Future Service Credit for each 100 hours of service

for which contributions to the Plan are required to be paid by your Contributing Employer on your behalf.

You may not earn more than one full year (10/10) of Future Service Credit during any single Plan Year.

Example: If you have 886 hours of service for which contributions are required in a Plan Year, you

will receive eight-tenths of one year (0.8) of Future Service Credit for that year. If you have 1,200

hours of service for which contributions are required in a Plan Year, you will receive one year (1.0)

of Future Service Credit for that year.

For years between January 1, 1961 and December 31, 1975, your Future Service Credit was based on the rate

of employer contribution, as shown in the following table:

If your employer contributed . . .

per hour,

You receive 1 year of Credit for

an employer contribution of . . .

1961 – 1963

Less than 7.5 cents $75.00 or more

7.5 cents or more $120.00 or more

1964 – 1975

Less than 7.5 cents $75.00 or more

7.5 cents but less than 12.5 cents $120.00 or more

12.5 cents but less than 17.5 cents $180.00 or more

17.5 cents but less than 22.5 cents $240.00 or more

22.5 cents but less than 27.5 cents $300.00 or more

27.5 cents but less than 32.5 cents $360.00 or more

32.5 cents but less than 37.5 cents $420.00 or more

37.5 cents but less than 42.5 cents $480.00 or more

42.5 cents but less than 47.5 cents $540.00 or more

47.5 cents but less than 52.5 cents $600.00 or more

52.5 cents or more $660.00 or more

For years prior to 1961, you were credited with one year of Future Service Credit for each year in which

$75.00 or more was contributed to the Plan on your behalf.

If I earn more than 1,000 hours in one Plan Year, will my additional hours be carried over into the following

year?

No. You may not carry over hours from one year to the next. Hours earned are credited to the year in which

they occurred.

Do I earn credit if I am a union member but not an employee of a Contributing Employer?

No. This Plan does not give credit for union membership.
DB1/ 72954048.23 19

Do I earn credit if I am an employee of a Contributing Employer for whom contributions are not required?

If you are employed by a Contributing Employer in a category of employees who are not eligible to

participate in this Plan and you subsequently become employed by the Contributing Employer in a category

that is eligible to participate in this Plan, then your prior hours of service will be recognized for purposes of

vesting and eligibility only.

Example: If you work four (4) years for a Contributing Employer in non-union employment, which

is not covered by the Plan, and then you work one year as a union member in a position for which

contributions to the Plan are required, you will be credited with five years of service for vesting

purposes and one year of Future Service Credit.

If you are participating in this Plan and you subsequently become employed by the Contributing Employer in

a category not eligible for participation in this Plan, then you will be deemed to continue as a participant for

purposes of vesting and eligibility only.

Do I earn credit if I participated in a plan that merged into the Plan?

If you were a participant in a pension plan that has merged into this Plan, special rules that apply when

determining your Future Service Credit under this Plan are described in “Appendix A - Former Plans” at

the back of this booklet.

When will I become vested in my benefits under the Plan?

A “vested” benefit is non-forfeitable and, therefore, cannot later be curtailed or eliminated. In addition to

other vesting rules described in this booklet, you will be vested in your right to receive a benefit from the

Plan when you have completed five years of Future Service Credit, including one hour of service on or after

January 1, 1999 (on or after January 1, 1989, if you are a non-union participant), or if you earned 10 years of

Future Service Credit at any time after January 1, 1976. Alternatively, your right to a benefit will vest when

you have attained age 65 (age 64 if you are a Former Local 478 employee who was classified as a “Plan A

Participant”) and have either (a) earned five years of Future Service Credit, or (b) attained the fifth

anniversary of the date you commenced participation in the Plan.

What is a Break in Service?

A Break in Service is a period of three consecutive Break in Service Years. A Break in Service Year is a

Plan Year in which you do not earn more than 500 hours of services, subject to exceptions for maternity or

paternity leave and military service, as described below.

What happens if my service is interrupted?

If you have at least five years of Future Service Credit when you incur a Break in Service, you will become

an “inactive” participant, but you will not lose your Past and Future Service Credit.

If you have fewer than five years of Future Service Credit when you incur a Break in Service, you will no

longer be a participant in the Plan and you will lose any previously accrued Future Service Credit. (Before

January 1, 1999, you had to have 10 years of Future Service Credit when you incurred a Break in Service to

retain your Past and Future Service Credit and to be considered an “inactive” vested participant.)
DB1/ 72954048.23 20

However, if you are re-employed with a Contributing Employer and again become a participant in the Plan,

any years of Past and Future Service Credit that you earned before your Break in Service may be restored.

These years will be restored only if the number of consecutive Break in Service Years you had does not

equal or exceed the greater of (a) five years, or (b) the number of years of Future Service Credit that you

earned before your Break in Service. If you do not return to work for a Contributing Employer within the

required time period, you will permanently lose credit for all of your Past and Future Service Credit, and

when you return you will be treated as if you are a new employee who had never participated in the Plan.

What happens if I take maternity or paternity leave?

If an approved maternity or paternity leave with your Contributing Employer prevents you from

accumulating at least 501 hours of service in a Plan Year, you will be credited with up to 501 hours of

service for one Plan Year for the time you are on leave in order to prevent you from incurring a Break in

Service Year. However, you will not earn any additional Past or Future Service Credit while you are on

leave unless your Contributing Employer is required to make contributions on your behalf during that period.

For this purpose, an approved maternity or paternity leave means an absence: (a) due to your pregnancy; (b)

due to the birth of your child; (c) due to the placement of a child with you in connection with your adoption

of such child; or (d) for the purpose of caring for such child immediately following such birth or placement.

What happens if I take military leave?

When you leave a Contributing Employer to enter military service, you will receive credit for your military

service, provided you return to work for a Contributing Employer in accordance with the requirements of

applicable law. In order to receive proper credit you will need to provide the Fund Office with adequate

notice and official confirmation of your military service. Please contact the Fund Office for additional

information.

What happens if I become disabled?

You will not lose your years of Past or Future Service Credit if you are unable to work because you become

totally and permanently disabled (provided you qualify for Social Security disability benefits). However,

you will not earn any Past or Future Service Credit while you are disabled unless your Contributing

Employer is required to make contributions on your behalf while you are out on disability.
DB1/ 72954048.23 21

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED BY THE PLAN?

Pension Benefits

The Plan provides a variety of pensions and you may meet the requirements for more than one type. When

this happens, you will receive the pension with the greatest value. The earliest your pension may begin is the

first day of the month following the later of the month when the Fund Office receives your completed

application or the month you elect to retire.

The pension you receive depends in part upon your age, the amount of Past and Future Service Credit you

have earned and the Schedule under which you are covered. If you were a participant in a pension plan that

has merged into this Plan, your Normal Pension benefit is determined in accordance with the special rules set

forth in “Appendix A - Former Plans”.

For information regarding the types of pensions and benefits available to you, please refer to the relevant

pages listed below:

Page

Rehabilitation Plan Schedules 36

Default Schedule 38

Schedule A 44

Schedule B 51

Schedule C 58

Schedule D 65

Schedule E 72

Schedule F 79

Schedule G 84
DB1/ 72954048.23 22

WHEN ARE PENSION BENEFITS PAID?

Under normal circumstances, your pension will not begin until the Fund Office has processed your

retirement application. Pension benefits will be paid as of the first day of each month.

How do I apply for benefits?

To receive benefits from the Plan, you must contact the Fund Office in writing at the following address:

New York State Teamsters Conference Pension and Retirement Fund

P.O. Box 4928

Syracuse, New York 13221-4928

The application package will be sent to you. Complete the documents in the application package and return

the originals to the Fund Office.

When should I apply for benefits?

You should apply for your pension 180 days prior to your desired effective date. However, this does not

guarantee receipt of a check on the desired effective date. In most cases, the Fund Office must wait for final

contributions to be paid and posted or until verification of reciprocal time. Notwithstanding the foregoing,

by law your benefits will automatically begin by April 1 of the year following the year in which you reach

age 701⁄2. If you receive your first check after your effective date, your first check will include any

retroactive pension payments that would otherwise be due. Likewise, if your pension did not commence

until after your Normal Retirement Age because you have not submitted an application to the Fund Office,

your monthly pension will be actuarially adjusted to reflect the delayed commencement date. The Fund

Office will presume that you have chosen to delay commencement of your pension if you do not submit a

pension application upon reaching Normal Retirement Age.

How will my pension be delayed by additional contributions my employer must make for vacation and

sick days?

If your employer pays contributions for vacations, sick days, holidays, roving holidays, in a lump sum, e.g.,

200 hours in one week’s paycheck, Plan rules require the time and contributions to be “pushed out” to

determine the earliest possible pension effective date.

Beginning the day following your actual last day of work, the contributions are “pushed out” at a rate of 40

hours per week until the contributions are fully applied. Under the Plan’s rules, if you have fewer than 40

hours of contributions attributed to the month when the contributions are applied, you may commence your

pension beginning the first day of that month, provided you have submitted an application for benefits.

Otherwise you will have to wait until the first day of the following month. However, no future contributions

are due for vacations, sick days, holidays or roving holidays (and you will not receive future service credit

for any such contributions made by any employer on your behalf) after your death.

Example: Your last day of work was January 4, 2013. Your Contributing Employer pays you for

224 hours of accrued, unused vacation time in a lump sum in your January 4, 2013 paycheck.

Beginning January 7, 2013, the Fund Office will push the time out at 40 hours per week to

February 13, 2013. As more than 39 hours of contributions would be credited to February 2013, the

earliest your pension could be effective would be March 1, 2013.
DB1/ 72954048.23 23

What if I believe that my hours were not properly reported?

If you believe that an employer has underreported or failed to report your hours of work in covered

employment, you must present evidence satisfactory to the Trustees to receive credit for those hours. The

burden of proof lies with you to affirmatively establish your entitlement to underreported or unreported hours

of covered employment.

What happens if my requested benefits are denied?

If any written request for benefits you submit to the Fund Office is denied, in whole or in part, the Fund

Office will notify you in writing, within 90 days after it receives your request (or within 180 days if special

circumstances require an extension of time, in which case the Fund Office will notify you of the need for the

extension). Notice of the denial will include the following:

(1) the specific reason for the denial;

(2) reference to the Plan provisions on which the denial is based;

(3) a description of any additional material or information necessary for you to perfect your

claim and an explanation of why such material or information is necessary; and

(4) an explanation of the Plan’s appeal procedure and the time limits applicable to such

procedures.

Can I appeal a denial of benefits?

If your claim for benefits has been denied, you have the right to file a written notice of appeal with the

Trustees within 60 days after you receive notice of the Fund Office’s denial. During this 60-day period, you

have the opportunity, upon request and free of charge, to be provided reasonable access to and copies of all

documents, records and other information relevant to your claim. In addition, you may submit written

comments, documents, records and other information relating to your claim.

The Trustees will make a decision on your appeal no later than the next regularly-scheduled meeting that

follows receipt of your appeal. However, if your request is not filed within 30 days before the meeting, a

decision may not be made until the second meeting that follows receipt of your appeal. Finally, if an

extension of time is needed to decide your claim, the Trustees will make a determination no later than the

third meeting that follows receipt of your appeal. If an extension of time is needed, the Fund Office will

notify you in writing of the extension. Once a decision is made, the Trustees will notify you of the decision

within five days after it was made. If your appeal is denied, you will receive written notice of the denial that

includes:

(1) the specific reason for the denial;

(2) reference to the Plan provisions on which the denial is based;

(3) 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; and

(4) a statement of your right to bring an action under section 502(a) of ERISA.
DB1/ 72954048.23 24

Benefits under this Plan will be paid only if the Trustees decide in their discretion that you are entitled to

them.

If your appeal is denied and you wish to bring an action in Federal court, you must file your legal action

within 12 months of the earliest of (i) the date of the Trustees’ decision on appeal, (ii) your failure to provide

any information requested by the Trustees or your failure to object to any incorrect information provided in a

benefit statement or other personalized communication, or (iii) your commencement of benefit payments.

However, you may not bring an action in federal court until you have exhausted this Plan’s claims and

appeals procedures, described above.

All such actions must be commenced and heard in the United States District Court for the Northern District

of New York. Any action commenced or initiated in any other venue must be transferred to the United

States District Court for Northern District of New York.
DB1/ 72954048.23 25

WHAT IS A SUPPLEMENTAL SOCIAL SECURITY BENEFIT?

An additional monthly Supplemental Social Security Benefit (the “Supplemental Benefit”) is available to you

if you continued working after your Unreduced Retirement Date prior to January 1, 2011. Your “Unreduced

Retirement Date” was the earliest date you could retire and receive a Regular Pension or a Thirty Year

Pension, but no earlier than January 1, 2004. If you were a participant in a plan that has merged into this

Plan after January 1, 2004, your Unreduced Retirement Date could not be earlier than the date you became

an active participant in this Plan. (Please refer to “Appendix A - Former Plans”, for special rules that

determine when you became an active participant in this Plan.)

How much is the Supplemental Benefit?

The amount of the Supplemental Benefit will equal a percentage, as adjusted below, of your annual accrued

benefit as of your Unreduced Retirement Date according to the following chart:

Year Worked After

Unreduced Retirement Date

Maximum Percentage of Annual

Accrued Benefit Earned

During that Year

Total Percentage of

Annual Accrued Benefit Earned

1st Year 10% 10%

2nd Year 15% 25%

3rd Year 25% 50%

4th Year 25% 75%

5th Year 25% 100%

Each Additional Year 20% Total Percentage Accumulated + 20%

The percentage you may have earned in any year depends on the number of hours for which your

Contributing Employer contributes on your behalf and the number of months you delay your retirement. If

you worked at least 1,000 hours in a year and delay retirement for 12 months in that year, you earn the full

percentage noted above. If you work at least 500 hours but less than 1,000 hours in a year or delay

retirement for less than 12 full months, the percentage you earn for that year will be prorated based on:

 the number of hours for which employer contributions are required on your behalf for the year

divided by 1,000, and multiplied by;

 the number of months you delay your retirement, divided by 12.

If you work less than 500 hours in a year, the percentage earned for that year is 0%. If in the first year you

delay retirement for less than 12 full months, then the percentage earned is 0%. See the example below for a

demonstration of how this calculation works.

How long will I receive the monthly payment?

In general, the number of months you may receive a Supplemental Benefit will equal the number of months

you delay your retirement past your Unreduced Retirement Date. For example, if you delay retirement and

continue working for up to 36 months beyond your Unreduced Retirement Date, the Supplemental Benefit is

payable for 36 months. However, payment of the Supplemental Benefit will stop when you become eligible

for unreduced Social Security benefits (the age listed below) or upon your death, if earlier.
DB1/ 72954048.23 26

Please keep in mind that, although your monthly Supplemental Benefit will generally increase with each

month that you work past your Unreduced Retirement Date, the total value of your Supplemental Benefit (the

total of all monthly payments) will begin to decrease at a certain point because you will receive your monthly

Supplemental Benefit over a fewer number of months as you approach your unreduced Social Security

retirement age.

Unreduced Social Security Retirement Ages

The following chart shows the ages for unreduced Social Security benefits based on year of birth:

Year of Birth

Age for Unreduced

Social Security Benefit

1937 or earlier

1938

1939

1940

1941

1942

1943 – 1954

1955

1956

1957

1958

1959

1960 or later

65 years

65 years and 2 months

65 years and 4 months

65 years and 6 months

65 years and 8 months

65 years and 10 months

66 years

66 years and 2 months

66 years and 4 months

66 years and 6 months

66 years and 8 months

66 years and 10 months

67 years

Example of how your Supplemental Benefit will be calculated: Assume you are age 60 on

January 1, 2005 (which is also your Unreduced Retirement Date), and your monthly benefit as of

your Unreduced Retirement Date would equal $3,000 (or $36,000 per year). You work 1,000 hours

in 2005 and in 2006. During 2007, you work a total of 700 hours and defer retirement until

September 1, 2007, for a total deferral period of 32 months. Under the formula above, you would

have earned 36.67% of your accrued benefit as a Supplemental Benefit. This percentage is

calculated by adding 10% for the 2005 deferral period, plus 15% for the 2006 deferral period, plus

11.67% for the 2007 deferral period. The 11.67% is equal to 25% (as if you deferred retirement

throughout all of 2007), multiplied by 700/1,000 (hours worked/hours required for full credit) and

8/12 (months deferred/total months).

To determine the amount of the monthly payment, you divide 36.67% of your annual accrued benefit

(36.67% x $36,000 = $13,201.20) by the number of months during which you deferred retirement

(32 months) for a monthly benefit equal to $412.54. The total of all the monthly payments (32

payments) would equal $13,201.28 (assuming you do not die before receiving all of these payments).

Continuing the example above, if you continue working, at least 1,000 hours in 2007, 2008 and

through June 2009, and retire effective July 1, 2009, you will have earned 87.5% of your annual

accrued benefit as a Supplemental Benefit.

To determine the amount of the monthly payment, you divide 87.5% of your annual accrued benefit

(87.5% x $36,000 = $31,500) by the number of months during which you delayed retirement (54

months) for a monthly benefit equal to $583.33. While your deferral period is 54 months, the
DB1/ 72954048.23 27

number of months you could receive your Supplemental Benefit before you attain age 66 and

become eligible to receive unreduced Social Security benefits would be only 17 months (because

you reach age 66 on December 31, 2010, you would not receive a payment for December 2010). As

a result, even though the monthly benefit is greater, the total amount you will receive, $9,916.61

($583.33 x 17), is less because you have fewer months until your unreduced Social Security date.

Can I receive the Supplemental Benefit in the form of a lump sum?

No. As of April 30, 2010, the Plan does not pay the Supplemental Benefit in the form of a lump sum

payment.
DB1/ 72954048.23 28

WHAT HAPPENS IF I WORK AFTER RETIREMENT?

Post-retirement employment is treated differently according to whether the work is performed before or after

you reach age 65.

If you are not yet age 65:

If you return to work after retiring, but before you reach age 65:

(1) the benefits you earned prior to January 1, 2000 will be suspended for each month that you

work 40 or more hours in bargaining or non-bargaining employment during the month (or

any four or five week period ending in the calendar month), if such work is in any trade,

craft, or industry covered by the Plan and in the Plan’s geographic area; and

(2) the benefits you earned on or after January 1, 2000 will be suspended for each month that

you either:

(a) work any hours in bargaining or non-bargaining unit employment with a “competing

employer” (i.e., an employer that competes with an employer who contributes to the

Plan)

or

(b) work 40 or more hours in bargaining or non-bargaining employment during the

calendar month (or any four or five week period ending in the calendar month), and

such employment is in any trade, craft, or industry covered by the Plan and in the

Plan’s geographic area.

You will not be entitled to any makeup payment following your suspension, but your future payments will be

adjusted to reflect any additional Future Service Credit and employer contributions you may have earned.

If you are age 65 or older:

If you are age 65 or older when you return to work (or if you continue to work after reaching age 65), your

pension benefits will be suspended for each month during which:

(1) you work 40 or more hours for any employer during the month (or any four or five week

period ending in the calendar month);

(2) the work is in an industry in which employees covered by the Plan were employed and had

accrued benefits under the Plan at the time you began receiving benefits (or would have if

you had not returned to or continued work);

(3) the work is in the trade or craft in which you were employed while you were an active

participant in the Plan; and
DB1/ 72954048.23 29

(4) the work is performed anywhere in the Plan’s geographic area at the time you began

receiving pension benefits (or would have begun receiving pension benefits if you had not

returned to or continued to work)

Benefits will be suspended, regardless of the employer, when the conditions listed above are present. This

means that, even if you work for a non-Contributing Employer or you are self-employed, your pension is

subject to the suspension rules. For each month you engage in work and the conditions set forth above are

present, one monthly pension payment will be suspended. You will permanently lose any benefit payments

that were suspended (i.e., no makeup payments will be made), but your future payments following

suspension will be increased to reflect any additional Future Service Credit and employer contributions you

may have earned.

Some of the benefit suspension rules described above may not apply if you are employed:

 by the Fund itself;

 as a tractor trailer driving instructor with the Teamsters Local 317 Education & Learning Trust or

the Teamsters Local 294 Driving School; or,

 in the construction industry at a location where the Business Manager of the Teamsters Local Union

with jurisdiction has certified that: (i) there is a critical shortage of workers to perform covered

employment in the construction industry and (ii) your employment did not result in denying covered

employment to another individual in the bargaining unit. The exception to the suspension rules will

apply only if you have been out of covered employment for at least 90 days.

Where is the Plan’s geographic area?

Prior to January 1, 2000, the Plan’s geographic area was any area covered by the Plan. On and after

January 1, 2000, the Plan’s geographic area includes, but is not limited to: Massachusetts, Pennsylvania,

New Jersey or New York or anywhere a Local or National Reciprocal Agreement is in effect. (See the

discussion under “Reciprocal Pensions” for more information regarding Local and National Reciprocal

Agreements.)

Am I required to notify the Plan about other employment?

Yes. If you retire and then decide to return to work in any capacity, regardless of the employer (including

self-employment) or the number of hours you will be working, you must provide the Fund Office with

written notice before you begin such employment. You may obtain a Re-Employment Request Form upon

written request to the Fund Office (or online at www.nytfund.org). In addition, you must provide the Fund

Office with any information it requests that is related to your re-employment activity and is needed to verify

the hours worked or other conditions of employment, including but not limited to wage statements or payroll

stubs.

In addition, if you receive a request from the Fund Office for information that relates to your employment

status, regardless of whether you are unemployed, self-employed, employed by an employer, and regardless

of the type or identity of the employer or the number of hours worked, you must respond immediately in

writing.
DB1/ 72954048.23 30

What happens if I do not notify the Fund Office about returning to or continuing work?

Failure to respond to either a request for verification or information described in this section could result in

your pension being suspended until the information is received by the Fund Office. Any payments

suspended due to your failure to respond will be paid to you once all requested documentation is received by

the Fund Office, unless the documents demonstrate that you were, in fact, working in any employment

described above.

In addition, if the Fund Office becomes aware that you are working in any employment described above, the

“Presumption Rule” applies. The Presumption Rule provides that until such time as you prove otherwise, the

Plan may presume that you are engaged in work which meets the conditions for suspension of benefits.

Therefore, once the Presumption Rule applies, your pension will be suspended immediately. The period

during which your benefits will be suspended will be equal to the number of months you are presumed to

have been working, unless you can prove that you were not working in each of those months.

Once the Presumption Rule is applied, it is your responsibility to provide the Fund Office with the necessary

data regarding your re-employment activity if you feel that your benefits should not have been suspended. If

it is determined that benefits for certain months should not have been suspended, benefits for those months

will be included in the first check issued when benefits are resumed. If the Plan pays benefits for any month

when benefits should have been suspended, you must repay the full amount of the overpayments in

accordance with Plan rules. (For more information about your obligation to repay any extra amounts you

may receive, see the discussion of overpayments under “What Else Do I Need to Know about My Plan?”

below.)

When will my pension resume?

Once you stop working or are determined to be in compliance with the Re-Employment Rules, you can apply

to have your pension restarted. You must notify the Fund Office in writing and a Request for Resumption of

Benefits Form will be sent to you. Complete the form and return the original to the Fund Office. Once the

Fund Office verifies the accuracy of the information you submit, your pension will resume not later than the

first day of the third calendar month following the calendar month in which your employment ceased. When

your benefits resume, you will receive your pension benefit in the same amount and in the same form as you

previously had been receiving your benefits, and it will be increased to take into account additional Future

Service Credit and employer contributions, if any.

Can I find out in advance whether or not my benefits will be suspended?

Yes. If you want to find out if your benefits will be suspended by accepting new employment, contact the

Fund Office in writing for a Re-Employment Request Form (or obtain a Re-Employment Request Form

online at www.nytfund.org). Complete the form and return it to the Fund Office. You will be informed if

the employment will affect your benefit.

What happens if I disagree with the decision to suspend benefits?

If you disagree with the Fund Office’s decision, you may ask for a review of the decision in accordance with

the Plan’s Claims Review Procedures described under the discussion entitled “Can I Appeal a Denial of

Benefits?” The Trustees’ decision on appeal is final regarding the right to return to work and still be eligible

to receive a pension.
DB1/ 72954048.23 31

WHAT HAPPENS IF I DIE BEFORE I RETIRE?

If you die before your pension begins, your survivors may be eligible for death benefits from the Plan. There

are two types of death benefits provided under the Plan:

(1) Qualified Pre-Retirement Survivor Annuity (QPSA):

If you are married and eligible to have a monthly pension benefit paid to you in the form of a

Qualified Joint and 50% Survivor Annuity at the time of your death, your spouse (as defined by the

Plan) will receive a monthly benefit for the remainder of his or her life equal to 50% of the monthly

amount that you could have been receiving during your life. (See the discussion under “Normal

Form of Benefit” for information on Qualified Joint and 50% Survivor Annuities).

Your spouse may begin receiving payments on the earliest date you could have elected to receive

payments from the Plan. However, your spouse also may elect to delay payments until a future date

(no later than the date you would have reached age 65). Any survivor benefit with an actuarial

equivalent value of $5,000 or less will automatically be distributed as a lump sum without any

affirmative payment election by your survivor.

(2) Monthly Installment Payments:

Note: Generally, with the implementation of the Rehabilitation Plan, death benefits payable as

monthly installments to non-spouse beneficiaries were eliminated as of January 1, 2011. However,

the bargaining parties may agree to provide the monthly installment death benefit coverage at an

additional cost.

If you are not married when you die, your survivors will be entitled to monthly installment payments

payable for 60 months if you have at least 15 years of combined Past and Future Service Credit prior

to your death and you die prior to retirement. Each monthly installment payment will be equal to the

accrued benefit you would have received at the time of your death, reduced for early retirement if it

begins before you would have been age 65 or attainment of 30 years of service and the Unreduced

Age of your schedule.

The Plan defines your “survivors” as follows: your surviving spouse (as defined by the Plan) at the time of

your death, or if you are not married, your children, or if none, your parents, or if none are living, then your

siblings.
DB1/ 72954048.23 32

RECIPROCAL PENSIONS

What is a Reciprocal Pension?

The Trustees have entered into reciprocal agreements with many other Teamster pension funds throughout

the United States. Under these agreements, the reciprocal pension funds work together to provide certain

benefits you may not otherwise be eligible for because your years of employment are divided between this

Plan and one or more other plans.

When is my service under other plans recognized under this Plan?

The Trustees recognize each Taft-Hartley multiemployer defined benefit pension plan covering participants

employed under one or more Teamsters collective bargaining agreement(s), or covering employees of locals

affiliated with the Teamsters as a Related Plan, provided such Teamsters Fund executes a National

Reciprocal Agreement or a local reciprocal agreement.

How does the Plan determine whether I am eligible for a Reciprocal Pension?

If you retire while both this Plan and the Related Plan are subject to a reciprocal agreement, and your

covered employment ends in 2001 or later, you will be eligible for a Reciprocal Pension benefit under this

Plan if you (1) have at least one year of Future Service Credit under this Plan based on actual employment

for which your employer contributes to the Plan; (2) are eligible for Reciprocal Pension benefits from at least

one Related Plan; and (3) elect the Reciprocal Pension benefit under this Plan and any Related Plan in lieu of

any other pension benefit payable. However, if your covered employment ended prior to 2001, the

applicable reciprocal agreement will be used to determine your eligibility.

How does the Plan determine which Reciprocal Pension I can choose?

Note: With the implementation of the Rehabilitation Plan, Reciprocal Pensions that you have not begun to

receive prior to January 1, 2011 are eliminated to the extent that any such pension is tied to one or more of

the benefits eliminated as of January 1, 2011.

If you are eligible for a Reciprocal Pension, you may elect to receive a Reciprocal Pension benefit with

regard to a Normal Pension, Early Pension, Thirty Year Pension or Vested Pension, if you would have been

eligible for such pension if all of your years of service (and fractions thereof) under this Plan and the Related

Plan were combined (your “Combined Credited Service”).

If you are eligible for a Reciprocal Pension, you will also be eligible to receive any other benefit provided by

this Plan which is not described in the previous paragraph. The amount of any other benefit will be

determined as described in the following paragraph and in accordance with this Plan.

How is the amount of my Reciprocal Pension determined?

The amount of your Reciprocal Pension Benefit is equal to the amount of your accrued benefit under this

Plan based on your Credited Service with this Plan, calculated at the level of benefits in effect when you last

earned an hour of service under this Plan and may be reduced as necessary for early commencement.

Because the research required to establish eligibility for a reciprocal pension may take a significant amount
DB1/ 72954048.23 33

of time, we recommend that you contact the Fund Office at least 6 months before your actual pension

effective date.
DB1/ 72954048.23 34

WHAT ELSE DO I NEED TO KNOW ABOUT MY PLAN?

Must my pension be deposited directly into my bank account?

Yes, unless you don’t have an account.

Can I assign my pension to my creditors?

No. Pension payments will be made directly to you and cannot be made to any other person. You may not

borrow against a pension or use it as security for a loan. In addition, you may not transfer or assign your

right to your pension except under a Qualified Domestic Relations Order (as described below). The Internal

Revenue Service (“IRS”), though, may levy your pension in which case the Fund Office may be required to

remit a portion of your pension payments to the IRS. Additionally and subject to certain requirements, your

pension may be affected by a judgment if you are convicted of a crime involving the Plan or if the

Department of Labor or Pension Benefit Guaranty Corporation has a judgment, order or decree against you

or a settlement agreement with you.

What happens to my pension if I get a divorce or am legally separated?

Your pension may be divided between you and your former spouse (as defined by the Plan) and/or children

pursuant to a Qualified Domestic Relations Order (“QDRO”). A QDRO is a decree or order issued by a

court, state agency or instrumentality that provides for property settlement in connection with a divorce or

legal separation, that obligates you to pay child support or alimony, or otherwise allocates a portion of your

benefit under the Plan to your spouse, former spouse, child or other dependent. If a QDRO is received by the

Fund Office, all or a portion of your benefits may be used to satisfy the obligation. The Fund Office will

determine the validity of any domestic relations order it receives in accordance with established procedures.

You may obtain a copy of these procedures from the Fund Office at no charge.

How will payments be made to me under the Plan if I am unable to care for myself?

If the Trustees determine that you, as a Pensioner or beneficiary, are unable to care for your affairs because

of mental or physical incapacity, then the Trustees may, in their discretion, pay your benefits to any entity or

individual the Trustees believe will provide for your maintenance and support. If a proper claim is made by

you or your beneficiary’s legal representative prior to any such payment, then the Trustees may pay your

benefits to such representative instead.

How is my pension taxed?

Any payments you receive from the Plan are generally subject to both federal and state income tax (where

applicable). If you receive a lump sum distribution instead of an annuity from the Plan, you may delay

paying tax on the distribution by rolling it over into an IRA or another employer-sponsored retirement plan

that accepts such rollovers. If you do not roll it over, the Plan is required to withhold 20% of the lump sum

and turn the withholding over to the IRS to be applied against any federal income tax you may owe. Please

be advised that the Plan does not withhold state income tax.
DB1/ 72954048.23 35

Do I have to repay amounts paid to me or a third party by mistake?

Yes. The recipient of any mistaken payment, overpayment or any other improper payment is required to

return the improperly-paid amount to the Plan, with interest (collectively “erroneous payment”). Any such

erroneous payment will be deemed to create an equitable lien by agreement in favor of the Plan for the

amount of the erroneous payment. If you (or any third party who received or is holding any funds

attributable to the erroneous payment) do not return the entire amount of the erroneous payment, the Plan

may withhold or offset your future pension payments. Up to 100% of the first pension payment after

discovery of the erroneous payment may be withheld to make up for the erroneous payment. If this does not

cover the erroneous payment, your subsequent pension payments will be reduced by 25% each month until

the erroneous payment is fully recovered.

In addition to adjusting your future payments, the Plan has the right to sue for recovery or use any other

lawful remedy available to recoup such amount. If the Plan commences a legal proceeding to recover the

erroneous payment, you (or any third party who received or is holding any funds attributable to the erroneous

payment) will be required to reimburse the Plan for attorneys’ and other professional fees, court costs,

disbursements and any other expenses incurred by the Plan in attempting to collect the erroneous payment.
DB1/ 72954048.23 36

REHABILITATION PLAN SCHEDULES

As we noted in the introductory message, the Trustees were required to adopt a Rehabilitation Plan, which

consists of a combination of benefit reductions and contribution increases.

When does a particular Rehabilitation Plan Schedule apply to me?

Once you become covered under one of the Schedules effective January 1, 2011 by earning one Hour of

Service under that Schedule, the provisions included in that Schedule govern the determination of your

benefits. This applies even if you previously participated in a plan that merged into the Plan. Any benefits,

rights and features provided under those merged-in plans that may have been included in the Plan document

are superseded by the applicable Schedule to the extent permitted by law.

As some participants will qualify for more than one Schedule, all benefits accrued as of December 31, 2010

will “attach” to the eligibility requirements of the Schedule with the most generous early retirement benefits

under which you have satisfied the Hours Requirement as discussed below.

To qualify for the benefits available under a Schedule, you must earn 5,000 Hours of Service under that

Schedule, with no more than 1,000 Hours of Service being taken into account for that purpose in any

particular Plan Year (“Hours Requirement”). If you earned 25 or more years of Credited Service as of

December 31, 2010, you will qualify for benefits under a Schedule after earning one (1) Hour of Service;

however, if you have not qualified for benefits under a particular Schedule by August 20, 2014, you must

earn 1,000 Hours of Service under that Schedule before you will qualify for its benefits.

Any benefits that you earn under a Schedule for which you did not meet the Hours Requirement will be at

the Schedule’s accrual rate, but will be based on the Default Schedule’s early retirement reduction

provisions.

In addition, if you become covered under Alternative Schedule F, Hours of Service that you may have earned

under another Schedule will be combined with the Hours of Service that you earn under Alternative Schedule

F to satisfy the Hours Requirement.

What if my Employer incurs a Rehabilitation Plan Withdrawal on or after June 1, 2012?

If the Trustees determine that the Contributing Employer where you earn your last year of Credited Service

incurs a Rehabilitation Plan Withdrawal from the Plan between June 1, 2012 and one year following your

benefit commencement date, certain so-called Adjustable Benefits will be reduced or eliminated as of the

effective date of your Employer’s withdrawal. This means that, among other benefits that you may be

entitled to under a particular Schedule prior to the Rehabilitation Plan Withdrawal, any right that you may

have had to a Thirty Year Pension is eliminated. In addition, the Early and Vested Pensions equal the

actuarial equivalent of the monthly amount of the Normal Pension to which you would have been entitled

upon attaining age sixty-five (65) based upon your Credited Service as of the date of your early retirement.

Any right to the following payment options are also eliminated:

1) Five Year Certain Annuity;

2) Ten Year Certain Annuity;

3) Qualified 100% Joint and Survivor Annuity; and

4) 50%, 75% and 100% Joint and Survivor Annuity with Pop-Up.
DB1/ 72954048.23 37

How Can My Adjustable Benefits Be Restored Following a Rehabilitation Plan Withdrawal?

If you incur a benefit adjustment or elimination due to a Rehabilitation Plan Withdrawal, you may have those

affected benefits restored if, following the Rehabilitation Plan Withdrawal, you (i) permanently discontinue

your employment with the withdrawn Contributing Employer within 60 days of the Rehabilitation Plan

Withdrawal, and (ii) then earn one year of Credited Service with a Contributing Employer that has agreed to

comply with the same Rehabilitation Plan Alternative Schedule as your withdrawn, former Employer.

What if I first became an Active Participant On or After October 15, 2009 and Before January 1,

2013?

If you first became an Active Participant on or after October 15, 2009 and before January 1, 2013, the

monthly amount of any Early, Thirty Year, or Vested Pension you receive will be the greater of your Normal

Pension benefit as of December 31, 2012 reduced by 6% for each year prior to age 65 that you begin

receiving benefits; and the Early, Thirty Year, or Vested Pension calculated in accordance with the

applicable Rehabilitation Plan Alternative Schedule, based upon your Credited Service as of the date of your

retirement.
DB1/ 72954048.23 38

DEFAULT SCHEDULE

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be actuarially reduced to reflect the fact that it is being paid before age 65.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be actuarially reduced if paid before age 65 to reflect the fact that it

is being paid before age 65.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 39

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, and on and after January 1, 2011.
DB1/ 72954048.23 40

What is my Future Service Benefit for service on and after January 1, 2011?

For each year of Future Service Credit you earn on and after January 1, 2011, you will earn a monthly benefit

equal to a percentage of the bearing employer contributions made on your behalf for each Plan Year. That

percentage is 1.00% under the Default Schedule as of January 1, 2011.

The Default Schedule requires minimum annual contribution rate increases that are “non-benefit bearing.”

Any contribution rate increases above those that are required will be “100% benefit bearing.”

 Non-benefit bearing means that the contribution rate that is used to calculate your benefits for each

year beginning with 2011 is your employer’s final contribution rate in effect in 2010. Any later

contribution rate increases are not taken into account to calculate your future benefit accruals.

 100% benefit bearing means that all of those contributions are multiplied by 1.00% to calculate your

future benefit accruals.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each Plan

Year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus
DB1/ 72954048.23 41

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

Plan Year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

Plan Year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to: (a)

$199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.
DB1/ 72954048.23 42

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity. A Single Life Annuity provides you with a monthly pension for your

lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you may elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.
DB1/ 72954048.23 43

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.
DB1/ 72954048.23 44

ALTERNATIVE SCHEDULE A

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be actuarially reduced to reflect the fact that it is being paid before age 65.

Thirty Year Pension and Special Transition Benefit

Age Requirement For A Thirty-Year Pension

You are eligible to receive an unreduced Thirty-Year Pension upon reaching age 65 prior to retirement

(“Unreduced Age”) in addition to earning 30 years of Credited Service.

Transition Benefit

Under the transition benefit, if you earned at least 25 years of Credited Service as of January 1, 2011, and

retire after earning at least 30 years of Credited Service but prior to attaining the Unreduced Age, you will

not have your Thirty-Year Pension benefit reduced by as much as it otherwise would be. In that instance,

you would have the following early reduction factors applied to your benefit:
DB1/ 72954048.23 45

Years of Credited Service

as of January 1, 2011

Reduction Per Year

from Unreduced Age

30 0%

29 1%

28 2%

27 3%

26 4%

25 5%

Example. Generally, if you retire after earning 30 years of Credited Service but before reaching age

65, benefits are actuarially reduced each year prior to 65 that you begin receiving benefits. However,

if you had at least 25 years of Credited Service as of January 1, 2011, you would be eligible for the

transition benefit and would have your Thirty-Year Pension benefit reduced, if at all, by the

transition benefit’s early reduction factors based on an Unreduced Age of 65. For example, if you

earned 28 years of Credited Service by January 1, 2011 and begin receiving benefits at the age of 60

after having earned 30 years of Credited Service, your benefits will be reduced by 10% (2% x 5

years) – rather than being reduced by approximately 42% as otherwise provided for an Early Pension

benefit.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be actuarially reduced if paid before age 65 to reflect the fact that it

is being paid before age 65.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 46

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, and on and after January 1, 2011.
DB1/ 72954048.23 47

What is my Future Service Benefit for service on and after January 1, 2011?

For each year of Future Service Credit you earn on and after January 1, 2011, you will earn a monthly benefit

equal to a percentage of the bearing employer contributions made on your behalf for each Plan Year. That

percentage is 0.30% under Alternative Schedule A as of January 1, 2011.

Schedule A requires minimum annual contribution rate increases that are “non-benefit bearing.” Any

contribution rate increases above those that are required will be “100% benefit bearing.”

 Non-benefit bearing means that the contribution rate that is used to calculate your benefits for each

year beginning with 2011 is your employer’s final contribution rate in effect in 2010. Any later

contribution rate increases are not taken into account to calculate your future benefit accruals.

 100% benefit bearing means that all of those contributions are multiplied by 0.30% to calculate your

future benefit accruals.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each Plan

Year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the Plan Year, plus
DB1/ 72954048.23 48

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

Plan Year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

Plan Year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to: (a)

$199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the Plan Year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.
DB1/ 72954048.23 49

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity unless you elect an alternate form of benefit described below. A Single Life

Annuity provides you with a monthly pension for your lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.
DB1/ 72954048.23 50

Years Certain Annuity

You can choose a Years Certain Annuity for terms of five years (60 months) or 10 years (120 months).

Specifically:

(1) A Five Year Certain Annuity provides you with a reduced monthly pension for your lifetime.

If you die before receiving 60 monthly payments, your survivor (determined under the

section titled “What if I die before I retire?”) will receive the remainder of those payments.

(2) The 10 Year Certain Annuity works the same way as the Five Year Certain Annuity except

the reduced monthly amount will be less than the Five Year Certain Annuity because it is

guaranteed to provide at least 120 monthly payments to you and/or your survivor.

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.

100% Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a 100% Joint and Survivor Annuity

that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal to 100% of the

reduced monthly pension paid to you while you were alive.

Joint and Survivor Annuity With a Pop-Up

If you are married on the effective date of your pension, you may elect a Joint and Survivor Annuity with a

“Pop-Up.” This form of payment provides reduced monthly payments for your lifetime. If you die before

your spouse, monthly payments will be made to your spouse in an amount equal to a selected percent of the

monthly benefit paid to you during your lifetime. (You may elect to have 50%, 75%, or 100% of your

pension continued to your spouse.) If your spouse should die before you, however, your benefit will be

increased at that time, i.e., pop up, to the amount you would have received if you had elected the Single Life

Annuity at retirement.
DB1/ 72954048.23 51

ALTERNATIVE SCHEDULE B

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

Thirty Year Pension and Special Transition Benefit

Age Requirement For A Thirty-Year Pension

You are eligible to receive an unreduced Thirty-Year Pension upon reaching age 62 prior to retirement

(“Unreduced Age”) in addition to earning 30 years of Credited Service.

Transition Benefit

Generally, if you retire with 30 years of Credited Service, but prior to reaching the Unreduced Age, your

benefits will be reduced by 6% for each year prior to the Unreduced Age. However, there is a transition

benefit. Under the transition benefit, if you earned at least 25 years of Credited Service as of January 1,

2011, and retire after earning at least 30 years of Credited Service but prior to attaining the Unreduced Age,

you will not have your Thirty-Year Pension benefit reduced by as much as it otherwise would be. In that

instance, you would have the following early reduction factors applied to your benefit:
DB1/ 72954048.23 52

Years of Credited Service

as of January 1, 2011

Reduction Per Year

from Unreduced Age

30 0%

29 1%

28 2%

27 3%

26 4%

25 5%

Example. Generally, if you retire after earning 30 years of Credited Service but before reaching age

62, benefits are reduced by 6% for each year prior to 62 that you begin receiving benefits. However,

if you had at least 25 years of Credited Service as of January 1, 2011, you would be eligible for the

transition benefit and would have your Thirty-Year Pension benefit reduced, if at all, by the

transition benefit’s early reduction factors based on an Unreduced Age of 62. For example, if you

earned 28 years of Credited Service by January 1, 2011 and begin receiving benefits at the age of 57

after having earned 30 years of Credited Service, your benefits will be reduced by 10% (2% x 5

years) – rather than being reduced by 30% (6% x 5 years) as otherwise provided under this Schedule.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be reduced if paid before age 65. Your Vested Pension will be

calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially-reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 53

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, and on and after January 1, 2011.
DB1/ 72954048.23 54

What is my Future Service Benefit for service on and after January 1, 2011?

For each year of Future Service Credit you earn on and after January 1, 2011, you will earn a monthly benefit

equal to a percentage of the bearing employer contributions made on your behalf for each Plan Year. That

percentage is 0.50% under Alternative Schedule B as of January 1, 2011.

Schedule B requires minimum annual contribution rate increases that are “non-benefit bearing.” Any

contribution rate increases above those that are required will be “100% benefit bearing.”

 Non-benefit bearing means that the contribution rate that is used to calculate your benefits for each

year beginning with 2011 is your employer’s final contribution rate in effect in 2010. Any later

contribution rate increases are not taken into account to calculate your future benefit accruals.

 100% benefit bearing means that all of those contributions are multiplied by 0.50% to calculate your

future benefit accruals.

Additionally, for each year of Future Service Credit you earn beginning January 1, 2011, you earn a monthly

benefit equal to 0.67% (instead of 0.50%) of the total employer contributions made on your behalf after the

earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Please note: This supplemental accrual rate is only available if you were eligible to receive it prior to

January 1, 2011.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.
DB1/ 72954048.23 55

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to: (a)

$199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.
DB1/ 72954048.23 56

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity unless you elect an alternate form of benefit described below. A Single Life

Annuity provides you with a monthly pension for your lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.
DB1/ 72954048.23 57

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.

Years Certain Annuity

You can choose a Years Certain Annuity for terms of five years (60 months) or 10 years (120 months).

Specifically:

(1) A Five Year Certain Annuity provides you with a reduced monthly pension for your lifetime.

If you die before receiving 60 monthly payments, your survivor (determined under the

section titled “What if I die before I retire?”) will receive the remainder of those payments.

(2) The 10 Year Certain Annuity works the same way as the Five Year Certain Annuity except

the reduced monthly amount will be less than the Five Year Certain Annuity because it is

guaranteed to provide at least 120 monthly payments to you and/or your survivor.

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.

100% Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a 100% Joint and Survivor Annuity

that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal to 100% of the

reduced monthly pension paid to you while you were alive.

Joint and Survivor Annuity With a Pop-Up

If you are married on the effective date of your pension, you may elect a Joint and Survivor Annuity with a

“Pop-Up.” This form of payment provides reduced monthly payments for your lifetime. If you die before

your spouse, monthly payments will be made to your spouse in an amount equal to a selected percent of the

monthly benefit paid to you during your lifetime. (You may elect to have 50%, 75%, or 100% of your

pension continued to your spouse.) If your spouse should die before you, however, your benefit will be

increased at that time, i.e., pop up, to the amount you would have received if you had elected the Single Life

Annuity at retirement.
DB1/ 72954048.23 58

ALTERNATIVE SCHEDULE C

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

Thirty Year Pension and Special Transition Benefit

Age Requirement For A Thirty-Year Pension

You are eligible to receive an unreduced Thirty-Year Pension upon reaching age 60 prior to retirement

(“Unreduced Age”) in addition to earning 30 years of Credited Service.

Transition Benefit

Generally, if you retire with 30 years of Credited Service, but prior to reaching the Unreduced Age, your

benefits will be reduced by 6% for each year prior to the Unreduced Age. However, there is a transition

benefit. Under the transition benefit, if you earned at least 25 years of Credited Service as of January 1,

2011, and retire after earning at least 30 years of Credited Service but prior to attaining the Unreduced Age,

you will not have your Thirty-Year Pension benefit reduced by as much as it otherwise would be. In that

instance, you would have the following early reduction factors applied to your benefit:
DB1/ 72954048.23 59

Years of Credited Service

as of January 1, 2011

Reduction Per Year

from Unreduced Age

30 0%

29 1%

28 2%

27 3%

26 4%

25 5%

Example. Generally, if you retire after earning 30 years of Credited Service but before reaching age

60, benefits are reduced by 6% for each year prior to 60 that you begin receiving benefits. However,

if you had at least 25 years of Credited Service as of January 1, 2011, you would be eligible for the

transition benefit and would have your Thirty-Year Pension benefit reduced, if at all, by the

transition benefit’s early reduction factors based on an Unreduced Age of 60. For example, if you

earned 28 years of Credited Service by January 1, 2011 and begin receiving benefits at the age of 55

after having earned 30 years of Credited Service, your benefits will be reduced by 10% (2% x 5

years) – rather than being reduced by 30% (6% x 5 years) as otherwise provided under this Schedule.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be reduced if paid before age 65. Your Vested Pension will be

calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially-reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 60

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, and on and after January 1, 2011.
DB1/ 72954048.23 61

What is my Future Service Benefit for service on and after January 1, 2011?

For each year of Future Service Credit you earn on and after January 1, 2011, you will earn a monthly benefit

equal to a percentage of the bearing employer contributions made on your behalf for each Plan Year. That

percentage is 0.30% under Alternative Schedule C as of January 1, 2011.

Schedule C requires minimum annual contribution rate increases that are “non-benefit bearing.” Any

contribution rate increases above those that are required will be “100% benefit bearing.”

 Non-benefit bearing means that the contribution rate that is used to calculate your benefits for each

year beginning with 2011 is your employer’s final contribution rate in effect in 2010. Any later

contribution rate increases are not taken into account to calculate your future benefit accruals.

 100% benefit bearing means that all of those contributions are multiplied by 0.30% to calculate your

future benefit accruals.

Additionally, for each year of Future Service Credit you earn beginning January 1, 2011, you earn a monthly

benefit equal to 0.40% (instead of 0.30%) of the total employer contributions made on your behalf after the

earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Please note: This supplemental accrual rate is only available if you were eligible to receive it prior to

January 1, 2011.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.
DB1/ 72954048.23 62

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to: (a)

$199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.
DB1/ 72954048.23 63

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity unless you elect an alternate form of benefit described below. A Single Life

Annuity provides you with a monthly pension for your lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.
DB1/ 72954048.23 64

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.

Years Certain Annuity

You can choose a Years Certain Annuity for terms of five years (60 months) or 10 years (120 months).

Specifically:

(1) A Five Year Certain Annuity provides you with a reduced monthly pension for your lifetime.

If you die before receiving 60 monthly payments, your survivor (determined under the

section titled “What if I die before I retire?”) will receive the remainder of those payments.

(2) The 10 Year Certain Annuity works the same way as the Five Year Certain Annuity except

the reduced monthly amount will be less than the Five Year Certain Annuity because it is

guaranteed to provide at least 120 monthly payments to you and/or your survivor.

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.

100% Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a 100% Joint and Survivor Annuity

that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal to 100% of the

reduced monthly pension paid to you while you were alive.

Joint and Survivor Annuity With a Pop-Up

If you are married on the effective date of your pension, you may elect a Joint and Survivor Annuity with a

“Pop-Up.” This form of payment provides reduced monthly payments for your lifetime. If you die before

your spouse, monthly payments will be made to your spouse in an amount equal to a selected percent of the

monthly benefit paid to you during your lifetime. (You may elect to have 50%, 75%, or 100% of your

pension continued to your spouse.) If your spouse should die before you, however, your benefit will be

increased at that time, i.e., pop up, to the amount you would have received if you had elected the Single Life

Annuity at retirement.
DB1/ 72954048.23 65

ALTERNATIVE SCHEDULE D

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

Thirty Year Pension and Special Transition Benefit

Age Requirement For A Thirty-Year Pension

You are eligible to receive an unreduced Thirty-Year Pension upon reaching age 57 prior to retirement

(“Unreduced Age”) in addition to earning 30 years of Credited Service.

Transition Benefit

Generally, if you retire with 30 years of Credited Service, but prior to reaching the Unreduced Age, your

benefits will be reduced by 6% for each year prior to the Unreduced Age. However, there is a transition

benefit. Under the transition benefit, if you earned at least 25 years of Credited Service as of January 1,

2011, and retire after earning at least 30 years of Credited Service but prior to attaining the Unreduced Age,

you will not have your Thirty-Year Pension benefit reduced by as much as it otherwise would be. In that

instance, you would have the following early reduction factors applied to your benefit:
DB1/ 72954048.23 66

Years of Credited Service

as of January 1, 2011

Reduction Per Year

from Unreduced Age

30 0%

29 1%

28 2%

27 3%

26 4%

25 5%

Example. Generally, if you retire after earning 30 years of Credited Service but before reaching age

57, benefits are reduced by 6% for each year prior to 57 that you begin receiving benefits. However,

if you had at least 25 years of Credited Service as of January 1, 2011, you would be eligible for the

transition benefit and would have your Thirty-Year Pension benefit reduced, if at all, by the

transition benefit’s early reduction factors based on an Unreduced Age of 57. For example, if you

earned 28 years of Credited Service by January 1, 2011 and begin receiving benefits at the age of 52

after having earned 30 years of Credited Service, your benefits will be reduced by 10% (2% x 5

years) – rather than being reduced by 30% (6% x 5 years) as otherwise provided under this Schedule.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be reduced if paid before age 65. Your Vested Pension will be

calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially-reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 67

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, and on and after January 1, 2011.
DB1/ 72954048.23 68

What is my Future Service Benefit for service on and after January 1, 2011?

For each year of Future Service Credit you earn on and after January 1, 2011, you will earn a monthly benefit

equal to a percentage of the bearing employer contributions made on your behalf for each Plan Year. That

percentage is 0.50% under Alternative Schedule D as of January 1, 2011.

Schedule D requires minimum annual contribution rate increases that are “1.00% bearing.” Any contribution

rate increases above those that are required will be “100% benefit bearing.”

 1% bearing means that the contribution rate that is used to calculate your benefits for each year

beginning with 2011 is your employer’s contribution rate that was in effect in 2010, increased by 1%

for each year beyond 2010.

 100% benefit bearing means that all of those contributions are multiplied by 0.50% to calculate your

future benefit accruals.

Additionally, for each year of Future Service Credit you earn beginning January 1, 2011, you earn a monthly

benefit equal to 0.67% (instead of 0.50%) of the total employer contributions made on your behalf after the

earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Please note: This supplemental accrual rate is only available if you were eligible to receive it prior to

January 1, 2011.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.
DB1/ 72954048.23 69

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to: (a)

$199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.
DB1/ 72954048.23 70

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity unless you elect an alternate form of benefit described below. A Single Life

Annuity provides you with a monthly pension for your lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.
DB1/ 72954048.23 71

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.

Years Certain Annuity

You can choose a Years Certain Annuity for terms of five years (60 months) or 10 years (120 months).

Specifically:

(1) A Five Year Certain Annuity provides you with a reduced monthly pension for your lifetime.

If you die before receiving 60 monthly payments, your survivor (determined under the

section titled “What if I die before I retire?”) will receive the remainder of those payments.

(2) The 10 Year Certain Annuity works the same way as the Five Year Certain Annuity except

the reduced monthly amount will be less than the Five Year Certain Annuity because it is

guaranteed to provide at least 120 monthly payments to you and/or your survivor.

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.

100% Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a 100% Joint and Survivor Annuity

that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal to 100% of the

reduced monthly pension paid to you while you were alive.

Joint and Survivor Annuity With a Pop-Up

If you are married on the effective date of your pension, you may elect a Joint and Survivor Annuity with a

“Pop-Up.” This form of payment provides reduced monthly payments for your lifetime. If you die before

your spouse, monthly payments will be made to your spouse in an amount equal to a selected percent of the

monthly benefit paid to you during your lifetime. (You may elect to have 50%, 75%, or 100% of your

pension continued to your spouse.) If your spouse should die before you, however, your benefit will be

increased, i.e., pop up, to the amount you would have received if you had elected the Single Life Annuity at

retirement.
DB1/ 72954048.23 72

ALTERNATIVE SCHEDULE E

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

Thirty Year Pension and Special Transition Benefit

Age Requirement For A Thirty-Year Pension

You are eligible to receive an unreduced Thirty-Year Pension upon reaching age 55 prior to retirement

(“Unreduced Age”) in addition to earning 30 years of Credited Service.

Transition Benefit

Generally, if you retire with 30 years of Credited Service, but prior to reaching the Unreduced Age, your

benefits will be reduced by 6% for each year prior to the Unreduced Age. However, there is a transition

benefit. Under the transition benefit, if you earned at least 25 years of Credited Service as of January 1,

2011, and retire after earning at least 30 years of Credited Service but prior to attaining the Unreduced Age,

you will not have your Thirty-Year Pension benefit reduced by as much as it otherwise would be. In that

instance, you would have the following early reduction factors applied to your benefit:
DB1/ 72954048.23 73

Years of Credited Service

as of January 1, 2011

Reduction Per Year

from Unreduced Age

30 0%

29 1%

28 2%

27 3%

26 4%

25 5%

Example. Generally, if you retire after earning 30 years of Credited Service but before reaching age

55, benefits are reduced by 6% for each year prior to 55 that you begin receiving benefits. However,

if you had at least 25 years of Credited Service as of January 1, 2011, you would be eligible for the

transition benefit and would have your Thirty-Year Pension benefit reduced, if at all, by the

transition benefit’s early reduction factors based on an Unreduced Age of 55. For example, if you

earned 28 years of Credited Service by January 1, 2011 and begin receiving benefits at the age of 50

after having earned 30 years of Credited Service, your benefits will be reduced by 10% (2% x 5

years) – rather than being reduced by 30% (6% x 5 years) as otherwise provided under this Schedule.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be reduced if paid before age 65. Your Vested Pension will be

calculated by reducing the Normal Pension benefit by 6% for each year prior to age 65 that you begin

receiving benefits. However, if the amount of the actuarially-reduced Normal Pension to which you would

have been entitled upon attaining age 65 based upon your Credited Service as of the date of your retirement

results in a greater benefit, you will receive that benefit.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 74

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, and on and after January 1, 2011.
DB1/ 72954048.23 75

What is my Future Service Benefit for service on and after January 1, 2011?

For each year of Future Service Credit you earn on and after January 1, 2011, you will earn a monthly benefit

equal to a percentage of the bearing employer contributions made on your behalf for each Plan Year. That

percentage is 0.50% under Alternative Schedule E as of January 1, 2011.

Schedule E requires minimum annual contribution rate increases that are “1.00% bearing.” Any contribution

rate increases above those that are required will be “100% benefit bearing.”

 1% bearing means that the contribution rate that is used to calculate your benefits for each year

beginning with 2011 is your employer’s contribution rate that was in effect in 2010, increased by 1%

for each year beyond 2010.

 100% benefit bearing means that all of those contributions are multiplied by 0.50% to calculate your

future benefit accruals.

Additionally, for each year of Future Service Credit you earn beginning January 1, 2011, you earn a monthly

benefit equal to 0.67% (instead of 0.50%) of the total employer contributions made on your behalf after the

earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Please note: This supplemental accrual rate is only available if you were eligible to receive it prior to

January 1, 2011.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Thirty Year

Pension, but not earlier than January 1, 2004; and (b) the date you reach your unreduced

Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Thirty Year Pension, but not earlier

than January 1, 2004.
DB1/ 72954048.23 76

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to: (a)

$199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your
DB1/ 72954048.23 77

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity unless you elect an alternate form of benefit described below. A Single Life

Annuity provides you with a monthly pension for your lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a
DB1/ 72954048.23 78

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.

Years Certain Annuity

You can choose a Years Certain Annuity for terms of five years (60 months) or 10 years (120 months).

Specifically:

(1) A Five Year Certain Annuity provides you with a reduced monthly pension for your lifetime.

If you die before receiving 60 monthly payments, your survivor (determined under the

section titled “What if I die before I retire?”) will receive the remainder of those payments.

(2) The 10 Year Certain Annuity works the same way as the Five Year Certain Annuity except

the reduced monthly amount will be less than the Five Year Certain Annuity because it is

guaranteed to provide at least 120 monthly payments to you and/or your survivor.

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.

100% Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a 100% Joint and Survivor Annuity

that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal to 100% of the

reduced monthly pension paid to you while you were alive.

Joint and Survivor Annuity With a Pop-Up

If you are married on the effective date of your pension, you may elect a Joint and Survivor Annuity with a

“Pop-Up.” This form of payment provides reduced monthly payments for your lifetime. If you die before

your spouse, monthly payments will be made to your spouse in an amount equal to a selected percent of the

monthly benefit paid to you during your lifetime. (You may elect to have 50%, 75%, or 100% of your

pension continued to your spouse.) If your spouse should die before you, however, your benefit will be

increased, i.e., pop up, to the amount you would have received if you had elected the Single Life Annuity at

retirement.
DB1/ 72954048.23 79

ALTERNATIVE SCHEDULE F

HOW DO I BECOME COVERED BY THIS SCHEDULE?

You become covered by Alternative Schedule F if, on or after June 1, 2012, your Employer withdraws from

the Plan and pays an agreed-upon amount of its withdrawal liability. In addition, your employer would have

agreed to immediately re-enter the Plan in a “new employer” pool under this Alternative Schedule F. Once

an Employer becomes covered under Alternative Schedule F, that Employer must remain under this Schedule

for at least five years.

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

Calculation of your Early Pension is based on the provisions of the Schedule that you were covered under

immediately before being covered by Alternative Schedule F.

Thirty Year Pension and Special Transition Benefit

Whether you are eligible for these benefits is based on the provisions of the Schedule that you were covered

under immediately before being covered by Alternative Schedule F.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.
DB1/ 72954048.23 80

Calculation of your Vested Pension is based on the provisions of the Schedule that you were covered under

immediately before being covered by Alternative Schedule F.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.
DB1/ 72954048.23 81

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, between January 1, 2011 and the day before

you become covered by Schedule F, and on and after the date that you become covered by Schedule F.

What is my Future Service Benefit for service on and after the date I become covered by Schedule F?

For each year of Future Service Credit you earn on and after the date you become covered by Schedule F,

you will earn a monthly benefit equal to a percentage of the total employer contributions made on your

behalf for each Plan Year. That percentage is 1.00% under Alternative Schedule F as of June 1, 2012.

Under Schedule F, all contribution rate increases are “100% benefit bearing.” 100% benefit bearing means

that all of those contributions are multiplied by 1.00% to calculate your future benefit accruals.

What is my Future Service Benefit for service between January 1, 2011 and the day before I become covered

by Schedule F?

For each year of Future Service Credit you earned between January 1, 2011 and the day before you become

covered under Schedule F, you will earn a monthly benefit equal to a percentage of the bearing employer

contributions made on your behalf for each Plan Year. The percentage will be dictated by the Alternative

Schedule (or Schedules) under which your Employer contributed prior to Schedule F. See the applicable

Alternative Schedule for additional information.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or
DB1/ 72954048.23 82

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to:

(a) $199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.
DB1/ 72954048.23 83

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity unless you elect an alternate form of benefit described below. A Single Life

Annuity provides you with a monthly pension for your lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Availability of any alternative forms to receive your benefit is contingent upon those provided on the

Schedule that you were covered under immediately before being covered by Alternative Schedule F.
DB1/ 72954048.23 84

ALTERNATIVE SCHEDULE G

WHAT TYPES OF PENSIONS AND BENEFITS ARE PROVIDED UNDER THIS SCHEDULE?

Normal Pension

You are eligible for a Normal Pension upon reaching Normal Retirement Age. You reach your Normal

Retirement Age when you are at least age 65, and have either five years of participation in the Plan or five

years of Future Service Credit. If you were a participant in the former Local 478 Plan, you may be eligible

for a Normal Pension when you reach age 64. The Normal Pension is not reduced for age.

If you remain in Covered Employment beyond age 65 (age 64 for certain former Local 478 Plan

participants), you will continue to earn Future Service Credit, but your benefit generally will not begin until

you actually retire. Please refer to the section titled “What Happens If I Work After Retirement” for more

information.

Early Pension

You are eligible for an Early Pension at any age if you have earned at least 15 years of combined Past and

Future Service Credit, five of which must be years of Future Service Credit.

The Early Pension is based on the amount of the Normal Pension you have earned. Your Early Pension will

be actuarially reduced to reflect the fact that it is being paid before age 65.

Vested Pension

You are eligible for a Vested Pension beginning at age 65 if you incurred a Break in Service and have at least

five years of Future Service Credit. If you do not have at least one hour of service on or after January 1,

1999 (or after January 1, 1989 for non-union participants), you must have at least 10 years of Future Service

Credit to be eligible for a Vested Pension beginning at age 65.

You are eligible for a Vested Pension beginning before age 65 if you incurred a Break in Service and have at

least 15 years of combined Past and Future Service Credit with at least five years of Future Service Credit.

The amount of your Vested Pension will be reduced if paid before age 65. Your Vested Pension will be

actuarially reduced to reflect the fact that it is being paid before age 65.

HOW IS MY PENSION CALCULATED?

Every pension under the Plan is based on the amount of your Normal Pension which is determined by adding

your Past Service Benefit and your Future Service Benefit.

How do I determine my benefit if I participated in a plan that merged into this Plan?

If you previously participated in a plan that merged into this Plan, all or a portion of your benefit may be

determined under the terms of your previous plan. Please refer to “Appendix A - Former Plans” for

information about the benefits payable to participants in plans that were merged into this Plan.
DB1/ 72954048.23 85

What is my “Benefit Factor”?

Your Benefit Factor is necessary to determine the amount of your Past and Future Service Benefit for years

prior to 2004. The Benefit Factor applicable to you depends on your employer’s contribution rate and your

hours of service. The Benefit Factor applicable to you is located in “Appendix B - Minimum Benefit

Factor Table 1” if:

(1) you were an active participant on and after April 1, 2001;

(2) a Contributing Employer is required to make contributions to the Plan on your behalf on and

after April 1, 2001; and

(3) you did not incur a Break in Service Year in 2000.

If you incurred a Break in Service Year in 2000, your Benefit Factor is determined under “Appendix B -

Minimum Benefit Factor Table 1” if you accumulated the minimum service hours at the corresponding

employer contribution rate listed in Minimum Benefit Factor Table 1 after March 31, 2001.

Benefit Factors applicable to other retirements are found in “Appendix C - Minimum Benefit Factor

Table 2”.

What is my Past Service Benefit?

If you receive Past Service Credit and your employer first becomes obligated to contribute to the Plan in

2004 or later, your Past Service Benefit will equal your years of Past Service Credit multiplied by $1.00 for

each $.05 of the contribution rate in effect on the date your Contributing Employer became obligated to

contribute to the Plan. If you receive Past Service Credit and your employer first became obligated to

contribute to the Plan before 2004, your Past Service Benefit will be equal to your Benefit Factor multiplied

by your Past Service Credit.

Example for employers first obligated to contribute in 2004 or later: Assume you retire and

apply for a pension, and your Contributing Employer has only been obligated to contribute to the

Plan since 2004 (or later). If you had five years of Past Service Credit, and if the contribution rate in

effect when your employer became a Contributing Employer equaled $1.25, your Past Service

Benefit would equal 5 x $25 ($1.00 x 1.25/$.05) = $125, which is a monthly benefit payable at age

65.

Example for employers obligated to contribute before 2004: Assume you retire and apply for a

pension, and your Contributing Employer has been obligated to contribute to the Plan since before

2004. Your highest rate of contributions in effect for at least 8,000 hours was $1.15/hour. Under

tables found in Appendix B, your Benefit Factor would be $65. If you had five years of Past Service

Credit, your Past Service Benefit would be 5 x $65 or $325, which is a monthly benefit payable at

age 65.

What is my Future Service Benefit?

Your total Future Service Benefit is equal to the sum of the benefit you earned with respect to your service

before 2004, between January 1, 2004 and December 31, 2010, between January 1, 2011 and the day before

you become covered by Schedule G, and on and after the date that you become covered by Schedule G.
DB1/ 72954048.23 86

What is my Future Service Benefit for service on and after the date I become covered under Schedule G?

For each year of Future Service Credit you earn on and after the date you become covered by Schedule G,

you will earn a monthly benefit equal to a percentage of the bearing employer contributions made on your

behalf for each Plan Year. That percentage is 0.25% under Alternative Schedule G as of January 1, 2013.

Schedule G requires minimum annual contribution rate increases that are “non-benefit bearing.” Any

contribution rate increases above those that are required will be “100% benefit bearing.”

 Non-benefit bearing means that the contribution rate that is used to calculate your benefits for each

year beginning with 2013 is the contribution rate in effect when your employer first agreed to

comply with Alternative Schedule G. Any later contribution rate increases are not taken into account

to calculate your future benefit accruals.

 100% benefit bearing means that all of those contributions are multiplied by 0.25% to calculate your

future benefit accruals.

What is my Future Service Benefit for service between January 1, 2011 and the day before I become covered

under Schedule G?

For each year of Future Service Credit you earned between January 1, 2011 and the day before you become

covered under Schedule G, you will earn a monthly benefit equal to a percentage of the bearing employer

contributions made on your behalf for each Plan Year. The percentage will be dictated by the Alternative

Schedule (or Schedules) under which your Employer contributed prior to Schedule G. See the applicable

Alternative Schedule for additional information.

What is my Future Service Benefit for service between January 1, 2004 and December 31, 2010?

For each year of Future Service Credit you earned between January 1, 2004 and December 31, 2010, you will

earn a monthly benefit equal to 1.3% of the total employer contributions made on your behalf for each year.

Example of accruals: If your contribution rate was $7.715 and there were 2,080 hours of contributions

made on your behalf for 2007, your accrual for 2007 would equal: $7.715 x .013 x 2,080 = $208.61. If

your contribution rate was $2.35 and there were 2,080 hours of contributions made on your behalf

during 2007, your accrual for 2007 would equal: $2.35 x .013 x 2,080 = $63.54.

Additionally, for each year of Future Service Credit you earned between October 1, 2007 and December 31,

2010, you earned a monthly benefit equal to 1.73% (instead of 1.3%) of the total employer contributions

made on your behalf after the earlier of:

(1) the midpoint of the period between (a) the date you first become eligible for a Regular

Pension or a Thirty Year Pension, but not earlier than January 1, 2004; and (b) the date you

reach your unreduced Social Security retirement age; or

(2) 5 years following the date you first became eligible for a Regular Pension or a Thirty Year

Pension, but not earlier than January 1, 2004.

Example of enhanced accruals for service after September 2007 and before January 2011: If your

contribution rate was $7.715 and there were 2,080 hours of contributions made on your behalf for 2008

under the enhanced formula described above, your accrual for 2008 would equal: $7.715 x .0173 x
DB1/ 72954048.23 87

2,080 = $277.62. If your contribution rate was $2.35 and there were 2,080 hours of contributions made

on your behalf during 2008 under the enhanced formula described above, your accrual for 2008 would

equal: $2.35 x .0173 x 2,080 = $84.56.

What is my Future Service Benefit for service before 2004?

For Future Service Credit earned before 2004, you earned a monthly benefit equal to the greater of:

(1) 2.6% of the total employer contributions made on your behalf for the year, plus

(a) If you have 6,000 hours of contributions at the rate of $4.095 or higher, an additional

benefit equal to $10.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080; or

(b) If you have 4,000 hours of contributions at the rate of $4.345 or higher, an additional

benefit equal to $20.17 multiplied by a fraction (less than or equal to 1) where the

numerator is actual hours of contributions made on your behalf at that rate for the

year and the denominator is 2,080.

(2) Your Benefit Factor multiplied by the Future Service Credit you earned that year.

The monthly benefit determined above cannot exceed the Benefit Cap. The “Benefit Cap” is equal to:

(a) $199.83, (b) $210 if you have 6,000 hours of contributions at an employer contribution rate of $4.095 or

higher and have 2,080 hours of contributions for the year, or (c) $220 if you have 4,000 hours of

contributions at an employer contribution rate of $4.345 or higher and have 2,080 hours of contributions for

the year.

Example of accruals for service before 2004: If your contribution rate is $6.115 and there were

2,080 hours of contributions made on your behalf for 2003, your accrual for 2003 under the formula

above would be capped at $220 (assuming you had 4,000 total hours at that contribution level).

Alternatively, if your contribution rate is $2.35 and there were 2,080 hours of contributions made on

your behalf during 2003, your accrual for 2003 would equal: $2.35 x .026 x 2,080 = $127.09.

How might section 415 of the Internal Revenue Code affect my pension benefits?

Congress has imposed pension limits that could affect you. Your annual pension cannot exceed $205,000 in

2013. If you retire prior to age 62, the $205,000 limit will be reduced based upon your age at retirement.

The limit is adjusted periodically for inflation. Thus, if your pension is reduced because of the limit, it will

be adjusted upward each time the corresponding limit is adjusted until your pension equals, or is less than,

the limit. Please contact the Fund Office if you have questions about how the Code section 415 limit might

apply to you.

HOW ARE PENSIONS PAID?

There are several ways for you to receive your pension. When you apply for your pension, you will need to

elect a form of payment that will determine the amount of your monthly benefit during your lifetime. Your

payment election will also determine the benefit, if any, your spouse (as defined by the Plan) or your other

survivors may receive after your death.
DB1/ 72954048.23 88

The form of payment you choose may be changed at any time prior to the effective date of your pension.

After that date, your form of payment cannot be changed.

Normal Form of Benefit

Single Life Annuity

If you are not married on the effective date of your pension, your pension benefit will be paid to you in the

form of a Single Life Annuity. A Single Life Annuity provides you with a monthly pension for your

lifetime, and payments will stop upon your death.

Qualified Joint and 50% Survivor Annuity

If you are married on the effective date of your pension, the Plan is legally required to pay your pension in

the form of a Qualified Joint and 50% Survivor Annuity, unless you and your spouse (as defined by the Plan)

together elect an alternate form of benefit described below. A Qualified Joint and 50% Survivor Annuity

provides reduced monthly benefit payments for your lifetime and, after your death, a monthly payment to

your spouse equal to 50% of the monthly benefit paid to you while you were alive.

Example: Assume you retire at age 60 and have earned a benefit of $1,000 per month payable in the

Single Life Annuity form of benefit. Your spouse is 57 years old. Under the Qualified Joint and

50% Survivor Annuity form of benefit, your monthly pension will be reduced to $908.00 for as long

as you live. When you die, monthly payments of $454.00 will continue to your spouse for his or her

lifetime.

Lump Sum Payment of Small Benefits

Whether or not you are married, if the lump sum value of your pension benefit does not exceed $5,000 on the

effective date of your pension, you can only elect to have your pension benefit paid to you in one lump sum

payment. However, in the event that your benefit is being paid for any reason other than an affirmative

election by you or your beneficiary (such as a required minimum distribution commencing after you turn age

701⁄2), payment will be made to you in a series of installments if necessary so that no more than $1,000 will

constitute an eligible rollover distribution. The lump sum value of your pension is calculated in accordance

with the requirements of the Internal Revenue Code.

Alternate Forms of Benefit

Instead of the normal form of payment described above, you may elect to receive your pension benefit in one

of the alternate forms described below. If you are married on the effective date of your pension and you

want to receive one of the alternate forms of benefit described below, your spouse (as defined by the Plan)

must consent in writing on the forms provided by the Fund Office. Your spouse’s consent must be

notarized.

Single Life Annuity

If you are married on the effective date of your pension and you and your spouse (as defined by the Plan)

together elect a Single Life Annuity form of benefit, your pension benefit will be paid to you in the form of a

Single Life Annuity that provides you with a monthly pension for your lifetime, and payments will stop upon

your death with no benefit paid to your surviving spouse.
DB1/ 72954048.23 89

Qualified Optional Joint and Survivor Annuity

If you are married on the effective date of your pension, you may elect a Qualified Optional Joint and

Survivor Annuity that provides your surviving spouse (as defined by the Plan) with a monthly benefit equal

to 75% of the reduced monthly pension paid to you while you were alive.
DB1/ 72954048.23 90

OTHER INFORMATION

Plan Administration

The Plan is administered by a Board of Trustees that has equal representation by the Union and the

Contributing Employers. All questions relating to the eligibility of employees and the amount of benefits

payable in each case will be determined by the Trustees in accordance with Plan provisions. The Trustees

have the sole discretionary authority to interpret the Plan’s provisions.

The Trustees are responsible for interpreting the Plan and for making determinations under the Plan. To

carry out this responsibility, the Trustees have exclusive authority and discretion: to determine whether an

individual is eligible for any benefits under the Plan; to determine the amount of benefits, if any, an

individual is entitled to from the Plan; to determine or find facts that are relevant to any claim for benefits

from the Plan; to interpret all of this booklet’s provisions; to interpret the provisions of any Collective

Bargaining Agreement or written Participation Agreement involving or impacting this Plan; to interpret all

the provisions of any other document or instrument involving or impacting the Plan; and, to interpret all of

the terms used in this booklet and in all of the other previously-mentioned agreements, documents, and

instruments.

All such interpretations and determinations made by the Trustees, or their designee, are final and binding

upon any individual claiming benefits under the Plan and upon all Employees and Contributing Employers,

the Union and any party who has executed any agreement with the Trustees or the Union; will be given

deference in all courts of law, to the greatest extent allowed by applicable law; and will not be overturned or

set aside by any court of law unless the court finds that the Trustees, or their designee, abused their discretion

in making such determination or rendering such interpretation. Benefits under this Plan will be paid only if

the Trustees decide in their discretion that you are entitled to them.

The following individuals are currently the Trustees of the Plan:
DB1/ 72954048.23 91

Labor Trustees Employer Trustees

John Bulgaro, Co-Chairman

Teamsters Local Union No. 294

Labor Temple

890 Third Street

Albany, NY 12206

Michael S. Scalzo, Sr., Co-Chairman

ABF Freight System, Inc.

7 Depot Hill Road

Enfield, CT 06082

Brian K. Hammond

Teamsters Local Union No. 687

14 Elm Street

Potsdam, NY 13676

Robert Schaeffer

Executive Director

Transport Employers Association

29 Reed Street

Marcellus, NY 13108

Mark D. May

Teamsters Local Union No. 317

566 Spencer Street

Syracuse, NY 13204

Daniel W. Schmidt

New Penn Motor Express, Inc.

625 South 5th Avenue

Lebanon, PA 17042

Tom J. Ventura

YRC Worldwide Inc.

10990 Roe Avenue

Overland, KS 66207

You may obtain a complete list of the Contributing Employers and local unions that contribute to this Plan

by writing to the Fund Office. If you write to the Fund Office, you might also be able to review or obtain

copies of the employer participation agreements by which these employers contribute. The Fund Office will

also help you determine whether a particular employer or union contributes to the Plan, if you submit a

written request for that information.

Duration of Plan

While it is hoped and believed that the Plan will be continued indefinitely, the Trustees, in their sole

discretion, reserve the right to change or to terminate the Plan at any time. In the unlikely event that

circumstances cause the Plan to be terminated, the entire trust fund will be used to pay administrative

expenses and provide benefits to Plan participants in accordance with applicable law.

Pension Benefit Guaranty Corporation (“PBGC”) Insurance

Your pension benefits under this Plan are insured by the Pension Benefit Guaranty Corporation (the

“PBGC”), a federal insurance agency. A multiemployer plan is a collectively bargained pension

arrangement involving two or more unrelated employers, usually in a common industry.

Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans that

are insolvent. A multiemployer plan is considered insolvent if the plan is unable to pay benefits (at least

equal to the PBGC’s guaranteed benefit limit) when due.
DB1/ 72954048.23 92

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

guarantee equals a participant’s years of service multiplied by (1) 100% of the first $11 of the monthly

benefit accrual rate and (2) 75% of the next $33. The PBGC’s maximum guarantee limit is $35.75 per month

times a participant’s years of service. For example, the maximum annual guarantee for a retiree with 30

years of service would be $12,870.

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

become disabled before the Plan is insolvent; and (3) certain benefits for your survivors.

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

set by law; (2) benefit increases and new benefits based on Plan provisions that have been in place for fewer

than five years at the earlier of: (i) the date the Plan terminates or (ii) the time the Plan becomes insolvent;

(3) benefits that are not vested because you have not worked long enough; (4) benefits for which you have

not met all of the requirements at the time the Plan becomes insolvent; and (5) non-pension benefits, such as

health insurance, life insurance, certain death benefits, vacation pay and severance pay. The PBGC

guarantee also does not cover preretirement survivor annuities paid due to a participant’s death on or after the

date the Plan terminates.

For more information about the PBGC and the benefits it guarantees, inquire at the Fund Office, or contact

the PBGC’s Technical Assistance Branch, 1200 K Street N.W., Washington, D.C. 20005-4026, or call (202)

326-4000 (not a toll-free number) or 1-800-400-7242 (toll-free number). TTY/TDD users may call the

federal relay service toll-free at 1-800-877-8339 and ask to be connected to 1-800-400-7242. Additional

information about the PBGC’s pension insurance program is available through the PBGC’s website on the

Internet at http://www.pbgc.gov.

Rights of Participants

As a participant in the Plan described in this SPD you are entitled to certain rights and protections under the

Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Plan participants shall

be entitled to:

Receive Information About Your Plan and Benefits

 Examine, without charge, at the Fund Office and at other specified locations, such as worksites and

union halls, all documents governing the Plan, including insurance contracts and collective bargaining

agreements, and a copy of the latest annual report (Form 5500 series) filed by the Plan with the U.S.

Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security

Administration.

 Obtain, upon written request to the Fund Office, copies of documents governing the operation of the

Plan, including insurance contracts and employer participation agreements, and copies of the latest

annual report (Form 5500 series) and updated summary plan description. The Fund Office may make a

reasonable charge for the copies.

 Receive the Plan’s Annual Funding Notice. The Plan is required by law to furnish each participant with

a copy of this report.

 Obtain a statement telling you whether you have a right to receive a pension at normal retirement age

(age 65 for all participants other than certain Local 478 Plan employees, for whom normal retirement age

is age 64) and if so, what your benefits would be at normal retirement age if you stop working under the
DB1/ 72954048.23 93

Plan now. If you do not have a right to a pension, the statement will tell you how many more years you

have to work to get a right to a pension. This statement must be requested in writing and is not required

to be given more than once every 12 months. The Plan must provide the statement free of charge.

Prudent Actions by Plan Fiduciaries

In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are

responsible for the operation of the employee benefit plan. The people who operate your Plan, called

“fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan participants

and beneficiaries. No one, including your employer, your union, or any other person, may fire you or

otherwise discriminate against you in any way to prevent you from obtaining a pension benefit or exercising

your rights under ERISA.

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 the denial, all

within certain time schedules.

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of

plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may

file suit in a Federal court. In such a case, the court may require the plan administrator to provide the

material 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 Fund Office. 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, 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 United States 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.

All such suits must be commenced and heard in the United States District Court for the Northern District of

New York. Any suit commenced or initiated in any other venue must be transferred to the United States

District Court for Northern District of New York.

Assistance with Your Questions

If you have any questions about your Plan, you should contact the Fund Office. If questions arise about this

statement or about your rights under ERISA or if you need assistance in obtaining documents from the Fund

Office, 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, United States 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.

The previous section is required by the United States Department of Labor. Its inclusion in this SPD should

not be construed as offering legal advice.
DB1/ 72954048.23 94

APPENDIX A - FORMER PLANS

The information in this “Appendix A - Former Plans” describes special rules for participants in the

following pension plans that were merged into this Plan.

 The Pension Fund of the Albany Area Trucking and Allied Industries, Local 294 IBT (the

“former Local 294 Plan”)

 The Local 478 Trucking and Allied Industries Pension Fund (the “former Local 478 Plan”)

 The Local 264 Bakery Division Pension Fund (the “former Local 264 Bakery Plan”)

 The P&C Foods Pension Plan for Represented Employees (the “former P&C Plan”)

 The Penn Traffic Company Cash Balance Plan (the “PTC Plan”)

 The Local No. 264 Brewery Division Pension Plan (the “former Local 264 Brewery Plan”)

 The Brewery and Related Workers Pension Plan of the Rochester, N.Y. Area (the “former Local

791 Plan”)

 The Income Replacement Plan for the Milk, Ice Cream Drivers and Dairy Employees of

Teamsters Local No. 264 (the “former Local 264 IRP”)

Each question shown in bold below corresponds to a question in the main body of this booklet that refers to

special rules for participants in these former plans.

When do I become an active participant in this Plan if I participated in a plan that merged into this

Plan?

If you were a participant in a pension plan that merged into this Plan, the time that you become a participant

in this Plan is determined as follows:

If you participated

in this plan:

And you: You are an active

participant in the Plan:

Former Local 294 Plan Were an active participant in the

former Local 294 Plan

As of the date you complete 1 hour of

service with a Contributing Employer to

this Plan on or after August 1, 1997 and

before January 1, 1998.

Former Local 478 Plan Earned 400 hours of service under

the former Local 478 Plan in 1999

As of the date you complete 1 hour of

service with a Contributing Employer to

this Plan on or after January 1, 2000

Former Local 264

Bakery Plan

Were actively in covered

employment on December 31, 1999

by a contributing employer to the

former Local 264 Bakery Plan

On January 1, 2000

Former P&C Plan Are listed on Exhibit A of the P&C

Merger Agreement (please see Fund

Office for more details)

On January 1, 2001

Former PTC Plan Are listed on Exhibit A of the PTC On April 1, 2002
DB1/ 72954048.23 95

If you participated

in this plan:

And you: You are an active

participant in the Plan:

Merger Agreement (please see Fund

Office for more details)

Former Local 264

Brewery Plan

Were actively in covered

employment on December 31, 2000

by a contributing employer to the

Teamsters Local 264 Brewery Plan

On January 1, 2001

Former Local 791 Plan Were actively in covered

employment by a contributing

employer to the Former Local 791

Plan on April 30, 2004

On May 1, 2004

Former Local 264 IRP Were not an active participant on

January 1, 2006

As of the date you complete 1 hour of

service with a Contributing Employer to

this Plan on or after January 1, 2006

Do I earn Future Service Credit if I participated in a plan that merged into the Plan?

The following rules apply when determining the Future Service Credit of participants in plans that merged

into this Plan:

Former Local 294 Plan

If you are a former Local 294 Plan participant who became an active participant in this Plan based on the

special participation rule described above, service that was rendered prior to August 1, 1997 and recognized

under the terms of the former Local 294 Plan is considered as Future Service Credit under this Plan. You

will also retain the hours in excess of 2,080 hours included as of July 31, 1997 in your “bank,” as determined

under the provisions of the former Local 294 Plan. No additional hours may be added to this bank after

July 31, 1997. You may use such banked hours in the same manner as provided under the terms of the

former Local 294 Plan.

Former Local 478 Plan

If you are a former Local 478 Plan participant who became an active participant in this Plan based on the

special participation rule described above, service rendered prior to January 1, 2000 and recognized under the

terms of the former Local 478 Plan is treated as Future Service Credit under this Plan.

Former Local 264 Bakery Plan

If you are a former Local 264 Bakery Plan participant who became an active participant in this Plan based on

the special participation rule described above, service that was rendered prior to January 1, 2000 and

recognized under the terms of the former Local 264 Bakery Plan is treated as Future Service Credit under

this Plan.

Former P&C Plan

If you are a former P&C Plan participant who became an active participant in this Plan based on the special

participation rule described above, service that was rendered prior to January 1, 2001 and recognized under

the terms of the P&C Plan is treated as Future Service Credit under this Plan. If you were an active
DB1/ 72954048.23 96

participant in the former P&C Plan, and before January 1, 2001 you ceased to be employed by a contributing

employer to the former P&C Plan and immediately thereafter became an active participant in this Plan,

service recognized under the terms of the P&C Plan is treated as Future Service Credit under this Plan.

Former PTC Plan

If you are a former PTC Plan participant who became an active participant in this Plan based on the special

participation rule described above, service that was rendered prior to April 1, 2002 and recognized under the

terms of the P & C Maintenance Plan is treated as Future Service Credit under this Plan.

Former Local 264 Brewery Plan

If you are a former Local 264 Brewery participant who became an active participant in this Plan based on the

special participation rule described above, service that was rendered prior to January 1, 2001 and recognized

under the terms of the former Local 264 Brewery Plan is treated as Future Service Credit under this Plan. If

you were an active participant in the former Local 264 Brewery Plan, and before January 1, 2001 you ceased

to be employed by a contributing employer to the former Local 264 Brewery Plan and immediately thereafter

became an active participant in this Plan, service recognized under the terms of the former Local 264

Brewery Plan is treated as Future Service Credit under this Plan.

Former Local 791 Plan

If you are a former Local 791 Plan participant who became an active participant in this Plan based on the

special participation rule described above, service that was rendered prior to May 1, 2004 and recognized

under the terms of the former Local 791 Plan is treated as Future Service Credit under this Plan.

Former Local 264 IRP

If you are a former Local 264 IRP participant who became an active participant in this Plan prior to

January 1, 2006 or a vested Local 264 IRP participant who becomes eligible to participate in this Plan after

January 1, 2006 and has not had a Break in Service, service that was rendered prior to January 1, 2006 and

recognized under the terms of the former Local 264 IRP is treated as Future Service Credit under this Plan.

How are my pension benefits calculated if I was a participant in a plan that merged into this Plan?

Former Local 294 Plan

If you are an active participant in the former Local 294 Plan, your Normal Pension will be determined as

follows:

(1) The benefit earned under the former Local 294 Plan formula based upon your

service under that plan through July 31, 1997.

plus

(2) The greater of (a) or (b):

(a) If you began participating in the former Local 294 Plan before August 1,

1971 and had completed more than 15 years of service under the Local 294

Plan (including Past and Future Service Credit) as of July 31, 1997, a benefit
DB1/ 72954048.23 97

equal to (i) the number of years of service you earned under the former

Local 294 Plan over 15 years, multiplied by (ii) the amount determined

under (1) above, multiplied by (iii) 2-1/2%; or

(b) If you had completed more than 20 years of service under the former Local

294 Plan (including Past and Future Service Credit) as of July 31, 1997, a

benefit equal to (i) the number of years of service you earned under the

former Local 294 Plan over 20 years, multiplied by (ii) the amount

determined under (1) above, multiplied by (iii) 2-1/2%.

plus

(3) A Future Service Benefit for each year of Future Service Credit on or after

December 31, 1996 as determined under this Plan’s formula (see applicable

Alternative Schedule in this booklet).

Former Local 478 Plan

If you are a former Local 478 Plan participant and you became an active participant in this Plan based on the

special participation rule described above, your Normal Pension will be determined as follows:

(1) A past service benefit equal to $55 ($45 for persons classified as “Plan C”

participants under the former Local 478 Plan) multiplied by the years of credited

service you accrued under the former Local 478 Plan before to January 1, 2000, not

to exceed 35.

plus

(2) A future service benefit equal to $100 ($90 for persons classified as “Plan C”

participants under the Local 478 Plan) multiplied by the years of Future Service

Credit accrued after December 31, 1999 and before January 1, 2005.

plus

(3) A Future Service Benefit for each year of Future Service Credit after December 31,

2004 as determined under this Plan’s formula in effect for each such year (see

applicable Alternative Schedule in this booklet).

Former Local 264 Bakery Plan

If you are a former Local 264 Bakery Plan participant and you became an active participant in this Plan

based on the special participation rule described above, your Normal Pension will be determined as follows:

(1) A past service benefit equal to $35 multiplied by the number of years of credited

service accrued under the Local 264 Bakery Plan, not to exceed 35.

plus
DB1/ 72954048.23 98

(2) A future service benefit for each year of Future Service Credit after December 31,

1999 and prior to January 1, 2004 equal to $65, or if more, the amount determined

under this Plan’s formula in effect for each such year.

plus

(3) A Future Service Benefit for each year of Future Service Credit after December 31,

2003 and prior to January 1, 2011 equal to $65, or if more, the amount determined

under this Plan’s formula for each such year. For each year of Future Service Credit

earned after December 31, 2010, the future service benefit will equal the amount

determined under this Plan’s formula for each such year (see applicable Alternative

Schedule in this booklet).

Former P&C Plan

Driver or Maintenance Worker

If you are a former P&C Plan participant who was a driver or maintenance worker (as set forth in Exhibit A

to the P&C Merger Agreement) and you became an active participant in this Plan based on the special

participation rule described above, your Normal Pension will be determined as follows:

(1) A past service benefit equal to $60 multiplied by the number of years of credited

service accrued under the P&C Plan.

plus

(2) A future service benefit equal to $65 multiplied by the number of years of Future

Service Credit accrued between January 1, 2001 and December 31, 2010. For each

year of Future Service Credit earned after December 31, 2010, the future service

benefit will equal the amount determined under this Plan’s formula for each such

year (see applicable Alternative Schedule in this booklet).

If you have 6,000 hours of contributions to this Plan, your monthly amount of Normal Pension is equal to the

following:

(a) A past service benefit equal to $65 multiplied by the number of years of credited

service under the P&C Plan plus the years of Future Service Credit accrued under

the Plan up to the date on which you attain 6,000 hours of contributions.

plus

(b) A future service benefit for each year of Future Service Credit accrued after the date

on which you attain 6,000 hours of contributions equal to the amount determined

under this Plan (see applicable Alternative Schedule in this booklet).

After you have 6,000 hours of contributions to this Plan, if contributions were made under this Plan at a

contribution rate sufficient to cause the benefit factor to exceed the benefit factor in (a) above ($65), the

higher benefit factor will be used in (a) for all years of credited service under the P&C Plan and any years of

Future Service Credit under this Plan prior to the date you accumulate 6,000 hours of contributions and prior

to January 1, 2011.
DB1/ 72954048.23 99

Recycling Center Worker

If you are a former P&C Plan participant who was a recycling center worker (as set forth in Exhibit A to the

P&C Merger Agreement) and you became an active participant in this Plan based on the special participation

rule described above, your Normal Pension equals:

(1) $50 multiplied by the sum of the number of years of credited service accrued under the P&C

Plan and the number of years of Future Service Credit accrued between January 1, 2001 and

December 31, 2010;

plus

2) A future service benefit for each year of Future Service Credit after December 31, 2010

equal to the amount determined under this Plan’s formula for each such year (see applicable

Alternative Schedule in this booklet).

PTC Plan

If you were a participant in the former PTC Plan, your Normal Pension for a P & C Maintenance Employee

will be determined as follows:

(1) A past service benefit equal to 110% of the P & C Maintenance Employee’s accrued

monthly benefit under the P & C Maintenance Plan as of March 31, 2002, where the accrued

monthly benefit is determined by converting the cash balances under the P & C Maintenance

Plan as of March 31, 2002 into a monthly benefit using the 30-year Treasury rate for August

2001 and the mortality table specified in Code section 417(e) in effect on March 31, 2002.

plus

(2) A future service benefit equal to $60 multiplied by the number of years of Future Service

Credit accrued during the period beginning April 1, 2002 and ending March 31, 2005.

If you were a P & C Maintenance Employee on behalf of whom a Contributing Employer has continuously

made contributions from April 1, 2002 through April 1, 2005, the monthly amount of your Normal Pension

will be determined as follows:

(1) $60 multiplied by the number of years of credited service accrued under the P & C

Maintenance Plan plus the number of years of Future Service Credit accrued under

the Plan through March 31, 2005.

plus

(2) A future service benefit for each year of Future Service Credit after April 1, 2005

equal to the amount determined under this Plan’s formula for each such year (see

applicable Alternative Schedule in this booklet).
DB1/ 72954048.23 100

Former Local 264 Brewery Plan

If you were an active participant in the Local 264 Brewery Plan as of December 31, 2000, and you became

an active participant in this Plan based on the special participation rule described above, your Normal

Pension will be determined as follows:

(1) A past service benefit equal to 120% of your monthly pension benefit determined

under the Local 264 Brewery Plan as of December 31, 2000.

plus

(2) A future service benefit for each year of Future Service Credit beginning after

December 31, 2000 and ending December 31, 2010 equal to 1.1% of the employer

contributions required to be made on your behalf for that year. The 1.1% shall

increase by 0.1% for 2010. For each year of Future Service Credit earned after

December 31, 2010, the future service benefit will equal a percentage (determined

by this Plan’s provisions - see applicable Alternative Schedule in this booklet) of the

employer contributions required to be made on your behalf for the year.

Former Local 791 Plan

If you were an active participant in the Local 791 Plan as of April 30, 2004, and you became an active

participant in this Plan based on the special participation rule described above, your Normal Pension is

determined as follows:

(1) A past service benefit equal to $70 multiplied by the number of years of credited

service accrued through April 30, 2004.

plus

(2) A future service benefit for each year of Future Service Credit beginning after

May 1, 2004 equal to the amount determined under this Plan’s formula for each such

year (see applicable Alternative Schedule in this booklet).

Under the former Local 791 Plan, you also had a right to receive an unreduced pension after 25 years of

service (the “25 Year Rule”), which accrued at a rate of $60 per year of credited service. However, as of

January 1, 2011, the types of pension benefits that are you eligible for are governed by the Rehabilitation

Plan. (See “What Types Of Pensions and Benefit are Provided by the Plan” for more information).

Former Local 264 IRP

If you were an active participant in the Local 264 IRP as of December 31, 2005, your Normal Pension will

be determined as follows:

(1) A past service benefit equal to your benefit earned under the former Local 264 IRP

as of December 31, 2005.

plus
DB1/ 72954048.23 101

(2) A future service benefit for each year of Future Service Credit earned on or before

December 31, 2003 equal to 2.6% of the employer contributions required to be made

on your behalf for that year.

plus

(3) A future service benefit for each year of Future Service Credit earned on or after

January 1, 2004, as determined under this Plan’s formula in effect for each such year

(see applicable Alternative Schedule in this booklet).
DB1/ 72954048.23 102

APPENDIX B - MINIMUM BENEFIT FACTOR TABLE 1

The information in this Minimum Benefit Factor Table 1 describes the Benefit Factors applicable to you if:

 you were an active participant on and after April 1, 2001;

 a Contributing Employer is required to make contributions to the Plan on your behalf on or after

April 1, 2001; and

 you did not incur a Break in Service Year in 2000.

Additionally, if you did incur a Break in Service Year in 2000, your Benefit Factor is still determined under

this Minimum Benefit Factor Table 1 if you accumulated the minimum service hours, after March 31, 2001,

at the corresponding employer contribution rate listed in this Minimum Benefit Factor Table 1.

EMPLOYER CONTRIBUTION RATE MINIMUM SERVICE

HOURS AT

HIGHEST

CONTRIBUTION RATE

BENEFIT FACTOR FOR

APPLICABLE YEARS OF

SERVICE CREDIT**

At Least But Less Than

$0.000 $0.075 8,000 $1.50

$0.075 $0.150 8,000 $3.00

$0.150 $0.225 8,000 $5.00

$0.225 $0.250 8,000 $6.00

$0.250 $0.300 8,000 $7.00

$0.300 $0.325 8,000 $9.00

$0.325 $0.350 8,000 $10.00

$0.350 $0.550 8,000 $12.00

$0.550 $0.700 8,000 $16.00

$0.700 $0.850 8,000 $20.00

$0.850 $1.150 8,000 $35.00

$1.150 $1.750 8,000 $65.00

$1.750 $2.350 2,000 $75.00*

$2.350 $4.095 2,000 $100.00*

$4.095 and higher 2,000 $110.00

$4.095 and higher 4,000 $120.00

$4.095 and higher 6,000 $150.00

* To be eligible for these benefit factors, you must either (1) be at the corresponding employer contribution

rate on April 1, 2001, not have incurred a Break in Service Year in 2000 and have accumulated at least 2,000

minimum service hours at that employer contribution rate; or (2) subsequently reach that employer

contribution rate level and accumulate at least 2,000 minimum service hours at that rate.

** If the employer contribution rate of your Contributing Employer is reduced, you will only be eligible to

receive the Benefit Factor associated with the reduced employer contribution rate for the Plan Years in which

such reduced contributions are made
DB1/ 72954048.23 103

APPENDIX C - MINIMUM BENEFIT FACTOR TABLE 2

The information in this Minimum Benefit Factor Table 2 is applicable to all retirements not described in

Appendix B (“Minimum Benefit Factor Table 1”).

SERVICE HOURS

AT CONTRIBUTION

RATE*

FOR RETIREMENTS

EFFECTIVE**

BENEFIT FACTOR

FOR EACH YEAR

OF SERVICE

CREDIT***

At Least But Less Than

$0.000 $0.075 4,000 09/01/96 to 12/31/97 $1.50

$0.000 $0.075 8,000 01/01/98 to 03/31/01 $1.50

$0.075 $0.150 4,000 09/01/96 to 12/31/97 $3.00

$0.075 $0.150 8,000 01/01/98 to 03/31/01 $3.00

$0.150 $0.225 4,000 09/01/96 to 12/31/97 $5.00

$0.150 $0.225 8,000 01/01/98 to 03/31/01 $5.00

$0.225 $0.250 4,000 09/01/96 to 12/31/97 $6.00

$0.225 $0.250 8,000 01/01/98 to 03/31/01 $6.00

$0.250 $0.300 4,000 09/01/96 to 12/31/97 $7.00

$0.250 $0.300 8,000 01/01/98 to 03/31/01 $7.00

$0.300 $0.325 4,000 09/01/96 to 12/31/97 $9.00

$0.300 $0.325 8,000 01/01/98 to 03/31/01 $9.00

$0.325 $0.350 4,000 09/01/96 to 12/31/97 $10.00

$0.325 $0.350 8,000 01/01/98 to 03/31/01 $10.00

$0.350 $0.550 4,000 09/01/96 to 12/31/97 $12.00

$0.350 $0.550 8,000 01/01/98 to 03/31/01 $12.00

$0.550 $0.700 4,000 09/01/96 to 12/31/97 $16.00

$0.550 $0.700 8,000 01/01/98 to 03/31/01 $16.00

$0.700 $0.850 4,000 09/01/96 to 12/31/97 $20.00

$0.700 $0.850 8,000 01/01/98 to 03/31/01 $20.00

$0.850 $1.150 4,000 09/01/96 to 12/31/97 $35.00

$0.850 $1.150 8,000 01/01/98 to 03/31/01 $35.00

$1.150 $3.695 4,000 09/01/96 to 12/31/97 $60.00

$1.150 $3.695 8,000 01/01/98 to 03/31/01 $65.00

$3.695 and higher 4,000 09/01/96 to 12/31/96 $60.00

$3.695 and higher 4,000 01/01/97 to 12/31/97 $70.00

$3.695 and higher 8,000 01/01/98 to 12/31/98 $70.00

$3.695 $4.095 8,000 01/01/99 to 03/31/01 $70.00

$4.095 and higher 2,000 01/01/99 to 03/31/01 $90.00

$4.095 and higher 4,000 01/01/99 to 3/31/01 $110.00

$4.095 and higher 6,000 01/01/99 to 12/31/00 $120.00

$4.095 and higher 6,000 01/01/00 to 03/31/01 $150.00

* The employer contribution rates applicable to retirements before January 1, 1998 are the highest average

rates of the employer contributions in effect for the applicable minimum service hours. The employer
DB1/ 72954048.23 104

contribution rates applicable to retirements on or after January 1, 1998 are the highest rates of employer

contributions for the applicable minimum service hours.

** These benefit factors only apply if you (i) were actively at work on September 1, 1996; (ii) have not had a

Break-in-Service Year as of January 1, 1997; or (iii) were an Active Participant on and after January 1, 1999

and retired effective between January 1, 1999 and March 31, 2001. If you do not satisfy any of these criteria

and you received Future Service Credit for employer contributions made before January 1, 1997, the benefit

factor for contributions made on your behalf by a Contributing Employer on or after January 1, 1997 shall be

determined in accordance with the minimum service hours requirement.

*** If the employer contribution rate of your Contributing Employer is reduced, you will only be eligible to

receive the benefit factor associated with the reduced employer contribution rate for the Plan Years in which

such reduced contributions are made.