Defined Contribution Pension

Your Defined Contribution Pension Plan is an individual account plan established in your name and funded entirely by employer contributions. You are 100% vested in your account at all times.

Your employer makes monthly contributions on your behalf based on the number of covered hours you have worked. All contributions are invested by investment managers engaged by the Board of Trustees. An investment consultant reviews the performance of each investment manager on a regular basis.

Quarterly Statements

All accounts are reconciled and valued at the end of each calendar quarter by the Fund’s Plan auditor. Once reviewed and verified by the Plan auditor, investment earnings are allocated to each participant’s individual account by the administrator. After each quarter has been completed, you will be sent your quarterly benefit statement with details concerning your own account. The statement includes information on your contributions, investment gains or losses, expenses and payouts.


You can receive a distribution from your account, pending approval by the Board of Trustees, when you experience one of the following events:

  • Retirement
  • Disability
  • Death
  • Severance of employment, provided you meet certain conditions.
  • Hardship

Your defined contribution plan benefits can be paid in monthly installments, in a lump sum distribution, or rolled over to an I.R.A. or another qualified Plan. These distributions are taxable. If under age 59½, you may be subject to early distribution tax penalties if your distribution is not rolled over to a qualified I.R.A. Please note that if you roll your distribution over to a Roth I.R.A., the distribution is taxable at the time of the rollover.

The amount of your Defined Contribution Plan benefit is based entirely upon the contributions paid on your behalf and the investment earnings, less expenses, of the Plan.