SUMMARY PLAN DESCRIPTION
2002 EDITION
Work in Non-Signatory Employment
You perform work in Non-Signatory Employment if you perform
at least one Hour of Work in the Sheet Metal Industry that is not covered by a
collective bargaining agreement between the Union (SMWIA) and an Employer on or
after September 1, 1988. When you work in Non-Signatory Employment, the
following conditions will apply to your pension benefits:
§
You will lose all Past Service Pension Credit for the purpose of
calculating your benefit; however, this loss will not decrease the Normal
Retirement Pension benefit you had accrued as of August 31, 1988 or cause a loss
of any vested benefit accrued before you performed such Non-Signatory
Employment.
§
Any accrual you earned after September 1, 1988 will not be used in
determining your initial monthly benefit if you elect early retirement. This
accrual will be delayed six months for any calendar quarter in which you
performed one hour or more of Non-Signatory Employment. However, this benefit
cannot be delayed beyond the Normal Retirement Age.
§
In the event that you have been receiving pension benefits and you
return to work in Non-Signatory Employment, your resumption of payments will be
delayed six months for any calendar quarter in which you perform one hour or
more of such Non-Signatory Employment. This delay is in addition to any other
delays imposed under the Plan for a return to employment after retirement.
§
You cannot retire under a Disability or Industry-Related
Disability Pension.
§
In the event of your death before retirement, no Lump Sum Death
Benefit will be payable to your beneficiary.
If you performed work in the Sheet Metal Industry not
covered by a collective bargaining agreement with the Union on or after
September 1, 1988, the conditions listed above will apply. However, you can
recover your previous status if you return to Covered Employment with the Plan
and earn months of Future Service Pension Credit that equal the number of
calendar months in which you worked at least one hour in Non-Signatory
Employment. This opportunity to restore previous status is available only once.
