Nokia Retirement Income Plan - BenefitAnswers Plus
Nokia Retirement Income Plan
Summary Plan Description
For Retired Participants, Beneficiaries, and
Alternate Payees in Payment Status
January 2019
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Nokia NRIP, 1/2019
Table of Contents
Page
Introduction .........................................................................................................................1
Terms You Should Know ......................................................................................................2
What Happens To My Plan Benefit When I Die? ...................................................................5
If You Die After Commencing Your Plan Benefit (and You Elected an Annuity
Form of Payment) ................................................................................................................... 5
What Happens To My Plan Benefit If I Get Divorced? ..........................................................6
What Happens To My Plan Benefit If I Am Rehired By The Nokia Group?............................7
If You Elected an Annuity Form of Payment and are Rehired by a Nokia Group
Company .................................................................................................................................. 7
If You Took a Lump-Sum Distribution of Your Plan Benefit and Are Rehired by
the Plan Sponsor or an Affiliate that Participates in the Plan .......................................... 7
Claims And Appeals ..............................................................................................................9
How to File a Claim ................................................................................................................. 9
How to File an Appeal .......................................................................................................... 10
Your Rights Under ERISA ................................................................................................... 12
Your Right to Receive Information About the Plan and About Your Benefits
Under the Plan...................................................................................................................... 12
Your Right to Prudent Actions by the Plan¡¯s Fiduciaries ................................................ 12
Enforcing Your Rights .......................................................................................................... 13
Assistance with Your Questions ........................................................................................ 13
Other Information About The Pension Plan ...................................................................... 14
The Official Plan Documents Are Controlling .................................................................. 14
The Company Has the Right to Amend, Modify or Terminate the Pension Plan ........ 14
Benefits Are Generally Not Assignable ............................................................................. 15
Nokia NRIP, 1/2019
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Table of Contents
Benefits Are Guaranteed, Up to Certain Limits, by the Pension Benefit
Guaranty Corporation .......................................................................................................... 16
Administrative Information ............................................................................................... 17
Important Contacts............................................................................................................ 19
Page ii
Nokia NRIP, 1/2019
Introduction
Nokia¡¯s benefit programs can be an important part of your financial security. Your benefit
under the Nokia Retirement Income Plan (the ¡°Pension Plan¡± or the ¡°Plan¡±), when combined
with Social Security and other retirement savings, provides you the opportunity to build a
balanced retirement portfolio that can help you meet your long-term financial and
retirement goals.
This booklet--called a summary plan description (¡°SPD¡±)--is intended to summarize specific
terms of the Plan that apply to Plan Participants, Beneficiaries, and Alternate Payees in
payment status. This SPD presents information regarding the Plan as of January 1, 2019. It
is for informational purposes only. The actual terms of the Plan are reflected in the official
Plan document, a copy of which can be obtained by writing to the Plan Administrator (see
¡°Important Contacts¡± later in this SPD). Every care has been taken to ensure that this
summary is accurate. In the event of a conflict between this document and the terms of the
official Pension Plan document, the official Pension Plan document will control.
Note: This document relates only to the Nokia Retirement Income Plan and only to
Participants, Beneficiaries, and Alternate Payees who are in payment status. In this regard,
it only provides information relevant to such status. For a summary of the Plan¡¯s provisions
relating to other issues (for example, the Plan¡¯s terms regarding service accrual, vesting,
breaks in service, or available payment forms), consult the Summary Plan Description that
was available to you at the time you terminated from employment. Note also that there are
separate SPDs for Participants in the Pension Plan who are still actively employed by Nokia
of America Corporation (the ¡°Company¡±) and any affiliates that participate in the Plan and
also separate SPDs for other Company-sponsored pension plans.
The Company expects to continue the Plan but reserves the right to
amend, modify, or terminate it, in whole or in part, at any time by
resolution of the Company¡¯s Board of Directors or its duly authorized
delegate(s). Note: if the Plan were to be terminated, there are
specific rules under federal law that must be followed.
Nokia NRIP, 1/2019
Page 1
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