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

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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

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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

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