FREQUENTLY ASKED QUESTIONS PENSION WORKS

[Pages:1]HOWHOYWOUYROUR PENPSEINOSNIOWNOWRKOSRKSKER-BLACKSKEMRI-TBHLAPCEKNSSMI ITHPENSI

BOILERMA BOILERMA

ON TRUST

ON TRUST

EMPLOYERS

EMPLOYERS

agCreoeTnmhtreeancUttnsoirtoshna/aEgtamCrfneuopdenTnlmohPdtBryaeelatearnhcUtcrttiesknscosiniBrtpomsheoan/agiEttltaioemhnfnrtugPpmidaneltoaPdneykasteerihotrriesncinBTpeoraugitlsioentrtgmiataekeCrpoenntrsaiofcutnoncrdso/mnECtmoporinenbptntulhrosatliyiyofcoeutnnronsscrdsopt/monaEytmorinbptulhotlyiyoenrss

pay to

Blacksmith Pension Trust

UNION UNION

Active members generate Active membpeersngsieonnecroatnetributions

pension contripbeurthioonusr worked

per hour worked

SION BOARSDIOONFBTORAURSTDE OF TRUSTE

ES

PEN PEN

ES

A TAFT-HARTLEY TRUST is a

A TAFT-HARTLbEeYnTeRfitUfSuTndiseastablished by

benefit fund emstaubltliipshleeedmbpyloyers and a union.

multiple emplIotyiserms oanstdcaomunmioonn. among

It is most commcoonnstarumcotinogn unions where

construction uwnoiornkesrws fhrerqeuently work for

workers frequemnotlryewthoarnk ofonre contractor as more than onethceoyngtroacfrtoomr ajsob to job. A they go from jboboatrodjoofbt.rAustees with an equal

Employer Committee Employer Comsmeliettcetes Pension

selects PensionTrustees

board of trusteneusmwbitehr oafneemqpulaolyer and union

Trustees

number of emrpelporyeesreanntadtiuvnesiojnointly

representativeospjoeirnattelythe fund.

operate the fund.

International President International PsreelesicdtsenPtension

selects PensioTnrustees Trustees

INVESTMENT

ACTUARIES

INVESTMENTS

TTEUarpseemnHRenslUneEipiponcsSolPnitdoToinEnyerEnNseepgEi.prSbeSTirrIninhOeelivisdesptNeeymierrsnTTEUarpstaenBttredaecmnHRsteomnatOsdlauetUnecEiupbipotoneeAtnkcsiSaioolPvvnntieitdoRuTnroainedeEtsinyeDrpEtgensrNsyeceipgiEs.sivn.oopfOrSbweTeSTeuticfnrrInionehFhsOenleliisuvistdeespdtatauNhedeymhyiennrlrsineetlnenBtadtadeaastomtvlOrdangueyeebotnezeAttaissioevvntleRtu,aedemtstDptshryciies.vneooOweTnecfnhehFtslisusteeatu,hdahynulletCletdsaeahihrngnaeoCtcagstIshtlOriNh,henoeieeNVnavfcsvteoEtSbeheswSmUyteeTtEmiLmhtxlMRfTlhupeeMAbeCeEnengneNhANrdBatosdtosTCKcTotsatsShtOriaEhlhenoesirReeNnavfcdsvteotS,beNheswmUyteetAEmiLmhtxlRfTlThupeeMAbaeteIneMnogOnneNArdBtosddotsTkNKotsaneSiaElAdAeisrtRedpCLon,TrNFptUfUilAufaAynnTRasdtIMotoOnIrEhndaokNSetnetieaAdreiagtlepLtocihnerkFptsfUilufaynnsdotrhnaettearagltciheks

tracking fund ionfvtehsetmfuenndt,sa, nudsinengsuring proper

MinoInNtreuVysEatSciTscMuinMmEivnoNetuontsTlretaSeueytasedatrdnciscauinrmevteuuslrtanetedd to earn a return

THE NATIONAL FUNDS OFFICE administers all Boilermaker Trust THE NATIONAL FUNDS OFFICE Funds including the Pension Trust. administers all Boilermaker Trust Business partners are used to Funds includipnrgoctehsesPpeennssiioonnTcrhuesct.ks and Business partdniestrrsibaureteutsoedretcoipients. process pension checks and distribute to recipients.

BOIL BOIL

NDS NDS

actuaries to anraelpyozertitnhge thoeaallltghovernment

of the fund, anadgenscuiersincghaprrgoepdewr ith pension

reporting to alol vgeorvseigrhntminecnltuding the U.S.

agencies chargTeredawsuirthy Dpepnasirotmn ent. They are

oversight inclutdhienogntlhyeeUn.tSit. y allowed by law to

BUSINESS

Treasury Depamrtmakeencth. Tahnegyesartoe the plan under the only entitythaellToawfte-dHabrytlleaywFutond rules set make changesfotroththbeyptlhaenLuanbdoerrManagement the Taft-HartleRyelFautinodnsruAlectsosef t1947. forth by the Labor Management Relations Act of 1947.

PARTNERS BUSINESS FOR PENSION PARTNERS PROCESSING FOR PENSION PROCESSING

PENSION RECIPIENTS PENSION

RECIPIENTS

FREQFUREENQTULEYNATSLKYEADSQKEUDESQTUIOESNTSIONS

Q. Q. What isWthheatroislethoef rtohleeIonftethrneaIntitoenrnalaitniotnhael PinetnhseioPneTnrsuiostn?Trust?

A. A.T(soehrrevaeInnyatesoT(shrtotenharhrruaseveastneIrnitnooeTyatnaeesvoafsrottt.nlr-htTuhHaeehstaaroitesoreTntnInaelneaafosttny.le-TrhyHtrohrnaaclueesahrsttInaitlnineo)notybngetrhtreoaerneylsluea.oPosTtirntipnheo)deesbntirhaedaEaesylmetsoPinooipgrntpnelndodesoiiyroandafesegettesishnoiugRntennneodtiotiohtonifrnseegeteshmPrureneevnepoentinrohtseatniseossIenePrnarecnevTpottenrramrusueatisisossevttenaeeSneseTttrrcatauuoutnsisrvtdtieteyes

to and Act

has no v(oEtReISoAn) ganoyvecrhnasntgheeso. pThereaEtimonpolofyteheeRPeetnirseiomneTnrut sInt caonmd eprSoetceuctrsitpyaArctitcipants.

(ERISA) governs the operation of the Pension Trust and protects participants.

Who is responsible for making plan changes?

Q. Who is responsible for making plan changes? Q. The Board of Trustees has sole authority and responsibility to make plan changes.

A.The BoaArdnoefqTuraulsnteuemsbhearsosfoelemapulothyoerri-tsyelaencdterdesapnodnusnibioilnit-yaptopominatkeedptlraunstceheasnogveesr.sees the A. An equapl ennusmiobnetrruosfteamndplmoyaekre-ssealdecjutestdmaenndtsuansiofinn-aanpcpiaolicnotenddittriounstsewesarorvaenrts. eNeesitthheer the

pensionIntrtuesrnt aatniodnmalaPkreessiaddejnutstnmorenthtes aesmfipnloanyecriaslccaonncdhitainognes twhaerrpalannt. iNneainthyewr athyeor directly Internatiinofnluael nPrceestidheendtencoisriotnhseoefmthpelotyruesrsteceasn. Icnhfaanctg, ethtehyeaprleafnoirnbiadndyewn abyy olarwditroecdtolyso. influence the decisions of the trustees. In fact, they are forbidden by law to do so.

Where do pension contributions go?

Q. Where do pension contributions go? Q. For each hour worked, a participant earns a contribution towards the pension. Each

A.For eachmhoonutrhw, eomrkpelody, aerpsaarrteicriepqaunitreedartnossaubcmonitrpibayumtioenttsotwoatrhdesFtuhnedpseOnfsfiiocne.foEar cthose A. month, ehmouprlso. yTehresFaurendresqOufifriceedatcocsuumbumlaitepsatyhmoseentpsatyomtehnetFsuandsdOepffiocseitfsotrhtehmosien Bank of

hours. ThLaebFourn. AdspOenffsiicoenapcrcoucmesusliantgescothmopsaenpyatyhmenenctaslcaunldatdesepanodsitdsistbhuermseisntBhaenbkeonfefits to Labor. Aaplleenlisgioibnleprreotcireesessinagndcobmenpeafnicyiatrhiesn. Pcaelncsuiolantecsoanntrdibduitsibounrssneesvtehregboetnoetfihtes tInoternaall eligibtlieonreatliarenedscaanndnobtebnefsicpieanritebs.yPtehnesuionniocnounntrdibeur tainoynscinrceuvmersgtaontcoest.he International and cannot be spent by the union under any circumstances.

What determines the health of the fund?

Q. What determines the health of the fund? Q. Man-hours worked is the sole generator of contributions. When man-hours don't

A.Man-houmresewtoerxkpeedctisattihoenss,otlheegreenmearyatboer oafschoonrttfraibll,uatniodntsh. We rhaetinomofamn-ohnoeuyrscodmonin'tg in to A. meet exmpeocnteaytiognosin, tghoeuret mmaayy dbreoap.sAhoprlatfnaltlh, aant dis t8h0epreartcioenotfomr omnoeryecfuonmdiendg iisnctoonsidered

money ghoeianltghoy.uItnmveasytmderonpt .reAtuprlanns athlsaotiims 8p0acptearcpelannt'sohr emaoltrheafnudndweidll risisceoonrsfiadlel breadsed on healthy.fIinnvaensctimal emnatrrkeettusr. ns also impact a plan's health and will rise or fall based on financial markets.

What can be done to strengthen the fund?

Q. Q. What can be doEnveerytomsitsrseedngotphpeonrtuthneityfufonrdw?ork (absenteeism, no-shows, early quits) results in A.Every mliossset dpeonpspioonrtcuonnittyribfourtiwonosrk. M(aebmsebnetresesihsomu,lndom-sahxoimwisz,eetahrelyirqmuiatns)-hreosuurlstswihnerever

A. lpbooesrstsspiwbelinellpbis.nbioeGoietrsrnissaociwtcbwoiovlniielnenlt.srbtgGirfbeiorubuocrnuwtoriitoenniioncntgrrng.iumbsTui.uthenMmtemiioneeIbnnmgnet.tmebTrasrheennhremdaispItbsoniwohertgenorislraaulnhnlalaidiEplztsxiimowonengcasiltuaxltrliatoemiElvnsbxeiogzeriteCcsnhtuogtretheuinuvennpeitgcrhtiCmmlheoheeafuaunmnnsn-tbclhhdaieloe,urhausnfashurcssinmhplwdaeon,udhrauneemsmcrmmehabveejoeoedmrrrresm.-maejomr -

initiatives for recruitment and organizing to bring up membership numbers.

Q. Will the pension be there for me?

Will the pensioTnhbiseqtuheestrieonfoisromftee?n asked not only for pensions but for Social Security as well.

Q. A. The answer is that nobody can guarantee the future. However, keep in mind that This quetshteioBnoiisleormfteankears-kBeladcknsomt iothnlNy afotiropneanl PsieonnssiobnuTtrfuosrtShoacsianleSveecrumriitsyseads awpeally. ment to A. The answreetirreisetshaantdnbobenoedfyicciaarniegsusainrcaentitesefothuendfuintugrien. H19o6w0e. vTehre, kmeoerpeimn amni-nhdouthrsatthat are the Boilegremnaekraetre-Bd,latchkesmmoitrheNseactuiorneatlhPeepnesniosnioTnruwsitllhbaes. never missed a payment to retirees and beneficiaries since its founding in 1960. The more man-hours that are generated, the more secure the pension will be.

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