The Annuity Plan is an individual account plan. Accounts are fully vested at all times. Each participant receives credit for mandatory employer contributions made on his or her behalf, and any elective contributions. Each participant also receives the income and/or losses on his or her account, less a share of the Plan's expenses. The Plan is operated as an "ERISA 404(c)" plan. This means that participants may direct the investment of their accounts among the investment options selected by the Board of Trustees. Participants' accounts receive only the income and/or losses of the investments selected by the participants, but otherwise remain part of the Plan and subject to all Plan rules, including the Plan's distribution rules. Participants may borrow against their accounts, and participants whose accounts include elective "401(k)" contributions may receive hardship distributions, if they qualify. Other distributions from the Plan require a qualifying separation from service or retirement from the Plumbing and Pipefitting Industry.

Forms of Benefit

At the election of each participant, benefits are paid in the form of a lump sum or monthly installments. You may also elect to receive a partial lump sum and installments when your benefits begin, or additional lump sum payments after installment benefits have begun, or you may change the amount of your installments. However, if you elect to receive benefits in more than one form, to receive an additional lump sum, or to change installments, you are responsible for an administrative fee, which is currently $25.

Investment Management of Your Account

The Plan's assets are maintained entirely in individual participant-directed accounts (also called "self-directed accounts" or "ERISA Section 404(c) accounts") at Empower.  Participants are responsible for deciding how to invest their accounts among the investment options selected by the Board of Trustees.

You may direct the investment of the funds in your account online at Empower using the Plan number 330217-01.  For their contact information, please see details below.

There is no limit on the number of times you may transfer funds within your account and no fee for making these transfers, unless otherwise indicated in the prospectus of the Empower fund. However, the Trustees recommend that you consider a long-term perspective in making your investment decisions. Empower provides customer service with a team of specially trained consultants and investment advice through My Total Retirement or Online Advice.  Please note that fees may apply and returns are not guaranteed.  In addition, there are classes on planning your retirement offered from time to time at the Union Hall to help you make decisions about your Empower account.

Empower
1-833-569-2433

1-833-569-2433 (Dial 2 for Spanish)

1-303-737-7249 (Outside of the United States)

Representatives are available Monday – Friday 5:00 a.m. to 7 p.m. (PST) and Saturday 6 a.m. to 2:30 p.m. (PST)

Log in to check your balance and keep track of your savings:

Fund Office Contact Information

For distribution requests, change of address, and questions on hours or contributions, contact:

Health Services & Benefit Administrators
4160 Dublin Boulevard, Suite 400
Dublin, CA 94568-7756
Phone: (866) 265-6402

ua159benefits@hsba.com