Examples of suspension provisions that dont satisfy DOL Reg. Jack Witt - Administrator - Teamsters Local 705 Pension and Health Jp,Hc7MVSH6+,)1%p The plan may not allow discretion for contributions to the plan, and the contribution must be the employees' decision. If there is a discrepancy between the wording here and the documents that 0000046719 00000 n B. of T. PENSION FUND 1645 WEST JACKSON BLVD Tel 312-738-2811 CHICAGO, IL 60612-3227 SUITE 700 Fax 312-738-0607 LOCAL 705, INTERNATIONAL BROTHERHOOD OF TEAMSTERS PENSION FUND NOTICE OF PLAN STATUS April 2021 To Participants, Benefciaries, Participating Unions, and Contributing Employers: . Full details are contained in the Plan Documents that establish the Plan provisions. Later of: January 1, 2002, or the last CBA termination date on or after EGTRRAs enactment (May 26, 2001). The plan document must specify the aggregation of benefits/contributions in the multiemployer and single-employer plan for it to be effective since it is optional. %PDF-1.3 % A pension depends on the number of years of credited service, so extra months of work automatically yield a higher monthly pension.) Vito Contilli turned 65, the "normal retirement age" of the Teamsters Local 705 Pension Fund, on August 30, 1995. which funds the benefits under the Local 705, International Brotherhood of Teamsters Pension Plan (the "Plan"), was certified by its actuary to be in critical status (also known as the "Red Zone") for the plan year beginning January 1, 2015. To determine if the company has properly remitted to the Health & Welfare Fund on your behalf, you should contact the Eligibility Department at 1-800-523-2846 ext. Also see IRM 4.72.14, Employee Plans Examination Guidelines - Multiemployer Plan Examination Guidelines. However, multiemployer 401(k) plans, like others, must provide a method for identifying whether Highly Compensated Employees (HCEs) participate in the plan. His reply brief does discuss forfeiture-but too late, and that brief misses the point. Plans must diversify employer securities in some DC plans. To help us improve user experience, we use Matomo to analyse how visitors interact with the website.
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