Defined Contribution Plan Benefit Summaries

The Defined Contribution Plan is a money purchase plan and was adopted effective June 1, 2018. It is a Multiemployer, collectively bargained plan. The Plan is funded from Employer contributions. It is a defined contribution plan which means that benefits at retirement or early withdrawal, if applicable, are determined by the amount of total contributions  made on your behalf into the plan plus or minus investment returns or losses net of investment fees, minus your share of the Plan’s operating expenses.

You are immediately vested with the first dollar that is contributed to the plan on your behalf.

Individual Accounts are established under the Plan on the books of the record keeper, John Hancock.

This plan does not permit Loans or Hardship Withdrawals.

John Hancock will provide quarterly statements showing detailed Employer Contribution information and the value of your Account as of the end of each quarter. You may also access your account online by logging on to John Hancock at www.johnhancock.com.