How Are Investment Gains and Losses Allocated to My Account?

Investment gains and losses are allocated to your Individual Account on a daily basis. Written statements from John Hancock Retirement Services, LLC are issued to all participants four times a year reflecting Individual Account balances as of March 31, June 30, September 30 and December 31. These quarterly statements will reflect investment gains and losses as well as administrative expenses for the preceding three months. Operating Engineers Local 12 has agreed to cover the administrative expenses of the Trust for the first twelve months of its operation, July 1, 2018 through June 30, 2019. Thereafter the Board of Trustees, based upon expert advice received from the Plan’s certified public accountant, shall establish a monthly charge which shall be deducted from each Individual Account on a monthly basis and used exclusively to pay the reasonable and necessary expenses of operation of the Trust and Plan. Any such amount is subject to change from time to time as approved by the Board of Trustees.

Revised 08/2021