Youngstown Pension

The Pension Fund was established as a result of collective bargaining agreements between the employers and the Union. It is financed by employer contributions. Employees do not and may not contribute to the Plan.

A Board of Trustees made up of representatives of the Union and representatives of the employers administers the Pension Fund. They serve without compensation. The Pension Fund is a separate trust fund that pays the benefits provided under the Plan. The Plan has been qualified by the Internal Revenue Service, as amended, to comply with the Employee Retirement Income Security Act of 1974 (ERISA) and subsequent legislation.

Only the full Board of Trustees is authorized to interpret the Plan of benefits described here. No employer or Union nor any representative of any employer or Union in such capacity, is authorized to interpret this Plan, nor can any such person act on behalf of the Trustees. If you wish any information regarding this Plan, such information must be communicated to you in writing signed on behalf of the Board of Trustees either by the Trustees, or, as authorized by the Trustees in the writing signed by the Fund Manager. The Trustees reserve the rights to amend, modify, discontinue, and/or terminate all or any part of the Plan when conditions so warrant.

The information provided here is a general explanation of the Pension Plan document only and does not cover all the details of the Plan. In the event of any conflict between this booklet and the Pension Plan document, the Plan document will be used to decide the conflict.

Beneficiary: A person other than a Pensioner who is receiving benefits from the Fund because he/she has been designated to receive benefits by a participant.

Contributing Employer: An employer who is bound by a collective bargaining agreement with the Union requiring that contributions be made to the Pension Fund.

Contribution Period: The time after October 31, 1964 during which contributions are made to the Pension Fund by an Employer on behalf of an Employee for work in Covered Employment.

Covered Employment: Employment during the contribution period for which contributions are required to be made to the Pension Fund under the terms of a Collective Bargaining Agreement. Also, employment prior to the beginning of the Contribution Period (November 1, 1964) which could have resulted in contributions to the Fund if it had been performed during the Contribution Period.

Employee: A person performing work for an Employer which is covered under the terms of a Collective Bargaining Agreement or other Agreement requiring contributions to the Pension Fund. The term "Employee" does not include any self-employed person, partner or sole proprietor of a business organization, which is a Contributing Employer.

Normal Retirement Age: Normal Retirement Age means age 65 or, if later, the age of the Participant in the fifth anniversary of his participation in the Fund.

Pension Credit: Credit for work in Covered Employment, which is used to determine a Participant’s eligibility for pension and the amount of the pension. See the section on" Earning Credit For a Pension" for an explanation of the requirements for earning pension credit.

Pensioner: A person who has retired and whom a pension is being paid by the Fund.

Plan Year: The 12-month period from January 1^st through December 31^st. This is the Plan’s fiscal year for accounting and government reporting purposes.

Retirement: The period after you qualify for a pension under the Plan and start to receive monthly pension payments. To be considered retired, certain types of employment are prohibited. This is explained further in the section titled, "Work after Retirement."

Union: Local Union No. 33, Youngstown District, of the Sheet Metal Workers’ International Association.

Vesting Credit: Credit earned through Covered Employment, which determines a participant’s right to receive a pension from the Fund, and which is used to determine is a Participant has a non-forfeitable right to benefit. The requirements for earning Vesting Credit are explained in the section on Earning Credit for Pension.

Once you become a Participant in the Pension Plan, you are eligible to earn pension credits and vesting credit, with which you can earn a right to the benefits provided under the Plan. You become a Participant on the earliest January 1^st of July 1^st following a period of twelve (12) consecutive months during which you completed at least 775 hours of work in Covered Employment. Covered Employment is employment for which contributions must be made to the Pension Fund on your behalf under the terms of a Collective Bargaining Agreement. Once you become a participant, you will also receive credit for the work you performed in Covered Employment before you become a Participant.

For example, if you began working in covered employment in July, 1998 and worked at least 775 hours by June 30, 1999, you would become a Participant in the plan on July 1, 1999, and you would receive a pension credit and vesting service credit for work in Covered Employment prior to July 1, 1999.

Termination of Participation: You will no longer be a participant after the first day of any calendar year in which you fail to complete at least 155 hours of work in Covered Employment. This is called a Break in Service, however your participation is not terminated if you have already acquired the right to receive a pension, either immediately or at a later date.

Re-Employed Participant: If you loose your status as a Participant and then return to work in Covered Employment, you will again become a Participant after completing 775 hours of work in Covered Employment within a calendar year. Your reinstatement will be retroactive to the date you returned to work in Covered Employment. If you have not had a Permanent Break in Service as described in the section titled "Loss of Pension Credit through a Break in Service", pension credits and vesting service you earned previously will also be restored.

The Contribution Period is the time during which an employer contributed to the Pension Fund for work you performed under the Collective Bargaining Agreement.

Pension Credit is earned during the Contribution Period based on the number of hours you worked in Covered Employment, that is, employment for which contributions must be made to the Pension Fund on your behalf under the terms of a Collective Bargaining Agreement. You will earn 1/10^th Pension Credit for each 155 hours of work in Covered Employment. Under this formula, you can earn more than one Pension Credit in a year if you work more than 1,550 hours in Covered Employment in that year at the rate of 1/10^th Pension Credit for each 155 hours exceeding 1,550.

The Fund computes the amount of Pension Credit you have earned by dividing the total number of hours worked during each accrual period by 1,550. A new accrual period begins each time for the benefit amount per pension credit changes.

For example, effective May 1, 1980, the accrual rate increased from $19.00 per Pension Credit to $54.00 per Pension Credit, and was later increased to $73.00 and $79.00 for Pension Credit earned on or after January 1, 1990 and June 1, 1994 for participants other than B workers and Residential Sheet Metal Workers.

Therefore, the time between May 1, 1980 and January 1, 1990 is an accrual period, and all pension credit earned during that period is multiplied by $54.00 when your benefit is calculated.

For example, if you worked 16,275 hours in Covered Employment during the approximate 10 years between May 1, 1980 and January 1, 1990, you earned 10.5 pension credits (16,275 divided by 1,550), resulting in a benefit of $567.00 per month for that accrual period. (10.5 x $54.00).

Pension Credit is earned before the Contribution Period for work you performed in Covered Employment under a Collective Bargaining Agreement. You will be credited with one full Pension Credit for each calendar year in which you were employed in work, which would now be covered under a Collective Bargaining Agreement. For each portion of a year in which you worked in this type of employment, you will be credited with 1/10^th Pension Credit for each 1/10^th Calendar Year in which you were so employed.

HOWEVER, NO MORE THAN TEN (10) PENSION CREDITS WILL BE GRANTED FOR WORK BEFORE THE CONTRIBUTION PERIOD (PRIOR TO NOVEMBER 1,1964.)

It is recognized that in many cases it may be difficult, because of changing employment to establish exactly the amount of Pension Credit earned for employment before the Contribution Period. In determining the amount of Pension Credit earned before the Contribution Period, the Board of Trustees will consider all relevant and material evidence, including evidence of the Union membership or employment by the Union, W2 forms or pay stubs, and statements from Social Security Administration regarding employment during those periods.

Vesting Service is a special test used to determine eligibility for a Deferred Pension.

You receive credit for one (1) Year Vesting Service for each Calendar Year during the Contribution Period in which you worked in Covered Employment for 755 hours or more. Covered Employment is work for an employer participating in this Plan for which contributions are required to be made to the Fund on your behalf. For each 155 hours of work in Covered Employment, you will be credited with 1/5 Years Vesting Service. However, in no event will you be credited with more than one (1) Year of Vesting Service in a Calendar Year.

In addition, of you work for a Contributing Employer in work not covered by this Plan and that non-covered employment is continuous and contiguous with employment with that same employer in Covered Employment, your hours of work in that non-covered employment during the Contribution Period after December 31, 1975 will be counted toward a Year of Vesting Service. This is referred to as "Recognized Non-covered Employment".

Years of Vesting Service are used to determine eligibility for a Deferred Pension, not to determine the amount of a Deferred Pension. The amount of your Deferred Pension will be determined by the amount of Pension Credit you have earned.

Pension Credits and Years of Vesting Service you have earned can be lost or cancelled if you incur a Break in Service before you have earned at least 5 Years of Vesting Service. A Break in Service is determined as follows:

Once you have accumulated at least 5 years of Vesting Service, your credit cannot be cancelled. However, this preserving of credit does not apply to credit cancelled by a Pre-1976 Permanent Break in Service.

The following example will explain how the Break in Service rules can affect your Pension. If you earned 4 Pension Credit and then had 5 Year Break in Service (5 consecutive years in which you did not work 155 hours in covered employment), and then you returned to work under the Fund and earned 6 Pension Credits were permanently cancelled because you had a permanent Break in Service (5 consecutive one year breaks in service)

You will be granted a Grace Period if you are not working in Covered Employment for certain reasons, such as disability, military service, parental absence, or if you are working in certain other types of employment. A Grace Period is a period of time which will not be used in determining whether a permanent Break in Service has occurred. The granting of Grace Periods is not intended to add to your Pension Credits, but merely to define the circumstances that will be disregarded in determining whether a Break in Service has occurred.

If you leave Covered Employment with a contributing Employer to join the military services, you may be eligible to receive Pension Credit for the time you were in the military service. You will be eligible for this Pension Credit if you are in the Military Service for less than five (5) years and if you return to Covered Employment with a Contributing Employer within a specified time period after being honorable discharged from your military service. The time period that you were serving in the military will not count as a Break in Service and you will not be required to re-qualify as a Participant once you return to Covered Employment under the Plan. The Board of Trustees has adopted guidelines and procedures for obtaining credit based upon qualified military service. You can obtain a copy of these procedures and notice requirements, by contacting the Fund Office.

Please note, that is you are married, any of these pensions described here, except the Disability Pension, will be paid to you in the form of a Husband and Wife Pension, unless both you and your spouse properly reject this form of payment before your pension begins. The Husband and Wife Pension is described in detail in the following section entitled "Pension Payment Options."

When you have met eligibility requirements for any of the pensions, you will begin receiving your monthly benefit effective the first full month following the date the Trustees receive your application completed in the proper form. However, should you return to work after retiring, payment of your pension benefits may be suspended. Please refer to the Suspension of Benefits rules for further information.

To be eligible to retire on a Regular Pension, you must have earned at least five (5) Pension Credits and meet the age requirement which is determined by the employer contribution rate paid to the Fund on your behalf, according to the collective bargaining agreement under which you worked. Effective for Active Participants on or after June 1, 1999, Sheet Metal Workers other than fabrication workers (B Workers) and Residential Workers must be age 58 or older to be eligible to retire on a Regular Pension. For B Workers and Residential Workers they must be age 62. For Sheet Metal Workers other than B Workers and Residential Workers who are entitled to a vested pension but were not considered Active on or after June 1, 1999, they must be at least age 60.

All participants must have earned at least five (5) years of Pension Credits to be eligible to retire on a Regular Pension. You will earn 1/10^th Pension Credit for each 155 hours of work in Covered Employment, so you must work 1,550 hours to earn one full Pension Credit. Earning Pension Credits is explained more fully in the section on "Earning Credit For a Pension".

The monthly amount of your Normal Retirement Pension is based on the number of Pension Credits you earned, the years in which you earned those credits, and the employer contributions rate determined by the collective bargaining agreement under which you worked. The monthly amount of the Regular Pension for Active Sheet Metal Workers other than fabrication workers (B Workers) and Residential Workers, retiring on or after June 1, 1994 but before January 1, 1996 is computed as follows:

Credits Earned During:	Amount Per Pension Credit
Years prior to November 1964	$2 per credit up to a max. of 10 credits
Nov. 1, 1964 to April 30, 1970	$7 per credit
May 1, 1970 to October 31, 1974	$10 per credit
November 1, 1974 to April 1, 1980	$13 per credit
May 1, 1980 to December 31, 1989	$52 per credit

Credits Earned During	Amount Per Pension Credit
June 1, 1994 and thereafter	$74.00 per credit

Retiring on or after January 1, 1996 but before January 1, 1999

Years prior to November 1964	$2 per credit
November 1, 1964 to April 30, 1970	$10 per credit
May 1, 1970 to October 31, 1974	$13 per credit
November 1, 1974 to April 30, 1980	$17 per credit
May 1, 1980 to December 31, 1989	$52 per credit
January 1, 1990 to May 31, 1994	$71 per credit
June 1, 1994 and thereafter	$77 per credit

The monthly amount of the regular Pension for Active Sheet Metal Workers other than fabrication workers and Residential Workers, retiring on or after January 1, 1997 is computed as follows:

Credits Earned During	Amount Per Pension Credit
Years prior to November 1964 credits	$4 per credit up to maximum of 10
November 1, 1964 to April 30, 1970	$12 per credit
May 1, 1970 to October 31, 1974	$15 per credit
November 1, 1974 to April 30, 1980	$19 per credit
May 1, 1980 to December 31, 1989	$54 per credit
January 1, 1990 to May 31, 1994	$73 per credit
June 1, 1994 and thereafter	$79 per credit

In addition, your pension will be increased by .4% for each full month between the month you obtained age 60 and your annuity starting date, which is the effective date of your pension.

For example, if you are retired on January 1, 1998 at age 63, had joined the Plan at age 25 and had worked 1,550 hours for each year, your pension would be computed as follows:

Credits Earned During	Credits Earned	Pension Amount
January 1, 1958 to October 31, 1964	6.8	$ 27.20
November 1, 1964 to April 30, 1970	5.5	$ 66.00
May 1, 1970 to October 31, 1974	4.5	$ 67.50
November 1, 1974 to April 30, 1980	5.5	$ 104.50
May 1, 1980 to December 31, 1989	9.6	$ 518.40
January 1, 1990 to May 31, 1994	4.4	$ 321.00
June 1, 1994 and thereafter	3.5	$ 276.50
		$1,381.30

Increase for 36 months wrked past age 60 (.4% x 36 = 14.4%) 14.4% x 1,381.30=		198.91
		$1,580.21

If you are working as a fabrication worker (B Worker) or a residential worker, the amount of the employer contributions on your behalf are different than the employer contributions received for other participants in the Plan. Therefore, the monthly amount of the Regular Pension for fabrication workers (B Workers) or a residential worker, retiring on or after January 1, 1997 is computed as follows:

Credits Earned During	Amount Per Pension Credit
Years prior to November 1964	$2.50 per credit max of 10 credits
November 1, 1964 to April 30, 1970	$10.50 per credit
May 1, 1970 to October 31, 1974	$13.50 per credit
November 1, 1974 to April 30, 1983	$17.50 per credit
May 1, 1983 to December 31, 1989	$26.50 per credit
January 1, 1990 to May 31, 1994	$31 per credit
June 1, 1994 and thereafter	$35 per credit

In addition, your pension will be increased by 0.4% for each full month between the month you obtained age 62 and your annuity starting date, which is the effective date of your pension.

Prior to June 1, 1990, benefits for the Pension Credit earned while working as an apprentice were computed at the same level as the benefit for other sheet metal workers. However, since June 1, 1990, contributions to the Pension Plan on behalf of apprentices have been the same as those for B Workers. As a result, pension credits earned while working as an apprentice after June 1, 1994 will be computed at $35 per pension credit.

In addition to your pension from this Fund, participants other than residential workers may be eligible for a pension from the Sheet Metal Workers National Pension Fund based on employer contributions made to that Fund on your behalf. Information regarding pensions from the National Pension Fund can be obtained at the Fund Office or by clicking on our Links page and then clicking on the Nation Fund address. (That will take you to their web page)

If you are older than Normal Retirement Age when you apply for retirement benefits, your monthly benefit payment may be actuarially adjusted for months that you worked in employment or self-employment in the industry in the geographical jurisdiction of the Union between your normal retirement and your annuity starting date or pension effective date.

You are eligible to retire on an early retirement Pension if you are at least age 55 and have earned at least five (5) years of Vesting Service.

The amount of the Early Retirement Pension depends on your age at which you retire and the collective bargaining agreement in which you worked. For Sheet Metal Workers other than fabrication workers (B Workers) and residential workers, the Regular Pension amount is calculated as if you were age 58 , and then reduced .4% for each month that you were younger than 58 when the Early Retirement begins. For example, suppose you are age 56 and your Regular Pension at age 58 is $850, your monthly benefit will be computed as follows:

In the above example, the Early Retirement Pension amount would be $768.40 a month, or 9.6% less than the Regular Pension amount.

For B Workers and residential workers, the Regular Pension amount is calculated as if you were age 62, and then reduced by .4% for each month that you are younger than age 62 when the Early Retirement begins.

This type of pension is called a "Deferred Pension" because the actual payments do not begin until you reach Early or Normal Retirement Age. Payments can begin as early as age 55 if you have earned the required number of Pension Credits or Years of Vesting Service; otherwise, payment will be deferred until your Normal Retirement Age.

Eligibility for a Deferred Pension is based on Years of Vesting Service, which is calculated differently then the Pension Credits, as explained in the section titled "Earning Credit For a Pension".

If you last worked in covered employment prior to January 1, 1997, and you have earned at least five (5) Pension Credits, during the Contribution Period or at least five (5) Years of Vesting Service prior to January 1, 1997, you will be entitled to the following vesting percentage:

Full Years of Vesting Service	Vesting Percentage
5 but less than 6	50%
6 but less than 7	60%
7 but less than 8	70%
8 but less than 9	80%
9 but less than 10	90%
10 or more years	100%

If you last worked in Covered Employment on or after January 1, 1997, you become entitled to a Deferred Pension if you have credit for at least five (5) Years of Vesting Service, regardless of your age when you cease to be employed in work covered by the plan.

Add the Deferred Vested Participant under this Plan, your pension benefit amount is calculated based upon the regular pension schedule in effect at the time you became a Deferred Vested Participant. For those Deferred Vested Participants retiring with Pension Credits or Vesting Service earned on or after June 1, 1999, you will be eligible to commence your Regular Pension benefit after you attain age 58. This benefit will be calculated in the same manner as a Regular Pension. However, if you meet the age and service requirements for Early retirement, your pension benefit will be calculated in the same manner as an Early Retirement Pension.

For B Workers and Residential Workers retiring with Pension Credits or Vesting Service since January 1, 1997, your benefits will be calculated in the same manner as the Regular or Early Retirement Benefits as provided above.

For Deferred Participants who have not earned any Pension Credits or Vesting Service since January 1, 1997, your benefits will be determined based upon the rules and pension schedules contained here are in effect at that time. Please contact the Fund Office if you have any questions over the amount of your Deferred Pension.

You have at least five (5) Years of Vesting Service which were earned while an employer was contributing to the Plan on your behalf prior to becoming permanently and totally disabled;

You are permanently and totally disabled as that term is defined in the section titled "Definition of Permanently and Total Disability"; and

You worked in Covered Employment (work for which contributions are payable to the Fund) for at least 155 hours within the 24 months before you become permanently and totally disabled.

A disability pension will be payable as of the first day of the sixth (6^th) month following the month in which you become permanently and totally disabled, or the first day of the month following the month you submitted an application for disability Pension, whichever is later.

The monthly amount of the Disability Pension is the same as the amount of the Regular Pension accrued as of the date you are determined to be permanently and totally disabled.

The Disability Pension will continue for life, provided you remain permanently and totally disabled to Normal Retirement Age. If you cease to be permanently and totally disabled before your Normal Retirement Age, you Disability Pension will cease with the month in which your disability ends. However, you may be entitled to a regular Pension or an Early Retirement Pension if you meet the eligibility requirements. See the section on "Recovery from Disability" for further details.

You will be deemed permanently and totally disabled only if the Board of Trustees, in their sole and absolute judgment, determine, on the basis of medical evidence that you are totally disabled by bodily injury or disease to the extent that you are prevented from engaging in any occupation or employment for wage or profit in a job classification of the type specified in the collective bargaining agreement and such disability will be permanent and continuous during the remainder of your life.

If you apply for disability pension, you may be required to submit to an examination by a competent physician or physicians selected by the Trustees and you may also be required to submit to re-examination, not more than annually, when deemed necessary by the Trustees to determine whether you continue to be totally disabled. If you refuse to submit to such re-examination when requested, your Disability Pension can be discontinued. Proof of continued disability will not be required after Normal Retirement Age.

You may hold another job while receiving a Disability Pension, as long as you don’t earn more than $500 a month. You must report to the Trustees, in writing any and all earnings from any employment or gainful pursuit within 15 days after the month in which you earn this amount. If you fail to report to the Trustees, or if you earn more than $500 a month, your pension will be suspended for the months in which you had earnings, for up to six (6) additional months.

If you recover while on Disability Pension and wish to continue receiving a pension, you may be entitled to an Early Retirement Pension if you meet the Eligibility requirements. If you meet the age requirements, see the section on "Regular Pension Eligibility," you may be eligible for a Regular Pension, which will be the same amount as your disability pension. You may also choose to return to work, and earn additional Pension Credits. You must notify the Trustees of your recovery from a permanent and total disability as soon as possible so that the Disability Pension can be discontinued.

If you are married when you retire, your pension benefit is automatically payable in the form of a Husband and Wife Pension, unless you both reject this form of payment in writing with your spouse’s written and notarized consent.

Under a husband and Wife Pension, a lifetime benefit is provided for your spouse as well as for yourself. The amount of the monthly benefit payable to you is reduced during your lifetime from what it would be if the pension were taken in the regular form. In exchange, upon your death, fifty-percent (50%) of the benefit amount you were receiving will be paid to your surviving spouse for life. You must, however, have been married either throughout the year before the pension began or throughout the year before your death, provided you were married prior to the start of the Pension.

The amount of the reduction in your benefit depends on your age and your spouse’s age and an opportunity to reject the Husband and Wife Pension. You will have a period of not less than thirty (30) days and not more than ninety (90) days to decide whether you want a Husband and Wife Pension. In the event that your spouse consents in writing, this thirty (30) day notice period can be waived, however, the benefit cannot start until seven (7) days after the explanation of benefits is provided to you and your spouse.

For example, the regular pension benefit calculated in the example on page 8 is $1,580.21 the benefit is $1,580.21, multiplied by 87.8% (which is the Joint and Survivor Spouse reduction based upon the age of the participant and spouse). If the retiree and wife do not properly reject the Husband and Wife Pension, he will receive $1,387.42 per month for the rest of his life and when he dies, his wife will receive $693.71 per month for the rest of her life.

If the Husband and Wife Pension is rejected in writing on the form approved by the Trustees with the spouse’s written and notarized consent, your spouse waives all rights to benefit payment under this option.

The Husband-and-Wife option is cancelled is your spouse dies or if you are divorced before the pension begins; the pension is then paid to you in the unadjusted amount, unless a Qualified Domestic Relations Order provides otherwise (see the section on Assignment of Benefits and Qualified Domestic Relations Order for more details).

If the actuarial present value of the Husband-and-Wife Pension is less than $5,000 the benefit will be paid to you in a lump sum.

If you are not married, or if the Husband and Wife Pension has been rejected in writing with your spouse’s written and notarized consent, your pension will be paid in the form of a single life annuity, with 36 guaranteed payments. Under this form of payment, the amount of your pension is not reduced, and is paid to you for the remainder of your life. If you die before receiving 36 monthly payments, the beneficiary you designate will continue to receive the monthly payments until the total of 36 monthly payments have been made, including both monthly payments made to you and your beneficiary. If your beneficiary has also died, or if you did not name a beneficiary, the remainder of the 36 payments will be made to your estate. Effective for all payments commerce on or after January 1, 1999, the guaranteed payments will increase to 60 monthly payments.

If you retire prior to becoming eligible for Social Security, you may choose the Social Security Level Income Option. This option enables you to receive an approximately equal monthly pension for life by increasing the amount of the monthly benefit you receive from the Fund in the years before your Social Security Benefit begin, and then decreasing your benefit from the Fund once you begin to receive your Social Security Benefit at age 62 or 65. In this way, between benefits paid by the Fund and by Social Security, you would receive a level amount of retirement income for life.

This option can be elected in combination with the 50% Husband -and-Wife Pension. However, the option cannot be elected if the amount of the pension benefit would be less than $25 per month.

The 36 or 60 payment guarantee depending upon the date you commenced your payments is still provided as part of this option. If you elect the 50% Husband-and-Wife Pension, your spouse will receive a lifetime monthly benefit equal to 50% of your Retirement Pension, based on your age at the time you retired, and adjusted for the 50% Husband-and-Wife Pension. If you die before receiving the guaranteed payments, your spouse will receive a monthly payment equal to 100% of your Retirement Pension adjusted for the 50% Husband-and-Wife Pension, until the total of guaranteed payments have been made.

If you Social Security Level Income Option benefit is not paid in the form of a 50% Husband-and-Wife Pension and you die before the guaranteed payments have been made, your beneficiary will receive the remaining guaranteed payments until the total number of guaranteed payments have been made. The monthly amount of the beneficiary’s payment will be determined by multiplying your Retirement Pension before the Social Security Option was elected by 36, subtracting the total amount of the payments you received prior to your death, and dividing the balance by the number guaranteed monthly payments due.

Election of the Level Income Option must be made in writing; the Fund Office will supply you with an election form which must be completed and submitted to the Fund Office before the first month for which benefits are payable. In order to have the amount of your benefit under this option calculated, you must provide the Fund Office with a Benefit Estimate Statement from the Social Security Administration, which states the estimated amount of Social Security Benefits.

Once elected, the Level Income Option cannot be revoked, except that if a participant who is receiving benefits under this option returns to work in Disqualifying Employment, his future pension benefit will not be paid in the form of a Level Income Option. Future benefit payments will be reduced by the amount previously overpaid under the Level Income Option on the basis of actuarial principles and approved by the Trustees.

The Plan includes provisions for survivor benefits when a participant dies after his/her pension payments start.

If you were already receiving benefits in the form of Husband and Wife Pension at the time of your death, your surviving spouse will begin receiving benefits as of the first month following your death. Under a Husband and Wife Pension, a lifetime benefit is provided for you or your spouse as well as for yourself. The amount of the monthly benefit payable to you is reduced during your lifetime from what it would be if the pension were paid as a single life annuity. In exchange, upon your death, 50% of the benefit amount you were receiving will be paid to your surviving spouse for life. The amount of the benefit to your spouse varies depending upon your pension credits, vesting credits and the age of you and your spouse. This amount will be provided to you and your spouse when you apply for your pension credit.

The Plan includes provisions for survivor benefits when a participant dies before his/her pension payments start, if he/she had earned a vested right to a pension.

If you are married and have been married for at least one year, and you die before your pension payments start but at a time when you have earned a vested right to a pension, a Pre-Retirement Surviving Spouse Benefit will be paid to your spouse.

If at the time of your death you would have been eligible to begin receiving payment of any pension under this Plan other than Disability pension, your spouse will be eligible to receive a lifetime Pre-Retirement Surviving Spouse benefit determined as if you had retired on a Husband and Wife Pension the day before your death. That is, your pension would be reduced as if it would be for Husband-and-Wife Pension, and reduced for Early Retirement if reduced as if it would be for Husband and Wife Pension, and reduced for Early Retirement if you would have been younger then Normal Retirement Age at the time your payments begin. Your spouse will then receive 50% of that amount for each month for the remainder of his/her life. Your spouse will begin receiving benefits as of the first of the month following your death or the first of the month following the date that your spouse applies for payment.

If at the time of your death you had earned a vested right to a pension but were not eligible to begin receiving payment of any pension under this plan, your spouse will be entitled to a Pre-retirement Surviving Spouse benefit determined as if you had separated from service under the Plan on the earlier of the date you last worked in Covered Employment or the date of your death, survived until age 55 and retired with an immediate Husband-and-Wife Pension, and died the next day. Your spouse will begin receiving benefits on the first of the month following the month in which you would have attained age 55.

If the Pre-Retirement Surviving Spouse Pension will not be payable for at least a year after the Trustees are notified of your death, your spouse may apply to have the Pre-Retirement Surviving Spouse Pension begin earlier, at the reduced amount to allow for earlier payment. However, the pension cannot be paid in the form if reduced amount is less than $25. In addition, if the actuarial present value of the Pre-Retirement Surviving Spouse Pension is less than $5,000, the benefit will be paid to your spouse in a lump sum.

Your spouse may also choose to delay payment of the Pre-Retirement Spouse Pension, but the pension cannot be delayed past the first of the month following the date you would have reached age 70 ½.

If you die before your pension payments start and you are not married, or you have not earned a vested right to a pension, the Plan will pay a Death Benefit to your beneficiary that is equal to the Total Employer Contributions made to the Fund on your behalf, up to a maximum of $10,000. Effective for any Death Benefit which becomes payable after January 1, 1999, the Plan will pay to your beneficiary that is equal to the total Employer Contributions made to the Fund on your behalf with interest at 7.5% per annum. If the amount of the Death Benefit is more than $5,000, your beneficiary may choose to have the benefit paid in a single lump sum or in 36 monthly installments. Benefits of $5,000 or less will be paid in a lump sum.

If you are not married, you can designate a beneficiary of your choice by completing the proper form required by the Board of Trustees. The designation is not in force until the Fund Office receives this form. If your beneficiary dies prior to your death, or if you did not name a beneficiary, the Death Benefit will be paid to your estate.

If you are married at the time of your death, your spouse will be your beneficiary for payment according to the section titled "Married Vested Participants," above.

The plan contains certain limits on work after retirement. If you are receiving a monthly benefit but work in the same industry, trade or craft as is covered by the Plan, your monthly Pension will be suspended for a period of time. Exactly what kind of work is covered by the Plan, your monthly pension will be suspended for a period of time. Exactly what kind of work is disqualifying (that is, will cause non-payment of pension payments) depends on whether you are under or over Normal Retirement Age.

You will not be entitled to receive your pension for any month in which you engage in employment in work as a sheet metal worker, or in any job with any employer participating in the Plan, whether the work is union or non-union, in this geographical area, or any other area.

You will not be entitled to receive your pension for any month in which you work or are paid for at least 40 hours of employment or self-employment as a sheet metal worker in the industry covered by the Plan, and in the geographical jurisdiction of the Union.

Except for the above limitations, you will be free to work at any other employment without effect on your pension.

If you work in violation of the above rules, your pension will be suspended for the month or month(s) in which you worked.

You are required to notify the Fund Office within 21 days after starting disqualifying work about any work you undertake, regardless of whether or not you plan to work 40 hours or more per month. This allows the Trustees to make a determination about the effect of such work on your pension. If a pensioner who has not reached Normal Retirement Age fails to report to work, his monthly benefit shall be suspended for one month of each month the participant was engaged in disqualifying employment up to a maximum of 6 months.

You must file a written application with the Board of Trustees on a form that will be provided upon request to the Fund Office. Application for retirement must be filed in advance of the date upon which you expect your pension to commence.

While the rules require that your pension application be filed one month in advance, you are urged to file as soon as you decide on your intended retirement date. Early filing will avoid delay in the processing of your application and payment of benefits.

If you have met all the requirements of the Pension Plan, your pension will begin on the first day of the month following entitlement of benefits except for Disability Pension as described in the section titled "Disability Pension-Eligibility".

If you are applying for benefits after you reach Normal Retirement Age and it is determined that you were eligible to receive a benefit earlier, your monthly benefit payments will be actuarially adjusted to the late payment.

However, you must begin taking you pension on April 1^st of the calendar year following the calendar year in which you reach age 70 ½ , even if you remain at work if you are 5% owner of any contributing employer. However, for any other participant, you may defer the receipt of your pension benefit until you actually cease employment. This is referred to as your "required beginning date".

If you have not submitted an application by the date of your required beginning date, and the actuarial present value of your benefit is less than $5,000, the Plan will pay your benefit to you in the form of a Husband-and-Wife Pension, according to the Plan rules that would apply to a participant who has been married for at least one year.

If your application for a pension is denied, you (or your authorized representative) may file a written appeal with the Fund Office no later than 60 days after you receive the notice of denial.

The written notice only needs to state your name, address, and the fact that you are appealing the decision of the Trustees, giving the date the decision was made. The appeal addressed as follows:

Prior to a determination on the appeal, you or your authorized representative may have an opportunity to review necessary an pertinent documents upon which the denial in whole or in part is based and m