RETIREMENT SAVINGS

FORMS

Complete this form to change your mailing address, and return to the Fund Office.

In order to change your mailing address, you must complete this form, and return to the Fund Office.

To apply for a withdrawal, you will need to complete a form and mail along with any noted documentation to the Fund Office.

To designate a beneficiary for your account, you must fill out this form and return it to the Fund Office.

Employee contribution to the Retirement savings Plan. The amount you choose to be withheld will be deducted from the 2nd paycheck of each month by your employer.

FREQUENTLY ASKED QUESTIONS

Your Employer contributes to the Fund amounts on your behalf as determined by its applicable Collective Bargaining Agreement. Those contributions that are made on your behalf will be deposited in an individual plan account that is set up in your name after you become a participant.
You may elect to defer a portion of your compensation each year to the Plan instead of receiving it in cash. You will need to fill out an Employee Deferral Form and turn it into your payroll department. Your Employer will fax a copy of the form to the Fund Office.
To change your investment allocation you will need to set up an online account with Merrill Lynch.
You are eligible for payment of your accounts upon:
  • Normal Retirement. Age 65 or, the 5th anniversary of participation.
  • Termination- Under age 65: You will need to wait until the end of the Plan year plus one additional Plan year.
For further information, please refer to your Summary Plan Description or contact the Fund Office.
To apply for a withdrawal, you will need to complete a Distribution Request Form. Please complete the form and mail along with any noted documentation to the Fund Office.
The Plan does not provide financial hardship or other payments before the eligibility dates. The Plan does not provide loans from your accounts.
The payment you receive from the plan will be subject to mandatory withholding of 20% for federal income taxes. You can avoid mandatory withholding only if you arrange to have your benefit transferred directly to an IRA or an eligible retirement plan.
In order to change your mailing address, you must complete a Change of Address Form. You may print and complete the form, or you may contact the Fund Office and a form will be mailed to you.
Complete a Beneficiary Designation Form and mail to the Fund Office.
If you have any questions, contact the Fund Office at (630) 288-6868 or (866) 844-0488.
Once your right to benefits under the Plan becomes vested, your Plan account cannot be forfeited or lost. However, note that your Plan account is subject to the performance of its investments and may be reduced as a result of such performance. All contributions you make to the Plan pursuant to a compensation deferral election shall always be fully vested and non-forfeitable. If you receive an employer contribution due to Covered Employment, you will become vested pursuant to the following schedule:

Years of Service: Vested Percentage:
Less than 3 0%
3 years or more 100%
Visit the Merrill Lynch website to access information. You may also read helpful information from their brochure.

PLAN DOCUMENTS & NOTICES

View the full Summary Plan Description that explains the Plan benefits available to you and your family.

The SAR provides basic financial information regarding the Plan and informs you of your rights to additional information.

LIFE EVENTS

Birth or Adoption

You can select a beneficiary by filing an approved form with the Fund Office. You may change or revoke your beneficiary at any time by filing a new form. To be effective, your form must be received by the plan office during your lifetime.

Marriage

You can select a beneficiary by filing an approved form with the Fund Office. You may change or revoke your beneficiary at any time by filing a new form. To be effective, your form must be received by the plan office during your lifetime

If you are married, you are subject to some special rules. In general, your spouse must be your beneficiary. If you wish to designate someone else as beneficiary (including a trust for your spouse), your spouse must consent to the different beneficiary. Your spouse’s consent must be in writing and must be notarized or witnessed by a notary public or a plan representative. The only exception is under certain circumstances where the consent cannot be obtained, such as where a spouse cannot be located.

A spouse is a person to whom you are considered married under applicable law including a same-sex spouse to whom the Participant is considered married under the law of the state in which the marriage celebration occurred.

If your marital status changes, you should check to see if a new beneficiary designation should be filed. This should always be done when a single participant gets married.

Moving

If you have recently moved, please complete a Change of Address Form and return to the Fund Office.

Divorce

In the event of divorce, your former spouse may have a right to receive some portion of your Account directly from the Plan. Please contact the Fund Office for more information.

Retirement

You are eligible for payment of your accounts upon:

  • Normal Retirement. Age 65 or, if later, 60 months after the first contributions were made for you.
  • Termination – Under age of 65, you will need to wait until the end of the Plan year in which you terminate employment, plus an additional month.
  • A single lump-sum distribution at or after normal retirement (age 65)
  • Benefits paid as a result of a participant’s death

For further information, please refer to your Summary Plan Description or contact the Fund Office.

Death

If you die, the unpaid balance of your Accounts will be paid in a lump sum to your beneficiary. Please contact the Fund Office for more information.

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