EMPIRE STATE CARPENTERS’ PENSION FUND STATE . CARPENTERS’ PENSION FUND . SUMMARY PLAN...

EMPIRE STATE CARPENTERS’ PENSION FUND

SUMMARY PLAN DESCRIPTION

For Participants in the Rochester Region

(members of Locals 85, 732 and 1163)

REVISED October 1, 2009

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EMPIRE STATE CARPENTERS’

PENSION FUND

For Participants located in the Rochester Region

Long Island Office 270 Motor Parkway, Hauppauge, NY 11788-1590

Tel.: (631) 952-9700 · Fax: (631) 952-9813

Westchester Office 14 Saw Mill River Road, Ste 1, Hawthorne, NY 10532-1590

Tel.: (914) 592-8670 · Fax: (914) 592-6742

Buffalo Office 1159 Maryvale Drive, Ste. 20, Cheektowaga, NY 14225

Tel.: (716) 839-7132 · Fax: (716) 839-7136

South Central Office 181 Industrial Park Road, Horseheads, NY 14845

Tel: (607) 739-1326 · Fax: (607) 739-1415 Trustees as of September 15, 2009

Union Trustees Employer Trustees

William Banfield Thomas Burke Alan Ehl Christopher Fusco David Haines William Macchione James Malcolm Patrick B. Morin, Secretary/Treasurer Stanley Turtenwald William Weir Frank Wirt Vacancy Vacancy

Todd Helfrich, Vice Chairman Aaron Hilger Frank Jones James Holley James Logan Lloyd Martin Angelo Massaro Doug O’Connor John O’Hare Ross Pepe Dale Stuhlmiller, Chairman Alan Seidman Larry Thayer

FUND DIRECTOR

David B. Stewart, CEBS

ACCOUNTANTS Schultheis & Panettieri, LLP

LEGAL COUNSEL

Slevin & Hart, PC

ACTUARY First Actuarial Consulting, Inc.

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EMPIRE STATE CARPENTERS FRINGE BENEFIT FUNDS

Long Island Office 270 Motor Pkwy, Suite 2 Hauppauge, NY 11788-5150 Tel: (631) 952-9700 Fax: (631)-952-9813 South Central Office 181 Industrial Park Road Horseheads, NY 14845 Tel: (607) 739-1326 Fax: (607) 739-1415

Westchester Office

14 Saw Mill River Road, Suite 1 Hawthorne, NY 10532-1590

Tel: (914) 592-8670 Fax: (914) 592-6742

Buffalo Office

1159 Maryvale Drive., Suite 20 Cheektowaga, NY 14225 Tel: (716) 839-7132 Fax: (716) 839-7136

Dale Stuhlmiller, Chairman Todd Helfrich, Vice Chairman

David B. Stewart, CEBS, Funds Director Patrick B. Morin, Assistant Funds Director

Secretary / Treasurer

Kathleen Morin, Pension & Annuity Kimberly Sennes, Welfare

The Board of Trustees is pleased to provide you with this Summary Plan Description (“SPD”) for the Empire State Carpenters’ Pension Fund for those participants located in the Rochester region who are members of Locals 85, 732 and 1163 of the United Brotherhood of Carpenters and Joiners of America. This SPD reflects the rules of Rochester Carpenters’ Pension Plan document restated as of January 1, 2001 and as amended through October 1, 2009. This SPD includes valuable information about your Pension Plan, including:

• when you can participate in the Plan;

• what the requirements are for eligibility;

• how the benefit amounts are determined; and

• when you can receive a pension benefit.

It is important that you understand how the Plan works. That is why we encourage you to read this SPD carefully. You should also share it with your family or other designated Beneficiaries, so that they are aware of your pension benefits, as well as any survivor benefit to which they may become entitled. Every effort has been made to provide you with a clear understanding and description of the Plan. Certain terms used in this SPD have specific meanings with respect to your pension benefits. These words are capitalized and are defined in Section 1. The words “you” and “your” refer to the Participant unless the context clearly provides otherwise. This SPD is intended to provide a general summary of the main provisions of the Plan. It is not a complete description of the Plan. A complete description of the Plan can only be found in the Plan document. In case of any conflict between the provisions of the Plan document and this SPD, the provisions of the Plan document will always control. This SPD is subject to the rules, regulations or procedures of the Plan in effect at the time a claim is made. The Board of Trustees has the power to interpret, apply, construe and amend the provisions of the Plan and make factual determinations regarding its construction, interpretation and application, and any decisions made by the Board of Trustees in good faith is binding upon Contributing Employers, Employees, Participants, Beneficiaries, and all other persons who may be involved or affected by the Plan. You will be notified of any material changes to this SPD as required by law.

It is extremely important that you keep the Fund informed of any changes in your address, marital status or desired changes to your Beneficiary designation. This is your obligation and your benefits can be delayed if you fail to do so.

Please remember that no one other that the Fund Office can verify your plan of benefits. You should not rely on statements regarding benefits under the Plan made by a Contributing Employer, Union agent, shop steward, supervisor or other Participants. If you have trouble understanding any part of this material or have any questions

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about your benefits, contact the Fund Office at 181 Industrial Park Road, Horseheads, NY 14845, 1-866-727-0281, Monday through Friday 8:00 AM through 4:30 PM.

TABLE OF CONTENTS

1. DEFINITIONS ........................................................................................................................................................................ 6

ACTIVE PARTICIPANT ............................................................................................................................................... 6 ANNUITY STARTING DATE ....................................................................................................................................... 6 ASSOCIATION ............................................................................................................................................................ 6 BENEFICIARY ............................................................................................................................................................ 6 BREAK-IN-SERVICE .................................................................................................................................................. 6 CALENDAR YEAR ..................................................................................................................................................... 6 CODE ......................................................................................................................................................................... 6 CONTRIBUTING EMPLOYER ...................................................................................................................................... 6 CONTRIBUTION OR CONTRIBUTIONS ........................................................................................................................ 6 COVERED EMPLOYMENT .......................................................................................................................................... 6 EMPLOYEE ................................................................................................................................................................ 6 ERISA ...................................................................................................................................................................... 6 FUND ......................................................................................................................................................................... 6 HOURS OF SERVICE OR HOUR ................................................................................................................................... 7 INACTIVE VESTED PARTICIPANT .............................................................................................................................. 7 NORMAL RETIREMENT AGE ..................................................................................................................................... 7 PARTICIPANT ............................................................................................................................................................ 7 PENSION CREDIT ....................................................................................................................................................... 7 PENSIONER ................................................................................................................................................................ 7 PLAN OR EMPIRE PLAN ............................................................................................................................................. 7 PLAN YEAR ............................................................................................................................................................... 7 QUALIFIED DOMESTIC RELATIONS ORDER .............................................................................................................. 7 RELATED PLAN ......................................................................................................................................................... 7 RETIREMENT OR RETIRED ........................................................................................................................................ 8 SERVICE YEAR .......................................................................................................................................................... 8 SPOUSE OR SURVIVING SPOUSE ............................................................................................................................... 8 TOTALLY AND PERMANENTLY DISABLED ................................................................................................................ 8 UNION ....................................................................................................................................................................... 8 VESTED ..................................................................................................................................................................... 8

2. PARTICIPATION IN THE PLAN ....................................................................................................................................... 8 ELIGIBILITY FOR PARTICIPATION ............................................................................................................................. 8 TERMINATION OF PARTICIPATION ............................................................................................................................ 8

3. EARNING PENSION CREDIT ............................................................................................................................................ 8 4. EARNING SERVICE YEARS .............................................................................................................................................. 9 5. BREAKS-IN-SERVICE ......................................................................................................................................................... 9 6. MILITARY SERVICE ......................................................................................................................................................... 11 7. TYPES OF PENSIONS ........................................................................................................................................................ 11 8. FORMS OF PAYMENT ....................................................................................................................................................... 14

100% QUALIFIED JOINT AND SURVIVOR ANNUITY ................................................................................................ 14 50% JOINT AND SURVIVOR ANNUITY .................................................................................................................... 14 JOINT AND SURVIVOR ANNUITY WITH A POP-UP FEATURE ................................................................................... 15

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SINGLE LIFE ANNUITY ............................................................................................................................................ 15 LUMP SUM CASHOUT ............................................................................................................................................. 15

9. DEATH BENEFITS .............................................................................................................................................................. 16 QUALIFIED PRE-RETIREMENT SURVIVING SPOUSE BENEFIT – MARRIED PARTICIPANTS ...................................... 16 ALTERNATIVE PRE-RETIREMENT DEATH BENEFIT ................................................................................................ 16 DEATH BENEFITS UPON YOUR DEATH ................................................................................................................... 17 DEATH BENEFIT UPON THE DEATH OF YOU AND YOUR SPOUSE ........................................................................... 17 ADDITIONAL DEATH BENEFIT ................................................................................................................................ 17

10. APPLYING FOR BENEFITS AND APPEALS .............................................................................................................. 17 APPLYING FOR A BENEFIT ...................................................................................................................................... 17 APPEALS PROCEDURE ............................................................................................................................................. 18

11. RETURNING TO WORK AFTER RETIREMENT ...................................................................................................... 19 SUSPENDABLE EMPLOYMENT ................................................................................................................................. 19 NOTIFICATION OF SUSPENDABLE EMPLOYMENT ................................................................................................... 19 RESUMPTION OF BENEFITS FOLLOWING A SUSPENSION ......................................................................................... 20 OVERPAYMENTS ..................................................................................................................................................... 20

12. OTHER IMPORTANT INFORMATION ....................................................................................................................... 20 NON-ASSIGNMENT OF BENEFITS ........................................................................................................................... 20 INCAPACITY ............................................................................................................................................................ 20 WITHHOLDING OF FEDERAL INCOME TAX ............................................................................................................. 20 RIGHT OF RECOVERY .............................................................................................................................................. 21

13. TERMINATION OF THE PLAN ..................................................................................................................................... 21 14. YOUR RIGHTS UNDER ERISA...................................................................................................................................... 22

RECEIVE INFORMATION ABOUT THE PLAN AND BENEFITS UNDER THE PLAN ........................................................ 22 PRUDENT ACTIONS BY PLAN FIDUCIARIES ............................................................................................................ 22 ENFORCE YOUR RIGHTS ......................................................................................................................................... 22 ASSISTANCE WITH YOUR QUESTIONS .................................................................................................................... 23

15. PLAN INFORMATION ..................................................................................................................................................... 23 APPENDIX .................................................................................................................. ERROR! BOOKMARK NOT DEFINED.

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Section 1

DEFINITIONS Certain words have specific meanings with respect to the Plan. These words are capitalized throughout the SPD. Active Participant means a Participant who has earned at least 500 Hours of Service during the current Calendar Year or the most recently completed Calendar Year. Annuity Starting Date means the first day of the first month for which a benefit is payable from the Fund. Association means the Construction Industry Association of Rochester, N.Y., Inc. Beneficiary means the person named by you on the applicable forms provided by the Fund and who is or may become entitled to benefits under the Plan. If no Beneficiary has been designated, or if your Beneficiary is not alive when you die, any death benefits payable on your behalf will be paid to your surviving spouse, or if none, to your surviving children in equal shares, or if none, to your surviving parents in equal shares, or if none, to your surviving siblings in equal shares, or if none, to your estate. A Beneficiary may also be designated in an entered court order if the order contains a clear designation of rights. A Beneficiary designation in a court order meeting this requirement will govern over any prior or subsequent conflicting designation filed with the Fund. A Beneficiary may waive his or her rights as a Beneficiary under the Plan in an entered court order, provided that such order contains a clear waiver of rights. A waiver in a court order meeting this requirement will govern over a prior conflicting designation that has been filed with the Fund. If such waiver is on file with the Fund and no new designation has been made, the Fund will pay your benefits in accordance with the same procedures that apply to Participants who die without designating a Beneficiary, as described in the preceding paragraph. Break-In-Service occurs in any Calendar Year during which you fail to earn at least 500 Hours of Service. Calendar Year means the 12-month period ending December 31. Code means the Internal Revenue Code of 1986, as amended. Contributing Employer means any employer, whether or not a member of the Association, that has entered into a collective bargaining agreement with the Union requiring Contributions to the Fund, or has agreed to make Contributions to the Fund pursuant to another written agreement. Contributing Employer may include the Union, the former Rochester Carpenters’ Pension Fund and other related employee benefit funds that are associated with the Union or the Association. Contribution or Contributions means money paid or payable to the Fund by a Contributing Employer pursuant to a collective bargaining agreement or other written agreement. Covered Employment means employment with a Contributing Employer for which Contributions to the Fund are required under a collective bargaining agreement or other written agreement. Employee means an individual employed by a Contributing Employer on whose behalf Contributions are required to be made to the Fund. ERISA means the Employee Retirement Income Security Act of 1974, as amended. Fund or Empire Fund means the Empire State Carpenters’ Pension Fund for its Participants located in the Rochester region.

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Hours of Service or Hour generally means:

• an hour for which you are paid, or entitled to payment, for the performance of duties for a Contributing Employer for which Contributions are required to be made to the Fund on your behalf pursuant to the terms of a collective bargaining agreement or other written agreement;

• an hour for which, although no duties are performed, you are paid or entitled to payment by a

Contributing Employer because of vacation, holiday, illness, incapacity, disability, layoff, jury duty, military duty or leave of absence, up to a maximum of 501 hours in a single continuous period. Employees who are not paid on an hourly basis and for whom hourly employment records are not maintained will be credited with hours under this provision at a weekly rate of 45 hours, for each week in which at least 1 Hour is earned. You will not receive an Hour of Service for payment that is made from or due under a plan maintained solely for the purpose of complying with applicable workmen’s compensation, or unemployment compensation, or disability insurance laws; and

• An hour for which back pay is awarded or agreed to by a Contributing Employer. However, if you

receive credit for an Hour of Service under this paragraph, you may not receive credit for the same hour under the two preceding paragraphs.

Hours of Service also includes employment for which contributions have been transferred from another pension fund to this Fund pursuant to a written agreement between both funds. Hours of Service do not include employment for which Contributions made to this Fund have been transferred to another pension fund under a written agreement between both funds. Inactive Vested Participant means a Participant who has not earned 500 Hours in any two consecutive Calendar Years. Once a Participant becomes an Inactive Vested Participant, he may become an Active Participant again by earning 500 Hours in a subsequent Calendar Year. Normal Retirement Age means the date on which you attain age 60 or, if later, your 5th anniversary of participation in the Plan. Participant means an Employee who meets the requirements for participation in the Plan, as described in Section 2 of this SPD. Pension Credit means the service credited to a Participant for the purpose of determining the amount of benefit the Participant will receive at Retirement. Pensioner means a Participant who is receiving a pension benefit from the Fund. Plan or Empire Plan means the Empire State Carpenters’ Pension Plan for its Participants located in the Rochester region. Plan Year means, subsequent to the merger between the Empire Fund and the Rochester Carpenters’ Pension Fund, the 12-month period beginning on July 1. Prior to the merger, the Plan Year was the Calendar Year. As a result of the merger, there was a short Plan Year in effect from January 1, 2007 though June 30, 2007. Qualified Domestic Relations Order means a domestic relations order within the meaning of Section 206(d) (3) of ERISA and Section 414(p) of the Code. Related Plan means another pension plan that entered into a reciprocal agreement with the Empire Plan or the Rochester Pension Fund prior to its merger into the Empire State Carpenters’ Pension Fund.

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Retirement or Retired means the termination of employment with all Contributing Employers and becoming eligible to receive a distribution from the Fund under the Plan. Service Year means the service credited to a Participant for the purposes of becoming Vested. Spouse or Surviving Spouse means the person to whom you are legally married for at least the one-year period ending on the earlier of the Participant’s death or Annuity Stating Date, except that if you are married for less than one year on your Annuity Starting Date, your spouse will be considered a Spouse under this definition provided that you remain married for a one-year period. A spouse or a former spouse will be treated as a Spouse to the extent required under a QDRO. Totally and Permanently Disabled means the Participant has received a determination of disability from the Social Security Administration. Union refers to Locals 85, 732 and 1163 of the United Brotherhood of Carpenters’ and Joiners or America Vested means that you have satisfied the requirements of Section 4 of this SPD and that you have earned a non-forfeitable right to your benefits under the Plan.

Section 2

PARTICIPATION IN THE PLAN

Eligibility for Participation You are eligible to begin participating in the Plan if you are an Employee that has worked in Covered Employment for at least 500 Hours in a Calendar Year. Termination of Participation Your participation in the Plan will terminate on the earlier of:

• the last day of a Calendar Year in which you stop working in Covered Employment when you are not Vested and incur a Permenant Break-In-Service; or

• your death.

Section 3

EARNING PENSION CREDIT

You earn Pension Credit for the Hours you work in Covered Employment. The Pension Credits that you earn are used to determine the amount of the benefit that you will receive upon Retirement. In general, for Hours of Servoce in Covered Employment on and after January 1, 1977, you will receive the greater of:

• .001 of a Pension Credit for every $0.66 of Contributions required to be made to the Fund on your behalf during a Calendar Year; or

• .001 of a Pension Credit for each Hour you work in Covered Employment that you earn in a

Calendar Year.

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Effective July 31, 1983, if contributions made to another pension fund on your behalf were transferred to the Empire Fund under a written agreement between both funds, the transferred contributions will be credited to you at a rate of .001 of a Pension Credit for every $0.66 in contributions that are transferred. For the Calendar Year beginning January 1, 1995 only, you will receive .001 of a Pension Credit for every $0.33 of Contributions required to be made to the Fund on your behalf during that year. If you worked in Covered Employment prior to January 1, 1977, please contact the Fund to inquire about the Pension Credits you earned prior to that date.

Section 4

EARNING SERVICE YEARS When you are Vested in the Plan, you have a non-forfeitable right to receive a pension benefit upon Retirement. This means that the Pension Credits you have earned cannot be lost even if you stop working in Covered Employment. Service Years are different than Pension Credits. The Service Years you earn under the Plan are used to determine when you become Vested and what type of pension you may be eligible to receive upon your Retirement. (See Section 7 for the types of pensions available under the Plan and the amount of Service Years required for each). You will be credited with Service Years for the Hours you work in Covered Employment or as otherwise required by applicable law. For example, if you work for a Contributing Employer in a job classification that is not considered Covered Employment but that occurs immediately before or after your work in Covered Employment with the same Contributing Employer, you will receive Service Years for your period of non-Covered Employment to the extent required by law, even though you may not earn Pension Credit for that period. You will be credited with one (1) Service Year for each year on or after January 1, 1976 that you earn 1,000 hours of Service Years. If you worked at least one Hour of Service in Covered Employment on or after January 1, 1999, you will become Vested on the earlier of:

• The date on which you earn five (5) Service Years; or • The date on which you complete 5,000 Hours of Service over five (5) consecutive Calendar Years, with

at least 500 Hours of Service in each of the five (5) consecutive Calendar Years; If you do not work at least one Hour on or after January 1, 1999, you must earn ten (10) Service Years to become Vested. You will also become Vested upon the attainment of Normal Retirement Age prior to incurring a Permenant Break-In-Service.

Section 5

BREAKS-IN-SERVICE A Break-In-Service occurs when you fail to earn at least 500 Hours in a Calendar Year. However, you will not incur a Break-In-Service if:

• Your reemployment rights are protected by law, such as under the Family and Medical Leave Act of 1994; or

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• You are absent from Covered Employment because of maternity or paternity reasons for the birth of your child or placement of your adopted child or for the care of such child immediately preceding such birth or placement. Your hours will be credited for the Calendar Year in which the absence begins if the crediting of such hours is necessary to prevent a Break-In-Service in that year, or if not, hours will be credited to the year immediately following; or

• You are disabled and as a result of your disability, you are unable to perform any gainful work as

an Employee, as determined in the sole discretion of the Board of Trustees; or

• You are unemployed and unable to find work in Covered Employment within the geographical region covered by the Union because of a lack of work opportunities, as determined in the sole discretion of the Board of Trustees.

You must provide the Fund with any requested documentation supporting the reason for your leave. If you are not Vested at the time your Break-In-Service begins, you will incur a Permanent Break-In-Service as follows:

• After December 31, 1998 - if the number of your consecutive Breaks-In-Service equals or exceeds five.

• Between January 1, 1984 and December 31, 1998 - if the number of your consecutive Breaks-In-

Service equals or exceeds the greater of five or the number of Service Years earned prior to your first Break-In-Service.

If you incurred a Break-In-Service prior to January 1, 1984, there are different rules used to determine whether you had a permanent Break-In-Service. Please contact the Fund with any questions. The following examples illustrate these rules:

• You left Covered Employment in July 1999 with 4 Pension Credits and 4 Service Years (this includes the credit of a Service Year for 1999). On December 31, 2003, after an absence of 4 ½ years, you return to Covered Employment. Since your number of consecutive Breaks-In-Service (4) was less than 5, the 4 Pension Credits and Service Years you earned prior to your first Break-In-Service is restored.

• You left Covered Employment in July 2000 with 4 Pension Credits and Service Years (this

includes the credit of a Service Year for 2000). On December 31, 2006, after an absence of 6 ½ years, you return to Covered Employment. Since the number of your consecutive Breaks-In-Service (6), exceeded 5, your 4 Pension Credits and Service Years earned prior to July 2000 is lost and you begin again as a new Participant.

• You left Covered Employment in July, 2001 with 6 Pension Credits and Service Years. On July

2008, after an absence of 7 years, you return to Covered Employment. Since you were Vested at the time you left Covered Employment (because you earned 5 Service Years and worked in Covered Employment after January 1, 1999), you will not lose the 6 Pension Credits you earned prior to your first Break-In-Service.

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Section 6

MILITARY SERVICE The Uniformed Services Employment and Reemployment Rights Act (“USERRA”) provides reemployment rights, benefits and protection from discrimination to individuals who, either by induction or as a volunteer, have entered military service in any branch of the uniformed forces of the United States. If you satisfy the conditions for protection under USERRA, your period of military service will be treated as Hours of Service for all purposes under the Plan, including vesting, benefit accrual and eligibility. To be entitled to reemployment rights and pension benefits under USERRA, you generally must:

• Leave Covered Employment for military service; • Give advance notice of your military service to your Contributing Employer, unless notice is

prevented by military necessity or is otherwise impossible or unreasonable under the circumstances;

• Be absent from Covered Employment for military service for 5 years or less, unless extended

service is required as part of your initial period of obligation or your service is involuntarily extended, such as during war;

• Apply for a job as required by law within the requisite period of time after your military service

ends; and

• Receive an honorable discharge or satisfactorily complete military service. For periods of absence of less than 31 days, or an absence due to a fitness exam, you must report back to work in Covered Employment not later than the first regularly scheduled work period on the first day after an 8 hour break and after time to travel back home. For periods of service from 31 days to 180 days, you must reenter Covered Employment within 14 days after your military service ends. For service over 180 days, you must reenter Covered Employment within 90 days after completion of service. These limits may be extended under USERRA in particular circumstances. You will be entitled to these rights and benefits under the Plan only if you satisfy the requirements of law.

Section 7

TYPES OF PENSIONS

There are several types of pensions offered under the Plan. The eligibility requirements for each type and how the amount of your benefit is calculated are described in this Section. If you meet these eligibility requirements, you may begin to receive a pension benefit upon your Retirement and after submission of a properly completed application. In general, the amount of your pension is based on the rules in effect at the time you terminate Covered Employment. However, if you become an Inactive Vested Participant, the amount of your benefit at Retirement will be equal to the sum of: 1) the benefit you earned prior to the date on which your became an Inactive Vested Participant, based on the rules in effect at that time, plus 2) the benefit you earned when you reentered Covered Employment, based on the rules in effect at the time you terminate Covered Employment prior to your Retirement.

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Normal Retirement Pension

You are eligible to Retire on a Normal Retirement Pension if you are an Active Participant on the date on which:

• You have attained age 60; • You have earned at least five (5) Service Years; and

• You have ceased working in Covered Employment.

The monthly amount of your Normal Retirement Pension is equal to the greater of:

• $25.00; or • Your Applicable Pension Rate multiplied by the number of Pension Credits you earned after

November 1, 1966. Your Applicable Pension Rate is based on your Annuity Starting Date and when you become an Inactive Vested Participant. For example, if your Annuity Starting Date is on or after January 1, 2009, and you are not an Inactive Vested Participant on December 31, 2008, your Applicable Pension Rate for Pension Credits earned prior to January 1, 2009 is $23.10 and your Applicable Pension Credit for Pension Credits earned on or after January 1, 2009 is $23.50. If your Annuity Starting Date is on or after January 1, 2006 and you are not an Inactive Vested Participant on December 31, 2005, your Applicable Pension Rate is $23.10. Please refer to the attached Appendix to determine your Applicable Pension Rate.

For example, a Participant who is 60 years old and has earned 35 Pension Credits prior to January 1, 2009 and 2 Pension Credits after January 1, 2009 becomes an Inactive Vested Participant in 2009 and immediately applies for a benefit. His monthly Normal Retirement Pension will be calculated as follows: 35 Pension Credits earned prior to January 1, 2009 ($23.10 x 35 Pension Credits) $808.50 2 Pension Credits earned on or after January 1, 2009 ($23.50 x 2 Pension Credits) $47.00 Total Benefit rounded up to the next whole dollar ($808.50 + $47.00) $856.00 Early Retirement Pension

You are eligible to Retire on an Early Retirement Pension if you are an Active Participant on the date on which:

• You have attained age 55; • You have earned at least five (5) Service Years; and

• You have terminated Covered Employment.

If your Annuity Starting Date is on or after January 1, 2006, and you are not an Inactive Vested Participant on December 31, 2005, your Early Retirement Pension is equal to your Normal Retirement Pension, reduced by 0.2% for each month by which your Annuity Starting Date precedes your Normal Retirement Age. Otherwise, please refer to the Appendix to determine your Applicable Pension Rate, which is based on several factors, including when you became an Inactive Vested Participant and your age on your Annuity Starting Date. However, in no event will the benefit you accrued under the Plan on or before December 31, 2005 be less than it would have been under the rules of the Plan in effect on December 31, 2005.

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For example, a Participant who is 55 years old and has earned 35 Pension Credits prior to January 1, 2009 and 2 Pension Credits after January 1, 2009 becomes an Inactive Vested Participant in 2009 and immediately applies for a benefit. His monthly Early Retirement Pension will be calculated as follows: 35 Pension Credit earned prior to January 1, 2009 ($23.10 x 35 Pension Credits) $808.50 2 Pension Credits earned on or after January 1, 2009 ($23.50 x 2 Pension Credits) $47.00 Normal Retirement Benefit ($808.50 + $47) $855.50 Multiplied by 0.88 [100% minus (0.2% x 60)] $752.84 Total Benefit rounded up to the next whole dollar $753.00

Vested Pension You are eligible to Retire on a Vested Pension if:

• You are Vested at the time you terminate Covered Employment; • You terminate Covered Employment prior to becoming eligible for a Normal Retirement Pension

or Early Retirement Pension; and

• You have attained age 55. The amount of your Vested Pension is calculated in the same manner as a Normal or Early Retirement Pension, based on the date on which you became an Inactive Vested Participant and your age on your Annuity Starting Date. Disability Pension

You are eligible to receive a Disability Pension if:

• You are an Active Participant on the date your disability begins; • You are Totally and Permanently Disabled, and have been for five (5) consecutive months; and

• You have either:

Earned five (5) Pension Credits and five (5) Service Years; or You have worked at least one Hour of Service in Covered Employment on or after January

1, 2009 and are Vested. The amount of your Disability Pension is calculated in the same manner as the Normal Retirement Pension. However, if you have earned less than ten (10) Service Years, your benefit will be reduced by ¼ of 1% for each month by which the effective date of your Disability Pension precedes your Normal Retirement Age, except that in no event will your reduction be greater than 15%. A Disability Pension is payable beginning on the same date that your Social Security disability benefits are payable. Your benefit will continue for as long as you remain Totally and Permanently Disabled. The Board of Trustees may

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require you to produce proof of a continuing disability. If your Social Security Disability benefits end prior to the date on which you attain age 60, your Disability Pension will cease and the Pension Credits you earned prior to your Disability Pension effective date will be reinstated. However, if you remain Totally and Permanently Disabled upon your attainment of Normal Retirement Age, your Disability Pension will continue to be paid for the remainder of your life. Pro-Rata Pension

A Pro-Rata Pension is provided to Participants who lack enough Pension Credit to receive a pension under this Fund, but have worked in employment covered under the jurisdiction of Related Plans. You will be eligible to Retire on a Pro-Rata Pension if:

• You are no longer working in employment covered by this Fund or the Related Plan(s);

• You would be eligible for a pension from this Fund if the pension credits that you earned under this Plan and all Related Plans are combined;

• You have earned at least one Pension Credit based on actual work in Covered Employment under this Plan;

and

• You satisfy the eligibility requirements for a Pro-Rata Pension from the Related Plan(s). The amount of the Pro-Rata Pension is calculated in the same manner as the Normal Retirement Pension, based on the Pension Credits that you earn under this Plan. You will not receive a benefit from this Fund based on the pension credits you earned under the Related Plan.

Section 8

FORMS OF PAYMENT 100% Qualified Joint and Survivor Annuity If you are married on your Annuity Starting Date, your benefits will automatically be paid in the form of a 100% Qualified Joint and Survivor annuity, unless you and your Spouse properly waive this form of payment. Under this form of benefit, you will receive monthly payments for your lifetime and upon your death, your Surviving Spouse will receive a monthly benefit for his/her lifetime equal to the same benefit you were receiving before your death. The monthly benefit paid to the Participant under this form of benefit is reduced from the amount you would have received as a Single Life Annuity using actuarial factors to account for being paid over two lifetimes. 50% Joint and Survivor Annuity If you are married on your Annuity Starting Date and you and your Spouse properly waive the 100% Qualified Joint and Survivor Annuity, you can elect to receive your benefit as a 50% Joint and Survivor Annuity. Under this form of payment, you will receive monthly payments for your lifetime and upon your death, your Surviving Spouse will receive a monthly benefit for his/her lifetime equal to 50% of the benefit you were receiving prior to your death. The monthly benefit paid to the Participant under this form is reduced from the amount you would have received as a Single Life Annuity using actuarial factors to account for being paid over two lifetimes, but the reduction will be less than under the 100% Qualified Joint and Survivor Annuity since the Surviving Spouse will receive only 50%, rather than 100%, of the Participant’s monthly benefit.

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Joint and Survivor Annuity with a Pop-Up Feature If you are married on your Annuity Starting Date and you and your Spouse properly waive the 100% Qualified Joint and Survivor Annuity, you can elect to receive either a 50% Joint and Survivor Annuity or a 100% Joint and Survivor Annuity in the same manner described above, with a Pop-Up Feature. Under this option, if your Spouse predeceases you, your monthly benefit will be increased to the amount it would have been if you elected to receive a Single Life Annuity (see below) instead of a Joint and Survivor Annuity, effective the month following the month of your Spouse’s death. The monthly benefit paid to a Participant who elects a Pop-Up Feature will be reduced from the amount he would have received as a 50% Joint and Survivor Annuity or a 100% Joint and Survivor Annuity, as applicable, to compensate for the possibility of an increased benefit following your Spouse’s death. Single Life Annuity If you are not married on your Annuity Starting Date, or if you are married and you and your Spouse properly waive the 100% Qualified Joint and Survivor Annuity, you can elect to receive your benefit as a Single Life Annuity. Under this form or payment, you will receive a monthly benefit for your lifetime. Your benefits will terminate upon your death. When you apply for a pension, you will be notified of the amount of your benefit under each of the benefit forms available to you. If you and your Spouse do not want your pension to be paid as a 100% Qualified Joint and Survivor Annuity, you and your Spouse must timely reject this form of payment by completing a special benefit waiver and election form with your application and filing it with the Fund. Your Spouse’s rejection must be in writing and must be notarized. If you establish to the satisfaction of the Board of Trustees that your Spouse’s consent cannot be obtained because you have no Spouse or your Spouse cannot be located, then spousal consent is not required. You may revoke a prior waiver of the 100% Qualified Joint and Survivor Annuity without the consent of your Spouse at any time during the 180 day period prior to your Annuity Starting Date by notifying the Fund of such revocation in writing, acknowledging its effect before a notary and electing the 100% Qualified Joint and Survivor Annuity. You may not change your form of benefit once your payments have begun. The Fund will notify you of the terms and conditions of the 100% Qualified Joint and Survivor Annuity and allow you 30 days to consider your options before your Annuity Starting Date. However, you may waive this 30-day period and begin receiving your pension sooner as long as you receive this explanation at least seven (7) days before your Annuity Starting Date. Lump Sum Cashout Notwithstanding any other provision of this SPD, if the present value of your benefit or your Spouse’s or Beneficiary’s benefit as of the Annuity Starting Date is $1,000 or less, the Fund will automatically pay this benefit as a single lump sum payment, regardless of whether an application has been submitted to the Fund. If you, your Spouse or your Beneficiary applies for a benefit from the Fund and the present value of the benefit as of the Annuity Starting Date is $5,000 or less, but more than $1,000, the Fund will pay this benefit as a single lump sum payment upon receipt of a properly completed benefit application. Alternatively, you may elect to roll over this payment into an Individual Retirement Account or qualified retirement plan. Please see Section 12 regarding the Fund’s rollover rules.

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Section 9

DEATH BENEFITS A. Pre-Retirement Death Benefits

Qualified Pre-Retirement Surviving Spouse Benefit – Married Participants If you predecease your Spouse prior to your Annuity Starting Date and are Vested at the time of your death, your Surviving Spouse is entitled to receive a Qualified Pre-Retirement Surviving Spouse Benefit, as described in this Section. The amount of the Qualified Pre-Retirement Surviving Spouse Benefit is equal to the benefit your Surviving Spouse would have received had you lived until your earliest retirement date under the Plan, terminated Covered Employment on that date, elected to receive your benefit as a 100% Qualified Joint and Survivor Annuity and died the next day. If you die after reaching your earliest retirement date under the Plan, the Qualified Pre-Retirement Surviving Spouse Benefit will be determined as if you Retired, elected to receive your benefit as a 100% Qualified Joint and Survivor Annuity and died the next day. The Surviving Spouse’s benefit will commence on the later of:

• The first day of the month following the Participant’s death; or

• The first day of the month after the Participant’s earliest retirement date under the Plan. Your Spouse may elect to defer the commencement of the Pre-Retirement Surviving Spouse Benefit. However, this benefit must commence no later than the first month immediately following the date on which you would have attained age 70 ½ if you were still alive, or, if later, the December 1 of the Calendar Year following the year of your death. Please note that, in all cases, the amount of this benefit will be based on the rules in effect at the time you terminate Covered Employment. This means that if you stopped working in Covered Employment prior to death, your Spouse should refer to the terms of the Plan in effect at the time of your termination. This benefit will not be paid to anyone other than your Spouse unless a QDRO provides for payment to a former spouse. Alternative Pre-Retirement Death Benefit If a Participant is not eligible for a Pre-Retirement Surviving Spouse Benefit because he was not married for the one-year period ending on his date of death, the Participant’s Beneficiary may be entitled to receive an alternative death benefit that is equal to the sum of:

• $200 per Pension Credit earned between November 2, 1966 and December 31, 1974 under the Plan; and

• The Contributions made to the Fund on your behalf for work in Covered Employment since

January 1, 1975.

Alternatively, if your Spouse is eligible to receive a Pre-Retirement Surviving Spouse Benefit, your Spouse can elect to receive this Alternative Pre-Retirement Death Benefit as soon as administratively feasible upon your death. Your Spouse will also receive a Pre-Retirement Surviving Spouse Benefit, as described above, but the total value of the Pre-Retirement Surviving Spouse Benefit will be reduced by the amount of this alternative death benefit paid by the Fund on your behalf.

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B. Post-Retirement Death Benefits

Death Benefits Upon Your Death If you are receiving your benefit as a Single Life Annuity and you die before you have received the amount that would have been paid on your behalf under the Alternative Pre-Retirement Death Benefit if you had died before your Annuity Starting Date, your Beneficiary will receive a death benefit equal to the amount of your Alternative Pre-Retirement Death Benefit, reduced by the payments made to you during your lifetime. Death Benefit Upon the Death of You and Your Spouse If you are receiving a Joint and Survivor Annuity and both you and your Spouse die before the total payments made to you and your Spouse combined equal the amount of the Alternative Pre-Retirement Death Benefit that would have been paid on your behalf if you died before your Annuity Starting Date, your Beneficiary will receive a death benefit equal to the amount of your Alternative Pre-Retirement Death Benefit, reduced by the payments made to both you and your Spouse during your lives. Additional Death Benefit The Plan may also pay a benefit to your Beneficiary upon your death in addition to the benefit described in the preceding paragraph. This death benefit is equal to the sum of:

• $2,500; plus • $500 for each year by which your age at death is less than 55, up to a maximum of $2,500.

However, if you Retire after your 61st birthday and if your death occurs within the first 48 months after your Annuity Starting Date, your death benefit will not be less than the following: If your Death Occurs Minimum Benefit Within 12 months of your Annuity Starting Date $4,500 Between 12 and 24 months of your Annuity Starting Date $4,000 Between 24 and 36 months of your Annuity Starting Date $3,500 Between 36 and 48 months of your Annuity Starting Date $3,000

Section 10

APPLYING FOR BENEFITS AND APPEALS

Applying for a Benefit Your application for a pension benefit must be filed with the Fund in advance of the date on which you want your benefits to commence. To ensure that your benefit payments are not delayed, you are urged to file your application as soon as you decide on the date you want to begin receiving your benefits. Early filing will avoid delay in the processing of your application and payment of benefits. In no event will your benefit payments begin earlier than the first day of the calendar month after a completed Part 1 of your benefit application is received by the Fund. You may request a benefit application by contacting the Fund. If your Annuity Starting Date is after Normal Retirement Age and you are not working in Suspendable Employment (see Section 11), your benefit will be equal to the greater of:

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• Your benefit calculated at Normal Retirement Age actuarially increased based on your age on your Annuity Starting Date; or

• Your benefit calculated as of your Annuity Starting Date

You must begin receiving your benefit no later than the April 1st following the later of the Calendar Year in which you attain age 70 ½, even if you are still working in Covered Employment. This is referred to as your Required Beginning Date. The Board of Trustees will make a decision about your application within 90 days of receiving a fully completed Part II of your application. You application will not be considered complete until the Fund receives all the requested documentation. Under special circumstances, an extension of time of up to 90 days may be required. If the extension is needed, you will be notified in writing, before the end of the 90 day period, of the special circumstances and the date when a decision will be made. A decision on your application will be made no more than 180 days after the date on which a fully completed Part II of your application is filed with the Fund. Appeals Procedure If your application for a benefit is denied, in whole or in part, you will be sent a written notice that will:

• explain why the claim was denied; • cite the Plan provision(s) on which the decision was based;

• describe any additional material and information that would be needed in order for the claim to be

reviewed, and explain why the material or information is needed;

• explain what steps need to be taken to appeal the claim’s denial; and

• explain your right to file a lawsuit under Section 502(a) of ERISA following an adverse ruling on appeal (as discussed below).

You can appoint an authorized representative to act on your behalf in filing a claim and/or seeking a review of a denied claim. However, you must notify the Board of Trustees in advance in writing of the name, address, and phone number of your authorized representative. Upon request and free of charge, you or your duly authorized representative will receive reasonable access to and copies of all documents relevant to your claim. A document, record or other information is “relevant” and is required to be made available to you only if it:

• was relied upon by the Board of Trustees in making the benefit determination; • was submitted, considered, or generated in the course of making the benefit determination; or • demonstrates compliance with the Plan’s administrative processes and safeguards required under

federal law. Within 60 days after you receive the notice of denial, you or your authorized representative can file an appeal of the denial of your claim, by mailing or delivering written notice to the Board of Trustees. The request for review should state in clear and concise terms the reason(s) for disputing the denial and also should include any additional information and documents that would help support your claim. If you do not file an appeal within this 60-day period, the Board of Trustee’s denial of your claim is considered to

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be final and binding. The Board of Trustees will make its decision regarding your appeal no later than its next meeting that immediately follows its receipt of this appeal. If the appeal of the denied claim is received within 30 days before the date of the next regularly scheduled Board of Trustees meeting, the decision may be made no later than the date of the second meeting following this receipt of the appeal. If special circumstances require an extension of time, written notification will be provided of such extension and the Board of Trustees will make its decision at the following meeting but in no event later than the third regularly scheduled meeting. Written notice of the decision will be provided as soon as possible but no later than five (5) days after a final decision is made, and will include specific reasons for the decision and cite the Plan provisions on which the Board of Trustees relied in making its decision. The Board of Trustees will also give you a statement indicating that you or your authorized representative is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information relevant to your claim for benefits and a statement explaining your right to bring a civil lawsuit under ERISA following an adverse benefit determination upon your appeal.

Section 11

RETURNING TO WORK AFTER RETIREMENT

If you are receiving a Normal Retirement Pension or a Vested Pension from the Fund, your monthly benefit will be permanently suspended in any month in which you work more than 40 hours in a month in Suspendable Employment. However, in no event will your benefits be suspended in any month after your Required Beginning Date. Suspendable Employment Suspendable Employment means any employment in the same industry and in the same trade or craft, which is either:

• employment of the same nature for which Contributions were required to be made by a Contributing Employer to the Fund on behalf of a Participant and for which Pension Credits were earned under by the Participant under the Plan; or

• covered by a collective bargaining agreement that requires Contributions to the Fund within New

York State at the time of Retirement. With respect to Pension Credits earned on or after January 1, 2000 and any retroactive benefit increase adopted on or after January 1, 2000 with respect to Hours of Service worked prior to that date, the term “trade or craft” includes employment as a supervisor of a trade or craft described in the preceding sentence.

Notification of Suspendable Employment The Fund will notify you during the first month in which it withholds benefits that will be permanently suspended. This notice will include: a description of the reason your benefits are being suspended; a general description of the suspension provisions; a copy of the Plan’s suspension provisions; a statement that an appeal of the Board of Trustees’ decision in this matter may be accomplished using the Plan’s claim denial appeal procedure; and a statement that the Department of Labor regulations dealing with suspension of benefits may be found in Section 2530.203-3 of Title 29 of the Code of Federal Regulations. You may request a determination from the Fund as to whether specific contemplated employment would result in a suspension of your benefits under these rules. You are required to notify the Fund in writing at least 30 days after commencing work that may be considered Suspendable Employment under these rules, without regard to the number of hours you are working. If you fail to

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give timely notice of the number of hours you have worked each month, the Board of Trustees will presume that if you work at least some time in Suspendable Employment in a month, you have or will work in at least 40 Hours and in any subsequent month unless you present proof that you worked less than 40 Hours or have stopped working altogether in Suspendable Employment. Resumption of Benefits following a Suspension In order for your benefits to recommence after they have been suspended, you must notify the Board of Trustees in writing that you have ceased working in Suspendable Employment. Upon the Fund’s receipt of this notice, your benefits will resume no later than the third month after the last calendar month in which your benefits were suspended. Your monthly benefits will be adjusted to reflect any additional Pension Credit earned during your Suspendable Employment, and reduced by any payments you erroneously received when your benefits should have been suspended. Overpayments In the event you receive a monthly pension payment for any month in which your benefits should have been suspended because you were working in Suspendable Employment, the Fund will recover such overpayments by reducing your future monthly benefits by 25%, except that your first monthly payment will be reduced by 100%, until the entire amount of the overpayment has been recovered.

Section 12

OTHER IMPORTANT INFORMATION

Non-Assignment Of Benefits The Plan prohibits a Participant, Pensioner, Beneficiary or Surviving Spouse from assigning, transferring, selling, mortgaging or pledging pension benefits. However, the law provides an exception for federal tax levies and qualified domestic relations orders (“QDROs”). When the Fund receives an Order that provides for the payment of your pension benefits to an Alternate Payee, as defined below, pursuant to a state domestic relations law, the Fund will notify the Participant and the Alternate Payee of receipt of the Order and the procedures for determining whether it is a QDRO. An Alternate Payee is any spouse, former spouse, child or other dependent of the Participant that is recognized under an Order as having a right to receive all, or a portion of, the benefits payable under the Plan. You may obtain a copy of the Fund’s QDRO Procedures by contacting the Fund. Incapacity If the Board of Trustees determines that a Pensioner, Beneficiary or Surviving Spouse is unable to care for his affairs because of a mental or physical incapacity, the Board of Trustees will have benefits paid to the proper legal guardian, representative or committee to be used for the maintenance and support of such Pensioner, Beneficiary or Surviving Spouse. If no guardian, representative or committee has been appointed, the Board of Trustees shall pay any benefits due to such individual to his/her closest living relative as determined by the Board of Trustees in its sole discretion. Any payments made under this Section shall be in full satisfaction of all benefits due under the Plan. Withholding Of Federal Income Tax When you apply to receive your benefit, you must elect how much, if any, of your monthly payments to withhold for federal tax purposes. However, if you receive an eligible rollover distribution, the Fund will give you the option of rolling over that benefit into an individual retirement account or another qualified plan that accepts rollovers. In

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general, an eligible rollover distribution is one that is not part of a series of substantially equal periodic payments made for life or for a period of 10 years or more (e.g., a Single Life Annuity or a Surviving Spouse Annuity). You will be notified upon Retirement if these rules apply to you. If they do, you will receive a special notice and election form explaining the Fund’s rollover rules and giving you the option to elect to rollover all or some of your benefit. If you choose not to rollover any part of an eligible rollover distribution, the Fund is required to withhold 20% of the amount paid to you for federal tax purposes. Right of Recovery If you willfully make a false statement material to your benefit application or provide fraudulent information, your benefits may be denied, suspended or discontinued. The Fund has the right to recover any benefits made to you, your Beneficiary or your Surviving Spouse in reliance on any false statement or information submitted (including withholding a material fact), plus interest and costs. The Fund also has the right to recover any overpayments made to you. The Fund may exercise its right of recoupment through legal process or by offsetting future benefits to you, your Beneficiary or your Spouse.

Section 13

TERMINATION OF THE PLAN Although the Board of Trustees intends to continue the Plan indefinitely, it reserves the right to amend or terminate it at any time. If the Plan is terminated, you will be entitled to any benefit you have accrued to the extent then funded. Your pension benefits under this multiemployer Pension Plan are insured by the Pension Benefit Guaranty Corporation (“PBGC”), a federal insurance agency. A multiemployer plan is a collectively bargained pension arrangement involving two or more unrelated employers, usually in a common industry. Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans that are insolvent. A multiemployer plan is considered insolvent if the plan is unable to pay benefits (at least equal to the PBGC’s guaranteed benefit limit) when due. The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer program, the PBGC guarantee equals a Participant’s years of service multiplied by (1) 100% of the first $11 of the monthly benefit accrual rate and (2) 75% of the next $33. The PBGC’s current maximum guarantee limit is $35.75 per month times a Participant’s years of service. For example, the maximum annual guarantee for a retiree with 30 years of service would be $12,870. The PBGC guarantee generally covers: (1) normal and early retirement benefits; (2) disability benefits if you become disabled before the plan becomes insolvent; and (3) certain benefits for your survivors. The PBGC guarantee generally does not cover: (1) benefits greater than the maximum guaranteed amount set by law; (2) benefit increases and new benefits based on plan provisions that have been in place for fewer than 5 years at the earlier of: (i) the date the plan terminates or (ii) the time the plan becomes insolvent; (3) benefits that are not vested because you have not worked long enough; (4) benefits for which you have not met all of the requirements at the time the plan becomes insolvent; and (5) non-pension benefits, such as health insurance, life insurance, certain death benefits, vacation pay, and severance pay. For more information about the PBGC and the benefits it guarantees, ask the Fund Office or contact the PBGC’s Technical Assistance Division, 1200 K Street, N.W., Suite 930, Washington, DC 20005 or call (202) 326-4000 (not a toll-free number). TTY/TDD users may call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to (202) 326-4000. Additional information about the PBGC’s pension insurance program is available through the PBGC’s website on the Internet at http://www.pbgc.gov.

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Section 14

YOUR RIGHTS UNDER ERISA As a Participant in the Plan, you are entitled to certain rights and protections ERISA. ERISA provides that all Plan participants shall be entitled to: Receive information about the Plan and benefits under the Plan

• Examine, without charge, at the Fund’s office and at other specified locations, such as work sites

and union halls, all plan documents governing the plan, including insurance contracts, collective bargaining agreements and a copy of the latest annual report (Form 5500 series) filed by the Plan with the US Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.

• Obtain, upon written request to the Board of Trustees, copies of documents that govern the

operation of the Plan, including insurance contracts, collective bargaining agreement and the latest annual report (Form 5500 series) and updated Summary Plan Descriptions. The Board of Trustees may charge a reasonable fee for copies.

• Receive a summary of the Plan’s annual financial report. The Board of Trustees is required by law

to furnish each Participant with a copy of the Fund’s annual funding notice.

• Obtain a statement telling you whether you have a right to receive a pension at Normal Retirement Age, and if so, what your benefits would be at Normal Retirement Age if you stop working under the Plan now. If you do not have a right to a pension, the statement will tell you how many more years you have to work to get a right to a pension. This statement must be requested in writing and is not required to be given more than once every 12 months. The Plan must provide the statement free of charge.

Prudent Actions by Plan Fiduciaries In addition to creating rights for Plan Participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate your plan, called “fiduciaries” of the plan, have a duty to do so prudently and in the interest of you and other plan participants and beneficiaries. No one, including your Employer, your union, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a pension benefit or exercising your rights under ERISA. Enforce Your Rights If your claim for a pension benefit is denied or ignored in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge and to appeal any denial, all within certain time schedules. Under ERISA, there are steps you can take to enforce these rights. For instance, if you request a copy of Plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Board of Trustees to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Board of Trustees. If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or federal court. In addition, if you disagree with the Plan’s decision or lack thereof concerning the qualified status of a domestic relations order, you may file suit in federal court. If it should happen that the Plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in federal court. A court will decide

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who should pay court costs or legal fees. If you are successful the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. Assistance with Your Questions If you have any questions about the Plan, you should contact the Fund. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Board of Trustees, you should contact the nearest area office of the Employee Benefits Security Administration (“EBSA”), as listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Pension and Welfare Benefits Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, DC 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Pension and Welfare Benefits Administration.

Section 15

PLAN INFORMATION

Plan Name: The official name of the Plan is the Empire State Carpenters’ Pension Plan. It governs Fund Participants located in the Rochester Region that are members of the Union.

Long Island Office 270 Motor Parkway, Hauppauge, NY 11788-1590

Tel.: (631) 952-9700 · Fax: (631) 952-9813

Westchester Office 14 Saw Mill River Road, Hawthorne, NY 10532-1590

Tel.: (914) 592-8670 · Fax: (914) 592-6742

Buffalo Office 1159 Maryvale Drive, Ste. 20, Cheektowaga, NY 14225

Tel.: (716) 839-7132 · Fax: (716) 839-7136

South Central Office 181 Industrial Park Road, Horseheads, NY 14845

Tel: (607) 739-1326 · Fax: (607) 739-1415

Edition Date: This Summary Plan Description includes the Plan’s rules through October 1, 2009 Plan Sponsor: Board of Trustees of Empire State Carpenters’ Pension Fund Employer Identification Number (EIN): 11-1991772 Plan Number: 001 Type Of Plan: Defined Benefit Pension Plan

Plan Year: Subsequent to the merger between the Empire Fund and the Rochester Carpenters’ Pension Fund, the Plan Year was the 12-month period beginning on July 1. Prior to the merger, the Plan Year was the Calendar Year. As a result of the merger, there was a short Plan Year in effect from January 1, 2007 though June 30, 2007.

Effective Date: The Empire State Carpenters’ Pension Fund (formerly named the Nassau

County Carpenters’ Pension Fund) became effective January 1, 1961. Prior to the merger between Empire Fund and the Rochester Carpenters’ Pension Fund, Participants in this Plan were governed by the Rochester Carpenters’ Pension Fund, which became effective November 1, 1966.

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Agent for the Service: David B. Stewart, CEBS, Empire State Carpenters Pension Fund, of Legal Process 270 Motor Parkway, Hauppauge, NY 11788.

Telephone: 631-952-9700. Sources Of Contributions: Employers are required to make Contributions to the Fund in accordance

with collective bargaining agreements or other written agreements. Participants are not permitted to make Contributions. Upon request, the Fund will make available a complete list of Contributing Employers. Copies of collective bargaining agreements are available for examination by Participants, Spouses and Beneficiaries upon written request to the Fund.

Financial Information: Benefits are paid according to the Plan provisions out of a trust fund which

is used solely for this purpose and for paying reasonable administrative expenses. The Fund will provide you, upon written request, with information as to whether a particular employer is contributing to this Fund. The collective bargaining agreements generally require contributions to the Fund on the basis of a fixed rate per hour worked.

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Appendix

Applicable Pension Rates Please review this Appendix to determine the Applicable Pension Rate that will apply to your benefit. You should proceed through this Appendix until you find the first category in which you satisfy all the eligibility requirements. This will determine the Applicable Pension Rate that will be used to calculate your pension. If you do not meet any of the eligibility requirements described in this Appendix, please contact the Fund to determine the amount of your pension benefit. Unless otherwise noted in this Appendix, your monthly benefit will be increased by $10.00 above the amounts described below.

A. Your Applicable Pension Rate for a Normal Retirement Pension at age 60 is $23.50 for Pension Credits

earned on or after January 1, 2009 and $23.10 for Pension Credits earned between November 1, 1966 and January 1, 2009, if:

• your Annuity Starting Date is on or after January 1, 2009, and • you are not an Inactive Vested Participant on December 31, 2008. The amount of your benefit will not be increased by $10.00 per month and will be reduced by 0.2% for each month by which your Annuity Starting Date precedes your Normal Retirement Age.

B. Your Applicable Pension Rate for a Normal Retirement Pension at age 60 is $23.10 for all Pension

Credits earned after November 1, 1966 if:

• your Annuity Starting Date is on or after January 1, 2006, and • you are not an Inactive Vested Participant on December 31, 2005. The amount of your benefit will not be increased by $10.00 per month and will be reduced by 0.2% for each month by which your Annuity Starting Date precedes your Normal Retirement Age.

C. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned after November 1, 1966 if : • your Annuity Stating Date is on or after January 1, 2000, and • you are not an Inactive Vested Participant on December 31, 1999, and • you have earned at least 250 Hours of Service in 1999 or later.

Your Age on your Annuity Starting Date Applicable Pension Rate

55 $18.50 56 $19.00 57 $19.50 58 $20.00 59 $20.50 60 or older $21.00

D. Your Applicable Pension Rate is determined using the following tables for all Pension Credits earned

after November 1, 1966 if:

• your Annuity Stating Date is on or after January 1, 1997, and • you are not an Inactive Vested Participant on December 31, 1996, and • you have earned at least 250 Hours of Service in 1996 or later.

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For Pension Credit earned prior to January 1, 1996

Your Age on your Annuity Starting Date Applicable Pension Rate 55 $17.00 56 $17.50 57 $18.00 58 $18.50 59 $19.00 60 or older $19.50

For Pension Credit earned on or after January 1, 1996


55 $18.50 56 $19.00 57 $19.50 58 $20.00 59 $20.50 60 or older $21.00

E. Your Applicable Pension Rate is determined using the following tables for all Pension Credits earned


• your Annuity Stating Date is on or after January 1, 1996, and • you are not an Inactive Vested Participant on December 31, 1995, and • you have earned at least 250 Hours of Service in 1995 or later. For Pension Credits earned prior to January 1, 1996


55 $15.50 56 $16.00 57 $16.50 58 $17.00 59 $17.50 60 or older $18.00

For Pension Credits earned on or after January 1, 1996


55 $18.50 56 $19.00 57 $19.50 58 $20.00 59 $20.50 60 or older $21.00

F. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned


• your Annuity Stating Date is on or after between January 1, 1995, and • you are not an Inactive Vested Participant on December 31, 1994, and • you have earned at least 200 Hours of Service in 1993 or later.

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G. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned




55 $10.50 56 $11.00 57 $11.50 58 $12.00 59 $12.50 60 or older $13.00

H. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned




I. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned




55 $9.00 56 $9.50 57 $10.00 58 $10.50 59 $11.00 60 or older $11.50

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J. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned after November 1, 1966 if:

• your Annuity Stating Date is on or after between January 1, 1990, and • you are not an Inactive Vested Participant on December 31, 1989, and • you have earned at least 200 Hours of Service in 1988 or later.


55 $8.00 56 $8.50 57 $9.00 58 $9.50 59 $10.00 60 or older $10.50

K. Your Applicable Pension Rate is determined using the following table for all Pension Credits earned




55 $6.50 56 $7.00 57 $7.50 58 $8.00 59 $8.50 60 or older $9.00

L. Your Applicable Pension Rate is determined using the following table for all Pension Credits

earned after November 1, 1966 if:

• your Annuity Stating Date is on or after January 1, 1986, and • you are not an Inactive Vested Participant on December 31, 1985. and • you have earned at least 200 Hours of Service in 1984 or later.


55 $6.00 56 $6.50 57 $7.00 58 $7.50 59 $8.00 60 or older $8.50

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EMPIRE STATE CARPENTERS’ PENSION FUND STATE . CARPENTERS’ PENSION FUND . SUMMARY PLAN...

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