BAC Local 5 New York Pension Summary Plan Description

NORMAL PENSION
Eligibility: You must be at least age 65 with five years of continuous participation in the plan.
Monthly Pension: The sum of a) 1.15 times your accrued pension under this plan as of 12/31/90 and b) $50. times your years of Pension Service earned under this plan after 1990. This formula applies only if you have Pension Service earned under this plan after 6/30/93.

EARLY PENSION
Eligibility: You must be at least age 55 and have at least 15 years of Pension Service (counting no more than one year of Pension Service in any one plan year) or ten years of Vesting Service or be at least age 62 and have at least five years of Vesting Service.
Monthly Pension: Your accrued pension reduced by Early Pension factors. But, no reduction in your accrued pension takes place if you are at least age 60 and have at least 30 years of Pension Service (counting no more than one year of Pension Service in any one plan year) or if you are at least age 58 and have at least 40 years of Pension Service (counting no more than one year of Pension Service in any one plan year).

DISABILITY PENSION
Eligibility: You must be entitled to a Social Security disability benefit, do not work, be in the employ of a contributing employer at the time your disability starts (or available for such work), have been recently active in the plan, have at least 15 years of Pension Service (counting no more than one year of Pension Service in any one plan year) or have at least ten years of Vesting Service (counting no more than one year of Vesting Service in any one plan year).
Monthly Pension: Depends upon the amount of Service you have.

SURVIVING SPOUSE PENSION
Eligibility Before Retirement: At the time of your death you are vested and have been married for at least one year up to your death.
Eligibility After Retirement: On an optional basis, i.e., the Married Couple form.

PENSION SERVICE
Currently, you earn Future Pension Service at the rate of one-seventh year of Pension Service for each 100 hours for which your employer is required to contribute to the plan in a plan year.
Different rules applied in the past.

VESTING SERVICE
You earn Vesting Service after 1990 at the rate of one year of Vesting Service for each plan year in which you earn at least 250 hours of Pension Service or at least 1000 hours of Pension Service and/or related service. Your Vesting Service earned before 1991 (not lost by a break in service) will also count.
Currently, no partial Vesting Service may be earned. In any one plan year you will earn either one year of Vesting Service or no Vesting Service.

VESTING
Eligibility: Once you have ten years of Vesting Service or have satisfied the age and service requirements for a Normal or Early Pension benefit, you are 100% vested in your accrued pension benefit. The service requirement for non-collective bargaining participants is five years.
Monthly Pension: Same as Normal Pension, to start at Normal Pension Age. If otherwise eligible, you may start an Early Pension at Early Pension Age.

LUMP SUM DEATH BENEFIT
Eligibility: You must be a non-retired plan participant who has at least five years (counting no more than one year in any one plan year) of Future Pension Service earned after 1954 and earned at least one hour of Pension Service after 1990 or a pensioner whose benefit was effective after 1997.
Amount: $250. for each half-year of your Pension Service earned before 1980 plus your employers contributions to the plan made on behalf of your work after 1979 (or after your prior plan merged with this plan, if later) less all benefit payments made to you, your surviving spouse and/or alternate payee.

BRICKLAYERS AND ALLIED CRAFTWORKERS LOCAL 5 NEW YORK PENSION PLAN
Plan Administrator:  Dickinson Group, LLC
825 East Gate Boulevard
Garden City, NY 11530
Phone #: (516) 833-9300

TO: PARTICIPANTS IN THE BRICKLAYERS AND ALLIED CRAFTWORKERS LOCAL 5 NEW YORK PENSION PLAN

FROM: TRUSTEES OF THE BRICKLAYERS AND ALLIED CRAFTWORKERS LOCAL 5 NEW YORK PENSION PLAN

DATE: JANUARY 1, 1998

This booklet is intended to describe the various provisions of the pension plan as it is in effect on January 1, 1998. We will refer to the plan as the;BAC 5 NY Pension Plan; and to the local union that negotiates the plan as;BAC 5 NY;. The booklet has seven parts:

A. Questions and answers regarding the plan;

B. Plan provisions regarding suspension of benefits;

C. Claim denial appeal procedure;

D. Plan provisions regarding "rollover";

E. Plan provisions regarding qualified domestic relations orders;

F. Your rights under the Employee Retirement Income Security Act of 1974; and

G. Technical details - this section of the booklet is provided to you under the terms of the Employee Retirement Income Security Act of 1974 (ERISA) and contains many technical details of the plan intended to insure that you will be able to enjoy all the rights to which you are entitled under the provisions of the plan.

A number of significant changes have been made since the last booklet was distributed to you. You should read this booklet thoroughly to make sure that you are completely familiar with the revised plan.

THE DETAILS IN THIS BOOKLET SHOULD NOT BE INTERPRETED AS RESTORING ANY SERVICE YOU HAVE LOST UNDER PRIOR PROVISIONS OF THIS PLAN OR PRIOR PLANS AND SHOULD NOT BE INTERPRETED AS INCREASING ANY FROZEN BENEFIT YOU MAY ALREADY HAVE NOR INCREASING YOUR BENEFIT IF YOU ARE ALREADY RECEIVING A PENSION.

To give you an idea of our role with regard to the plan, you should know that we are responsible for collecting and admini-stering the contributions to the plan which are required by agreement between your employer and BAC 5 NY or between your employer and the Trustees. In addition, we are required to formulate and administer the provisions of the plan itself.

The Trustees are assisted in these tasks by professional advisors whom we may hire from time to time. These could include an actu-ary, an attor-ney, an auditor and one or more investment managers.

The daily operation of the plan is maintained by the Plan Manager located at the Plan Office. You are encouraged to make use of the facilities of the Plan Office where you will find assistance in understanding your benefits.

If, after having gone through this booklet, you have any questions regarding the plan or its operation, please do not hesitate to contact the Plan Office.

In the event there appears to be a conflict between the description of any plan provision in this booklet and its statement in the Plan Of Benefits, the language contained in the Plan Of Benefits (available at the Plan Office) is the official and governing language.

Nothing in this booklet is meant to interpret, or extend, or change, in any way, the provisions expressed in any of the plan documents. The Trustees reserve the right to amend, modify, or discontinue all or part of this plan whenever, in their judgment, conditions so warrant.

This booklet and the Plan Of Benefits are authorized sources of plan information for you. The Trustees of the plan have not empowered any one to speak for them with regard to the pension plan. No employer, union representative, supervisor or shop steward is in a position to discuss your rights under this plan with authority.

If you have a question about any aspect of your participation in the plan, you should, for your own permanent record, write to the Plan Manager or Trustees. You will then receive a written reply, which will provide you with a permanent reference.

Some major changes have taken place in your pension plan as the result of actions taken by the Trustees since the last booklet was printed.

Each such plan change has its own effective date. However, no Pension or Vesting Service that was lost under prior plan provisions is restored as a result of these changes.

1. What are the purposes of the plan?

The purposes of the plan are:

A. to provide an income for you after you retire from work in the industry in the plan area;
B. to provide an income for your spouse should you die before your spouse;

C. to provide an income for you if you should become disabled; and
D. to provide a lump sum death benefit under certain circumstances.

The income you and/or your spouse may receive under the plan will be in addition to any Social Security benefits you are entitled to receive. Of course, you must satisfy certain conditions and eligibility requirements (summarized below) to receive these benefits from the plan.

2. When did the plan start?

The plan started in 1959.

3. Who is covered by the plan?

The group covered consists, chiefly, of employees who work under the terms of collective bargaining agreements between the employers of the employees and BAC 5 NY which agreements call for contributions to this pension plan.

4. Who is responsible for the operation of the plan?

The plan Trustees, composed of persons appointed by BAC 5 NY and by contributing employers in equal numbers.

5. Who is responsible for interpreting the plan and for making determinations under the plan?

The plan Trustees. In order to carry out this responsibility, the Trustees, or their designee, have exclusive authority and discretion to:

A. determine whether an individual is eligible for any benefits under the plan;
B. determine the amount of benefits, if any, an individual is entitled to from the plan;
C. interpret all of the provisions of the plan and this description; and
D. interpret all of the terms used in the plan and in this description.

All such determinations and interpretations made by the Trustees, or their designee, shall:

A. be final and binding upon any individual claiming benefits under the plan;
B. be given deference in all courts of law, to the greatest extent allowed by applicable law; and
C. not be overturned or set aside by any court of law unless found to be arbitrary and capricious, or made in bad faith.

6. If I was a participant in a pension plan that has merged into this pension plan, how am I treated?

We call such a plan a; prior plan;. The accrued monthly Normal Pension benefit you had accrued at the date of merger will be credited to you under this plan as well as, for the purposes of entitlement to benefits under this plan, the amount of Pension Service and Vesting Service you had accrued at the date of merger.

FINANCING

A most important element of your pension plan is money. Where it comes from, how it is managed, and to what uses it may be put should be of interest to you.

7. Who pays for the plan?

The employers who have collective bargaining agreements with BAC 5 NY (or special agreements with the Trustees) that call for contributions to the plan.

8. How are the plan moneys managed?

All of the plan assets are held in trust by the Trustees for the participants and beneficiaries of the plan.

The Trustees have the ultimate responsibility for the management of plan money. However, the Trustees are allowed, under law, to hire professional investment managers to provide the expert assistance in this very complex field of managing pension plan money.

9. May I borrow on the pension money I am to get?

No. Furthermore, plan provisions prohibit assignment of your pension payment for the payment of any obligation. However, there is an exception for a "qualified domestic relations order". A domestic relations order is a court order specifying that a specific amount of your pension must be paid to your child, or former spouse, or other person.

Finally, there is an exception if you are found liable to the plan for any wrongdoing.

10. When I retire, may I take a cash settlement instead of monthly pension payments?

No. The purpose of the plan, as stated above, is to provide monthly pensions to retired participants.

11. If the plan is discontinued, what will happen to the assets of the plan?

Under the terms of federal law, the assets of the plan are to be used for the benefit of the participants, surviving spouses and beneficiaries, in an order of priority that is set forth under federal law. If all of the plan benefits are provided by the assets of the plan, and there is still money left over, the money is to be used to increase the benefits of everyone. Under no circumstances may money which has been properly contributed to the plan ever be returned to any employer or to BAC 5 NY.

PLAN YEAR

Records under the plan are kept on a "plan year" basis.

12. What is a plan year?

A plan year means the 12 consecutive month period beginning with January 1st and ending with the following December 31st.

JOINING THE PLAN

A qualifying period of service is required before you are considered a participant in the plan. Being a participant entitles you to receive certain documents explaining the plan and reports dealing with the plan's operation. You should be interested in how you become a participant and how your participation can stop.

JOINING THE PLAN

13. How do I become a participant in the plan?

After 1996, you will become a participant on the first day of the plan year in which you earn at least 400 hours of Pension Service.

Another way in which you may become a participant in the plan is to earn at least 1000 hours of Vesting Service during a 12 consecutive month period (beginning with your first date of hire by a contributing employer). If you do, you will become a participant on the first day of the plan year nearest the completion of such 12-month period. If, during the first 12 months of your work, you do not earn at least 1000 hours of Vesting Service, then your qualifying period will be switched to a plan year basis. This means that, in order to become a participant in the plan after that, you must earn at least 1000 hours of Vesting Service during a plan year. When you do satisfy this requirement, you will become a participant on the first day of the plan year immediately following the plan year in which you earned such hours unless you already became a participant earlier.

14. Can my participation in the plan ever stop?

Yes. If you break your service when you are not vested, your participation in the plan will stop. Break in service and vesting are explained later. Of course, your participation will also stop in the event of your death.

15. Does self-employment count?

No. Under no circumstances will you receive any credit, for any purpose, under the plan for work in self-employment. Certain federal laws may require that you are prohibited from earning credit under the plan as the result of your ownership or position in a contributing employer's organization. If you have a question on this point, you should contact the Plan Manager.

16. Suppose my employer (or I) wishes to contribute to the pension plan for me, even though it is not called for in a collective bargaining agreement, is it allowed?

No! Unless it is covered in a written agreement between your employer and BAC 5 NY (or in a special agreement between your employer and the Trustees), no Pension Service can be given to you (even if your employer, or you, contribute to the pension plan) for any work you do.

EARNING PENSION SERVICE

The Pension Service you accumulate under the plan is valuable to you because your entitlement to a pension benefit may depend on it.

Because of this, it is very important that you make sure that the Plan Manager has a complete record of your work that might earn you Pension Service under the plan.

17. What is Pension Service?

Future Pension Service refers to service you receive for time for which your employer is required, by the terms of a collective bargaining agreement, to contribute to the pension plan. In addition, you may be granted Past Pension Service for certain times for which contributions were not required in accordance with prior plan provisions.

18. Why is Pension Service important?

Pension Service is important in determining your eligibility for an Early or Disability Pension and in calculating the size of all your benefits.

19. How do I earn Future Pension Service?

You earn Future Pension Service at the rate of one-seventh of a year of Future Pension Service for each 100 hours in a plan year for which your employer is required to contribute for you to the plan.

Future Pension Service can be earned only while you are a participant in the plan.

You will be credited with no Future Pension Service for any plan year during which you earn less than one-seventh of a year of Future Pension Service.

20. How do I earn Past Pension Service?

Earlier rules of this plan and the rules of prior plans; will determine your entitlement to any Past Pension Service. If you have a question about this, please contact the Plan Office.

21. May I earn any Pension Service for time that I served in the armed forces?

You will earn Pension and/or Vesting Service for service in the armed forces of the U.S.A. to the extent required by law.

22. Can I lose my Pension Service once I have earned it?

Yes. If you incur a break in service (see question 30.) at a time when you are not vested (see question 27.), you will forfeit the Pension Service and Vesting Service that you have accumulated prior to the end of the break in service.

However, under certain circumstances, such forfeited Pension Service and Vesting Service may be reinstated (see question 34.).

EARNING VESTING SERVICE

It is important that you know what Vesting Service is. It is important for a number of benefits under the plan.

23. What is a year of Vesting Service?

It means a plan year in which you earn at least 250 hours of Pension Service or at least 1000 hours of Pension Service and/or Related Service.

24. What is Related Service for the purposes of the plan?

You earn an hour of "Related Service" under the following circumstances:

A. you work for a contributing employer but in a classification for which the employer is not required by a collective bargaining agreement to contribute to the plan, provided such employment immediately precedes or follows employment with the same contributing employer for which the employer was required by the collective bargaining agreement to contribute for other employees; or

B. you are employed by a contributing employer in a classification for which the employer is required by a collective bargaining agreement to contribute to the plan and you are paid by the employer for a period of time in which you did not actually work, such as vacation, holiday or sickness.

The maximum amount of credit that you may earn under "B." above is 501 hours of Related Service for any one non-work period.

If any period of employment in which you are earning Related Service is interrupted by your quitting, being fired by the contributing employer, or retirement, then you will stop earning such credit as of the date you quit, are fired or retire.

YOU CANNOT EARN RELATED SERVICE CREDIT UNLESS THE PERIOD OF TIME DESCRIBED ABOVE IMMEDIATELY PRECEDES OR FOLLOWS EMPLOYMENT THAT EARNS PENSION SERVICE.

If you earn Related Service, it can be important for purposes of initial participation in the plan and for accumulating Vesting Service and, therefore, becoming entitled to vesting under the plan.

YOU WILL NOT, HOWEVER, RECEIVE CREDIT FOR A PERIOD OF RELATED SERVICE UNLESS, DURING SUCH PERIOD, YOUR EMPLOYER IS OBLIGATED TO CONTRIBUTE TO THE FUND, FOR OTHER EMPLOYEES.

25. Why is Vesting Service important?

Accumulating enough years of Vesting Service (ten) is one way to become "vested" under the plan.

The amount of your Vesting Service is also important to you in the event you break your service before you are vested. If you do break your service before you are vested and you return to work under the plan soon enough after the break, your Pension Service and Vesting Service lost because of the break will be reinstated. The number of years of Vesting Service that you have under the plan at the time of the break will be important in determining whether or not you qualify for this reinstatement. See question 34.

BECOMING VESTED

This aspect of pension plans was a special concern to the designers of ERISA.

26. What is Vesting?

Vesting refers to non-forfeitable ownership of your right to a pension benefit under the plan. Once you become vested, it does not matter what happens after that time: you will be entitled to receive your pension benefit at your Normal Pension date (or your Early Pension date if eligible). Of course, this right stops if you die before your pension starts.

If you die after becoming vested, but before starting your Normal or Early Pension, your surviving spouse may be eligible for a reduced Pre-Retirement Surviving Spouse Pension under the plan (see question 65.).

Even if you break your service after you become vested, you will still be entitled to a benefit at pension age (if you are still alive).

In order to become vested under the plan, you must fulfill certain requirements.

27. What are the requirements for vesting under the plan?

You will be vested if you satisfy any one of the following two alternate requirements:

A. you satisfy the age and service requirements for a Normal or Early Pension; or

B. you have at least ten years of Vesting Service.

Plan participants who are not covered by a bargaining agreement when earning plan service may satisfy the vesting requirement with five years of Vesting Service.

The vesting requirement is not retroactive. If you have broken your service and lost Pension and/or Vesting Service (because you were not vested) at some time in the past, the current plan does not reinstate such lost Service. But see question 34.

BREAK IN SERVICE

There may be times in your work history when your employment under the plan is interrupted by a break in service. Several plan provisions deal with this situation.

28. What is a Break Year?

A Break Year means a plan year, while you are a participant, during which you are credited with less than 100 hours of Pension Service and with less than 500 hours of Vesting Service.

29. Are there any exceptions to this provision?

Yes. If you do not earn enough service in a plan year to avoid a Break Year and the reason you are absent from covered employment is because of your pregnancy, your spouse's delivery of a child, your adoption of a child, or your caring for your child immediately following birth or adoption, you will not be charged with a Break Year for that plan year. If you are already protect-ed against a Break Year for the plan year in which the absence starts, the exception will be applied to the following plan year, but, once again, only for the limited purpose of not being charged with a Break Year for that plan year.

Further, you will be protected against a break in service in accordance with all applicable federal veterans' legislation.

30. What is a break in service?

If you experience three consecutive Break Years while you are a participant, you will incur a break in service.

31. What happens if I experience a break in service when I am not vested?

If you are not vested, your participation in the plan will stop, you will forfeit your Pension Service and Vesting Service that was earned prior to the break and you will also lose your most recent date of participation. But see question 34.

32. What happens if I experience a break in service when I am vested?

If you are vested at the time of the break in service, you are entitled to receive, at pension age, the accrued benefit you have earned before the break. However, the amount of benefit to which you will be entitled will be "frozen" at the level of benefits in effect as of the end of the plan year immediately preceding the start of the three-year break in service.

33. Can my accrued benefit be "frozen" in any other way?

Yes. Even if you do not receive a break in service, your benefits will be considered to have become frozen benefits (whether vested or not) if you experience three consecutive plan years in each of which you fail to earn at least one-seventh of a year of Pension Service.

34. Can any Pension Service and Vesting Service that I lose because of a break in service ever be reinstated?

This is where your years of Vesting Service can play an important part.

If you break your service when you are not vested, and return to employment under the plan sometime after that, and earn at least one-seventh of a year of Pension Service or 500 hours of Vesting Service in a plan year, your accrued benefit, Pension Service, Vesting Service and most recent date of participation that was forfeited will be reinstated if the number of consecutive Break Years that you incur is less than five or is less than the number of years of Vesting Service that you had at the time of the break.

However, because you did receive a break in ser-vice, your accrued benefit will be classed as interrupted and will be "frozen" as described in question 32.

NORMAL PENSION

The purpose of the pension plan is to arrange for the continuation of a portion of your wages after your working career is completed. Normally, this is at age 65 if you have satisfied the service requirement.

35. When may I start receiving my Normal Pension?

Once you are at least age 65 and withdraw from work covered by the plan in the plan area, you may apply for a Normal Pension benefit provided that you have satisfied the service requirement for the Normal Pension.

36. How do I satisfy the service requirement for a Normal Pension?

When you have been a plan participant for at least five consecutive years up to your Normal Pension date.

37. How much is the Normal Pension?

The Normal Pension is a monthly benefit equal to the sum of:

A. your accrued monthly Normal Pension as of 12/31/90 multiplied by 115%; and

B. $50. multiplied by your years of Pension Service earned after 1990.

The above formula applies only if you have Pension Service earned after 6/30/93.

If your; prior plan; merged with this plan after 6/30/93, your Normal Pension is a monthly benefit equal to the sum of:

C. your accrued monthly Normal Pension under your prior plan as of the date of merger; and

D. $50. multiplied by your years of Pension Service earned after the date of merger.

If you have frozen service, then you should read questions 32. and 33. and consult with the Plan Manager.

If your pension is to be paid in the Married Couple form an adjustment will be made in the size of your benefit.

EARLY PENSION

Under certain circumstances you may start your pension before age 65. Because your life expectancy is longer the younger you are, and because of certain other actuarial aspects, there is usually a reduction in the amount of your otherwise Normal Pension if you choose to retire early.

38. Must I wait until age 65 to start my pension?

If you have the proper service requirement for an Early Pension, you may start your pension after age 55.

39. What is the service requirement for an Early Pension?

To be eligible to receive an Early Pension, you must have at least fifteen years of Pension Service or at least ten years of Vesting Service. If you are at least age 62, you need have only five years of Vesting Service to satisfy this requirement.

40. How is the amount of my Early Pension calculated?

You start by calculating the amount of your monthly pension benefit as if you had reached your Normal Pension date. Then you reduce that amount by 1/4 of 1% for each calendar month that your Early Pension date precedes the first day of the month following your 62nd birthday and reduced further by 1/2% for each month your Early Pension date precedes your 60th birthday. However, there is no such reduction if you: have at least 40 years of Pension Service (counting no more than one year of Pension Service in one plan year) and are at least age 58, or have at least 30 years of Pension Service (counting no more than one year of Pension Service in one plan year) and are at least age 60, or have at least 25 years of Pension Service (counting no more than one year of Pension Service in one plan year) and are at least age 62, or have at least five years of Vesting Service and are at least age 62.

DISABILITY PENSION

It's possible that a participant may not be able to reach Normal or Early Pension age in active service because of total dis-ability. A special plan benefit is intended to provide a pension benefit to such an eligible disabled participant.

41. How disabled must I be in order to receive a Disability Pension?

To receive a Disability Pension for a month you must be so disabled that you are eligible for a Social Security disability benefit for that month and do not work at any occupation in that month. However, you should not wait to hear from Social Security to file your application with the Plan Manager. As soon as you believe you might be entitled to a Disability Pension under the plan, you should apply.

42. What are the other requirements for entitlement to a Disability Pension?

You must make application for the pension, you must not have reached your 65th birthday at the time of the commencement of your Disability Pension, you must not have received an Early Pension under the plan, you must have been active in covered employment at the time your disability started and you must satisfy the service requirement.

43. What does "active in covered employment" mean as it relates to the Disability Pension?

Being "active in covered employment" means you satisfy both of the following:

A. you must have been credited with at least 100 hours of Pension Service during the plan year in which your disability starts or in at least one of the two plan years immediately before; and

B. either you must be employed in employment covered by the plan at the time your disability starts or at the time the accident (or incident) that causes your disability starts, you are available for covered employment and you are not employed in substantial gainful work outside employment covered by the plan.

44. What is the service requirement that applies to the Disability Pension?

You must either have at least 15 years of Pension Service (counting no more than one year of Pension Service in any one plan year) or have at least ten years of Vesting Service (counting no more than one year of Vesting Service in any one plan year).

45. What determines when a disability starts?

The determination of that date by the Social Security Administration will govern.

46. What is the size of the Disability Pension?

The size of your monthly Disability Pension will depend upon how much Service you have at the time your disability starts. There is a Level A and a Level B.

Level A- If you have at least 15 years of Pension Service (counting no more than one year of Pension Service in any one plan year), your monthly Disability Pension amount will be the same amount you would have received if your Disability Pension date were your Normal Pension date, but counting your Pension Service up to your Disability Pension date and the unit monthly benefit rate that is in effect on the date that the Social Security Administration determines was the date you become disabled.

Level B- If you have at least ten years of Vesting Service (counting no more than one year of Pension Service in any one plan year) but do not have at least 15 years of Pension Service (counting no more than one year of Pension Service in any one plan year), your monthly Disability Pension amount will be calculated the same as for Level A and then reduced by 1/4% for each month that your Disability Pension date precedes what would have been your earliest Normal Pension date (the maximum reduction is 50%).

APPLYING FOR YOUR PENSION

All benefits must be applied for under the plan. This rule applies to employees and surviving spouses. It is important that all information asked for be given as accurately as possible. Any payments made in error to anyone will be owed to the plan and must be repaid.

47. When should I submit an application for my pension?

Your application should be filed at least three months in advance of the date you wish to have your pension become effective. This will enable the Trustees to process your application and be ready to pay benefits promptly on the first day of the month that you wish. You may file an application while you are still working. Pension benefits cannot commence effective with a day prior to the first day of the month that is at least 30 days after the Plan Manager has provided you with information regarding the Married Couple form of your pension.

48. Do I have to take a medical examination?

No medical examination is required to qualify for a Normal or Early Pension under the plan. However, a medical examination will most likely be required by the Social Security Administration for the purpose of determining your eligibility for a Disability Pension.

49. Will proof of age be required?

Yes. In order to receive a pension benefit, proof of age must be submitted to the Plan Manager. A birth certificate is the best proof of age; however, if you cannot obtain a birth certificate, the Plan Manager will tell you what will be required. The same rule applies to a surviving spouse or alternate payee entitled to a pension under the plan.

You need not wait until your Pension Date to submit evidence of your date of birth; the earlier you submit evidence, the better.

50. If I forget to apply when I am eligible, can my pension payments be retroactive?

No.

51. Must I apply for my pension as soon as I am eligible?

No. You may postpone the start of your pension, but you cannot postpone the effective date of your pension beyond the April 1st right after the calendar year in which you reach age 70 1/2. At that time you must receive your pension unless you are still working in covered employment.

RECEIVING YOUR PENSION

Since your pension payments will be a substantial part of your retirement income, the details regarding the actual payment are explained in the following questions and answers.

52. When will my pension payments start once I have applied?

If you have satisfied all of the requirements of this plan, your pension will start effective with the date you choose, but such date cannot be before the first day of the calendar month that is after the Plan Manager receives your application nor, for Normal and Early Pensions, the earliest first day of the calendar month that is at least 30 days after the Plan Manager provides you with information regarding the Married Couple option.

53. How often will I receive my pension payments?

Pension payments are made monthly at the beginning of the month for the month then starting.

54. For how long will I receive my pension payments?

Normal and Early Pension payments are payable as long as you live; the last payment that is payable to you is the one for the month in which you die. Disability Pension payments are payable as long as you live, but not beyond age 65, except that, if you stop being disabled (in accordance with the terms of what disability means under the plan), the last Disability Pension payment will be the payment due for the month in which you recover. A Disability pensioner, at age 65, will have the opportunity to apply for a Normal Pension.

55. Are there any circumstances under which my pension payments can be reduced, suspended or forfeited?

Once you become eligible for a Normal or Early Pension, the payments are non-forfeitable. The only instance in which a suspension of such payments may take place is the situation in which, for at least 40 hours during a particular month, you are employed or self-employed in prohibited employment.

If you do work or supervise such prohibited employment (or are self-employed) in such employment, you are not entitled to a pension payment for that month.

Please refer to the portion of the plan (contained in Part B. of this booklet) describing the suspension provisions and prohibited employment.

Further, if you work even one hour in prohibited employment, any retiree welfare coverage you may have under the Local 5 Welfare Plan will be cancelled immediately.

56. If I return to work under the plan after once retiring on a Normal or Early Pension, then I retire again, how is my pension calculated?

You will receive credit for the additional Pension Service you have earned and your pension benefit will be adjusted annually, at the start of the next plan year, to reflect any additional benefit (offset by the value of any pension payments received during the plan year).

57. If I am interested in providing that my spouse participate in some way in my pension benefit, what should I do?

There is such a benefit available; read question 58. When you apply for a pension benefit, if you are eligible, you may provide that your spouse will participate with you. You will be given the details as they apply to your own situation, and you will be required to take at least a 30-day period to make up your minds about it.

SURVIVING SPOUSE'S PENSIONS

There are two benefits available under the plan that apply to the surviving spouse of a participant. One benefit may be waived by the retiring participant's spouse - the Married Couple benefit. The other benefit is automatic in the plan - the Pre--Retirement Surviving Spouse Pension.

58. What is the Married Couple form?

If you apply for a Normal or Early Pension, you and your spouse will have the opportunity to receive a reduced monthly pension paid to you as long as you live with the provision that, if your eligible spouse outlives you, your surviving spouse will start receiving 50% of the reduced monthly pension that you had been receiving.

This election must be made also by a participant receiving a Disability Pension when the partici-pant reaches the time that the participant satisfies the age and service requirement for a Normal Pension benefit; otherwise, the participant's pension will stop until such choice is made.

In order for your surviving spouse to be eligible to receive such a benefit at your death, your spouse must have been lawfully married to you for at least one year up to the start of your pension (your spouse need not be married to you at your death).

However, if you are married on the effective date of your pension, but have not been married for at least one year at the effective date of your pension, you may also elect the Married Couple form; however the Married Couple form will not become effective until your first wedding anniversary, and, in this situation, you and your spouse must also be married to each other for one year up to your death for your spouse to be eligible to receive the benefit.