Information Required by ERISA

In this Section:

1. Your Rights Under ERISA
2. Eligibility for Benefits
3. Plan Termination and Plan Amendment
4. Vesting

Name of Plan

Operating Engineers Local 12 Defined Contribution Plan.

Type of Plan

This is a money purchase pension plan under the Internal Revenue Code. A money purchase pension plan is one that specifies a definite employer contribution rate per hour, establishes individual accounts for each plan Participant and provides benefits based solely upon the amount in the Participant’s account at the time of distribution.

Type of Administration

The Board of Trustees of the Operating Engineers Local 12 Defined Contribution Trust Fund is the administrator of the Plan. The Board of Trustees is composed of an equal number of Employer Trustees and Union Trustees appointed pursuant to the provisions of the Trust Agreement. Many of the day to day tasks of Plan administration have been delegated by the Board of Trustees to the Operating Engineers Fund, Inc.

Administrative Corporation (Fund Office) which has been engaged by the Board of Trustees of the Trust Fund. The address and telephone numbers of the Administrative Office are:

Operating Engineers Funds, Inc.
100 Corson Street, Suite 100
Pasadena, CA 91103
(866) 400-5200
www.oefi.org

The Board of Trustees has delegated the tasks of maintaining daily individual account balances and processing approved applications for distributions to John Hancock Retirement Services, LLC whose address, telephone number and website is as follows:

John Hancock Retirement Services, LLC
690 Canton Street
Westwood, MA 02090
(833) 388-6466
www.myplan.johnhancock.com

Plan Year

This Plan’s fiscal year for record keeping and account purposes is from July 1 through June 30.

Funding and Contributions

Plan Participants may not contribute to this Plan. Employer contributions are the only source of funding. These contributions are made according to the provisions of collective bargaining agreements between Local 12 and contributing employers (or, in some cases, other types of written agreement between employers and the Trust Fund).  Assets of the Plan and Trust are held in trust by the Reliance Trust Company for the benefit of plan Participants and beneficiaries. Benefits are provided directly from the assets of the Trust Fund.

PBGC Coverage

The Plan is not insured by the Pension Benefit Guarantee Corporation (PBGC) because the PBGC does not insure money purchase plans.

Collective Bargaining Agreements

This Plan is the result of multiple collective bargaining agreements between Operating Engineers Local 12 and employer associations and individual employers. Copies of these Collective Bargaining Agreements are available to you at the Administrative Office for your inspection free of charge. Upon written request, the Administrative Office will supply you with a copy of a Collective Bargaining Agreement, but you must pay the reasonable copying costs for any such copy.

Participating Employers and Employer Groups

The Administrative Office will give you information as to whether a particular employer or employer group is participating in this Plan. If the employer or employer group is participating in this Plan, the Fund Office will give you the employer’s or the employer group’ s address.

Plan Administrator

Board of Trustees of the Operating Engineers Local 12
Defined Contribution Trust Fund
100 Corson Street, Suite 100
Pasadena, CA 91103
(866) 400-5200

Members of the Board of Trustees

Agent for Service of Legal Process

The name and address for the Service of Legal Process is:

Michael B. De Chellis
Operating Engineers Funds, Inc.
100 Corson Street, Suite 100
Pasadena, CA 91103
(866) 400-5200

Legal process may also be served on a Plan Trustee.

Plan Identification Numbers

The Employer Identification Number issued to the Board of Trustees by the Internal Revenue Service is 83-0984282, Plan Number 001.

Your rights under ERISA:

As a Participant in the Operating Engineers Local 12 Defined Contribution Plan, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 as amendment (ERISA). ERISA provides that all Plan Participants shall be entitled to examine without charge at the Fund Office and at other locations, such as Local Union offices, all Plan Documents, including any insurance contracts, if any, collective bargaining agreements and a copy of the latest annual report Form 5500 series filed by the Plan with the U.S. Department of Labor.

You are entitled to obtain, upon written request to the Fund Office, documents governing the operation of the Plan, including insurance contracts if any and the collective bargaining agreements and copies of the latest annual report (Form 5500 series) and an updated Summary Plan Description.

Revised 12/2022