You may choose to make a withdrawal from your account ONLY under one of the following rules. Be aware of the tax consequences and the rules regarding returning to work after you retire, as the may factor into the timing for your withdrawal.

Eligibility

Attainment of age 65 and termination of employment in the electrical industry within the jurisdiction of IBEW Local 6.

Attainment of age 55, no contributions to your account in the last 18 months, and no employment in any capacity within the electrical industry anywhere in the United States.

Any time after age 55, provided that you have retired under the local Pension Plan.

Regardless of age, if the balance of your Individual Account is under $5,000 and you meet all the following requirements:

• You had no contributions paid or payable to your Individual Account in the preceding 18 months, and
• You have not been employed in the Electrical Industry in the United States in any capacity in the 18 months preceding any application for withdrawal of your Individual Account, and
• You submit a statement that you do not intend to return to employment in the Electrical Industry in the United States.

If you withdraw your benefits before age 55 you will be subject to tax penalties in addition to ordinary income tax unless you are disabled, you are receiving equal monthly payments based on your life expectancy, or you rollover the distribution to another qualified plan or an IRA account.

According to law, you must begin receiving distributions from your account no later than April 1 of the year following the year you attain age 70 1/2. If you do not file a withdrawal application by that time, the plan will begin making mandatory distributions to you.

Generally, if you die before beginning withdrawals from the plan, your spouse will be offered a preretirement survivor benefit or the option of a lump sum withdrawal of your entire balance. If you are not married, your beneficiary will receive a lump sum distribution of your balance. If no beneficiary can be located within three years of your death, your death benefits are forfeited.

Divorce (and marriage) invalidates any previously filed designation of beneficiary. This is because under law, a spouse has certain rights with regard to any pension benefits you have. In the case of divorce, your former spouse may obtain a portion of your benefit. If a divorce settlement calls for any portion of your Retirement Savings Plan balance to go to your former spouse, this must be formalized by a court order called a Qualified Domestic Relation Order (QDRO). If a divorce action is in progress, this may delay your receipt of any withdrawal from the plan.