FAQ's

11. WHAT INFORMATION SHOULD I CHECK ON MY STATEMENT?

When you receive a Statement from the Qualified Savings Plan, you should check the following:

·        Make sure your address is current and correct.

·        Compare the reported hours to your records (check stubs, time book, etc.) to be sure they have been correctly reported to your account.

·        Review any enclosed information about changes to the Plan.

·        Review the beneficiary information shown on your Statement.  If you need to add or change your Beneficiary, or if your statement includes a message concerning your beneficiary information, contact the Fund office right away to request a Beneficiary Designation form to ensure that your beneficiary designation on file is valid.   See How Do I Change My Beneficiary?  and  When Should I Complete a New Beneficiary Form?. 

·        PLEASE NOTE: If your marital status has changed since your last Beneficiary Designation, your Beneficiary as shown on your statement may be invalid. Any change in your marital status (marriage or divorce) will void the designation on file.

·        Beginning in Fall 2022, your Qualified Savings Plan Annual Statement will be required to provide you with information about how your current individual account balance would convert to a monthly income amount at retirement. Please note: The Qualified Savings Plan does not offer an option for monthly benefit payments. This is for illustrative purposes only as required by government regulations. The estimated monthly monthly payments shown on your statement are not a guarantee and are based upon various assumptions set by government regulations and outlined on this statement. Again, this is for illustrative purposes only. The Qualified Savings Plan has not changed its benefit options. See What Are My Payment Options When I Become Eligible? for more information about benefit distributions from your Qualified Savings account.