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Annuity FAQ

Q. Who makes contributions?

A. Under the terms of the collective bargaining agreement between the Union and the employers, and the Annuity Plan itself, the employers make contributions to the Annuity Fund on your behalf. The amount of contribution is specified in the collective bargaining agreement and can change from time to time.

Q. Who is in the Annuity Plan?

A. Individuals who are working as an Operating Engineer under a collective bargaining agreement between their employer and the Union participate in the Annuity Plan through contributions made on their behalf by their contributing employer.

Q. What investment options have the Trustees selected?

A. After careful consideration, the Trustees have chosen a variety of investments to suit individual needs. There are options available for conservative, moderate or aggressive portfolios. Additional information can be obtained by calling Empower’s Interactive Voice Response service 1-833-569-2433 or through Empower’s web site:

Q. When can I take advantage of some of the investment options?

A. Before you can use the Empower retirement tools, which are available 24 hours a day, 7 days a week, you will need to register your account and create a new Personal Identification Number (PIN). Register online at Just click “First Time Logging In?” and enter your Social Security number as your account number. You can also register by calling 1-833-569-2433. If you call to register you will be asked to enter your account number, which is your Social Security number. Then simply follow the prompts to establish your PIN.

Q. How may I invest my contributions?

A. You can choose how you want to invest both your current account balance and future contributions by selecting from any of the investment options offered in the Plan. You may put all of your money into one account, or you can choose to have a stated percentage of your contributions placed into each of several investments funds, in multiples of 1%.

You need to be sure to tell Empower how you want your contributions invested. If you do not direct the investment of your account, all contributions will be invested into your age corresponding Retirement Goal fund, until you direct a change.

Q. Will I receive statements of my account?

A. Shortly after the close of each calendar quarter, you will receive a financial statement from Empower which will show your account balance, current investment elections, contributions and investment earnings (or losses) allocated to your account during the quarter, and the investment performance for each of the funds available in the Plan.

Q. May I make a withdrawal from my account?

A. You may apply for up to 2 in-service withdrawals per year with the total maximum sum being 50% of your January 1st Account balance. If you are married at the time of such withdrawal, your spouse must sign a form provided by Prudential attesting that the withdrawal may reduce or entirely eliminate the amount to which you may someday be entitled to receive from the Annuity Plan. Your spouse’s signature must be witnessed by a Notary Public in order for the request to be considered.

If you are under age 59 1/2, the following provisions apply to in-service withdrawals:

  • If you have had an Account for at least four years or more, you may withdraw up to 50% of your account balance contributions and any earnings on such contributions.
  • If you have had an account for less than four years, you may withdraw the lesser of:
  • Your account balance and earnings on such contributions, minus Employer contributions made to your account during the last two years, or
  • 50% of your Account Balance and earnings on such contributions.

Any time after attaining age 59 1/2, a participant may apply for a withdrawal of all or a portion of his Account.  Such withdrawal shall be subject to the following conditions:

A Member may make only one age 59 1/2 withdrawal in any 12-month period.

A Hardship Withdrawal is available for the amount necessary to satisfy your particular hardship need, up to 100% of the employer contributions in your Account. Applications for hardship withdrawals are subject to the approval of the Trustees, for the following circumstance: 

  • purchase (excluding mortgage payments) of your principal residence (once every 5 years)

Please note: all withdrawals are subject to the Internal Revenue Code and IRS regulations regarding distributions, income and excise taxes.

Q. When am I eligible to receive benefits or payments from my account?

A. In order to begin collecting benefits from the Plan, you need to submit a written application. When you are ready to apply, you may call Prudential Financial and applications will be forwarded to your home.

You are eligible to apply for benefits from the Plan under any of the following conditions:

  • Retirement
  • Disability – payable if you become totally and permanently disabled and have been awarded a Social Security Disability Pension
  • Termination – when no employer contributions have been made for eighteen (18) consecutive months and you leave the industry permanently
  • Death – payable to your spouse or beneficiary upon your death

Q. What happens to my money upon my death?

A. If you die before you begin to receive payment of your account, the accumulated balance in your account will pass to your designated beneficiary(ies).

Q. How can I change my beneficiary designation?

A. If you wish to change your beneficiary designation, you need to fill out a new beneficiary form which is located under the tab Forms.


  • The Trustees approved a SUB increase to $250 per week for December 2023 through March 2024
  • Health Center Grand Opening Mailer 2023
  • Please take note regarding the SUB fund:  You must apply for benefits within 90 days of the Saturday of the week you are first unemployed and eligible for benefits.  Subsequent claims must be made within 90 days of the week -ending for which benefits are payable.
  • The Welfare Fund has been covering CDL Physicals since the start of 2018.  Click here for the requirements for reimbursement.
  • Motor Vehicle Accidents are Not covered by the Welfare Fund.  (Please talk to your insurance agent about increasing your medical coverage.)
  • Non-spousal Dependent Maternity is not covered.
  • Let us know when you: get Married or Divorced, have a child, or move.
  • When retired, our Health & Welfare plan (if eligible) requires you and/or your spouse to have Medicare A & B when eligible.