Pacific Coast Benefits Plan

Pacific Coast Benefits Plan

SUMMARY PLAN DESCRIPTION

NAME OF PLAN
The Plan is known as the Pacific Coast Benefits Plan.

TYPE OF PLAN
The Plan is a defined contribution, money purchase plan which provides three types of benefits: A retirement benefit, a death benefit and an employment termination benefit. The assets of the Plan are held in the Pacific Coast Benefits Trust.

PARTICIPATION
You will become a participant in the Plan when the Trust receives the first employer contribution on your behalf. At such time, an individual account will be established for you. All employer contributions on your behalf and all earnings and any other monies allocated to you will be credited to that account.

CONTRIBUTIONS
Contributions may be made to the Trust on your behalf only by an employer that is required to make such contributions under a collective bargaining agreement or participation agreement with the Trust. Contributions may not be made on behalf of persons who are owners of, or partners in, an unincorporated business or on behalf of any other person who is not an 'employee,' as that term is defined under the common law. If you have any questions as to your status as an employee, please contact the Trust Office.
With the exception of rollover contributions described below, you may not make contributions on your own behalf. This does not preclude contributions made by an incorporated business on behalf of an owner-employee pursuant to the terms of a collective bargaining agreement.

ROLLOVER CONTRIBUTIONS
The Plan, in its sole discretion, may accept an eligible rollover distribution from another tax qualified plan in which you have participated. To qualify to make a rollover to the Plan, the following conditions must be met at the time of the rollover:

(1) Your employer must currently have an obligation to contribute to the Plan on your behalf, and
(2) The Plan must determine the distribution to be an eligible rollover distribution as defined by the Internal Revenue Code.

The Plan may require you to make reasonable application prior to its accepting an eligible rollover distribution and may also require satisfactory proof that a distribution is an eligible rollover distribution.
Once an eligible rollover distribution is accepted and deposited to your account with the Plan, distribution from the Plan is subject to the same eligibility requirements of the Plan for any distribution.

SERVICE REQUIREMENTS
There are no service requirements beyond those necessary to become a participant. When an employer is obligated to make its first contribution depends upon the terms of the applicable collective bargaining agreement or participation agreement. Contributions must commence, however, not later than the first hour of service after the end of your second year of service with an employer that is obligated to make contributions to the Trust. A year of service is a 12 consecutive month period in which you have at least 1,000 hours of service with the employer. "Hour of service" is defined in the Plan documents.

VESTING
Vesting means a participant has earned the right to a benefit, even though he or she may not be able to receive it until some later time. Under the Plan a participant shall be immediately vested in all monies properly allocated to his or her individual account.

ALLOCATIONS TO INDIVIDUAL ACCOUNT
All employer contributions properly paid to the Trust by an employer on behalf of a participant are credited immediately to that participants individual account. Individual accounts will receive a pro-rata allocation of list net earnings, which will be based on their dollar balances. Therefore, individual accounts with larger balances receive a proportionately larger share of net earnings or other allocations than accounts with smaller balances. It is possible to incur negative earnings, that is a loss, during any period of time, although the Plan's investment objectives are designed to minimize the possibility of such a result.

PLAN BENEFITS
The Plan provides three types of Benefits: A Retirement Benefit, a Termination Benefit, and a Death Benefit. A participant or his beneficiary must apply in writing for benefits.

RETIREMENT AND TERMINATION BENEFITS

Eligibility

Retirement Benefit. A participant who has reached the normal retirement date under the Plan, which is The first day of the month following a participant's 55th birthday, and who is no longer employed by any employer contributing to the Plan is eligible to receive a Retirement Benefit.

Termination Benefit A participant (i) who has not reached 55 years of age, (ii) whose employment with the employer that was most recently obligated to make employer contributions on his or her behalf has terminated and (iii) who, in the two months following termination, has not returned to employment with that employer in any capacity or with any other employer that is obligated to make employer contributions on his or her behalf is eligible to receive a Termination Benefit.

In addition, a participant (i) who has not reached 55 years of age, (ii) whose last contributing employer ceases to have an obligation to make employer contributions, and is subsequently sold to an unrelated entity in a stock or asset sale, and (iii) who is not working for an employer obligated to contribute to the Trust on his or her behalf (even if he or she is working for the purchasing entity), is eligible to receive a Termination Benefit

Forms of Payment

A Single Participant Receives a Life Annuity, Unless He or She Elects an Alternate Form of Payment.

A Married Participant and the Participants Spouse Receive a Joint and Survivor Annuity, Unless He or She Elects an Alternate Form of Payment with the Consent of His or Her Spouse.

MANDATORY PAYMENTS AFTER AGE SEVENTY AND ONE-HALF
If a participant reaches age seventy and one-half, payment of benefits will start no later than April 1 of the next calendar year, even if the participant is still employed by an employer contributing to the Plan.

PRE-RETIREMENT DEATH BENEFIT

Eligibility

A participant's beneficiary receives a Death Benefit if the participant dies before payment of a Retirement or Termination Benefit would start.

If the Participant is Unmarried, the Beneficiary Receives a Lump-Sum Death Benefit.

If the Participant is Married, the Spouse Receives a Spousal SurvivorAnnuity.

PACIFIC COAST BENEFITS TRUST CONTACT INFORMATION:

Claim and Estimate Inquiries:
(206) 726-3266

Benefit Application Request:
(206) 726-3266

Benefit Application Filings Should be sent to:

Board of Trustees of the Pacific Coast Benefits Trust
Northwest Administrators, Inc.
2323 Eastlake Ave. E.
Seattle, WA 98102
(206) 329-4900

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