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December 27, 2016 | Print | Site Map | Help
 

Annuity Plan

 
Termination of Account

Termination of Participation

A Participant who receives payment of his Accumulated Share or has an annuity purchased for him shall cease to be a Participant as of the date on which the Accumulated Share is paid to him or an annuity is purchased for him in accordance with the provisions of Article 4. A Participant shall also cease to be a Participant when there is no payment to be made to him because there is no balance remaining in his Individual Account after the assessment of the administrative charge.

Termination of Account

An Individual Account shall be considered terminated:

  1. on a Valuation Date if the amount in the Individual Account is zero or less; or,
  2. on the date in which payment of the Accumulated Share is made in full.

Plan Termination

In the event of termination or partial termination of the Plan, the assets then remaining, after providing for the expenses of the Plan and for the payment of any Accumulated Share theretofore approved, shall be distributed among the Participants. Each Participant shall receive that part of the total remaining assets in the same ratio as his Accumulated Share bears to the aggregate amount of the Accumulated Share of all Participants. No part of the assets shall be returned to any Employer or inure to the benefit of any Employer, the Association, a Local Union, or District Council.

References to specific section(s) of the Plan can be found in the Official Plan Document under Plan Documents on this website.

Contact Plan Administrator

Telephone NumberPhone:
(866) 894-3705

ContactEmail:
paintersinfo@hsba.com

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Health Services & Benefit Administrators, Inc. (HS&BA)
4160 Dublin Boulevard, Suite 400
Dublin, CA 94568-7756

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