This summary presents the main features of the Annuity Fund. The rights and benefits of participants are determined not by this summary but by the formal legal instrument setting forth the Annuity Fund.
Required Minimum Distribution Age Change
As a result of the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”), the Fund’s age for Required Minimum Distributions changed on January 1, 2020 from 70½ to 72 years old.
Required Minimum Distributions (RMDs) are the legally required minimum amount a Participant must withdraw from their retirement account each year after reaching age 72. The required amount is established through actuarial tables.
The Required Minimum Distribution is issued on April 1st of the calendar year following the year in which the Participant reaches age 72.
For additional information regarding Required Minimum Distributions, please consult your Summary Plan Description or contact the Fund Office.
If you have specific questions about your benefits, or the content of this Summary of Material Modifications, please contact the Fund Office at (618) 998-1300. Keep this notice with your Summary Plan Description booklet for future reference.