Home Pension
Pension

Plumbers & Steamfitters Local Union 52 Defined Contribution Pension Plan

Effective January 1, 2017, the pension contribution rate is $5.25 per hour.

Please review the Questions & Answers and Enrollment documents listed to the right for additional information.

You may access your account (make investment changes, check your balance, print statements) by contacting NewPort Group at 1-800-217-2440 or www.newportgroup.com (click on participant tab).

Local 52 Pension Plan Office
PO Box 211105
Montgomery, AL 36121-1105
334-272-0240 ext. 5
Contact: Kay Pinckard

For information related to the National Pension Fund, please contact the fund office at 1-800-638-7442. The current national pension fund rate is $1.45 per hour.

The Million Dollar Question: How Do I Invest My Retirement Savings?

Trying to choose the investment options that are right for you may seem difficult. That’s why the Plan has retained the services of a registered investment consultant to assist you in making crucial investment decisions.

Please contact Greg Fiore at 1-404-477-0593, for assistance with investment and retirement options.

Pension Enrollment Information

Enrollment Information

A defined contribution pension plan is a valuable benefit program. By offering this plan, Local 52 is making a commitment to help you plan for your future.

Here’s how it works: An account is established in your name, exclusively for your benefit. Employers then make contributions to the Plan on your behalf. As a Vested Participant of the Plan, you will have 100% interest in your account.   Please contact the Fund Office for vesting information.

It’s flexible, to meet your needs. You determine how the contributions are invested and you can change your investment choices any business day.

There are big tax advantages. Unlike interest earnings on a regular savings account, which are taxed annually, your investment earnings continue to grow without an annual tax bite until you withdraw your money. This is called tax-deferred compounding and over time, it can make a big difference in the amount of money you accumulate for retirement. So you can consider the contributions made to your account as a tax-deferred bonus.

The Million Dollar Question: How Do I Invest My Retirement Savings? Trying to choose the investment options that are right for you may seem difficult. That’s why the Plan has retained the services of a registered investment consultant to assist you in making crucial investment decisions. You may contact Greg Fiore at 1-404-477-0593, for assistance with investment and retirement options.

What happens if I do not submit investment selections? If you do not provide investment selections, any contributions made to your account will automatically be invested into a default account selected by the Plan Trustees. This is typically the most conservative investment option in the Plan, like a money market mutual fund, stable value investment option or an age based investment. Please contact the Plan Consultant for more information about the plan’s default option.

How can I change the investment elections for my account? You are permitted to change the asset allocation of your existing account balances and/or the investment election for future contributions at anytime. If you wish to change both the asset allocation for your existing account balance and change the investment directions for future contributions, separate requests must be submitted. Here’s how:

1. Call NewPort Group’s interactive voice response service at 1-800-217-2240 and enter your changes over the telephone. This service is available 24 hours a day, 7 days a week.

2. Enter your changes via NewPort Group’s secured internet website:
www.newportgroup.com and click on the participant access tab. This service is available 24 hours a day, 7 days a week. You must register. Your user name is your social security number, without any slashes, dashes or spaces (ex: 123456789). Your password will be the first four characters of your last name, using the shift key instead of caps lock to capitalize all letters, immediately followed by your entire social security number (ex: SMIT123456789). Follow the directions. You will have limited access upon registering. A new password and confirmation will be sent to you by mail.

3. Submit your changes to a Participant Services Representative. Please dial 1-800-217-2240. Participant Service Representatives are available from 7:00 am to 7:00 pm CST, Monday-Friday.

How can I get information about the Funds in the Plan? You can obtain fund profiles and prospectuses via the NewPort Group website or by contacting customer service.

Contact Information:
Web: www.newportgroup.com
Phone: 1-800-217-2240


For other questions related to the Plan, please see the Summary Plan Description or call 334-272-0240.

The Plan is intended to be an ERISA Section 404(c) plan. This simply means that you “exercise control” over some or all of the investments in your Plan account. The fiduciaries of the Plan may be relieved of liability, or responsibility, for any losses that you may experience as a direct result of your investment decisions.


 


  • UNION MEETING
    October 14, 2017 (All Day)
    (Default) (General)

    UNION MEETING AT 9:00 AM

  • UNION MEETING
    November 11, 2017 (All Day)
    (Default) (General)

    UNION MEETING AT 9:00 AM

  • UNION MEETING
    December 09, 2017 (All Day)
    (Default) (General)

    UNION MEETING AT 9:00 AM

  • UNION MEETING
    January 13, 2018 (All Day)
    (Default) (General)

    UNION MEETING AT 9:00 AM

  • UNION MEETING
    February 10, 2018 (All Day)
    (Default) (General)

    UNION MEETING AT 9:00 AM

View full calendar

Who's Online

We have 63 guests online