WHAT YOU NEED TO KNOW

The Massachusetts Laborers’ Annuity Fund (“the Fund”) is designed to provide income that supplements your pension and Social Security benefits in retirement.

Your employer makes regular contributions to your account based on your work hours (as required by the collective bargaining agreement). The contributions are invested on your behalf with the goal of growing your account over time. Your benefit, when you become eligible to receive it, will be the full value of your account balance, including any potential investment earnings.

For details about your benefit, review your Annuity Fund Summary Plan Description.

PARTICIPATION

As a Laborer, an account is established in your name on day one when you begin working for a contributing employer. After you work 100 hours in a calendar year, you become a vested participant in the Annuity Fund, and you’re entitled to all the money in your individual account.

Once you become a participant, you’ll need to name your beneficiaries. If you’re married, your spouse is automatically your beneficiary. When you apply for a distribution from the Annuity Fund, you can designate another beneficiary with your spouse’s consent. See the box below for more information about beneficiaries.