The Annuity Fund is provided to supplement our member's Pension Plans with a particpant directed Annuity Fund and is subject to all IRS regulations. This gives members the flexibility to grow their money as they see fit.
Apprentices in their third (3rd) year or higher, all Classified workers and all Journeymen receive funds into a self-directed annuity account. Currently the contribution rate is $3.60 per hour paid for Apprentices and Journeymen and $0.50 per hour paid for all Classified workers.
Currently our Annuity Fund is managed by Principal Financial (www.principal.com). Participants should sign-up on their website to access their account. Once logged into their website participants can update their beneficiary, change investment allocations, view statement and history, get information on different funds, and track loans and returns.