Changes Effective October 1st, 2007

Section 204(h) of the Employee Retirement Income Security Act of 1974 and ERISA regulation Section 2520.104b-3 require the Board of Trustees to notify you of changes to the Pension Plan.  These changes were adopted by the Board of Trustees on September 5, 2007, and are effective on October 1, 2007.  Please note, these changes will not affect the pension benefits you have earned prior to October 1, 2007.

Please keep this Notice with your current SPD for future reference.  If you have questions after reading this Notice, please contact the Fund Office. 

Normal Retirement Age

Previously, the Plan’s Normal Retirement Age was the later of age 65 or your age as of the fifth anniversary of participation in the Plan.

Effective October 1, 2007, the Plan’s Normal Retirement Age will be the later of age 62 or your age as of the fifth anniversary of participation in the Plan.

Year of Service - Increase in Hours of Service Needed To Earn A Year Of Service

Prior to October 1, 2007, you earned a Year of Service if you were credited with at least 250 Hours of Service in a Plan Year.

After October 1, 2007, you must be credited with at least 800 Hours of Service in a Plan Year to earn a qualifying Year of Service.

Early Retirement - Increase in Amount of Early Retirement Reduction Factor

The Early Retirement Benefit is offered to eligible Participants age 55 and over.

Previously, if you elected the Early Retirement Benefit your benefit was actuarially reduced by 5% for each year you were under age 65, unless you had an Hour of Service after October 1, 1998 and retired on or after October 1, 1999 your Early Retirement Benefit was actuarially reduced by 2% each year you were under age 65. 

For each Hour of Service earned prior to October 1, 2007, if you elect the Early Retirement Benefit on or after October 1, 2007, your benefit amount will be actuarially reduced by 2% for each year you were under age 62. 

For each Hour of Service earned after October 1, 2007 if you elect the Early Retirement Benefit on or after October 1, 2007 your benefit amount will be actuarially reduced by 5% for each year you are under age 62.    

Disability Benefit - Now Reduced for Disability Prior to Age 62

If you apply for and are granted a Permanent and Total Disability Benefit on or after October 1, 2007, your benefit will be a monthly benefit equal to the greater of $73.50 or your Accrued Benefit, reduced by 1.5% for each year you are under age 62.

30 and Out Early Retirement Benefit - Change in Age and Service Requirements
For each Hour of Service prior to October 1, 2007, you can retire with an unreduced Early Retirement Benefit if you are at least age 55 and credited with at least 30 Years of Service and earned 250 Hours of Service in 28 of those 30 Plan Years and earned at least one Hour of Service in two of those 30 Plan Years.  If you had an Hour of Service on or after October 1, 1998 and first retired under the Plan on or after October 1, 1999, you did not need to be age 55.

For each Hour of Service after October 1, 2007, you can retire with an unreduced Early Retirement Benefit if you are at least age 55 and credited with at least 29 qualifying Years of Service.  For participants with at least one year of service prior to October 1, 2007, if you have earned at least 29 qualifying Years of Service and are under age 55, you can retire with a benefit actuarially reduced by 5% each year you are under age 55 for those benefits you earned after October 1, 2007.  Plan participants earning their first year of service after October 1, 2007 will not have the option to retire prior to age 55 using the 29-and-out benefit.

Beginning October 1, 2007, you will no longer be able to earn a Year of Service towards the 29-and-Out benefit where you work less than 800 hours.  NOTE: All qualifying years you earned as of September 30, 2007 are credited towards the 29-year requirement, including up to two years with as little as one Hour of Service.  

Benefit Multiplier - Reduction in Multiplier & Full Crediting of Contributions

For each Hour of Service earned prior to October 1, 2007, the benefit formula used to determine your monthly normal retirement benefit for Credited Employer Contributions required to be made to the Fund on your behalf after October 1, 2003 was 2%.  Under this 2% formula, Employer Contributions of up to $4.45/hr made on or after October 1, 2003, were used in the calculation of your pension benefit.  These contributions were called ‘Credited Employer Contributions’.  Any Employer Contributions in excess of $4.45/hr were used to help pay for benefits that have been earned under this Plan in the past and were called ‘Funding Contributions.’

For each Hour of Service earned after October 1, 2007, all Employer Contributions are fully “Credited”, meaning there are no longer any uncredited or ‘Funding Contributions’. However, the benefit formula used to determine your monthly normal retirement benefit
for Employer Contributions required to be made to the Fund on your behalf after October 1, 2007 is 1%. 
EXAMPLE:  The following chart shows how this change will affect future benefit accruals. The example assumes you work 1,200 Hours in a Plan Year.  Before the change, the monthly benefit you earned was 2% of Credited Employer Contributions ($4.45/hr out of total Employer Contributions of $6.15/hr.)  After the change, your future service credits will earn a monthly benefit of 1% of total Employer Contributions (currently $6.15/hr). 

	Benefit before Change	Benefit after Change
Benefits earned prior to October 1, 2007	$2,000.00	$2,000.00
Benefit earned - 10/1/07 - 9/30/08	$106.80 (1,200 hrs x $4.45 x.02)	$73.80 (1,200 hrs x $6.15 x.01)
Benefit earned each year after 10/01/07	$106.80	$73.80

As previously stated, these changes will not affect the pension benefits you have earned prior to October 1, 2007.

No Change for Retired Participants and Deferred Vested Participants

Participants who retired or terminated while vested under the Plan prior to October 1, 2007 and do not return to work under the Plan on or after October 1, 2007 will not be affected by these Plan changes.

Retired and Deferred Vested Participants Returning to Work

Retired and deferred vested participants who return to work on or after October 1, 2007, will have any future service benefits earned during the period of reemployment determined under these revised rules.  Any questions regarding benefits to be earned during a period of reemployment should be directed to the Fund Office.

One-Time Application to Receive Pension Benefits

A participant will continue to make a single application to receive his eligible pension benefit.  Your entire pension benefit becomes payable at the same time.

If you have any questions, please contact the Fund office at 816-756-3313 or toll-free at 1-866-756-3313.

Sincerely,

Board of Trustees

September 14, 2007