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Pension - Schwab Retirement Plan Services

Schwab Retirement Plan Services, Inc. is the recordkeeper for the Employee Pension Plan and Trust for Local Union 52 of the United
Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada (the “Plan”).

Take full advantage of everything the Plan has to offer. Take some time to assess your retirement savings goals, carefully review your investment strategy, and take advantage of the various resources and tools available to you through Schwab Retirement Plan Services, Inc. You will be able to take advantage of various useful retirement plan features, including:
• The ability to access and transact in your account in a manner that is convenient to you: online, on the go with the
Schwab Workplace Retirement app,1 or by phone.
• The same menu of mutual funds and individual investments to select from when building your portfolio.
• Access to market performance tools, calculators, and resources to help you structure a retirement savings strategy that
may be appropriate for you.
• Helpful and friendly Participant Services Representatives with convenient hours.

Please contact Participant Services at 1-800-724-7526 or log on to workplace.schwab.com to:

• Reallocate your assets.
• Access retirement planning videos and market insights at workplace.schwab.com.
• Get professional help for your Plan account.
• Designate beneficiary(ies) for your Plan account.

Retirement plan advice.
If you’re like most people, you’re counting on your Plan account to support you during retirement—but you may not know how to create a portfolio or manage investments. Schwab Retirement Planner®2 does the work for you. You get access to ongoing professional management and the value of a personalized retirement savings and investment strategy with managed account and advice services provided by Morningstar Investment Management LLC. Schwab Retirement Planner calculates the income you’ll most likely need in retirement, recommends a savings target to help you get there, and manages your investments along the way.

Management of your account through Schwab Retirement Planner includes the following:
• An allocation of assets to a portfolio based on the funds in the Plan and your personal circumstances and goals.
• Diversification of your investments.
• Review of your investment mix every three months and adjustment, if needed, based on market performance or updates
to your situation, to help you stay on course with your strategy.
• Portfolio reassessment at least annually to account for being closer to retirement and to consider any additional changes
that you or your employer communicates.

There is a flat fee for the professional services provided by Schwab Retirement Planner. If you prefer a more hands-on approach, you have access to a point-in-time advice tool that can provide and implement a one-time savings rate and asset allocation recommendation based on your current situation. To access the point-in-time advice tool, log on to workplace.schwab.com and select the Advice tab once the transition is complete. Resources to help keep you connected.

workplace.schwab.com    Check balances, request investment information, choose investments, and more.

Call Participant Services.   1-800-724-7526
Representatives are available from 6 a.m. to 10 p.m. CT, Monday through Friday.

Schwab Workplace Retirement app  Manage your account on the go with the Schwab Workplace Retirement app. Check your account, monitor your personal performance, and securely access the full website.

Pension Vesting Rules for New Members

Local 52 Pension Plan

Vesting Rules for the Plumbers & Steamfitters Local Union 52 Pension Plan


For Participants who commence participation in the Plan on or after January 1, 2014, you must complete three (3) Years of Service with the Plan in order to have a 100% Vested Interest in your Participant Account. A Year of Service is a 12-consecutive month period (January-December) during which an Employee is credited with at least 1,000 Hours of Service.  However, the three (3) years required for vesting do not have to be worked consecutively, as long as you return to Covered Service (i.e. work for an Employer who contributes to this Plan on your behalf) and work sufficient Hours of Service to receive Years of Service before incurring (5) five One-Year Breaks in Service. If however, you incur five (5) One-Year Breaks in Service before reaching the (3) three Years of Service required for vesting, your Participant Account will be permanently forfeited to the Plan.

Vesting hours are calculated on December 31st of each year, based on the number of hours received during that calendar year (January 1st-December 31st).



            Effective August 4, 2020, a participant who becomes eligible for a disability benefit will be automatically vested in his or her Participant Account. The Plan previously only provided a disability benefit for Participants who were vested in their Participant Accounts.


            The Trustees have also adopted an amendment allowing Participants to choose not to receive required minimum distributions for the Plan Year 2020 if they notify the Plan in writing. This applies to both one-time payments as well as distributions that are part of a series of substantially equal payments. The required minimum distributions for Plan Year 2020 will also be considered eligible rollover distributions.


            For a complete copy of the Plan Document or the Amendments explained in this correspondence, please do not hesitate to contact the Plan Office.


Effective January 1, 2021, the pension contribution rate is $5.85 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 Charles Schwab Retirement Services.

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 $1.55 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

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.

After becoming a Vested Participant, 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.

The Plan is self-directed, so you determine how the contributions are invested and may 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. Please contact Participant Services at 1-800-724-7526 or log on to workplace.schwab.com to make changes.

When am I eliglbe to withdraw funds? Under the current Plan provisions, to qualify for withdrawal, you must meet one of the following options:(1) Normal retirement age 62; (2) Early retirement age 60; (3) Early-Out Provision - age 55 with 25 years of continuous service; (4) Disability - at any age upon receipt of Social Security Disability Award Letter.; (5)Terminated participants - one year after the termination date.

 For specific 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.


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