Annuity Fund

Eligibility and Enrollment

You’re eligible to participate in the Annuity Fund if your employer is required by a collective bargaining agreement or another written agreement to contribute to the Annuity Fund.

You automatically become an Annuity Fund participant on your first day of work for a contributing employer. Your participation ends when you no longer have money in your individual annuity account as of the last day of the plan year (December 31).

Vesting

You’re always fully vested in the entire amount of your individual annuity account. This means that you have a nonforfeitable right to the contributions and investment earnings allocated to your account even if your employment ends before you’re eligible to retire.

Making Changes

If you need to change your address or beneficiary, you must provide supporting documents to the Fund Office as soon as possible.

Your Account Balance

Funds contributed to your account are invested at Empower, our Annuity Fund custodian. You are able to view your account balance, monitor the Fund’s performance, and make changes to your investments whenever you choose. To view your account and make changes, log in at empowermyretirement.com. Registration is required.

Contributions

Employer Contributions

If the collective bargaining agreement with your employer requires it, your contributing employer will make contributions to the Annuity Fund on your behalf based on the terms of your collective bargaining agreement or other written agreement.

These contributions are subject to the 401(a)(17) annual compensation limit and the 415(c) annual addition to Plan Account limit.

For more information, review this memo from the Fund Office about contribution limits.

Salary-Deferral Contributions

In addition to contributions from your employer, some CBAs allow for you to supplement the employer contributions with your own before-tax contributions, which are made through payroll deductions. If you are unsure if your employer allows for salary deferrals or if you would like to begin payroll deductions, please reach out to your employer for the appropriate paperwork.

You can contribute up to the IRS limit, which in 2026 is $24,500 per calendar year.

If you’re age 50 or older (by the end of a plan year), you’re eligible to make “catch‐up contributions.” The maximum amount for catch-up contributions for the 2026 calendar year is $8,000.

If you’re age 60, 61, 62, or 63 (by the end of a plan year), the catch-up contribution limit is increased to the greater of $11,250 (adjusted for inflation) or 150% of the regular catch-up limit.

Please note that the recent IRS rule regarding catch-up contributions for high earners to be contributed as Roth contributions does not apply to this Fund because it is a multiemployer fund. That rule will come into effect in a future year based on our latest CBA dates. The Fund does not accept Roth contributions.

At any time, you can increase, decrease, or stop your salary-deferral contributions. Please speak with your employer to make changes.

An Important Word About Contribution Limits

Before making decisions about your retirement contributions, please review this memo. This explains the IRS limits for 2026 that affect how much you can contribute to your Annuity Fund and 401(k) accounts. These rules can be complicated, with different limits based on your age, employer, and type of contribution. Reviewing the memo can help you avoid confusion, prevent costly mistakes like excess contributions, and make sure you’re maximizing your retirement savings within the legal limits. If you still have questions about your maximum contribution, speak with your financial advisor.

Rollover Funds

At any time, you can roll over funds from another employer-sponsored, qualified retirement plan. Please reach out to Empower for the appropriate form.

Distributions

You’re entitled to a distribution of all or a portion of your individual account balance when one of these events occurs:

• Normal retirement (at or after age 60)
• Early retirement (at or after age 55 while receiving a 30-year service pension under the associated Pension Plan of Local No. One IATSE)
• Reaching age 59½ if you’ve been a participant in the annuity fund for at least two consecutive years and you want to withdraw only your employer’s contributions made on or after 11/1/2002 to the extent permitted
• Reaching age 60 if you’ve been a participant in the annuity fund for at least two consecutive years and you want to withdraw your accumulated share to the extent permitted
• Reaching age 73
• Termination of employment for at least 12 consecutive months
• Temporary or total/permanent disability
• Becoming a primary caregiver for a period of 45 or more days
• Qualifying for a hardship distribution (e.g., tax delinquency, prevention of eviction or foreclosure, educational expenses, burial or funeral expenses, disaster-related expenses)
• Birth or qualified adoption, $5,000 per child

Loans

You can borrow money from your annuity account for any purpose and pay yourself back through deductions from your bank account. The maximum total loan amount is $50,000, or 50% of your individual account, whichever is less. The minimum loan amount is $1,000.

You are allowed up to three (3) loans. However, you can take a third loan only if you have not defaulted on either of the previous two loans.

You can request a loan through the Empower website or by calling 1-833-569-2433.

Applying for Benefits

When you become eligible to receive your benefits, you must file the applicable distribution form with the Fund Office. You may also be required to furnish additional information necessary to process your benefits. Payments will start as soon as possible following the receipt and processing of your completed application.

Required Minimum Distribution (RMD)

You’ll be required to start receiving funds from your account once you reach your required distribution date. You’ll continue to receive participant statements and share in the net income, gain, or loss on the annuity’s assets until your account is distributed.

Once you have reached the applicable age to start receiving required minimum distributions from your annuity account, you will begin to receive annual letters from Empower detailing your required amount in that year.

Please complete the RMD application form with Empower to begin distributions. If you would like, you can elect to receive annual installments for the RMD in the future, and you will only need to complete the Empower form one time.