Important Information About Your Plan
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Plan Facts
Legal Name of the PlanElectrical Workers Local No. 26 Individual Account Plan
Plan Number001
Board Of Trustees Employer Identification Number (EIN)52-1250801
Plan TypeDefined contribution, profit-sharing plan. The Plan is also an ERISA Section 404(c) plan providing for participant-directed investments
Plan YearJanuary 1 – December 31
Plan Administrator/Plan SponsorBoard of Trustees
Electrical Workers Local No. 26 Individual Account Plan
10003 Derekwood Lane, Suite 130
Lanham, MD 20706-4811
Fund AdministratorMichael McCarron Electrical Workers Local No. 26 Individual Account Plan
10003 Derekwood Lane, Suite 130
Lanham, MD 20706-4811
Fund Office10003 Derekwood Lane, Suite 130
Lanham, MD 20706-4811
Agent for Service of Legal ProcessBoard of Trustees
Electrical Workers Local No. 26 Individual Account
10003 Derekwood Lane, Suite 130 Plan
Lanham, MD 20706-4811

Plan Administration

The Plan is administered by a Board of Trustees made up of six Trustees, three appointed by IBEW Local No. 26 and three appointed by the Washington, DC Chapter of the National Electrical Contractors Association in accordance with the Fund’s Agreement and Declaration of Trust (Trust Agreement). The day-to-day administration of the Plan is performed by the Fund Office and Fund Administrator listed above.

Amendment Provisions

The Trustees have the authority to amend the Plan in accordance with the Trust Agreement. The Trustees are required to make amendments necessary to maintain the tax-qualified status of the Plan.

Interpretation of the Plan

The Board of Trustees has the full discretionary authority to interpret the terms of the Plan and the Trust Agreement and to decide all questions pertaining to the operation and administration of the Plan and the Trust Agreement. Its interpretations and decisions are final and binding on all applicable parties.

Contribution Source

his Plan was established through collective bargaining. All contributions to the Plan are made by employers in accordance with their collective bargaining agreements with the Union or their participation agreements with the Board of Trustees.

A copy of any collective bargaining agreement pursuant to which the Plan is maintained may be obtained from the Fund Office upon written request. A charge may be made to cover the cost of providing the requested documents. The Fund Office will also provide you, upon written request, information about whether a particular employer is contributing to this Plan on behalf of employees working under a collective bargaining agreement. The list of contributing employers and copies of the collective bargaining agreements also are available for inspection at the Fund Office and the Union’s office.

Tax-Qualified Plan

The Fund has been qualified by the Internal Revenue Service, which means that the Plan has met the requirements of the Internal Revenue Code and therefore may receive tax advantages.

Funding Medium

Benefits are provided from the Fund’s assets, which are accumulated under the provisions of collective bargaining agreements and the Trust Agreement and are held in trust solely for the purpose of providing benefits to covered participants and their beneficiaries and defraying administrative expenses.

Plan Termination

It is intended that this Plan will continue indefinitely; however, if there is no longer in force and effect a collective bargaining agreement requiring contributions to the Fund, the Trustees have the authority to terminate the Plan when and how they deem advisable. However, termination of the Plan must be agreed upon by all Trustees in writing and be consistent with the requirements of ERISA and other applicable law.

If the Fund is terminated, the Trustees will:

  • pay the expenses of the Fund incurred up to the date of termination as well as the expenses in connection with the termination;
  • arrange for a final audit of the Fund;
  • give any notice and prepare and file any reports that may be required by law; and
  • apply the assets of the Fund in accordance with the Plan, including amendments adopted as part of the termination until the assets of the Fund are distributed.
    No part of the assets or income of the Fund will be used for purposes other than for the exclusive benefit of the participants and beneficiaries of the Fund or for the administrative expenses of the Fund. Under no circumstances will any portion of the Fund revert or inure to the benefit of any contributing employer, the Washington, D.C. Chapter of the National Electrical Contractors Association or any other association or group of employers, or the Union either directly or indirectly.

Upon termination of the Fund, the Trustees will promptly notify the Union, the Washington, D.C. Chapter of the National Electrical Contractors Association, the contributing employers and all other interested parties. The Trustees will continue as Trustees for the purpose of winding down the affairs of the Fund.

If the Fund is terminated, any assets remaining after payment of any approved Accumulated Shares and after payment of the administrative expenses of the Fund shall be distributed among the participants. Each participant will receive that part of the total remaining assets in the same ratio as his or her Accumulated Share bears to the aggregate amount of the Accumulated Shares of all participants.

A reasonable effort will be made to contact every Participant. Those who cannot be located, or those for whom no claim is made for payment of their Accumulated Share within 90 days following the sending of notice by registered mail to their last known address, will have their Accumulated Share placed in a federally insured savings account. The names of those individuals for whom an account is established will be available for reference with the Union. An attempt will also be made to contact any designated beneficiary in an attempt to locate a Participant.

PBGC Insurance Does Not Apply

Although the Pension Benefit Guaranty Corporation (PBGC), a U.S. government corporation insures some pension plans, it does not provide insurance for this Plan because it is a defined contribution plan.

Non-Assignment of Benefits

Your retirement benefits are intended for your personal financial security. They cannot be sold, borrowed against, garnished or attached in any way and generally cannot be assigned to another party except as permitted by law. For example, the Plan is required by law to honor a Qualified Domestic Relations Order (QDRO) that assigns a portion of a participant’s pension benefit to an alternate payee. The Plan must also comply with any offset or deduction permitted under applicable law.

Limits on Contributions

Under federal law, there are limits on the annual contributions that can be made to the Plan on your behalf. You will be notified if these limits affect your benefit.

Normal Retirement Age

For purposes of this Plan, Normal Retirement Age is age 65.


Loans against the value of your Individual Account are not available under the Plan.