NEBF Retirement

•This is a brief summary , a full expliantion is aviable to you at your local union hall.

>Effective January 1, 1998 , the eligibility requirements for unreduced early retirement benefit atage
62 will be enhanced. The five year employment period for an unreduced early retirement pension
benefit will be changed to seven years. In addition, certain NEBF participants who would be eligible
for an unreduced pension benefit at age 62 will be able to choose between receiving the unreduced
benefit at age 62 or a reduced pension benefit at age 60 or 61.

>The NEBF summary plan description was last revised January 1, 2000. It does not reflect amendments
to the plan of benefits adopted thereafter, namely, the increased in benefits.

Effective July 1, 2001 , the normal and early retirement benefit was increased from $31.00 to $32.00
per year of credited service. Disability benefits are now computed at the $32.00 rate with a minimum
befefit of $640.00 per month.

Current Normal Retirement Rates:

Prior to July 1, 1977 $8.03
July 1,1977 thru Dec 31,1980 $12.09
Jan 1,1981 thru Dec 31,1982 $13.42
Jan 1, 1983 thru Dec 31,1984 $15.28
Jan 1,1985 thru Feb 28,1986 $15.99
Mar 1,1986 thru Dec 31,1986 $17.98
Jan 1,1987 thru Dec 31,1988 $18.63
Jan 1,1989 thru Dec 31,1989 $19.19
Jan 1,1990 thru Dec 31,1990 $19.68
Jan 1,1991 thru Dec 31,1991 $21.29
Jan 1,1992 thru Dec 31,1992 $21.82
Jan 1,1993 thru Dec 31,1993 $22.96
Jan 1,1994 thru Nov 30,1995 $23.64
Dec 31,1995 thru Dec 31,1996 $25.13
Jan 1,1997 thru Dec 31,1997 $26.22
Jan1,1998 thru Dec 31,1998 $27.59
Jan 1,1999 thru Dec 31,1999 $29.13
Jan 1,2000 thru Dec 31,2000 $30.60
Jan 1,2001 thru Jun 31,2001 $31.00
July 1,2001 thru foward $32.00

This retirement is fully funded by your contractor at no cost to you. The amount at this
time is 3% of your gross pay.