LOCAL UNION #50 PENSION PLAN

$3.25 per hour employer contribution

A.     Tax sheltered

B.     Professional investment

C.    5 year vesting

D.    Early retirement with vesting

E.     Disability benefits (monthly)

F.     Insured under Pension Benefit Guarantee Corp.

G.    Upon retirement, benefit provided monthly for life

H.    Beneficiary benefit (depending on your prior selection)

I.       Past vesting credit (years only - not monetary, and only employees doing bargaining unit work at the time your contractor becomes a contributing employer)

J.     Since July 1, 2005, we put $.90 in the Local 50 Pension. At this time, the $.90 is not being recorded in your personal pension fund.

Local Pension Contribution Schedule

160 hours at $3.25 = $520.00 -- 1 month
$520.00 x 12 months = $6,240 -- 1 year
$6,240 x 10 years = $62,400 -- 10 years
$6,240 x 20 years = $124,800 -- 20 years
$6,240 x 30 years = $187,200 -- 30 years

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10 year monthly pension -- $0.00
20 year monthly pension -- $0.00
30 year monthly pension -- $0.00
Full benefits payable at age 65 or years of service and age = 90

NATIONAL PENSION PLAN

$1.35 per hour employer contribution

A.     Tax sheltered

B.     Professional investment

C.    5 year vesting (up to 5 years past service credit will be granted after 1 year of future service credit if your contractor becomes a contributing employer - including monetary)

D.    Early retirement

E.     Upon retirement, benefit provided monthly for life

F.     Beneficiary benefit (depending on your prior selection)

Full benefits payable at age 62