International Union of Operating Engineers

Local 406

New Orleans - Baton Rouge - Lafayette / Lake Charles - Shreveport / Monroe 

South Central Annuity Fund

International Union of Operating Engineers

Local 406

New Orleans - Baton Rouge - Lafayette / Lake Charles - Shreveport / Monroe 

South Central Annuity Fund

South Central Annuity Fund Plan Highlights

PLAN HIGHLIGHTS and ENROLLMENT INFORMATION

Participation in the Plan is open to employees who:

  • Are covered under a collective bargaining agreement
  • Or non-bargaining employees who have a participation agreement

Other requirements may also have to be met as described in your Plan Document.

The Plan’s operation is simple:

  • Your employer makes contributions to the Plan on your behalf as defined in the collective bargaining agreement
  • You pay no current federal income tax on the pre-tax amount contributed to the Plan. You also pay no current federal income tax on the earnings the Plan generates. You only pay tax when you withdraw money from your account
  • You decide how you want your account invested. Your Plan offers several investment alternatives. See the back page of this booklet for additional information regarding your investment alternatives

Please remember that although your account balance is subject to market risk,

your contributions are always 100% vested.

ANNUITY ACCOUNTS

Generally, funds may be withdrawn from your account in these events:

  • Retirement
  • Death
  • Disability
  • Termination of Employment (no contributions for 24 consecutive months)

Contact Information:

SVS, Inc.1-800-273-3250 - For questions regarding Statements, Account Balances, or obtaining a Personal Identification Number (PIN).

Benefit Resources 1-866-236-3148 – For questions regarding Employer Contributions, Address changes and Request for Distributions.

RBC-Clift Group1-866-722-0593 – For questions regarding Investments, Retirement and Financial Planning.

You can access your account information by either the Internet at www.svsval.com or by the voice response unit at 1-800-827-4023.   In order to access your account, you will need:

  • Your Social Security Number and
  • Personal Identification Number (PIN)

To obtain a Personal Identification Number (PIN) call SVS at 1-800-273-3250.

See your Plan Document for detailed information about taking withdrawals from the Plan.

  • Access virtually 24 hours a day, 7 days a week
  • Account inquiry for balances
  • Review and change future investment direction
  • Ability to request exchanges among investments
  • Retirement Projections – Projects balances and future contributions to age 65 based on contributions And interest assumptions

 

Disclaimer

Information is current as of 1-31-2020 and is subject to correction/revision.