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

WHO CAN PARTICIPATE

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.

 

HOW DOES THE PLAN WORK

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 your Plan brochure to see additional information regarding your investment alternatives.

 VESTING

Please remember that although your account balance is subject to market risk, your contributions are always 100% vested.

 

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Generally, funds may be withdrawn from your account in these events: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

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

 

HOW DO I ENROLL

Simply complete a enrollment form and a investment election form. Return it to the designated person/entity on the “How to Enroll Form”.

Be sure to indicate how you want to invest your funds.

 

A DEDICATED TEAM TO MEET YOUR NEEDS

You have access to a dedicated professional team of experts to help you answer questions.

  • SVS, Inc. 1-800-383-3250 For questions regarding Statements, Account Balances, or obtaining a Personal Identification Number (PIN)
  • ERISA Administrators 1-866-516-6090 For questions regarding Employer Contributions, Address changes and Request for Distributions.
  • Kevin Clift – Morgan Stanley Smith Barney Inc. 1-800-261-5531 For questions regarding Investments, Retirement Planning, Educational Planning, and Financial Planning

 

HOW TO ACCESS YOU ACCOUNT

You can access your account information by either the:

In order to access your account you will need:

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

To obtain a PIN call SVS at 1-800-273-3250

 

SVS SERVICE CENTER OFFERS THE FOLLOWING

  • Access virtually 24 hours a day, 7 days a week
  • Account inquiry for balances
  • Review and change of 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
  • Change of PIN

SVS Representatives are available Monday-Friday from 9:00 a.m – 5:00 p.m. (Central Time) at 1-214-521-8691 or 1-800-273-3250

 

Disclaimer

Information is current as of 10-25-2013 and is subject to correction/revision.