The Retirement Savings Plan which is a successor Plan to the Money Purchase Plan was adopted effective January 1, 2007. It is a multi-employer, collectively bargained Profit Sharing (401a) Plan with an Elective Deferral (401k) option. The Plan is funded from Employer contributions and elective Employee 401k contributions. It is a defined contribution plan which means that benefits at retirement or early withdrawal, if applicable, are determined by the amount of total contributions made on your behalf into the plan (including elective 401k contributions) plus or minus investment returns or losses net of investment fees, minus your share of the Plan's operating expenses.

Members working under the Inside Wire or Material Handlers agreements may elect 401(k) contributions in $1.00 per hour increments up to $8.00 per hour during an open enrollment period which begins in November, with payroll changes taking effect on January 1. These elective contributions reduce taxable income, but not earnings subject to social security taxes. You may change your election to any whole dollar amounts from zero up to $8.00 per hour only during open enrollment.

You are immediately vested with the first dollar that is contributed to the plan on your behalf.

See also: Notice of USERRA Rights

The Plan determines the value of your individual Account as of midnight of each Business day. The default fund, known as the Trustee-Directed Account, includes a 5% allocation to commodities index fund with the remaining balance actively managed by Dodge & Cox in both equity and fixed income assets. The Plan provides the option to self-direct all, or a portion, of the net assets credited to your Individual Account. Click here to access the on-line investment education workshop. The investment options include a wide range of funds that vary from conservative to more aggressive investment approaches allowing you to design an investment strategy that best suits your goals, time horizon and risk tolerance. The Plan has contracted with Alan Biller & Associates, an investment consulting firm, to monitor the Plan's investments and investment managers and to assist the Board in developing the Plan's investment policy.

Fidelity Investments has been retained to provide both custody and recordkeeping services for the Plan. To register and to view your account activity on the Fidelity website, click here.

When you work in other jurisdictions, your contributions may be transferred into this plan, provided you timely follow the required procedures. See the "Reciprocity" page for additional information.

The San Francisco Electrical Workers Retirement Savings Plan has been amended to allow two loans to any Participant or Beneficiary in the Plan on or after July 1, 2010. Loans are initiated through Fidelity's website or by phone at 1-866-84-UNION. For more details, please consult the complete text of the loan policy.

Fidelity will provide quarterly statements showing detailed Employer and Employee Contribution information and the value of your Account as of the end of each quarter. You may also access your account online by logging on to Fidelity NetBenefits at www.fidelity.com/atwork. You must set up a personal identification number (PIN) either online or by contacting Fidelity at 1-866-84UNION in order to access you Account. You are responsible for reviewing your Account information carefully and notifying the Plan Office promptly if you notice, or reasonably should notice, any errors in your statement, including any failure of the Plan to have implemented an Employee Contribution election you may have made.