New federal laws have allowed Funds like the Local 814 Annuity Fund to change plan rules to help members in this tough time. President Jason Ide, Secretary-Treasurer Walter Taylor, as well as the Employer trustees, have voted to implement many of these changes in order to help to the membership get through this pandemic.
For details, please see the notice below. Among these changes, Annuity loan payments can be delayed, interest rates have been cut, and COVID hardship withdrawals are now possible.
Beneath the notice, we have included a link to the form members who want to take advantage of many of these changes must fill out.
If you have questions, please email Pension@nnjtbp.org. If you do not have email access, you can reach Michele Prochov in the Annuity Department at 973-715-9913.April-2020-SMM-re-Loans-Distributions-Valulation3043318.1-2