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Document Preview Union Employees' 401(k) Plan |
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Title: |
Union Employees' 401(k) Plan |
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Entities: |
CRH plc; AFL-CIO; International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers & Helpers; Oldcastle Architectural, Inc. |
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Date: |
2003 |
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Size: |
Preview shows 15KB of 171KB total |
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Price: |
$41 |
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ID: |
#252485 |
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OLDCASTLE ARCHITECTURAL, INC.
UNION EMPLOYEES' 401(k) PLAN
TABLE OF CONTENTS
ARTICLE I DEFINITIONS..............................................2
ARTICLE II PARTICIPATION...........................................12
2.01 Eligibility Requirements................................12
2.02 Participation upon Reemployment.........................12
2.03 Rights of Participants..................................12
2.04 Election not to Participate.............................12
ARTICLE III PARTICIPANT DEFERRAL CONTRIBUTIONS......................13
3.01 Effective Date and Special Definitions..................13
3.02 Deferral Contributions..................................13
3.03 Participant Deferrals - Limitations and Rules...........14
3.04 Section 401(k) Nondiscrimination Test...................16
3.05 Catch-up Contributions..................................19
ARTICLE IV EMPLOYER CONTRIBUTIONS..................................20
4.01 Effective Date and Special Definitions..................20
4.02 Employer Matching Contributions.........................20
4.03 Nondiscrimination.......................................20
4.04 Special Rules for Employer Matching Contributions.......20
4.05 Employer Contributions..................................20
4.06 Allocation of Employer Contributions....................20
4.07 Reversion of Employer Contributions.....................21
4.08 Correction of Prior Incorrect Allocations...............21
ARTICLE V ROLLOVER CONTRIBUTIONS, DIRECT ROLLOVERS, AND
NONDEDUCTIBLE EMPLOYEE CONTRIBUTIONS....................22
5.01 Rollover Contributions and Direct Rollovers
from Other Plans........................................22
5.02 Nondeductible Employee Contributions....................23
5.03 Transfers...............................................23
ARTICLE VI CONTRIBUTION ALLOCATIONS AND LIMITATIONS................24
6.01 Deferral Contributions..................................24
6.02 Employer Contributions..................................24
6.03 Allocation of Rollover Contribution.....................24
6.04 Limitation on Annual Addition...........................24
ARTICLE VII VALUATION OF FUND, ALLOCATION OF GAINS AND LOSSES AND
INVESTMENTS.............................................27
7.01 Valuation of Fund.......................................27
7.02 Allocation of Gains and Losses..........................27
7.03 Daily Valuation.........................................27
7.04 Investment Funds........................................28
7.05 Investment of Contributions.............................28
7.06 Investment of Earnings..................................28
7.07 Transfer of Assets between Funds........................28
7.08 Change in Investment Direction..........................28
7.09 Section 404(c) Plan.....................................28
ARTICLE VIII RETIREMENT, DEATH, DISABILITY AND TERMINATION OF
EMPLOYMENT..............................................29
8.01 100% Vesting in Certain Accounts........................29
8.02 Normal Retirement.......................................29
8.03 Late Retirement.........................................29
8.04 Death Benefits..........................................29
8.05 Disability..............................................30
8.06 Termination of Employment...............................31
ARTICLE IX DISTRIBUTION OF BENEFITS TO PARTICIPANTS................32
9.01 Method of Payment.......................................32
9.02 Commencement of Benefits................................32
9.03 Death Distributions.....................................33
9.04 Beneficiaries...........................................33
9.05 Account Adjustments.....................................33
9.06 Cash-Out Procedure......................................34
9.07 Buy-Back Procedure......................................34
9.08 Reemployment After One Year Break in Service............34
9.09 Requirement for Direct Rollovers........................35
9.10 Consent and Notice......................................36
ARTICLE X IN-SERVICE DISTRIBUTIONS................................37
10.01 Hardship................................................37
10.02 Age 59 1/2Distributions.................................38
10.03 Nondeductible Contributions and
Rollover Contributions..................................38
10.04 Loan Program............................................39
10.05 Form of Payment.........................................39
ARTICLE XI PLAN ADMINISTRATION.....................................40
11.01 Establishment of the Administrative
and Investment Committee................................40
11.02 Powers of the Administrative and
Investment Committee....................................40
11.03 Duties of the Administrative and
Investment Committee....................................41
11.04 Actions by the Committee or a Subcommittee..............41
11.05 Action Taken in Good Faith..............................42
11.06 Benefit Application and Claims Procedure................42
11.07 Allocation of Responsibilities..........................43
ARTICLE XII THE TRUST FUND AND TRUSTEE..............................44
12.01 Existence of Trust......................................44
12.02 Exclusive Benefit Rule..................................44
12.03 Removal of Trustee......................................44
12.04 Powers of Trustee.......................................44
12.05 Integration of Trust....................................44
ARTICLE XIII AMENDMENT AND TERMINATION...............................45
13.01 Right to Amend..........................................45
13.02 Right to Terminate......................................45
13.03 Vesting upon Termination or Partial Termination.........45
13.04 Distributions upon Termination..........................46
13.05 Merger..................................................46
ARTICLE XIV TOP HEAVY PROVISIONS....................................47
14.01 Top Heavy Provisions....................................47
ARTICLE XV MISCELLANEOUS PROVISIONS................................48
15.01 Prohibition Against Diversion...........................48
15.02 Prudent Man Rule........................................48
15.03 Responsibilities of Parties.............................48
15.04 Reports Furnished Participants..........................48
15.05 Reports Available to Participants.......................48
15.06 Reports Upon Request....................................49
15.07 Merger or Consolidation of Plan Sponsor.................49
15.08 Non-Alienation or Assignment............................49
15.09 Plan Continuance Voluntary..............................50
15.10 Suspension of Contributions.............................50
15.11 Payments to Minors and Others...........................50
15.12 Unclaimed Benefits......................................50
15.13 Amendment of Former Vesting Schedule....................50
15.14 Indemnification.........................................51
15.15 Agreement Not An Employment Contract....................51
15.16 Governing Law...........................................51
15.17 Headings Not Part of Agreement..........................51
APPENDIX A Thomasville Local 7343 Employees..............................53
APPENDIX B Lee Local D-132 Employees.....................................57
{PAGE}
OLDCASTLE ARCHITECTURAL, INC.
UNION EMPLOYEES' 401(k) PLAN
WHEREAS, Oldcastle Architectural, Inc. ("Employer" or "Plan Sponsor")
desires to implement a 401(k) plan for the benefit of its employees covered by
collective bargaining agreements with various unions; and
WHEREAS, said Plan is intended to meet the requirements of the Internal
Revenue Code of 1986, as amended ("Code"), the Employee Retirement Income
Security Act of 1974 ("ERISA") and subsequent acts of Congress, and the Plan
shall be interpreted, wherever possible, to comply with the terms of the Code
and ERISA and all formal regulations and rulings issued under the Code and
ERISA;
NOW, THEREFORE, the Oldcastle Architectural, Inc. Union Employees' 401(k)
Plan is stated as hereinafter provided to be effective as of October 1, 2002,
except as otherwise specifically provided herein.
All contributions made by the Employer to this Plan are expressly
conditioned upon qualification of the Plan under Section 401(a) of the Code, and
upon the deductibility of such contributions under Section 404 of the Code.
{PAGE}
ARTICLE I
DEFINITIONS
As used in this Plan and the accompanying Trust Agreement the following
terms shall have the meanings set forth below unless a different meaning is
plainly required by the context:
"Accounts" shall mean, collectively, the accounts established and
maintained under the Plan for a Participant. In addition to such other Accounts
as the Plan Administrator may deem necessary, the Plan Administrator shall
establish and maintain such separate Accounts as are applicable for each
Participant to be designated as follows:
(a)......"Deferral Contribution Account" which shall reflect a
Participant's interest in the Plan resulting from his election to enter into a
deferral agreement with the Employer pursuant to Section 3.03 hereof, as
adjusted to reflect income, gains, losses and other credits or charges
attributable thereto. A Participant's Deferral Contribution Account shall also
reflect the Participant's interest in the Plan resulting from any Catch-up
Contributions made pursuant to Section 3.05 hereof, as adjusted to reflect
income, gains, losses and other credits or charges attributable thereto. There
may also be established a subaccount under a Participant's Deferral Contribution
Account to separately reflect a Participant's Catch-up Contributions.
(b)......"Employer Contribution Account" which shall reflect a
Participant's interest in the Plan resulting from any Employer Contributions
made pursuant to Section 4.05 hereof, as adjusted to reflect income, gains,
losses and other credits or charges attributable thereto.
(c)......"Employer Matching Contribution Account" which shall reflect a
Participant's interest in the Plan resulting from any Employer Matching
Contributions made by the Employer pursuant to Section 4.02 hereof, and
allocated to a Participant's Account by reason of the Deferral Contributions
made on his behalf, as adjusted to reflect income, gains, losses and other
credits or charges attributable thereto.
(d)......"Rollover Account" which shall reflect a Participant's interest in
the Plan resulting from any direct transfers made on his behalf of any "rollover
contributions" the Participant may make pursuant to Section 5.01 hereof, as
adjusted pursuant to the Plan to reflect income, gains, losses and other credits
or charges attributable thereto.
(e)......"Nondeductible Employee Contribution Account" which shall reflect
a Participant's interest in the Plan resulting from his election to make
after-tax contributions pursuant to Section 5.02, as adjusted to reflect income,
gains, leases and other credits or charges attributable to the note.
(f)......"Qualified Nonelective Deferral Contributions Account" which shall
reflect a Participant's interest in the Plan resulting from any Qualified
Nonelective Deferral Contributions made by the Employer pursuant to Section
3.01(e) hereof, and allocated to a Participant's Account, as adjusted to reflect
income, gains, losses and other credits or charges attributable thereto.
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