28 \\ Termination Insurance is less than $5,000.00, the Pension Fund may require that you be paid a lump sum. If the Pension Fund is terminated, the Trustees will: (a) pay the ex- penses of the Trust Fund incurred up to the date of termination as well as the expenses in connection with the termination; (b) arrange for a final audit of the Trust Fund; (c) give any notice and prepare and file any reports which may be required by law; and (d) apply the assets of the Trust Fund in accordance with the law and the Pension Fund including amendments adopted as part of the termination until the assets of the Trust Fund are distributed. No part of the assets or income of the Trust Fund will be used for purposes other than for the exclusive benefit of the participants and the beneficiaries or the administrative expenses of the Trust Fund. Under no circumstances will any portion of the Trust Fund revert or inure to the benefit of any contributing employer or the union either directly or indirectly. Upon termination of the Pension Fund and Trust Fund, the Trustees will promptly notify the union, the employers, and all other inter- ested parties. The Trustees will continue as Trustees for the purpose of winding up the affairs of the Pension Fund and Trust Fund. TERMINATION INSURANCE Your pension benefits under this multiemployer plan are insured by the Pension Benefit Guaranty Corporation (PBGC), a federal in- surance agency. A multiemployer plan is a collectively bargained pension arrangement involving two or more unrelated employers, usually in a common industry. Under the multiemployer plan program, the PBGC provides finan- cial assistance through loans to plans that are insolvent. A multiem- ployer plan is considered insolvent if the plan is unable to pay bene- fits (at least equal to the PBGC’s guaranteed benefit limit) when due. The maximum benefit that the PBGC guarantees is set by law. Under the multiemployer program, the PBGC guarantee equals a participant’s years of service multiplied by (1) 100% of the first $11 of the monthly benefit accrual and (2) 75% of the next $33. The PBGC’s maximum guarantee limit is $35.75 per month times a participant’s years of service. For example, the maximum annual guarantee for a retiree with 30 years of service is $12,870. The PBGC guarantee generally covers: (1) normal and early re- tirement benefits; (2) disability benefits if you become disabled before the Fund becomes insolvent; and (3) certain benefits for your survivors. The PBGC guarantee generally does not cover: (1) benefits greater than the maximum guaranteed amount set by law; (2) benefit in- creases and new benefits based on Fund provisions that have been in place for fewer than five (5) years at the earlier of the date the Fund terminates or the time the Fund becomes insolvent; (3) benefits that are not vested because you have not worked long enough; (4) ben- efits for which you have not met all the requirements at the time the Fund becomes insolvent; and (5) non-pension benefits, such as health insurance, life insurance, certain death benefits, vacation pay, and severance pay. For more information about the PBGC and the benefits it guaran- tees, ask your Fund administrator or contact the PBGC’s Technical Assistance Branch, 1200 K Street NW, Washington, D.C. 20005- 4026 or call 800-400-7242. TTY/TDD users may call the federal re- lay service toll-free at 1-800-877-8339 and ask to be connected to 800-400-7242. Additional information about the PBGC’s pension insurance program is available through the PBGC’s website on the Internet at www.pbgc.gov. STATEMENT OF RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 AS REVISED BY THE PENSION PROTECTION ACT (PPA) OF 2006 As a participant in the IAM National Pension Fund, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Fund participants shall be entitled to: RECEIVE INFORMATION ABOUT YOUR FUND AND BENEFITS Examine, without charge, at the Fund Administrator’s office and at other specified locations, such as worksites and union halls, all doc- uments governing the Fund, and a copy of the latest annual report (Form 5500 Series) filed by the Fund with the U.S. Department of Labor and available at the Public Disclosure Room of the Employ- ee Benefits Security Administration. In addition, ERISA as revised by PPA entitles you to receive the following additional documents upon request: periodic actuarial reports including sensitivity test- ing in response to a certification of critical or endangered status, and quarterly, semi-annual or annual financial reports including investment reports and other financial reports. Obtain, upon written request to the Fund Administrator, copies of documents governing the operation of the Fund, copies of the latest annual report (Form 5500 Series), copies of periodic actuar- ial reports and financial reports, as described above, and updated