Local 138 Self Direct Program

Monday, 07 February 2011 15:29

The Prudential GDA Account net rate for the period 1/1/2011 through 6/30/2011 is 5.75%.  Please contact David Barnett, SR. Vice President of Investments at Merrill Lynch, at (631)351-5190 if you are not currently enrolled in the Self Sirect Program and would like to participate.


Summary of Material Modification

Monday, 22 February 2010 21:10

Summary of Material Modification


Important Notice of Summary of Material Modifications

Monday, 27 April 2009 19:00


TO:     All Eligible Participants of the Local 138, 138A, 138B & 138C Annuity Fund.

In order to address the ongoing issue of the fluctuation in the economic markets and to benefit affected participants and their beneficiaries, the Trustees of the Local 138, 138A, 138B & 138C Annuity Fund have modified the Plan’s valuation upon distribution provisions.

Effective January 1, 2009, when a participant with more than $5,000.00 in their account applies for a distribution of $5,000.00 or more, the Fund shall retain 10% of the gross distribution amount until the investment yield of the Fund is determined.  The Fund will distribute the remaining distribution to the participant, depending on the market gain or loss of the Fund, at the end of the Plan Year in which the distribution is taken.

This modification was passed upon the advice of our professional advisors and takes into account fluctuations in the economic markets that might negatively impact on your account at a particular time.

Please keep this notice with your Summary Plan Description.  If you have any questions regarding the contents of this notice or your benefits in general, please contact William K. Duffy, Jr., the Fund Administrator, at (631) 694-2480 ext. 3.

Very truly yours,

Board of Trustees