What is the Supplemental Retirement Plan?
The Supplemental Retirement Plan (the “Plan”) is a defined contribution profit sharing plan where your Employer makes contributions to your Employer Contribution Account in the Plan and the investment performance of the funds you select ultimately determines your benefits under the Plan. Although it technically qualifies as a "profit sharing plan," your Employer's obligation to contribute on your behalf does not depend on its profits. Instead, your Employer must contribute for service you perform under its collective bargaining agreement or other written agreement requiring contributions.
Who Administers The Plan?
A Board of Trustees, which serves without compensation, acts on your behalf and on behalf of your fellow Employees in managing all aspects of the Plan’s operations. An equal number of Regional Council and Employer representatives comprise the Board of Trustees, whose powers and duties are established in the Trust Agreement. The Board of Trustees may appoint a person, or persons, to act as Plan Administrator on its behalf as to certain matters. The Plan Administrator has the power and discretionary authority to interpret the Plan and answer questions related to the Plan. The Plan Administrator's interpretations and decisions are binding on all participants, Employees, former Employees, and their beneficiaries.