Page 5 - Pay'n Save Retirement Truat fund

3 | SOUND RETIREMENT

This SPD describes how the Sound Plan works and how
benefits are paid to you under the terms of the Sound Plan
as of July 1, 2017, unless otherwise noted. If you retired or
terminated your employment before that date, your pension
benefit will be calculated under the terms of your pension
plan on the date you retired or terminated. If this applies to
you, contact the Administrative Office at (206) 282-4500
or (800) 225-7620 for more information. You may also visit
www.soundretirementtrust.com for general information about
the Sound Plan, including information about plan provisions,
frequently asked questions, and details about your own pension
benefit.
The Trust is funded by contributing employers under collective
bargaining agreements and participation agreements with
the Trust. It is intended to provide retirement income that is
additional to any benefits you may be entitled to receive from
Social Security.

It is extremely important that you keep the Trust Office
informed of any change in address, marital status, or desired
changes in beneficiary designation.

The importance of a current, correct address on file with the
Trust Office cannot be overstated. It is the primary way to
keep in touch with you regarding Plan changes and other
developments affecting your benefits under the Trust.

HOW YOUR PENSION PLAN WORKS

You earn a benefit based on a certain percentage of employer
contributions made on your behalf for each Plan Year (October
1−September 30), provided you complete a sufficient amount
of service to vest. When you begin receiving benefits, these
amounts are added together to determine your base monthly
payment for life, payable as a single life annuity.

The amount of your plan benefit will depend on all of the
following:

 Your required contributions from a contributing employer.
 The percentage of employer contributions you are eligible to
receive.
 Your years of service.

 Whether you terminate your employment before retirement
age.

 When you begin receiving your pension benefit.