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NIGPP
Is...
NIGPP is a nationwide "multiemployer plan"
composed of hundreds of different Participating Employers and many
international and local Unions. The Plan is administered by the
Board of Trustees with the help of an Administrative Agency - currently,
Prudential Financial.
The Plan is a "defined benefit plan."
Its pension benefits are determined on a formula basis which recognizes
your length of service and your Benefit Level(s). Your Benefit Level(s)
and your Participating Employer's contribution rate are determined
by the Participation Agreement (the agreement by which your Participating
Employer and Union join the Plan). You will receive an annual benefit
statement showing your current Benefit Level(s) and pension benefits
to which you may be entitled after you become Vested and otherwise
eligible.
A Plan Year is the same as a calendar year, beginning on January
1 and ending the following December 31.
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