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    2. Elevator Constructors Union Local No. 1 Annuity and 401 (k) Plan Retirement Seminar Presenters National Elevator Industry Pension Plan Jim Govannicci, Benefit Manager Pension Plan ECU Local No. 1 Annuity and 401(k) Plan Rita Wisniewski, Fund Manager Lucille Hart, Administrator Vanguard (ECU Local No. 1 401(k) Plan) Dan Marafino 2

    3. WHERE WILL MY RETIREMENT INCOME COME FROM? National Elevator Industry Pension Plan ECU Local No. 1 Annuity Plan ECU Local No. 1 401(k) Plan Personal Savings Real Estate Social Security 3

    4. PENSION PLANS 4

    5. PENSION PLANS 5

    6. LOCAL 1 ANNUITY AND 401(K) PLAN When do I begin Participation in the Plan? For the Annuity portion, participation is automatic. You begin participation on the first day you work for an Employer that makes contributions to the Local 1 Fund. For the 401(k) portion, participation is voluntary. You decide if and when you want to participate. 6

    7. LOCAL NO. 1 ANNUITY AND 401(k) PLAN 7

    8. LOCAL NO. 1 ANNUITY AND 401(k) PLAN 8

    9. LOCAL NO. 1 ANNUITY AND 401(k) PLAN How will my Annuity Account be Paid to Me? 9

    10. LOCAL NO. 1 ANNUITY AND 401(k) PLAN 10

    11. When should I apply for my Account? Rules apply Annuity Account Only If your Application is postmarked or hand delivered to the Fund Office by March 31, you will receive your Account in two installments in the year in which you apply. 80% of your Account will be paid to you as soon as it is processed, but no earlier than 30 days after the Fund Office sends you the Application for Distribution. The remaining 20% of your Account plus or minus the prior year’s Yield and Operating Expenses will be paid to you later in the same year (generally in June) after these numbers have been calculated and verified. 11

    12. If your Application is postmarked or hand delivered to the Fund Office on or after April 1, you will receive your Account in two installments. The first payment will be made to you in the year in which you apply, and the second payment will be paid to you in the following year. First Payment - 80% of your Account will be paid to you as soon as your Application is processed, but no earlier than 30 days after the Fund Office sends you the Application for Distribution. Second Payment - The remaining 20% of your Account plus/minus a pro rata share of the current year Yield and Operating expenses will be paid in the following year (generally in June) after these numbers have been calculated and verified. 12

    13. LOCAL NO. 1 ANNUITY AND 401(k) PLAN 13

    14. LOCAL NO. 1 ANNUITY AND 401(k) PLAN 14

    15. LOCAL NO. 1 ANNUITY AND 401(k) PLAN Special Features of the Annuity Plan Loans Mortgage* Home Improvements and Repairs* Purchase of Auto or Motorcycle (for employee transportation to/from work)* Education* Extraordinary Medical or Dental Expenses* Funeral* Disability Involuntary Unemployment (up to $700 per week) * Application processing fee applies 15

    16. Special Features of the Annuity Plan Loans (continued) Must have Annuity Account for at least 3 years Maximum loan – 50% of account, not to exceed $50,000 Must be repaid through Payroll Deduction Interest goes back into your Annuity Account Default – Fund Office must issue a Form1099R to you. Outstanding Principal and Interest are considered income to you and subject to federal, state and local taxes. (Additional penalties may apply) If you are in default on a loan, you cannot take another loan. 16

    17. Special features of the Annuity Plan Special Financial Needs Withdrawals Limit of 2 withdrawals in any 12 month period Maximum of $50,000 in withdrawals in any 12 month period 17

    18. LOCAL NO. 1 ANNUITY AND 401(k) PLAN Write or Call the Fund Office at – Note New Address ECU LOCAL NO. 1 ANNUITY AND 401(k) PLAN 140 Sylvan Avenue, Suite 303, Englewood Cliffs, NJ 07632 (201) 592-6800 (212) 564-4800 or Visit our Web Site at: www.benserconj.com and click on the Local 1 logo If you have questions To change your address or marital status To request a Beneficiary Designation form To apply for your Annuity and 401(k) withdrawals 18

    19. ELEVATOR CONSTRUCTORS UNION LOCAL No. 1 ANNUITY AND 401(k) PLAN 140 Sylvan Avenue, Suite 303, Englewood Cliffs, NJ 07632 (201) 592-6800 (212) 564-4800 Union Trustees Employer Trustees Leonard Legotte E. James Walker, Jr. (EMANY) Michael Riegger Michael Shields (Schindler) Steve Mazza Vincent Schiavone (Kone) 19

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