SUMMARY PLAN DESCRIPTION

ORANGE COUNTY ELECTRICAL WORKERS DEFINED CONTRIBUTION PLAN SUMMARY PLAN DESCRIPTION [For Members of IBEW 441] AUGUST 2008

TABLE OF CONTENTS Section 1 How do I Know If I Am a Participant in the Retirement Plan?...1 Section 2 What Contributions Are Made On My Behalf?...1 Section 3 What Is An Individual Account?...2 Section 4 When Is My Account Vested?...3 Section 5 How Are Hours of Service Determined?...3 Section 6 Benefits For Certain Armed Services Under Federal Law...4 Section 7 How Is The Money In My Individual Account Invested?...5 Section 8 Can I Change My Investment Decision?...5 Section 9 When Does My Participation Terminate?...5 Section 10 When Can I Receive The Money In My Account?...6 Section 11 What Amount do I Receive When I Request My Individual Account?...8 Section 12 How Will My Account Be Distributed?...8 Section 13 Do I Have To Pay Tax On The Money In My Individual Account?...12 Section 14 How Do I Designate A Beneficiary For My Account...15 Section 15 How Do I, Or My Beneficiary, Apply For Benefits?...16 Section 16 May I Borrow From The Plan?...17 Section 17 What Is The Procedure To Follow If My Application Is Denied?...19 Section 18 May I Assign My Benefits?...22 Section 19 What Is A Qualified Domestic Relations Order?...22 Section 20 Are Plan Documents Available To Participants And Beneficiaries?...22 Section 21 Who Runs The Plan?...23 Section 22 What Contributions Are Made To The Plan And What Is The Process for Such Contributions?...23 Section 23 How Could I Lose Money In the New Plan?...24 Section 24 How Could I Lose Money?...24 Section 25 Can The Plan Be Amended Or Terminated?...26 Page Page ii

ORANGE COUNTY IBEW-NECA ELECTRICAL WORKERS DEFINED CONTRIBUTION PLAN 1120 South Bascom Avenue San Jose, California 95128 (408) 288-4400 EMPLOYER TRUSTEES Stephen E. Brown Peggy Brown Todd Perry UNION TRUSTEES Douglas Chappell, Co-Chair Rick Cruzen Richard Samaniego TRUST FUND OFFICE CONSULTANT United Administrative Services Mike Finnerty 1120 So. Bascom Avenue Innovative Cost Management San Jose, CA 95128 1871 The Alameda, Suite 335 San Jose, CA 95126 LEGAL COUNSEL AUDITOR Dick Grosboll Iniech & Associates Neyhart, Anderson, Flynn & Grosboll 901 Mariners Island Boulevard 44 Montgomery Street, Suite2080 Suite 305 San Francisco, CA 94104 San Mateo, CA 94404 INVESTMENT CONSULTANT RECORDKEEPER/ ADMINISTRATION Russell K. LaBarge Rolf P. Mogstad Strategic Capital Investment Advisors, Inc. Mass Mutual Financial Group 1010 Jorie Blvd., Suite 240 1295 State Street Oak Brook, IL 60523 Springfield, MA 01111 Page iii

August, 2008 Dear Participant: We are pleased to provide this booklet describing the provisions of the Orange County Electrical Workers Defined Contribution Pension Plan. This booklet is called a Summary Plan Description. The Plan provides retirement benefits to members of IBEW Local 441. It is designed to supplement your other retirement plan to provide you with an additional source of income during retirement. This booklet summarizes the key provisions of the Plan including how you earn benefits, when you may commence receiving your benefits and the choices you have when your benefits are paid to you. The formal text of the Plan controls eligibility, benefit payments, and other aspects of the Plan. If there is a conflict between this booklet and the Plan, the Plan will govern. You should read this booklet carefully and discuss it with your spouse because you each may have an interest in the Plan. Over the years you may accumulate substantial funds to which you or your named beneficiary may be entitled. Please submit a completed beneficiary form to the Fund Office. You also should notify the Trust Fund Office of any address change. Only the Board of Trustees is authorized to interpret the Plan of benefits described in this booklet. The Board of Trustees has the full discretionary authority to determine eligibility for benefit claims and appeals, to construe and interpret the Plan and related documents, and any rules. No one else can interpret the Plan this includes Employers, the union and their representatives. If you have any questions about the Plan or desire any additional information, please contact the Trust Fund Office (408) 288-4400. Sincerely, The Board of Trustees YOU SHOULD KEEP THIS SUMMARY PLAN DESCRIPTION FOR FUTURE REFERENCE Page iv

LIMITATION UPON RELIANCE ON BOOKLET AND STATEMENTS This booklet provides a brief, general summary of the Plan. It is not intended to cover all of the details of the Plan. Nothing in this Summary Plan Description is meant to change the Plan s provisions. You should review the Plan to fully determine your rights. The Plan as amended, is available for your review at the Trust Fund Office upon written request. You are not entitled to rely upon oral statements of Employees of the Trust Fund Office, a Trustee, an Employer, any Union officer, or any other person or entity. As a courtesy to you, the Trust Fund Office may respond orally to questions; however, oral information and answers are not binding upon the Plan and cannot be relied upon in any dispute concerning your benefits. If you wish an interpretation of the Plan you should address your request in writing to the Board of Trustees at the Trust Fund Office. To make their decision, the Trustees must be furnished with full and accurate information concerning your situation. You should further understand that, from time to time, there may be an error in a statement that you receive which may be corrected upon an audit or review. The Board of Trustees reserves the right to make corrections whenever any error is discovered. C A U T I O N - FUTURE PLAN AMENDMENTS Future amendments to the Plan may have to be made from time to time to comply with new laws or amendments passed by Congress, rulings by federal agencies or courts, and other changes deemed necessary or prudent by the Board of Trustees. You will be notified if there are important amendments to the Plan. Before you decide to retire, you may want to contact the Trust Fund Office to determine if there have been Plan amendments or other developments that may affect your retirement. SEEK ADVICE OF TAX CONSULTANT The Trust Fund Office does not provide tax advice or suggest how you should receive your benefits. You should discuss with a tax advisor the tax consequences of any withdrawal of funds or selection of benefit options. Page v

QUESTIONS AND ANSWERS ABOUT THE PLAN 1. How do I know if I am a Participant in the Retirement Plan? You become a Participant in the Plan as soon as Employer contributions on your behalf under a collective bargaining agreement between IBEW Local 441 and the NECA Orange County Chapter are received by the Plan. At that time, the Plan will establish an Individual Account in your name. (Each employee who worked in Covered Employment on or after July 1, 2004, who was a participant in the Southern California IBEW-NECA Defined Contribution Plan on June 30, 2004, automatically became a Participant in the Plan as of July 1, 2004.) If you work under a collective bargaining agreement ( CBA ) in the jurisdiction of another IBEW local union, your Employer s contributions to a defined contribution plan under that CBA will be made on your behalf to that local union s pension fund. If that local union s pension fund is signatory to the Electrical Industry Reciprocal Agreement, IBEW 441 s fund is your Home Fund, and you execute a transfer authorization via the Electrical Reciprocal Transfer System (ERTS), then the contributions that are reported to the other pension fund will be transferred to this Plan and be calculated as if you had worked in IBEW Local 441 s jurisdiction. You also may be a Participant in the Plan if you are a full-time employee of IBEW Local 441 or Local 441 s Joint Apprenticeship Trust. Former bargaining unit employees who qualify as alumni employees under Internal Revenue Code rules may also participate in the Plan. As a Participant, you will receive an annual statement from the Fund Office showing the actual Employer contributions paid on your behalf in the previous year and the value of your Individual Account. It is very important that you carefully review your statements and that you notify the Trust Fund Office immediately if there is an error. 2. What Contributions are made on My Behalf? Employees who work in Covered Employment under the IBEW Local Union No. 441 Master Labor Agreement have contributions made on their behalf in accordance with the terms of that Agreement. Your Employer is required to make contributions for your hours of work by the 20th day of the month following the month in which your hours of work in Covered Employment were performed. Your Employer forwards to the Trust Fund Office a transmittal form that contains the name, and hours of work performed by each Covered Employee together with a payment to the Trust. The Trust Fund Office credits your Individual Account with the amount of contributions made on your behalf. The Plan accepts other types of contributions. If you are a Participant in the Plan and you are eligible for a distribution from another IRS tax-qualified defined contribution pension plan, Page 1

you may roll over that distribution into this Plan. The Plan will accept trustee-to-trustee transfers from another pension to the extent permitted by the Internal Revenue Code or from a rollover IRA, which received a rollover from another qualified pension plan. In addition, if you have changed membership from another IBEW Local Union, you may have your account from that other qualified pension plan transferred directly to this Plan if approved by the Board of Trustees and the other Plan signs the appropriate agreement. ALERT: IF YOU NOTICE YOUR FULL CONTRIBUTIONS ARE NOT PAID You should notify the Union and the Trust Fund Office immediately if you are aware or suspect that your Employer has not contributed to the Plan on your behalf the full amount required under your Collective Bargaining Agreement. If you fail to do so, your Individual Account may not be credited with the correct or full amount. 3. What is an Individual Account? The term individual Account describes how much money you would be entitled to receive from the Plan if you were entitled to a distribution from the Plan. Under the Plan you will have an Individual Account in your name (although the Plan s assets are pooled for investment purposes). The amount of your retirement benefits at your retirement will depend upon the amount of future Employer contributions made on your behalf and the Plan s earnings, expenses and asset appreciation or depreciation. Your Individual Account is set up as of the end of the first month in which any contributions are received on your behalf. a. Valuation. The Plan s annual Valuation Date is December 31 of each year. The value of your Individual Account is based on the amount of Employer contributions made to the Plan on your behalf and your proportionate share of the Plan s earnings (which includes any asset appreciation), minus your share of the Plan s expenses and any asset depreciation. The Plan will also accept rollovers or transfers from other qualified Pension Plans and IRAs to the extent permitted by the Internal Revenue Code and applicable regulations. b. Earnings. Each quarter your Individual Account is credited with your proportionate share of the Plan s earnings, which includes any asset appreciation and investment returns. Maintenance of individual accounts is only for accounting purposes as the amount credited to your Individual Account is aggregated with other individual accounts for investment purposes to take advantage of potential greater rates of return that larger amounts may yield. Because the amount in your account at retirement depends upon the Plan s unforeseeable future earning and expenses, the Plan cannot guarantee that a certain or fixed amount will be available in your account at retirement. Page 2

c. Expenses. The Plan incurs expenses for administration, postage, data processing, printing, investment management and consulting, legal, auditing and other services which are paid on an ongoing basis from the Plan s assets. Your Individual Account is assessed your share of these Plan expenses. This charge may vary each year. Certain expenses attributable to one individual may be assessed against that person s Individual Account. d. Periodic Statements. The Plan Office furnishes you with a statement showing your benefits as of the end of the most recent calendar quarter, which includes the Employer contributions made on your behalf and your share of the Plan s earning and expenses. You should receive your annual and quarterly statements (as of March 31, June 30, September 30 and December 31) within 6 to 8 weeks after the end of the quarter. ALERT IF YOU FIND ERRORS IN YOUR STATEMENT If you find errors in your statement you should notify the Plan Office immediately. If you notice any errors in your hours contributions or otherwise or you have any questions regarding your statements you should notify the Plan Office immediately. 4. When is my Account vested? This Plan provides for immediate vesting (subject to Plan expenses and decreases in the market value of the Plan s assets) once s contribution has been made on your behalf to the Plan. Your Individual Account could, however, reach a zero balance over time if you work a few hours a year and your share of he Plan expenses exceeds the aggregate of the contributions paid on your behalf and your share of Plan earnings. Moreover, if an Individual Account has had no activity for two consecutive Plan Years, the account balance is $100 or less, and the Plan is unable to locate you, the account will be terminated and the proceeds used to pay Plan expenses. The Plan is governed by a federal law known as the Employee Retirement Income Security Act, as amended ( ERISA ). The Plan is not, however, insured under ERISA s Pension Benefit Guaranty Corporation ( PBGC ), which applies only to defined benefit pension plans. Thus, there is no federal guarantee or protection if the market value of your Individual Account decreases in value. 5. How are Hours of Service determined? Hours of service in a Plan year are determined as follows: Page 3

a. Hours worked under the collective bargaining agreement or subscription agreement for which contributions are required to be made to the Plan. b. Hours worked for a contributing Employer in a non-bargaining unit position, which immediately follow or precede employment with the same Employer without any intervening quit, discharge or retirement. Such hours are determined for vesting purposes only. 6. Benefits for Certain Armed Services under Federal Law. Pursuant to various military veterans laws such as the Veteran s Reemployment Rights Act and the Uniformed Service Employment and Reemployment Rights Act (USERRA), an authorized leave of absence due to certain military service in the U.S. Armed Forces is considered Covered Employment provided that you comply with all of the requirements of applicable federal law, the Plan, and any rules established by the Board of Trustees. This Plan provides benefits only for military service which is required to be granted under applicable federal law. To be entitled to such benefits, you must have been working as a Covered Employee during the 90 days prior to your commencement in the Armed Service, have returned to work as a Covered Employee within 90 days following your discharge from the Armed Service, have been honorably discharged and served more than 90 days but less than 5 years. The Board of Trustees has the absolute discretion to determine whether you meet the military service requirements and may require that you certify your periods of employment and provide any other pertinent information or documentation. To be eligible for benefits during certain specified military service you must: Notify the Trust Fund Office before your leave for military service unless unusual circumstances make it unreasonable to provide advance notice. Provide, at the request of the Trust Fund Office, proof of your qualified military service and such other proof as the Plan deems appropriate. Comply with all USERRA requirements, including returning to work in Covered Employment within the period specified by federal law. The Board of Trustees has the absolute discretion to determine whether you meet the military service requirements and may require that you certify periods of employment if the Plan is unable to determine your beginning and ending dates of employment and provide any other pertinent information or documentation. USERRA applies to persons who perform duty, voluntarily or involuntarily in the uniformed services. These services include the Army, Navy, Marine Corps, Air Force, Coast Guard, and Public Health Service Commissioned Corps. Federal training or service in the Army National Guard and Air National Guard also provide rights under USERRA. Uniformed service includes active duty, active duty for training (such as drills), and initial active duty training. Page 4

In determining the level of benefits to which you are entitled for the designated military service, the Plan will calculate the Employer contributions that were made to the Plan on your behalf based on the contributions made on your behalf during the Plan Year immediately preceding the date you commenced such service, or if greater, by using the Plan Year in which you entered the Armed Services. If your military service did not exceed 90 days, you may be entitled to credit for that period under the Uniform Services Employment and Reemployment Rights Act of 1994. 7. How is the money in my Individual Account invested? Each Participant has the ability to make his or her own investment decisions related to the allocation of their account balances between the investment options offered within the Plan. The Board of Trustees selected the investment options based on the following primary objectives. Provide a well diversified set of investment options to allow Participants to effectively invest their assets based on their specific circumstances. Provide a set of investment options that allow Participants to construct investment portfolios across a wide spectrum of risk/return tradeoffs utilizing multiple asset classes. Provide investment options that are diversified as stand alone options. Provide at least one investment option that offers Participants safety of principal as its primary objective. Provide an investment option within each major asset class that provides for market diversification. Provide for a default investment option that meets the definition of a qualified default investment alternative as defined within the Pension Protection Act of 2006 and the associated Department of Labor ruling. Participants are provided materials and information on the Plan s investments from the Defined Contribution Plan Provider. 8. Can I change my investment decisions? Your selection of an investment option may be changed. 9. When does my participation terminate? Your participation in the Plan terminates when: 1. Your retire and take a total distribution from the Plan, or 2. You retire and decide to commence payments as a life annuity; or Page 5

3. You die. 10. When can I receive the money in my Account? To receive your benefits once you are eligible for such benefits, you should file an application in a form and manner prescribed by the Plan within 60 days of your anticipated retirement or benefit commencement date. Applications and instructions may be obtained from the Trust Fund Office. To avoid delays, you should submit with your application: your intended retirement date or benefit commencement date; proof of age (your birth certificate), and that of your spouse if you are married (if you desire a joint and survivor annuity form of benefit); your Social Security number, and if married, your spouse s Social Security number; proof of marriage, if applicable (marriage certificate); Court-approved copy of any marital Final Judgment in your divorce action, including any Settlement Agreement, Qualified Domestic Relations Order or other pertinent divorce papers. If you will be receiving a monthly pension benefit from the Plan, your pension is effective the first day of the month following the date you file your completed pension application and you are eligible to receive your benefits. Benefits are paid as soon as it is administratively feasible after all contributions are received and your application is processed. Thus, filing a timely application is important. If you are eligible for a lump sum distribution of a portion or all of your Individual Account, the Trust Fund Office will determine your liquidation date and work with the Plan s Custodial Bank on the issuance of your benefit check. In most instances, your benefit check will be issued within 30 days of the Plan s receipt of your completed pension application. If, however, you have a pending divorce, or you have not obtained a required spousal consent or otherwise fully completed the application and provided the necessary documentation (such as to confirm a disability), there would be delays in processing your distribution. You can receive the money in your Account at any of the following times, provided you are vested in the Plan: A. At Normal Retirement Age 65: The Plan s Normal Retirement Date is age 65; however, you are considered to be retired when you reach age 65 and work less than 40 hours per month in the electrical construction industry in Orange County. B. Early Retirement Age 55 When you stop working as an Electrician: When you reach age 55 you may apply for payment of your Individual Account balance if you are no longer working as an electrician. For this purpose, you will be considered to be working as an electrician if you are employed or are working in the Electrical Construction Industry in California. Page 6

Electrical Construction Industry Defined The term Electrical Construction Industry means all branches of the Electrical Industry. This includes working as a supervisor, estimator, salesman, consultant, or self-employed in any branch of the Electrical Construction Industry, or any other work involving any Electrical Knowledge you have acquired as a Participant. Such work, known as Prohibited Employment, includes but is not limited to (1) work in employment of the type performed by Employees covered by the Plan whether or not under a Collective Bargaining Agreement, also known as Covered Employment ; (2) work which requires directly or indirectly the use of the same skills used by Employees covered by the Plan on the date the Pension became effective; (3) work in employment for compensation or wages of any kind or for profit in the Electrical Construction Industry; (4) work for profit as an owner or partner in any business directly or indirectly connected with the Electrical Construction Industry; (5) work where you supervise Employees in the same trade or craft or directly or indirectly use the same skills as Employees covered by the Plan on the date you retire. Prohibited Employment is interpreted in the broadest manner It includes employment in which a salary is paid (which includes payment based on an hourly, daily, weekly, bi-weekly, by-monthly, monthly, annually or any other rate), work in which the Pensioner is considered an independent contractor work in which the Pension receives anything of value (or is to receive anything of value) in exchange for services rendered. C. If you become Permanently Disabled: Regardless of your age, if you are unable to continue work in the Electrical Construction Industry because of your permanent and total Disability you may apply for the funds in your Individual Account. You are considered to have a permanent disability only if you are entitled to Social Security Determination that you are totally and permanently disabled. D. If you Die: If you die prior to retirement, your Account will be distributed to your beneficiaries (see Question 17). If you die after retirement, benefits will be paid in accordance with the benefit option you selected when you retired. Please note that except for death or disability or your Individual Account is $5,000 or less, no distributions are allowed before you attain age 55. Page 7

E. At Age 70-1/2: Your Account must begin to be distributed to you by April 1 of the calendar year after you attain age 70-1/2, unless you elect to keep working in Covered Employment. Under the Internal Revenue Code, the Plan must commence paying your benefits no later than April 1 following the year in which you attain age 70½ or the date you retire, whichever is later. This is known as your Required Minimum Distribution or "RMD. Although you may take your first RMD by the end of the calendar year in which you turn 70-1/2, you can delay taking that first distribution until April 1 of the year following the year in which you turn 70-1/2. If you wait, you will have to take two distributions in that same year (the second one by December 31). Consequently, you may want to compare the advantage of leaving the money in your account for as long as possible with the tax consequences of taking two distributions in one year. All subsequent RMDs must be taken by December 31 of each year. Your RMD is calculated each year according to IRS guidelines. If you take only your RMD, the remaining part of your Individual Account balance can remain in the Plan and continue to be tax-deferred. You can take more than the minimum. Not taking the RMD, however, will result in a significant penalty. If you own five percent or more of a contributing Employer, the Plan will be required by IRS rules to commence paying your benefit at age 70-1/2 even if you are still working. 11. What amount do I receive when I request my Individual Account? Due to the fluctuation in the yield on the Plan s investments and the uncertainty of future Employer contributions, the exact amount you will receive in the future when you desire a distribution of your Individual Account cannot be determined now. The amount you receive will be calculated as follows: The sum of all the contributions made on your behalf, plus All actual investment earnings credited to your Account, plus or minus Changes in the value of the fund s investment, minus Your share of the expenses of operating the Fund. A statement will be sent to you at least annually showing the balance of your Individual Account including the contributions; expenses and investment yield during the Plan Year. 12. How will my Account be distributed? A. Joint and 50% Survivor Annuity. The federal pension law requires that If a Participant is married on his retirement date, and he and his spouse do not elect otherwise, his Individual Account will be payable in the form of a Joint and 50% Survivor Annuity unless his account balance is $5,000.00 or less. Page 8

The Joint and Survivor Annuity extends protection over two lifetimes. The monthly pension payable to you and your spouse under the Joint and Survivor Annuity is based on the life expectancy of you and your spouse. Thus, benefit levels are reduced accordingly. During your lifetime, you will receive monthly benefits at a lower level than you would with the Life Annuity form. Moreover, if your spouse is much younger than you, benefits will be reduced more than if you were close to the same age or if your spouse is older than you. The reason is that, statistically speaking (based on actuarial tables), the younger spouse is likely to receive benefits over a longer period of time. To obtain an estimate of the amounts, please contact the Plan Office. Under the Joint and Survivor Annuity, monthly payments will be made to the Participant as long as he survives. If, at his death, his spouse survives him, monthly payments will continue to his spouse during her remaining lifetime in an amount equal to 50% of the monthly amount payable to the Annuitant under the Automatic Joint and Survivor Annuity. The Plan would purchase an annuity from an insurance company or other entity to provide such benefits. Monthly payments made directly from the Plan will terminate when your Individual Account reaches zero even if you live longer than the age projected under the life expectancy tables. With the consent of your lawful spouse you may, however, waive the Joint and Survivor annuity and select one of the benefit options described in Section D below: 1. Spousal Waiver/Beneficiary Designation. A married Participant and spouse s election not to select the Joint and Survivor Annuity is effective only if your lawful spouse consents to such election, such consent is witnessed by a Plan representative or notary public, a beneficiary is designated with the spouse s consent, and the form of payment to the beneficiary is also stated. You are not allowed to designate a beneficiary other than your lawful spouse to receive your account without your spouse s written consent on the forms furnished b the Plan. If you subsequently desire to revoke such beneficiary designation and to choose another non-spouse beneficiary, your lawful spouse must consent to such revocation and alternative beneficiary selection. 2. Election Period. Your completed application for payment of your Individual Account should be submitted to the Fund Office at least 180 days before your anticipated retirement date or other proposed date for withdrawal of your Individual Account. You and your spouse, if you are married, have that much time to make your benefit option decision. B. Important Facts about the Joint and Survivor Annuity 1. Irrevocable Once Payments Commence. If you elect a Joint and Survivor Annuity, you may not withdraw or change such coverage after your first pension payment has been made. Page 9

2. Later Divorce Has No Effect. If you retire on a Joint and Survivor Annuity and subsequently divorce your spouse, your pension will not be increased to the level you would have received had this coverage not been provided. In most instances your former spouse will continue to be entitled to her portion of your pension. Moreover, if you subsequently remarry, you may not transfer your spouse coverage to your new spouse. 3. Mandatory Lump Sum Payment Small Balances. Notwithstanding the Joint and Survivor Annuity rules above, if your Individual Account Balance is $5,000 or less and you are entitled to a distribution, such amount will be distributed in a lump sum regardless of your desires. Pursuant to federal law, no spousal consent is required for such a distribution. C. Normal Form of Benefit Single Participant The normal form of benefit for a single Participant is a life annuity. A life annuity is a series of monthly pension payments to extend for the balance of your life. If you choose this option the Plan may purchase an annuity from an insurance company or other entity at the then current market rates or otherwise provide you with such a benefit. This benefit is payable to the Participant for his/her lifetime only. D. Benefit Options You may elect to have your account paid to you either in a lump sum, installments or through the purchase of an annuity from an insurance company of your choice. 1. Lump Sum/Rollover. You may be entitled to a Direct Rollover of all or a portion of the balance of your Account to an Eligible Retirement Plan or an Individual Retirement Account (IRA). You may contact the Fund Office for information concerning your Rollover rights. See also Question 18B below. You cannot, however, rollover a distribution made (1) in a series of equal (or almost equal) periodic payments for your life or the joint lies of you and your Spouse and other Beneficiary, or (2) as a required minimum payment beginning on April 1 of the year after the year during which you reach age 70-1/2 (or thereafter). Thus, you may not rollover your monthly Pension received under a Joint and 50% Survivor Annuity or a Life Annuity. There may be other benefits that may not be rolled over. 2. Installments: Two-Ten Years. Annual installments over a period of not less than two not more than ten years. The amount of any particular installment to be determined by the value of the Participant's Individual Account on the Valuation Date preceding the distribution divided by the number of installments remaining to be paid. The periodic amount you choose may not create an annuity period that will exceed your life expectancy or that joint life expectancies of you and a designated beneficiary. Page 10

If the Participant's death occurs before all installments have been paid, the remaining installments will be paid to the Participant's Beneficiary. If there is no designated beneficiary or none have survived, the benefits are payable to the Participant's spouse; if none in equal shares to the surviving children, if none to the Participant's estate. 3. Partial Lump Sum Followed by Fixed Periodic Payments. A partial lump sum distribution followed by fixed period payments as set forth in subsection (2) above. 4. Optional Annual Adjustment of Monthly Payment. A Participant receiving monthly retirement benefits from the Plan may, once in a twelve-month period, request a change in the amount of monthly benefits to be received, subject to applicable Internal Revenue Code distribution requirements or other applicable law. Such adjustment includes without limitation changing such payments to zero, subject to Internal Revenue Code distribution requirements. 5. Joint and 75% Survivor Annuity. As of January 1, 2009, you may also select a joint and 75% Survivor Annuity which is similar to the 50% survivor annuity except your spouse will be entitled to a greater benefit (75%) upon you death; however, during your lifetime your benefit will be reduced even more. Encourage Electronic Deposit of Pension Payments If you are receiving monthly payments the Plan Office strongly recommends that you have your monthly benefit directly deposited electronically into an account at a bank, savings and loan, credit union, or other financial institution to increase efficiency and to reduce the possibility of theft. You must complete the Trust Fund Office form and return it to the Trust Fund Office to identify the financial institution which will receive your electronic deposit. E. Required Distribution Based on Internal Revenue Code requirements, the Plan must commence paying your benefits no later than the April 1 following the calendar year in which you attain age 70-1/2, unless you continue working. A Participant who refuses to accept payment of benefits when he becomes entitled hereto is presumed to have elected to defer payments until age 70-1/2. If a married Participant attains age 70-1/2 but refuses to file a pension application, the Plan may determine that the Participant will be deemed to have elected a Joint and 50% Survivor Annuity. In determining such benefit, the Participant s spouse will be deemed to be five years younger than the Participant. (If the Plan is uncertain whether a Participant is married, it will presume that the Participant is married.) If the Plan subsequently learns that the spouse is younger, the Plan will be allowed to make any appropriate adjustment, including a reduction Page 11

in benefits. The Plan has the discretion to commence making any such payments directly from the Plan, and later to purchase an annuity. F. Internal Revenue Code Distribution Rules Upon Your Death The Plan is required under the Internal Revenue Code to contain certain additional benefit distribution rules pertaining to what happens if you die. For example, if you die after payment of your Individual Account has commenced and a portion of your Individual Account remains to be paid, payment to your beneficiary must be distributed at least as rapidly as provided in the form of payment to you at the time of your death. If you die before distribution of your Individual Account has begun, distribution of your Individual Account must be completed by December 31 of the calendar year containing the fifth anniversary of your death. If, however, your benefits are payable to a designated beneficiary, the distribution may be made over the life (or life expectancy) of your designated beneficiary, but payments must commence on or before December 31 of the year immediately following the year in which you die. If, however, your spouse is the beneficiary, he or she does not have to commence receiving benefits until April 1 following the year you would have attained age 70-1/2. 13. Do I have to pay tax on the money in my Individual Account? That depends. The amount credited to your individual Account is not considered taxable income to you until you actually receive the money. When you are paid the money in your Individual Account, it is taxable income. When you request a distribution, you could be dealing with substantial amounts of money. If you choose a lump-sum payment of your Account, the amount paid is subject to a mandatory 20% withholding for taxes, unless the money paid is from the Fund directly to another qualified Plan or IRA. It is therefore very important that you discuss with a competent tax advisor the manner in which you should take the money from your Individual Account. There may be serious tax consequences concerning the way these payments are made to you A. Tax Withholding Rules On Monthly Benefit Payments. As required by law, Federal income taxes will be withheld from your monthly benefit payments unless you reject it or elect otherwise by filing the appropriate form with the Trust Fund Office. You may also elect to have state tax withholding taken out of your monthly payments. You may want to consult with a tax advisor to discuss your payment and withholding options. Page 12

WARNING REGARDING INSUFFICIENT TAX WITHHOLDING The federal tax withholding on your defined contribution pension payment may be insufficient to meet your tax obligations, particularly if you take a large partial or total distribution from the Plan. The Plan distribution, which may have the effect of increasing your taxable income, may, in many instances, place you in a higher tax bracket requiring a tax payment of much more than the 20% tax withholding by the Plan (plus there may be a greater state tax). B. Rollovers and Tax Withholding Rules The rollover rules apply only when you are entitled to receive your benefits. If you are eligible to receive your benefits in a lump sum or in periodic payments of less than ten years, your distribution qualifies for rollover treatment and can be taken in two ways. You may have all or any portion of your pension either 1) paid in a DIRECT ROLLOVER Or 2) paid to you. A rollover is a payment of your Plan benefits to a traditional individual retirement arrangement (IRA) or to another qualified Employer plan. A traditional IRA does not include a Roth IRA, Simple IRA, or a Coverdell Education savings Account (formally known as an Education IRA ). A qualified Employer Plan includes a plan qualified under section 401(a) of the Internal Revenue Code, including a 401(k) plan, profit sharing plan, defined benefit pension plan, stock bonus plan, and a money purchase pension plan; a Section 403(a) annuity plan; a Section 403(b) tax-sheltered annuity; and an eligible Section 457(b) plan maintained by a government Employer. Required distributions such as when you attain age 70-1/2 or retire, whichever is later, cannot be rolled over pursuant to Internal Revenue Code requirements. Spouses and other beneficiaries may also roll over distributions from the Plan in limited situations subject to the Internal Revenue Code and applicable IRS regulations and guidelines. For a non-spouse beneficiary, a rollover distribution from the Plan must be made directly to an individual retirement account or individual retirement annuity, which should be established and treated for minimum distribution purposes as an inherited IRA. A non-spouse beneficiary cannot roll over a direct distribution made after your death; only a direct transfer to an IRA treated as an inherited IRA is allowed, Page 13

The choice you make will affect the tax you owe, as follows: 1. Direct Rollover. If you choose a DIRECT ROLLOVER Your Payment will not be taxed in the current year and no income tax will be withheld. Your payment from the Plan must be made directly to your traditional IRA or if you choose, to another qualified Employer plan that accepts your rollovers. A traditional IRA does not include a Roth IRA, Simple IRA or Coverdell Education Savings Account. But, your payment will be taxed later when you take it out of the IRA or Employer plan. Depending on the type of plan, the later distribution may be subject to different tax treatment than it would if received from this Plan. 2. Benefits Paid Directly to You. If you choose to have your Plan benefits PAID TO YOU You will receive only 80% of the payment, because the Trust Fund Office is required by law to withhold 20% of the payment and send it to the IRS as income tax withholding to be credited against your taxes. (This is so even if you decide to roll over your pension distribution within 60 days of your receipt of it.) Your payment will be taxed in the current year unless you roll it over. You may be able to use special tax rules that could reduce the tax you owe. If, however, you receive the payment before the Plan s early retirement age of 55, you may also have to pay an additional 10% tax. You can roll over all or part of your payment to your traditional IRA or to another eligible Employer plan that accepts your rollover within 60 days after you receive the payment. The amount rolled over will not be taxed until you take it out of the traditional IRA or the eligible Employer plan. If you want to roll over 100% of the payment to a traditional IRA or an eligible Employer plan, you must find other money to replace the 20% that was withheld. If you roll over only the 80% that you received, you will be taxed on the 20% that was withheld and that is not rolled over. DISTRIBUTIONS NOT ELIGIBLE FOR ROLLOVER. You cannot roll over a distribution made (1) in a series of equal (or substantially equal) periodic payments for your life or the joint lives of you and your spouse or other beneficiary, or (2) as a required minimum payment beginning on the April 1 st of the year after the year during which you reach age 70-1/2 (or thereafter). Thus, you may not roll over your monthly payments received under a Joint and 50% or 75% Survivor Annuity or a Life Annuity. Nor may a Pre-retirement Survivor Page 14

Annuity paid to your surviving Spouse be rolled over. There may be other benefits that may not be rolled over. You may want to consult with a tax advisor. WARNING POTENTIAL ADVERSE TAX CONSEQUENCES (Pre-age 55 Distributions) Under the Internal Revenue Code, if you begin receiving your benefits from the Plan before age 55, to avoid paying a penalty to the Internal Revenue Service (and the State of California, if applicable or possibly other states), your defined contribution pension payments will have to be paid in a series of substantially equal periodic payments over your lifetime or the joint lives of you and a beneficiary, unless you meet the definition of disability or other exceptions in the code, or you roll over the benefits to an IRA or other qualified Employer pension plan. 14. How do I designate a beneficiary for my Account? You make your beneficiary designation on a form provided by the Trust Fund Office. If you are married and you die before retirement and withdrawal of your funds, your Individual Account will be paid to your spouse unless the spouse has provided written consent to an alternate beneficiary designation on the Plan s required form. Any amount payable to your spouse will be used to purchase an annuity for the spouse (known as a preretirement survivor annuity) unless the spouse elects a lump sum or installments. Beneficiary forms and elections can be changed at any time, provided all necessary spousal consents are obtained. If you and your spouse cease to be married, any prior designation of your spouse as beneficiary will automatically be deemed revoked. Thus, you should immediately file a new beneficiary form if you divorce. Non-spouse beneficiaries will receive a lump sum distribution upon your death. If no beneficiary form is on file, payment of your Account will be made in the following order of priority: 1. To your surviving spouse, if any; if none 2. To your surviving children, in equal shares; if none 3. To your estate. Page 15

ALERT: Divorce Invalidates Beneficiary Designation If you divorce, any previous designation of your former spouse as a beneficiary prior to your retirement is automatically revoked and is no longer valid. Thus, when your divorce is final, you should immediately submit a new completed beneficiary form to the Trust Fund Office. SECOND ALERT: Marriage Invalidates Beneficiary Designation If you marry, any previous designation of a beneficiary other than your new spouse prior to your retirement is automatically revoked and is invalid. Thus, upon becoming married, you should immediately submit a new beneficiary form to the Trust Fund Office (subject to the Plan's spousal consent requirements). 15. How do I or my beneficiary apply for benefits? To receive your Plan benefits, you must file an application with the Trust Fund Office. All claims for benefits should be filed on Plan forms, which are available from the Trust Fund Office. Pensioners and Beneficiaries may have their monthly benefit directly deposited electronically into an account at a bank, savings and loan, credit union, or other financial institution. You must complete the form and return it to the Fund Office to indicate the bank or other financial institution to receive your electronic deposit. Page 16

ALERT IMPACT OF DIVORCE Unresolved disputes as part of a divorce action that affect your pension benefits may delay payment of your pension. If the Plan is notified of a pending divorce or receives a court pleading known as a Joinder re Request (or a similar document), the Plan has the discretion to delay paying your benefits for a reasonable period to allow time for the parties to prepare a Qualified Domestic Relations Order ( QDRO ) even if your pension application is on file. If it appears that your former spouse or other alternate payee is seeking only a portion of your pension or there are delays in processing the QDRO, the Plan may, at its discretion, distribute to you that portion of your pension that is not addressed by the pending QDRO. (See question 23 below for more information on this subject.) 16. May I Borrow from the Plan? The Plan permits creditworthy Participants to borrow against their Individual Account with the Plan; however, in compliance with Internal Revenue Service rules and limitations, the amount of your loan and the repayment period are limited. The permitted amount is limited to the lesser of: (1) half of your account balance; or (2) $50,000 (less any payments you have made on other Plan Loans in the past twelve months). If the purpose of your loan is the acquisition of your principal residence, the repayment period may be up to 30 years, but in all other situations, your loan must be repaid in five years. You are required to use your Plan account as security for your loan, and if you are married, under Federal Law, you must have your spouse s consent to obtain a loan. If you default, you cannot get another Plan loan. To request an application for a Plan Loan, contact the Trust Fund Office. The minimum loan amount is $1,000.00. A. Purpose of Loans. Loans may be made for the following purposes only: 1. unreimbursed medical, dental or legal expenses; 2. acquisition of Participant s primary residence; 3. home improvement loan on Participant s primary residence; 4. prevention of foreclosure on Participant s primary residence; 5. automobile loan for Participant or a member of the Participant s immediate family; or 6. payment of books, tuition and related educational expenses of Participant or a member of Participant s immediate family. WARNING REGARDING PARTICIPANT LOAN PROGRAM Page 17

The Internal Revenue Service has established strict guidelines for Participant Loans that must be followed. For example, if too many Participants default on their Participant loans, the IRS could take the position that the Board of Trustees is not properly administering the Loan Program and that the Plan is not being run, as intended, as a retirement program. Thus, the Board of Trustees reserves the right to terminate the Participant loan program at any time or to cease making any new loans. B. Basis on which Loans will be Approved or Denied. You will have your loan application reviewed in a similar manner and under similar conditions as loan applicants would at a bank or similar lending institution. Factors considered include but are not limited to your income, assets, outstanding loans or other debt, your past repayment record on loan payments and credit reports. If you are in a bankruptcy action, federal bankruptcy regulations have to be followed before you incur new debt. If your loan request is denied, you may file a written appeal with the Board of Trustees. Pursuant to the Internal Revenue Code and lawful regulations issued thereunder, in determining whether the Plan has complied with the maximum dollar amount permitted for a loan under the Code, the Plan will consider any principal loan amounts that were outstanding on the date of the loan or at any time during the immediately preceding 12-month period. C. Interest Rate. The Plan s interest rate is the prime rate plus 1% at the time of your loan application. The interest rate is fixed at the inception of the loan and remains constant thereafter. D. Default/Additional Taxes. Pursuant to applicable Internal Revenue Service regulations, a cure period for a delinquent loan cannot extend beyond the last day of the calendar quarter following the calendar quarter in which the missed payment was due. Accordingly, under the Plan, your loan will be in default if you are 90 days late on a payment. Upon a default, the Plan will charge your Individual Account with the loan balance, including any costs incurred relating to the loan default. If you default on your Plan loan, you will owe income taxes on the distribution. As required by applicable law, the Trust Fund Office automatically reports your distribution to the IRS and state tax authorities at the end of the year (on IRS Form 1099R). If you are under age 55, you will owe an additional federal tax of 10%, and a state tax of 2-1/2% (in California). In addition, you may owe a penalty for failing to have sufficient taxes withheld. If you are unable to timely pay these taxes you may also be liable for penalties and interest. Page 18

PREVIOUS DEFAULT: IRS STRICT REQUIREMENTS In addition, if you previously defaulted on a Participant loan from the Plan, the Plan is required under the IRS rules to reduce the amount available for a loan by any previously defaulted amount plus accrued interest since the date of the default. As a result, you may not be eligible for a loan if you previously defaulted (because the prior amount of unpaid principal and accrued interest may exceed the amount of any available loan). Pursuant to IRS requirements, the Credit Union will also be required to request additional collateral if you do qualify for another loan. E. Pension Loss if You Default. Once your loan is declared a distribution, the unpaid balance is lost as a pension benefit. You may not repay a defaulted loan later to restore your Plan account. This also will result in the loss of the future income on your Plan account and the tax savings that you would have earned under the Plan for the defaulted amount of the loan. Pursuant to Internal Revenue Code regulations, the Plan will require additional collateral other than just the Participant s Individual Account balance if the Participant previously defaulted on a Participant loan from the Plan. F. Military Service. Your loan payments may be excused (payments postponed) and the interest rate adjusted during certain military service to the extent required by federal law. Pursuant to applicable Internal Revenue Service regulations, loan payments for a Participant who is absent from Covered Employment due to certain military service may be suspended during the term of the military service. After the Participant returns from military service, the repayment period may be extended by the length of the period of military service. To the extent required by applicable federal law and regulations, the interest rate during the term of the Participant s military leave shall not exceed the interest rate permitted by the Soldiers and Sailors Civil Relief Act Amendments of 1942. The intent of this section is to comply with the minimum requirements of federal law and regulations and to provide no additional rights or benefits under this section. G. Changes. The terms and conditions of the Plan's Participant loan program as set forth herein may be changed by the Board of Trustees at any time without a formal Plan amendment. 17. What is the procedure to follow if my application is denied? A. Claims and Appeal Procedure. The Plan, which is available for review by appointment at the Trust Fund Office, contains a claims and appeal procedure that must be followed. Be sure to read the claims procedure carefully before filing a claim or a lawsuit may be brought unless the Plan s appeal procedures are followed first. (See Section E below for the time allowed for filing lawsuits). The purpose of the claims procedure is to make it possible for claims and disputes to be resolved fairly and efficiently without necessitating costly litigation and attorneys fees. The Page 19

Plan specifically states that no lawsuit may be brought unless the Plan s appeal procedures are followed first. (See Section E below for the time allowed for filing lawsuits). B. Claim Denial. If your claim is wholly or partially denied the Trust Fund Office will provide you with a written Notice of Claim Denial, containing the following: 1. The reason or reasons for the denial. 2. A description of any additional material or information, which may be necessary for a review. 3. Information as to how to submit your claim for further review. You may request a review of the claim denial, also known as an appeal, by filing a written application or such review within 60 days after receipt of the written notification of the denial. C. Appeal of Claim Denial. To have your claim reviewed, however you must file with the Fund Office a written appeal within 60 days of your receipt of the Board s initial denial of your claim. Your appeal must state the specific reasons the denial of the claim was in error. If you fail to submit your appeal in the 60-dy period you lose your right to pursue the matter. If you do appeal, you may submit supporting documents or records, and you may examine records pertinent to your dispute, which are I the possession of the Plan. A review of your appeal will be held and a decision rendered by the Board of Trustees y the next regularly scheduled trust meeting, unless the appeal is received within thirty days of such meeting or special circumstances exist requiring additional time. You may request or you ay be requested by the board of Trustees to appear at a hearing on your appeal. The Trustees, however, have the sole discretion whether to hold a hearing and whether or allow you to appear at such a hearing. The Board of Trustees have full authority and discretion to construe, interpret and apply all provisions of the Plan and to determine all questions that may arise, including all questions relating to your eligibility to participate in the Plan, the amount of any benefit to which you or an Alternate Payee, Beneficiary or spouse may become entitled hereunder and to determine all appeals subsequent to any determination upon application for benefits. Specifically, the Board of Trustees shall have full and complete authority and discretion to make any determinations or findings of facts regarding any claims and appeals of any benefit determinations. The decision on review will be in writing and, if your appeal is denied, will include specific reasons(s) for the denial. Upon exhausting these procedures, if you are still not satisfied, you may file a lawsuit. Lawsuits must be filed within two years of any such denial on appeal or any other adverse determination under the Plan. D. Disability Claims and Appeals. Appeals involving disability claims and/or determinations are required to be reviewed within 45 days of the Plan s receipt of the appeal unless special circumstances exist. An extension of time not exceeding 30 days may be necessary due to matters beyond the control of the Plan. Page 20

The notice of extension will include, in addition to the reasons for the denial, the standards on which entitlement to the benefit is based; the unresolved issues that prevent a decision on the claim and the additional information needed to resolve those issues. The Claimant would have at least forty-five (45) days to provide the specified information, if any. The deadline for the Trustees to render its decision is tolled from the date on which the notification of the extension is sent to the Claimant until the date a response from the Claimant is received. Any notice of an adverse benefit determination shall include, in addition to the reasons for the denial, (1) the specific rule, guideline, protocol, or other similar criterion, if any, relied upon in making the determination; and (2) an explanation of the scientific or clinical judgment for the determination if the adverse benefit determination was based on medical necessity or other similar exclusion or limitation. If the application for benefits of a claim is denied, the Claimant or the Claimant s duly authorized representative may petition the Trustees for review of the decision. The petition for review shall be filed by the Claimant or the Claimant s duly authorized representative with the Plan Office within one hundred and eighty (180) days of receipt of the notification of adverse benefit determination. The Claimant shall have access to relevant documents, records and other pertinent information, including any statement of policy or guidance with respect to the Plan concerning the denied treatment option or benefit for the Claimant s diagnosis, without regard to whether such advice or statement was relied upon in making the benefit determination. If the adverse benefit determination is based in whole or in part on a medical judgment, the Trustees shall consult wit a health care professional with appropriate training and experience in the field of medicine involved in the medical judgment. Such consultant shall be different from any individual consulted in connection with the initial determination nor the subordinate of any such person. The Claimant shall be notified of the decision of the Trustees in writing. Any notice of adverse benefit determination shall include, in addition to the reasons for the denial, (1) the specific rule, guideline, protocol, or other similar criterion, if any, relied upon in making the determination; and (2) an explanation of the scientific or clinical judgment for the determination if the adverse benefit determination was based on medical necessity or other similar exclusion or limitation. F. Two Year Limitation Period for Filing Lawsuits. Upon exhausting the above claims and appeal procedures, if you are still not satisfied, your next step is to file a lawsuit if you so desire. No legal action may be commenced or maintained against the Plan, a Trustee, the Board of trustees, or other persons or entities involved with the denial or decision on appeal more than two years after the Trustees determination of your appeal. Page 21

18. May I assign my Benefits? Neither you nor any Beneficiary can assign any of the benefits paid by the Plan. If you are or have been married, however, your benefits may be paid to your spouse or children pursuant to a qualified domestic relations order in a form that complies with applicable law. In addition, the Plan may be required to comply with an IRS lien on your Plan benefits. 19. What is a Qualified Domestic Relations Order? If you are divorced your former spouse may be entitled to a portion or your entire pension. The Plan is required by federal law to comply with a court order that awards a portion or all of your pension benefits to a former spouse, child or other alternate payee if the order qualifies as a Qualified Domestic Relations Order ( QDRO ) as defined in ERISA. A QDRO is a court order that creates or recognizes the existence of a former spouse s or child s (or other alternate payee s) right to receive all or a portion of your accumulated pension benefits. Benefit payments to a former spouse under a QDRO do not begin until the earliest date that the Participant would be eligible to receive a payment from the Plan (if permitted by the QDRO). When you file your Pension application, you are required to provide the Plan Office with information on any pending or prior divorce action (even old divorce orders). This includes a Final and/or Interlocutory Judgment, marital settlement agreement and any related documents. You, your spouse or former spouse may request the Plan s procedures for handling domestic relations orders which includes a sample order containing language acceptable to the Plan. You or your attorney (or your spouse or his or her attorney) should submit a proposed QDRO to the Plan s legal counsel prior to submission to a court. Counsel will then provide notice of any required changes. 20. Are Plan Documents available to Participants and Beneficiaries? Yes. Copies of the Trustee Agreement, Plan, any Plan Amendments and a summary of the Plan Amendments, and a summary of the annual report are available at the Fund Office during regular business hours and upon written request will be furnished by mail. You may also set an appointment to review these documents at the Fund Office. A copy of your collective bargaining agreement and a full annual report (Form 5500) are also available upon written request. This explanation of the Retirement Plan is only a brief and very general statement of the most important provisions of the Retirement Plan. No general summary such as this can Page 22

adequately reflect all the details of the Plan. Nothing in this summary is meant to interpret or extend or change in any way the provisions expressed in the Plan itself. The rights of a Participant or Beneficiary can only be determined by consulting the actual text of the Retirement Plan. 21. Who runs the Plan? A Board of Trustees consisting of up to ten (10) Trustees administers the Plan. Up to five (5) Trustees called Employer trustees are selected by the N.E.C.A, Orange County Chapter, and up to five (5) Trustees, called Union Trustees, are selected by IBEW Local 441. The current Trustees are listed on page x of this booklet. The Trustees have many powers and functions including, among others, adopting lawful rules or regulations to guide them in administering the Plan, interpreting Plan provisions and rules, amending the Plan, deciding policy questions, investing and safeguarding Plan assets and appointing advisors, consultants and professionals, such as an auditor, legal counsel and investment managers. The trustees have delegated the day-to-day administration of the plan to Welfare and Pension Administration Services, Inc., a professional plan manager. The Trustees have contracted with several Investment Managers, which have the duty to prudently invest your Pension Fund. The Board of Trustees has the discretionary authority to determine benefit claims and appeals, to construe the terms of the Plan, any amendments, and to make all other decisions relating to the Plan and Plan Participants. Your individual Account is pooled with amounts in other Individual Accounts for investment purposes. The Investment Managers provide the Trustees with periodic reports setting forth the Plan s assets and investment earnings or losses. A certified public accountant audits the Plan s assets annually as of the last day of each Plan Year. 22. What Contributions are made and what is the Process for Such Contributions? Employer contributions are made on your behalf to the Trust for this Plan pursuant to collective bargaining agreements with IBEW Local 441 or through subscription agreements with the Plan. Contribution rates of each hour of your employment are set, from time to time, by the parties to the collective bargaining agreements. Your Employer is required to contribute only for such hours of work that are required by the collective bargaining agreement. The bargaining agreements provide for different rates of contributions to the Plan depending on your classification of employment, which is based on industry seniority. The Union Office has information on these classifications. There is no minimum age for participation, as your Employer must contribute to this Plan for all your hours of employment as long as you are employed and covered by the bargaining agreement. (The Plan does not permit employee contributions.) Page 23

Your Employer is required to make contributions for your hours of work by the 20 th day of the month succeeding the month in which your hours of work were performed. Your Employer forwards a transmittal form that contains the names, Social Security number, and hours of work performed by each covered employee together with a check made payable to the Trust to the Trust Fund Office. The Trust Fund Office credits your Individual Account with the amount of contributions made by your Employer for allocation to your Individual Account. The Trust Fund Office checks the Employer s report for mathematical accuracy and notifies the Employer if there is an error in the Employer s computations, which requires correction. Any checks from Employers are transmitted to the custodial bank, which allocates sums contributed to the Pension Plan bank account. Each month the Trust Fund Office makes the necessary computer entries reflecting the contributions made on your behalf. You may obtain a list of contributing Employers, their addresses and a copy of your collective bargaining agreement upon written request to the Trust Fund Office. 23. Are Overpayments Recoverable by the Plan? As a Participant or beneficiary, you are entitled only to the amount and form of benefits described in the Plan document, as amended from time to time. If you are receiving an improper amount or benefit from the Plan and you become aware of that fact, the Plan requires that you notify the Plan Office of the overpayment. If you or any beneficiary receives an overpayment of benefits, the Plan will reduce or offset any future benefits to recover the overpayment, unless other arrangement can be made to the satisfaction of the Board of Trustees for the recovery of the overpayment. The Plan will withhold at least 25% of your pension payments until the overpayment is recovered by the Plan and to the extent permitted by law, the Plan may withhold up to 100% of your monthly payments until an overpayment is recouped. The Plan is also authorized to offset lost earnings on the overpayments and reimbursement to the Plan for any attorney fees and costs incurred by the Plan as a result of the overpayment. The Plan may also file a claim against your estate or any other person or entity if amounts are still owed at your death and there are insufficient funds, including any death benefits payable to your beneficiary, to recover the overpayment. Any funds owed by a Participant to the Plan will be deducted from any death benefits that may be payable as a result of the Participant s death. 24. How could I lose money in the Plan? You or your beneficiary could suffer a loss in the value of your Individual Account balance or have payments delayed in at least the following circumstances: A. Investment Losses. Your Individual Account balance could decrease if the Plan incurs investment losses, such as the depreciation in the market value of Plan assets. Page 24

B. Plan Expenses. Plan expenses will decrease the amount of the return you would otherwise earn on your Plan assets. You will incur a loss if your share of Plan expenses exceeds your contributions and earnings in a Plan year. Moreover, if your Individual account has no activity for two consecutive Plan Years (other than the posting of earnings and expenses) and the account balance is $100.00 or less, your account could terminate and the proceeds used to pay Plan expenses. C. Prohibited Employment. If you engage in prohibited employment in the Electrical Construction Industry after retirement, your benefits will be suspended. D. Incomplete Application. Your benefits will not be paid if you fail to file a completed Application or other forms required by the Fund Office. E. Inaccurate Information. If you fail to provide information or give false information verify disability, age, beneficiary information, or other vital information, there would be a delay in the payment of your benefits. If you make a false statement to the Plan or other officials regarding the payment of Benefits or other issues related to the Plan, you will be liable to the Plan for any benefits paid in reliance on such false statements or information, and any attorney fees and costs incurred in effecting recovery or which were incurred as a result of the false statement or information. This includes but is not limited to costs incurred by the Fund Office, reasonable attorney fees, and interest charges. The Plan may deduct any such fees and costs form any benefits otherwise payable to you or other persons. F. Divorce a Child Support Order. All or a portion of your Individual Account could be assigned by a Qualified Domestic Relations Order (QDRO) to your spouse, a former spouse or for support of your children or other lawful dependent. G. Disappear. If you are eligible to receive your benefit and you disappear for five years and the Trust Fund Office is unable to locate you despite reasonable efforts and neither you nor any beneficiary submits an application for benefits, you Account will be terminated. H. Benefit/Contribution Limits. The annual Employer Contribution made on your behalf cannot exceed the maximum amount allowed by the Internal Revenue Code and applicable regulations. Although the Board of Trustees does not foresee this occurring, the Plan contains provisions to address this situation. I. Default on a Participant Loan. If you default on a Participant loan you will lose your entitlement to such defaulted amount, be required to pay state and federal income tax on the defaulted amount, and you will be assessed a penalty by the IRS. J. Refund Overpayments. If the Plan mistakenly makes an overpayment to you or your beneficiary you (and/or your beneficiary) will be required to reimburse the Page 25

Plan. If the Plan is forced to incur legal fees and costs to recover said amounts you and/or your beneficiary will be responsible for such fees and costs. K. Time Lag in Distribution. Because there might be a time lag between the time you request a distribution of your Plan benefits, there might be a difference in the fair market value at the time you ask for the distribution and when you receive the distribution. L. Employer Delinquencies. If you fail to make contributions to the Plan on your behalf for your Covered Employment, you may lose benefits to which you would otherwise be entitled. In addition, pursuant to Internal Revenue Service requirements, certain Employer delinquencies are considered Plan expenses to be shared by all Plan Participants. Thus, if there are serious delinquencies by a contributing Employer which the Board of Trustees has determined are not recoverable, the Plan s expenses could increase, resulting in a decrease in the value of your Individual Account even though you do not work (or have not worked) for the particular delinquent Employer(s). 25. Can the Plan be Amended or Terminated? A. Amendment of Plan The Board of Trustees may amend or modify the plan at any time. Any Amendment may apply to all groups and/or Participants covered by the Plan or only to certain groups of Participants. Retroactive amendments may be made to the extent permissible under ERISA and other applicable law. No amendment or modification may reduce benefits which have been approved for payment prior to amendment, so long as funds are available for payment of such benefits. B. Termination of the Plan The parties to the Collective Bargaining Agreement may terminate the Plan in whole or in part. Although there is no intent to terminate the Plan, there is no guarantee that the Plan will last forever. In the event of termination or partial termination of the Plan, the assets then remaining, after providing for the expenses of the Plan and for the payment of any Individual Account theretofore approved, could be distributed among Participants, and each Participant would be 100% vested in his or her Individual Accounts of all Participants. The Assets are not returned to an Employer. Once the Plan is terminated and all assets have been distributed, the Board of Trustees will be discharged from all liability under the Plan and Participants will have no further rights or claims. C. Merger or Consolidation Page 26

In the event of a merger or consolidation of the Plan with, or transfer in whole or in part, of the assets or liabilities of the Plan to any other pension plan, each Participant is Entitled to a benefit immediately after the merger, consolidation or transfer which is at least equal to the benefit such Participant would be entitled to before such merger, consolidation or transfer. INFORMATION REQUIRED BY ERISA 1. Name of the Plan. The name of the Plan is the Orange County Electrical Workers Defined Contribution Plan. 2. Type of Plan. The Plan is a defined contribution plan within the meaning of ERISA, which is not a plan covered by the plan termination insurance provision of the Act. 3. Plan Administration. The Board of Trustees composed of an equal number of Employee and Employer representatives administers the Plan. (Temporary vacancies could result in an unequal number of trustees.) Its name, address (which is the official Fund Office), telephone number, Employer Identification Number (EIN) and the Plan Number are as follows: Name: Address: Board of Trustees Orange County Electrical Workers Defined Contribution Pension Plan 1120 South Bascom Avenue San Jose, California 95128 Telephone: (408) 288-4400 EIN: 95-2076968 Plan Number: 001 4. Agent for Service of Legal Process. The agent for service of legal process is: Board of Trustees 1120 South Bascom Avenue San Jose, California 95128 The service of legal process may also be made upon a Plan Trustee or the Plan s legal counsel. 5. Collective Bargaining Agreements. The Plan is maintained in accordance with the Collective Bargaining Agreements between the Orange County Chapter, National Electrical Contractors Association and Local Union 441, Internal Brotherhood of Electrical Workers. There are also a few individual agreements. The Collective Bargaining Agreements provide for contributions by the Employers to the Trust Fund on an agreed upon cents-per-hour basis. Page 27

There are no employee contributions. The Fund Office will provide any Plan Participant or beneficiary, upon written request, information as to whether a particular Employer is contributing to this Fund with respect to the work of the Participants in the Fund and, if the Employer is a contributor, the Employer s address. 6. Fiscal Year. The Fiscal Year of the fund, also known as the Plan Year, was the twelve-month period ending each June 30. 7. Trustees. The names and business addresses of the current members of the Board of Trustees are: Employer Trustees Stephen E. Brown Orange County Chapter NECA 180 S. Anita Drive, Suite 103 Orange County, CA 92863 Peggy Brown Orange County Chapter NECA 180 S. Anita Drive, Suite 103 Orange County, CA 92863 Todd Perry Orange County Chapter NECA 180 S. Anita Drive, Suite 103 Orange County, CA 92863 Union Trustees Douglas Chappell IBEW Local 441 309 North Rampart, Suite M Orange, CA 92868 Rick Cruzen IBEW Local 441 309 North Rampart, Suite M Orange, CA 92868 Richard Samaniego IBEW Local 441 309 North Rampart, Suite M Orange, CA 92868 The day-to-day fund administration is performed for the Board of trustees by the Administrator listed on booklet back cover. This office is known as the Fund Office. The Board of Trustees also contracts with others including consultants, actuaries, attorneys and accountants. Plan benefits are provided directly from the Trust Fund. 8. Amendment and Termination. The Board of Trustees may amend the Plan at any time. The IBEW Local Union 441 and the Orange County Chapter of NECA may amend the Plan s Trust Agreement at any time. The Trust Agreement provides that the Trust may be terminated at any time by the mutual consent of IBEW Local Union 441 and the contributing Employers. Page 28

STATEMENT OF ERISA RIGHTS As Participants in the Plan you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Plan Participants shall be entitled to: Receive Information About Your Plan and Benefits Examine, without charge, at the Fund Office and at other specified locations such as the union hall, Plan Documents, including collective bargaining agreements and the latest annual report (Form 5500 Series) filed by the Plan with the Department of Labor. Copies of the documents including the Summary Plan description and certain other Plan information may also be obtained upon written request of the Fund Office. A reasonable charge may be made for copies. Receive a summary of the Plan annual financial report. The Board of Trustees is required by law to furnish each Participant with a copy of this summary annual report. Insofar as required by applicable government regulations, you may also obtain a statement indicating whether you have a right to receive an annuity at your Normal Retirement Date, if you stop working under the Plan now. If you do not have a right to an annuity, the statement will indicate how many more hours you have to work to get a right to an annuity. This statement must be requested in writing and is not required to be given more than once a year. Plan must provide the statement free of charge. Prudent Actions by Plan Fiduciaries In addition to creating rights of Plan Participants, ERISA imposes duties upon the people who are responsible for the operation of this Plan. The people who operate your Plan, called fiduciaries of the Plan, have a duty to do so prudently and in the interest of you and other Plan Participants and beneficiaries. No one, including your Employer, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a pension benefit or exercising your rights under ERISA. If your claim for benefits is denied, and you have the right to have the plan review and reconsider your claim, as described elsewhere in this booklet. If your claim for a pension benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. Enforce Your Rights. Page 29

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request certain materials required to be furnished by the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require that you be provided with the materials and be paid up to $110.00 a day until you receive them, unless the materials were not sent because of reasons beyond the Board s control. If you have a claim for benefits, which is denied or ignored in whole or in part, you may file a lawsuit. You have two years to file a lawsuit after your appeal was denied or an adverse action was taken against you. In addition, if you disagree with the Plan s decision or lack thereof concerning the qualified status of a domestic relations order or a medical child support order, you may file suit in Federal court. If it should happen that the Plan fiduciaries misuse the Plan s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor or you may file suit in a federal court. Under the Plan, you must file a lawsuit within two years after denial of your appeal. The court will decide who should pay the court costs and legal fees. If you are successful, the court may order the person who you sued to pay these costs and fees. If, for example, the court finds your claim is frivolous, it may order you to pay these costs and fees. Assistance With Your Questions If you have any questions about your Plan, you should contact the Trust Fund Office at 1120 South Bascom Avenue, P.O. Box 5057, San Jose, CA 95150-5057 (Phone: 408-288-4400). If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Employee Benefits Security Administration (EBSA), U.S. Department of Labor, listed in your telephone directory or: Office of Participant Assistant U.S. Department of Labor Employee Benefits Security Administration 200 Constitution Avenue NW Washington, D.C. 20210 You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the EBSA. For single copies of publications, contact the EBSA field office nearest you. You may find answers to your questions and a list of EBSA offices at http://www.dol.gov/ebsa/welcome.html. Page 30