Four types of pensions are provided under the Plan: Normal Pension, Early Retirement Pension, Disability Pension, and Deferred Vested Pension. In addition, the Plan provides for a lump sum Severance Benefit and Death benefits. Non-covered Masonry Employment may impact eligibility for these benefits.

During the Contribution Period, you earn Future Service Credits based on your work in Covered Employment in a job classification covered under an agreement requiring contributions to the IPF on your behalf. One year of credit is earned for each calendar year in which you work 1500 hours or more in covered employment. If you work less than 1500 hours in covered employment, partial credit is earned according to the following schedule:

After December 31, 1986 , the following future service schedule applies to hours worked:

Note: Effective January 1,1997 the 1.5 maximum on future service credit is removed. An additional .1 of a credit accrues for each 150 hours over 2,250 without limit.

Pension Credit is accumulated in two ways:

1. Future Service Credit is accumulated through Covered Employment with a signatory contributing employer during the Contribution Period, and

2. Past Service Credit is granted for eligible Covered Employment with a signatory employer before the Contribution Period.

The Contribution Period is the time during which employers contribute to the IPF on your behalf.

Participation is available to employees working in covered employment, which is employment in a job classification covered by a local collective bargaining agreement, which requires contribution to the IPF. Corporate officers who are employees of the corporation may also participate subject to the approval of the Trustees. Participation is also available to officers or employees of local unions or local union funds which participate in the IPF. Participation is not available to anyone engaged as a self-employed person, partner or sole proprietor.