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Sunday, April 5, 2020

IMPORTANT MESSAGE REGARDING NEW HARDSHIP DISTRIBUTION OPTION DUE TO COVID-19

The Board of Trustees has adopted a new Annuity Fund hardship withdrawal option to assist participants during this difficult time while they face unforeseen financial consequences due to the COVID-19 pandemic. Under this option, an active (non-retired) participant may apply for a one-time withdrawal of $10,000 from their account (or their entire account balance, if the balance is less than $10,000). Eligible participants may submit an application to the Fund Office at any time from now until June 10, 2020.

Applications may be submitted by mail to the Fund Office at Mason Tenders' District Council Trust Funds, 520 Eighth Avenue, Suite 600, New York, NY 10018-4196. Participants will be required to complete a certification along with the application. (Here is a link to the application and certification, or you may send an email to pensionannuity@mtdctrustfunds.org to request that the Fund Office send you the application and certification.) As with all Fund withdrawals, spousal consent will be required if a married participant's account balance is or at any time was more than $5,000.

This one-time withdrawal will not count toward the Fund's current limit of one non-educational Hardship Withdrawal per calendar year. Applications received by the Fund Office by April 15th will be processed and paid by early May; applications received between April 16th and May 10th will be processed and paid by early June; and applications received between May 11th and June 10th will be processed and paid by early July. (The Fund Office is doing its best to process all benefit applications in a timely manner during this very difficult time so please be patient if there are delays.)

Note that some of these withdrawals may qualify for certain tax relief under the new federal CARES Act -- waiver of the 10% early distribution tax penalty and payment of income taxes on the distribution over a three-year period. Participants should consult their tax advisors for advice regarding the tax consequences of any withdrawal. The Fund does not (and cannot) give tax advice.

As per the usual Fund rules in accordance with federal law, participants (and their spouse, if married) must have their signature notarized in order for their application to be processed. We recognize that some participants may be unable to go to a notary at this time but a number of states (including New York) offer virtual or remote notarization to assist individuals during this time. (This link may be helpful in that regard: www.nationalnotary.org/notary-bulletin/blog/2018/06/remote-notarization-what-you-need-to-know.) The availability of virtual notarization should be of great assistance to members who need it.

IMPORTANT MESSAGE ABOUT CORONAVIRUS (COVID-19)

The Funds' Board of Trustees understands that you and your family may have questions about your health, pension and annuity benefits during this uncertain time. As you know, the situation and the public health response is continuing to evolve and change on a daily basis. Please be aware that the Board of Trustees and the Funds' Office is taking steps to ensure that the Funds' operations continue without interruption as best as possible during this difficult time for all. In addition, the Trustees will be considering solutions to assist participants who are experiencing financial hardship during this time. Please continue to check the Funds' website periodically for new information and updates.

Following state and federal guidelines, the Funds' Office will be closed temporarily beginning Thursday March 19, 2020. If you need assistance or have any question about your benefits, please call 212-452-9700 and select the appropriate department, and a staff member will be available to assist you or will respond to your message. You may also communicate with the Funds' Office through the web inquiry on the Funds' website. The Funds' staff will be monitoring calls and emails remotely.

Please be assured that the Funds' staff is working hard to ensure that April pension checks are sent or direct deposited on time and that annuity applications approved for payment this month will be sent by the end of the month as well.

Please also be advised that the Welfare Fund is waiving participant out-of-pocket costs/cost-sharing for COVID-19 diagnostic testing. In addition, Aetna has introduced Healing Better care packages for members diagnosed with COVID-19, supporting our participants and helping to keep others in the home protected from potential exposure. Aetna also is offering resources to help address any associated anxiety and stress related to COVID-19, including opening Crisis Response Lines and expanding access 24/7 to the Aetna Nurse Medical Line, among others. You can find more information about these resources on Aetna's website aetna.com or contact Aetna at:

  • Aetna Crisis Resource line Number: (833) 327-2386
  • Aetna Informed Health Line (Nurse Line) number is: (800) 556-1555
As a reminder, follow your local government advice and the CDC guidelines for keeping yourself and your family healthy during this time.

Contact Us **** WELCOME! **** To the Mason Tenders' District Council Trust Funds Inquiry At this site you are able to view and print the data the Trust Funds have recorded on your behalf. This includes your Pension and Annuity accounts, your Health & Welfare status and work reports received from your employers. Although the information contained within this site is continuously updated, no guarantee is given that the information provided is correct, complete, and up to date. Contact the Fund office for your official record.
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Messages from the Fund Office
EFFECTIVE JULY 1, 2019 THE NEW FUNDS' DIRECTOR IS MS. ANNA GUTSIN, AS MR. VIRGA HAS RETIRED. THE FUNDS ADDRESS IS: 520 EIGHTH AVENUE, SUITE 600 NEW YORK, NY 10018-4196 TELEPHONE: (212) 452-9700 FAX: (212) 452-9729 PLEASE NOTE THAT IF YOU ARE HAVING TROUBLE ACCESSING THE WEBSITE USE THE "CONTACT US" LINK ON THE UPPER LEFT HAND UNDER THE LOGO TO LET US KNOW WHAT PROBLEMS YOU MAY BE HAVING. MAKE SURE TO INCLUDE YOUR NAME, DOB AND BOOK NUMBER