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.
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