CENTRAL PENNSYLVANIA TEAMSTERS PENSION FUND

IMPORTANT ITEMS TO REMEMBER WHEN APPLYING FOR RETIREMENT

1. Your application should not be signed and dated more than sixty (60) days prior to the date that is entered in the space entitled "Date Electing to Retire."

2. If you are electing to have your monthly check(s) sent to the bank, your FIRST (or next if you already receive checks) monthly check will be sent to your home address. It takes 30 days for the direct deposit to go into effect.

3. The date of notarization must be the same date you signed the applicable forms in the presence of the Notary Public.

4. If the Pension Fund requests a participant's signature on a form, the form must be signed by the participant. No one other than the participant is permitted to sign forms on a participant's behalf, unless a Power of Attorney is on file with the Fund Office.

5. If you are electing to roll over a lump sum balance, the financial institution receiving the rollover needs to provide a Direct Rollover Acceptance Form or a Letter of Acceptance. In order for the rollover forms to be acceptable, please note the following points:

   • The acceptance forms must contain the name of the correct Plan name from which the money is coming. The funds are either coming from the Defined Benefit Plan or the Retirement Income Plan.

   • If you are electing a partial rollover, the acceptance paperwork must also be marked as a partial rollover.

   • The Retirement Income Plan is a qualified retirement plan (QRP) or a 401(a). You do NOT have an Individual Retirement Annuity ("IRA") or a 401(k) with the Central Pennsylvania Teamsters Pension Fund.

   • The acceptance forms must be signed by an authorized representative of the financial institution that is receiving the money (not simply a broker or financial advisor). The signature must be original.

   • All acceptance forms must be originals. Copies or faxes will not be accepted.

   • If the acceptance letter references an attached document, the Pension Fund requires the attached document to be included.

6. Your Retirement Income Plan balance is subject to net gains or losses through the last day of the month in which your application is approved for payment.

7. Your checks will begin on the first of the month following approval of your Retirement Application by the Board of Trustees. Retirement checks are issued on the first business day of the month and represent benefits for the previous month. For example, if your retirement date is October 1, you will receive your first check dated November 1, representing benefits for the month of October. If your retirement date is retroactive, your retroactive payment will be paid in a separate check on the first business day of the month after your application is approved.

8. Please make arrangements to receive all your mail from the Fund on a regular basis when you are away from home for an extended period of time. Failure to do so could result in a delay in receiving your monthly pension check or the 1099-R form that you need to complete your federal tax return. To avoid interruptions in the receipt of your mail from the Pension Fund, it is suggested that you contact the Fund directly to temporarily change your address while you are away for an extended period.