This section provides information about how the pension plan is administered.
Name of the Plan. The plan is known as the Local 734 Pension Plan.
Board of Trustees. A Board of Trustees is responsible for the operation of the plan. The Board of Trustees consists of employer and union representatives selected by the employers and the local union which have entered into collective bargaining agreements that relate to the plan. If you wish to contact the Board of Trustees, you may use the address and telephone number below:
Board of Trustees
Local 734 Pension Fund
6643 North Northwest Highway
Chicago, Illinois 60631
Telephone: (773) 594-2810
The current active list of Trustees can be viewed on the Fund Directory page.
Plan Sponsor and Administrator. The Board of Trustees is both the sponsor and administrator of the plan.
Plan Administrator. The Trustees have assigned administrative responsibilities to Mr. Thomas J. Boehm, the Fund Administrator and he may be contacted at Local Union No. 734 Pension Fund Office, 6643 North Northwest Highway, Chicago, Illinois 60631.
Identification Number. The number assigned to this plan by the Board of Trustees pursuant to instructions of the Internal Revenue Service is 51-6040136. The plan number is 001.
Agent for Service of Legal Process. Mr. William Widmer, III, of Carmell, Charone, Widmer, Mathews and Moss, Ltd. is the plan’s agent for service of legal process. Accordingly, if legal disputes involving the plan arise, any legal documents should be served upon Mr. Widmer at 1 East Wacker Drive, Suite 3300, Chicago, Illinois 60601 or upon any individual Trustee at the address of the Fund Office.
Collective Bargaining Agreements. This plan is maintained pursuant to collective bargaining agreements between the contributing employers and the union.
The Fund Office will provide you, upon written request, information as to whether a particular employer is a contributing employer.
Source of Contributions. The benefits described on this site are provided through employer contributions. The amount of the employer contributions and the employees on whose behalf contributions are made are determined by the provisions of the collective bargaining agreements.
Pension Trust’s Assets and Reserves. All assets are held in Trust by the Board of Trustees for the purpose of providing benefits to eligible participants and defraying reasonable administrative costs.
Plan Year. May 1st through April 30th.
Type of Plan. This is a defined benefit plan maintained for the purpose of providing retirement, disability and death benefits to eligible participants and their eligible beneficiaries.
Eligibility and Benefits. The types of benefits provided and the plan’s requirements with respect to eligibility, as well as circumstances that may result in disqualification, ineligibility, or denial or loss of any benefits, are described on this site.
Assignment of Benefits. This plan is intended to pay benefits only to you or your eligible survivors. Your benefits cannot be used as collateral for loans or assigned in any other way, except in connection with domestic relations orders issued by a court of law. A domestic relations order requires payment of alimony, child support or other marital assets, which could include all or a portion of your benefit from this plan, to a spouse, former spouse, child or other dependent. You will be notified if such an order is received with respect to your benefits.
Amendment of Plan. The Boards of Trustees reserves the right to amend, modify, revoke, suspend or terminate the plan in whole or in part at any time, by resolution duly passed in accordance with the Trust Agreement. You will be notified in writing of any amendment or termination of the plan.
Plan Interpretations. The Board of Trustees possesses broad discretionary power to determine eligibility for benefits and to construe the terms of the Trust and/or plan governing benefits. Such determinations will be given judicial deference in any later court proceedings, unless they represent an abuse of discretion.
Plan Termination. The Board of Trustees shall have the right to discontinue or terminate this Plan in whole or in part. The rights of all affected Participants to benefits accrued to the date of the termination, partial termination, or discontinuance shall be nonforfeitable to the extent funded as of such date. In the event of the termination of the Plan, the provisions of section 4041(A) of ERISA, as modified by the Multiemployer Pension Plan Amendments Act, shall apply.