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CARES Act

Deadline Extended to 11/30/20

Final Deadline Extension

 

CARES Act Distributions

The Board of Trustees of the Plumbers & Steamfitters Local 72 Defined Contribution Fund extends their best wishes for the well-being of you and your families during this unprecedented time.  In accordance with the Coronavirus Aid, Relief and Economic Security (CARES) Act, the Board of Trustees has approved a plan change to allow ‘qualified individuals’ the ability to take a new penalty-free retirement account distribution.  A participant who meets the definition of ‘qualified individual’ will have the ability to request a maximum of $12,000 for COVID-19 distributions through November 30, 2020.

To be an eligible ‘qualified individual’ for the CARES Act COVID-19 distribution, you must meet any one of the following criteria:

  • Diagnosed with COVID-19

  • Have a spouse or dependent(s) diagnosed with COVID-19

  • Experienced adverse financial impact due to quarantine, furlough, layoff, reduced work hours or inability to work because of childcare-related issues due to COVID-19

  • Faced with other COVID-19-related factors as determined by the Secretary of the Treasury

You must certify that you are a ‘qualified individual’ and eligible for a COVID-19 distribution.

Click here to view the full announcement letter regarding this benefit.  You may download the application form by clicking here.  Please upload your completed, signed and notarized application form using the secure upload tool below.  If you have any questions, please contact NEBA at 1-888-365-0072.

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