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SIS PENSION FUND PARTICIPANT NOTICE - COVID-19 - (4/15/2020)
PARTICIPANT NOTICE -
(See Full Document)
Sprinkler Industry Supplemental Pension Fund
In light of this public health crisis, the Trustees have amended the SIS Pension Plan to permit participants who experience a coronavirus-related event to receive a one-time, lump sum distribution. A Coronavirus-Related Hardship Distribution is available to any participant:
- Who is diagnosed with the virus SARS-CoV-2 or with Coronavirus Disease 2019 (collectively referred to as COVID-19) by a test approved by the Centers for Disease Control and Prevention (CDC);
- Whose spouse or dependent (as defined in Section 152 of the Internal Revenue Code) is diagnosed with COVID-19 by such a test; or
- Who experiences adverse financial consequences due to COVID-19 resulting from –
- Being quarantined;
- Being furloughed, laid off, or having work hours reduced;
- Being unable to work due to lack of child care;
- A closing or reducing of hours of a business owned or operated by the participant; or
- Other factors as determined by the Secretary of the Treasury.
To view the full COVID-19 SIS Fund announcement letter: Click here
To access the COVID-19 SIS Fund Hardship distribution application: Click here
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