ALL NASI Press Releases

Wednesday, April 15, 2020


(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