A Guide to Your Individual Account Plan

If You Marry

If you get married, you should contact the Fund Office at 301-731- 1050 to make sure your beneficiary information is up-to-date. If you are married at the time your benefits begin (also called your “effectivedate”), under federal law, your spouse will be treated as your beneficiary for at least 50% of your Individual Account. However, at the time you apply for benefits under this Plan, your spouse may waive his or her right as your beneficiary. Your spouse’s waiver must be in writing and witnessed by a Notary Public.

The automatic form of payment for married Participants is the 50% Spousal Annuity. This benefit provides a reduced monthly payment to you so that if you die before your spouse, your spouse will continue to receive 50% of the amount you were receiving prior to your death.

If you get married after you have begun receiving your benefit payments, you cannot change your method of payment to a 50% Spousal Annuity—the form of payment you elected will remain in effect.

If you move

If you move, be sure to notify the Fund Office, IBEW Local 26, the Local 26 Credit Union, and your employer of your new address!