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You may deposit your benefit dollars into a Paid-Time Off “Bank.” You may then use these credits to receive pay for any time you could have worked but did not (you simply file a claim with the Fund Office.) Any credits remaining in the paid time-off bank at the end of the year will be cashed out and sent to you automatically BY THE END OF THE YEAR. This benefit will be considered taxable income (any amount you receive during the calendar year will be subject to withholding and reported on your W-2 form) The Retirement & Savings 401(k) Plan offers you an excellent way to save for a secure retirement. Your Retirement & Savings 401(k) Plan gives you the opportunity to supplement your Social Security, pension and personal savings. Your Investments You can deposit all or part of your benefit credits into an account set up in your name. These credits are subject to FICA, state and Philadelphia tax (if applicable). Federal tax is deferred until you withdraw your money from the plan. You choose how to invest your money among several funds where it grows tax-free until your retirement. Your account balance may be invested in one option or divided among several options. Additional Advantages of Your Retirement 401(k) Plan 
You may make additional contributions to the Retirement &
Savings 401(k) Plan through convenient payroll deductions.
You may rollover amounts from an IRA or other employer’s
401(k) plan into this plan.When benefits are Paid Your Balance from this plan may be distributed for any of the following qualifying events:
You leave employment;
You become totally and permanently disabled;
You retire; or
Upon your deathDistribution of you account balance before you reach age 59 1/2 may be subject to a 10% penalty tax. With any benefit plan, there are some items not covered such as plan deductibles and co-payments. By depositing a portion of your benefit credits into your Health Care Spending Account, you can set aside money to pay for medical, prescription drug, dental and vision care (expenses that are not reimbursed by any plan). When you submit a receipt for eligible expenses, you are reimbursed tax-free from your account. How the Health Care Spending Account Works You decide how much of your benefit credits you want to contribute based on your estimated expenses for the coming year. You may contribute up to a maximum of $500 each year. When you have an eligible expense, pay for it as you normally would. Then, submit the receipt and a claim form to be reimbursed from your account. Use It or Lose It It’s important that you estimate your expenses carefully before contributing your benefit credits to this account, because any balance remaining in this account at the end of the year will be forfeited. Eligible Health Care Expenses Only certain health care expenses are eligible for reimbursement. Eligible expenses include:
Plan deductibles Coinsurance amounts and co-payments Expenses that are not covered, or
are partially covered under your medical or dental plan; and Expenses beyond the maximum medical and/or dental benefit limits,
and/or above usual, customary and reasonable (UCR) charges or plan allowance. Other items as permitted under the Internal Revenue Code
Health Care Expenses Not Eligible for Reimbursement You cannot use your health care spending account to reimburse: Expenses reimbursed by any other medical/dental plan; Health club, spa or exercise class fees; Cosmetic surgery (unless performed to correct a
congenital deformity, or deformity resulting from an injury or disease); Contributions or premiums for health care coverage for you,
your spouse and or your children;
Expenses not eligible for deduction from the Internal Revenue CodeYou may choose to have all or a portion of your benefit credits “banked” for future use. In the event of a temporary layoff, termination of your employment, or retirement, you can extend your coverage under the Fund plan by using the amount in your bank to buy coverage for an additional period of time.
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