Type of Plan A plan with a cash or deferred arrangement is commonly known as a 401(k) plan. You are allowed to contribute a percentage of your pay on a before-tax basis, therefore reducing your current taxable income, resulting in tax savings. Additionally, contributions to the Plan grow tax-deferred until the money is withdrawn. Collective Bargaining Agreement Contributions to this Plan are in accordance with collective bargaining agreements between employers and lodges of the International Association of Machinists and Aerospace Workers or other union organizations if approved by the Trustees. Some employers participate in accordance with special participation agreements. The Fund Office will provide you, upon written request, a copy of the applicable collective bargaining agreement or participation agreement. The collective bargaining agreements and participation agreements are also available for examination at the Fund Office. Termination It is intended that this Plan will continue indefinitely, but the Board of Trustees reserves the right to change and/or discontinue the Plan and/or Trust Fund at any time. The Trustees may terminate the Plan and/or Trust Fund by an instrument in writing signed by all of the Trustees if in their opinion the Fund is not adequate to carry out its intent and purpose or is not adequate to meet the payments due or which may become due. The Plan may also be terminated if there are no individuals living who can qualify as participants or beneficiaries under the Plan. Finally, the Plan and/or Trust Fund may be terminated if there are no longer any collective bargaining agreements providing for the Plan and/or Trust Fund. The Trustees have the complete discretion to determine when and if the Plan and/or Trust Fund should be terminated. If the Plan and/or Trust Fund are terminated, the Trustees will pay the expenses of the Plan, arrange for a final audit, give any notice and prepare and file any reports which may be required by law, and apply the assets in accordance with the Plan, including amendments adopted as part of the termination, until the assets of the Plan are distributed. Under no circumstances will any portion of the assets revert or inure to the benefit of an employer or the IAM. Upon termination, the Trustees will make a reasonable effort to contact every participant, or if the participant is deceased, the participant’s beneficiary. If a participant cannot be located or does not make a claim for payment of his Individual Account within 90 days following notice by registered mail to the participant’s last known address, the Trustees will place the individual account in a federally insured savings account. The names of the individuals for whom an account is established will be available for reference with the IAM. Trust Fund The Fund’s assets are held in trust by the Board of Trustees of the IAM National 401(k) Fund. Identity of Provider of Benefits Benefits are provided directly by the Trust Fund. All of the types of benefits provided by the Plan are set forth in this booklet. 1 5