You may be able to take money from your plan account to help with the purchase of a primary home or for any reason.

The participant may choose the loan repayment period, not to exceed fifteen (15) years on loans used to acquire the participant’s residence. Or, the participant may choose the loan repayment period, not to exceed five (5) years on loans for any reason. Loans may be repaid in full, at any time, without penalty.  Level amortization shall be required of each loan with payments made by monthly Automatic Clearing House (ACH) payments.

Please remember that the longer your money is invested in your plan account, the more time it has to compound and grow. You should consider all your options before borrowing from your plan account. The Redwood Empire Electrical Workers Pension Trust Fund determines your eligibility. 

Please access John Hancock Retirement Plan Services by phone at (833) 388-6466 or their website with the following link:            

John Hancock Retirement Plan Services

* NOTE:  When using the website, please note that you may need the group number which is TH4602.

John Hancock Retirement Plan Services is the investment vehicle utilized by Redwood Empire Electrical Pension Trust Fund.  This Plan is a self-directed Pension Plan which allows the participant to choose their own investment mix. 

Please access John Hancock Retirement Plan Services by phone at (833) 388-6466 or their website with the following link:

                        John Hancock Retirement Plan Services

*Note:  When using the website, please note that you may need the group number which is TH4602.

Please click on the following link to view the Pension Summary Plan Description:

Pension 2017 SPD.pdf

1.    How do I change my mailing address?
       Contact the Trust Fund office at (707) 526-1996.

2.    When do I become covered (vested)?
       You automatically become covered (vested) on the day

       contributions are made on your behalf. 
 

3.    When may I retire from the Redwood Empire Electrical

       Workers Individually Allocated Pension Plan?
       When you reach age 55 (Normal Retirement Age) regardless

       of the number of years you have worked.

4.    Can I withdraw the Contribution made for me before my
       Retirement Date?
       Yes, under certain conditions. If you do not work under the

       Collective Bargaining Agreement for a twelve consecutive

       month period, you can withdraw the value of your entire Basic

       Account if that value is less than $15,000.

       If the value of your combined Basic and Voluntary Accounts is

       $5,000 or more, you cannot receive a cash distribution unless

       your spouse consents in writing.

       If the value is $15,000 or greater, your Basic Account will

       remain with the Plan until you retire or die. Benefits will then

       be paid in accordance with the Plan provisions.

5.    If I have $15,000 or greater in my account and I am under
       age 55, is there any other option for accessing my Pension
       funds?
       Two options may be available to borrow against your Pension for

       participants. One of which is to borrow against your funds to use

       toward the purchase of your primary residence. Two, is to borrow

       against your funds for any reason. The minimum you may borrow

       is $1,000 and the maximum you may borrow is the lesser of 50%

       of your account balance or $50,000. Contact John Hancock

       directly to request more information or to request your application.

       Further information is listed under Loan Option within the

       Defined Contribution Pension information.