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2022 Annual Funding Notice

The Central Pension Fund mailed the 2022 Annual Funding Notice (AFN) to all plan participants on Tuesday, May 24, 2022. Please note, this notice was sent for informational purposes only and does not require any further action be taken.

The notice can be viewed on the CPF website by clicking on the link below.

2022 Annual Funding Notice

Below are some of the most common questions we get from plan participants regarding the Annual Funding Notice.

AFN Explanation

The following pages present the Central Pension Fund’s 2022 Annual Funding Notice (AFN). This notice is sent for informational purposes only and does not require any further action to be taken. Below are some of the most common questions regarding the AFN:

1Why am I getting the Annual Funding Notice?

Federal law requires that all pension plans distribute an AFN annually, in the exact format presented.

2What is the Annual Funding Notice?

The Annual Funding Notice includes relevant information about the Fund, and provides a summary of federal rules governing insolvent multiemployer plans and benefit payments guaranteed by the Pension Benefit Guaranty Cooperation (PBGC), a federal agency.

3. Do I need to do anything with the Notice?

You do not need to do anything with the Notice. The AFN is sent for informational purposes only.

4. Does this Notice mean that my pension benefits will be terminated or that PBGC is taking over my benefit?

No. The description of the PBGC is provided for informational purposes only.

5. I am currently receiving a monthly payment. Will my benefit amount change?

No. If you are currently receiving benefits from the Plan, those benefits will continue unchanged.

6. I am currently not receiving a benefit, will my Accrued Benefit change? Will the

method of determining my benefit at commencement date change?

No. There is no impact on your accrued benefits. The AFN is sent for informational purposes only. It does not in any way change the way your benefits accrue under the Plan.

7. What is the Pension Benefit Guaranty Corporation (PBGC)?

The PBGC is a federal corporation created by federal law in 1974. Currently, it protects the pensions of nearly 40 million American workers and retirees in over 24,000 private single-employer and multiemployer defined benefit pension plans. For more information on PBGC, please visit their website: www.pbgc.gov

2021 Annual Statements

The 2021 Annual Participant Statements for the period ending December 31, 2021 were mailed Tuesday, April 26th. These Statements provide an estimate of your retirement benefit, current service amounts and details on contributions and hours received from your employer. Please review your Statement carefully and notify us in writing of anything you believe to be incorrect. If you do not receive your Statement by May 6th, please notify our office in writing, providing your current mailing address, as well as either your CPF ID number or the last four digits of your Social Security Number.

Finally, please remember to submit a Change of Address form in advance of any future move. For your convenience, the form can be found on our website as a fillable PDF file which can be completed online and then printed out for mailing to our office.

 

Horizon Data Incident

If you received a notice from the Central Pension Fund’s actuary, Horizon Actuarial Services, LLC, about a potential data incident, please contact the assistance line at (855) 541-3574.  This customer service center is staffed with representatives specially trained and waiting to assist you with this matter.

 

2021 1099-R Mailing

All 1099-Rs for calendar year 2021 are due by January 31 but are scheduled to be mailed on January 24, 2022. If you do not receive your 1099-R by February 15, 2022, please contact the Fund office. Before doing so, however, please first refer to the list below of Frequently Asked Questions relating to the 1099-R mailing, which may answer your questions.

1099-R Frequently Asked Questions:

1. When will I receive a Form 1099-R for filing taxes?

Forms 1099-R are due to be mailed by January 31st for benefits paid during the previous calendar year. As noted above, however, we scheduled the forms to be mailed on January 24th.

2. Why did I receive a Form 1099-R?

The Central Pension Fund is required by federal law to provide a Form 1099-R to anyone who received benefits during the tax year. This information is also provided to the IRS.

3. Why have I not received my Form 1099-R?

The Central Pension Fund mails the Form 1099-R to the home address we have on file. If you recently moved or changed your address and did not inform CPF of the change, you may not receive your Form 1099-R.

4. How do I get another copy of my Form 1099-R?

The Central Pension Fund will mail you a duplicate copy of your Form 1099-R upon your written request. You can request a copy beginning February 15th. Please submit your request in writing to the Fund office at 4115 Chesapeake St, NW, Washington, DC 20016.  Upon notification of your address change, a reprint of your Form 1099-R will be issued.

5. Why is the amount on Box 1 of Form 1099-R different than the total amount of benefit checks I received?

The amount shown in Box 1 is the gross amount of your benefit payments before any deductions were taken, including amounts withheld from your benefit checks for federal taxes. The amount may also include any other deductions (e.g., child support payments or federal income tax levies) from your pension payments during the year. These deductions are not reported on the Form 1099-R.

6. Why did I receive more than one Form 1099-R?

The Central Pension Fund must report different types of benefit payments on different Forms 1099-R. If you received more than one type of benefit payment, CPF must print a separate Form 1099-R for each benefit type. The distribution code on Box 7 of your Form 1099-R identifies the type of benefit payment you received. For example, you may have received multiple Forms 1099-R if you:

  • Received your own Central Pension Fund retirement or disability benefit and also a survivor or beneficiary benefit with respect to a former CPF plan participant.
  • Received a disability benefit at the beginning of the year and then switched to a retirement benefit later in the year.
  • Received a survivor benefit from a former Central Pension Fund plan participant and rolled over a portion of the benefit payment into an IRA.
  • Received a Survivor Benefit annuity as well as a lump sum death benefit with respect to a former Central Pension Fund plan participant.

7. What do the different Distribution Codes mean (Box 7)?

Distribution Code 2—You received retirement benefit payments before the age of 59½.

Distribution Code 3—You received disability benefit payments.

Distribution Code 4—You received a survivor benefit from a former CPF plan participant.

Distribution Code 4A—You received a lump sum death benefit from a former CPF plan participant.

Distribution Code 4G—You received a survivor benefit from a former CPF plan participant and rolled over a portion or all of the distribution into an IRA.

Distribution Code 7—You received retirement benefit payments after the age of 59½.

8. What is the Percentage of Total Distribution (Box 9a)?

If a beneficiary benefit was paid to more than one beneficiary, the percentage you received is shown in Box 9a. This amount represents the percentage of the beneficiary benefit you received of a former CPF plan participant.

9. What do I do if I receive a corrected Form 1099-R?

You may be required to re-file your income tax returns for prior tax years if you used the original Form 1099-R from the Central Pension Fund. The IRS generally allows taxpayers to file amended tax returns for up to three years after the original due date of the return.

10. If my address is incorrect on my Form 1099-R can I get a corrected form?

No. An incorrect address does not require a corrected Form 1099-R. However, if you would like to make an address change, please download the appropriate form from the website and either mail or fax it to our office.

11. I believe the amounts reported on my Central Pension Fund issued Form 1099-R are incorrect. What should I do?

Please contact the Central Pension Fund by mail at Central Pension Fund, Participant Records Department, 4115 Chesapeake St, NW, Washington, DC 20016. Be sure to include your daytime telephone number, a copy of your Form 1099-R, and the reason you believe the amounts reported are incorrect.

We will review your Form 1099-R and, if necessary, issue a corrected Form 1099-R. If we determine that the original form was correct, we will contact you and provide an explanation.

12. Does the Central Pension Fund provide tax advice, such as the amount of taxes to withhold from my monthly benefit?

No. You should seek advice from a professional tax advisor or the IRS for specific information on any tax-related issues. You can reach the IRS by calling 1-800-829-1040 or by going online to www.irs.gov .

13. How do I change my federal tax withholding?

You may change your federal tax withholding election as often as you like, provided you do so in writing by completing CPF’s Tax Withholding form or by completing IRS Form W-4P. You can access the CPF form by clicking here: CPF Tax Withholding Form or the IRS form by clicking here: Form W-4P . Your election will stay in effect until you change it or revoke it.

14. Does the Central Pension Fund withhold state or local taxes?

No. The Central Pension Fund is not required to withhold state or local taxes. If your state or local tax authority requires that you pay taxes on your CPF benefits, you may need to make payments to them directly.  If you have questions regarding state or local taxes, please contact your state or local tax authorities.

15. Is the Central Pension Fund a qualified retirement plan?

Yes. The Fund provides retirement and related benefits for eligible employees of contributing employers. It is therefore a qualified retirement plan as defined in Section 401(a) of the Internal Revenue Tax Code.

 

***EFT Payment Dates for 2022

The Central Pension Fund would like to announce the payment dates for the Plan Year beginning February 1, 2022. Download Document

 

2021 Semi-Annual Statements

Semi-Annual Participant Statements were mailed to active and deferred vested participants on October 18, 2021.  They cover the period January 1, 2021 through June 30, 2021.  These statements provide vested participants an estimate of their retirement benefit, and provide all participants with current service amounts and details on contributions and hours received from your employer(s).  Please review your Statement carefully and notify our office in writing if you find any discrepancies or suspect there are missing contributions.

If you change your address, please be sure to contact CPF so you can continue to get your Statements and other important documents.  Thank you for trusting the Central Pension Fund with your pension.

 

2021 Annual Funding Notice

The Central Pension Fund mailed the 2021 Annual Funding Notice (AFN) to all plan participants on Friday, May 21, 2021. Please note, this notice was sent for informational purposes only and does not require any further action be taken.

The notice can be viewed on the CPF website by clicking on the link below.

2021 Annual Funding Notice

Below are some of the most common questions we get from plan participants regarding the Annual Funding Notice.

AFN Explanation

The following pages present the Central Pension Fund’s 2021 Annual Funding Notice (AFN). This notice is sent for informational purposes only and does not require any further action to be taken. Below are some of the most common questions regarding the AFN:

1Why am I getting the Annual Funding Notice?

Federal law requires that all pension plans distribute an AFN annually, in the exact format presented.

2What is the Annual Funding Notice?

The Annual Funding Notice includes relevant information about the Fund, and provides a summary of federal rules governing insolvent multiemployer plans and benefit payments guaranteed by the Pension Benefit Guaranty Cooperation (PBGC), a federal agency.

3. Do I need to do anything with the Notice?

You do not need to do anything with the Notice. The AFN is sent for informational purposes only.

4. Does this Notice mean that my pension benefits will be terminated or that PBGC is taking over my benefit?

No. The description of the PBGC is provided for informational purposes only.

5. I am currently receiving a monthly payment. Will my benefit amount change?

No. If you are currently receiving benefits from the Plan, those benefits will continue unchanged.

6. I am currently not receiving a benefit, will my Accrued Benefit change? Will the

method of determining my benefit at commencement date change?

No. There is no impact on your accrued benefits. The AFN is sent for informational purposes only. It does not in any way change the way your benefits accrue under the Plan.

7. What is the Pension Benefit Guaranty Corporation (PBGC)?

The PBGC is a federal corporation created by federal law in 1974. Currently, it protects the pensions of nearly 40 million American workers and retirees in over 24,000 private single-employer and multiemployer defined benefit pension plans. For more information on PBGC, please visit their website: www.pbgc.gov

New Phone System for CPF

On March 1st we will be moving to a new phone system. The transition is scheduled to start at 11:00am that day. Therefore, you may experience difficulties or delays when trying to reach us by phone during this transition. Rest assured we are doing everything we can to minimize any disruption you might experience. However, you may want to consider calling on another day if you experience difficulties in reaching us that day. We appreciate your patience during the transition.

 

***EFT Payment Dates for 2021

The Central Pension Fund would like to announce the payment dates for the Plan Year beginning February 1, 2021. Download Document

2020 1099-R Mailing

All 1099-Rs for calendar year 2020 are due by January 31 but are scheduled to be mailed on January 25, 2021. If you do not receive your 1099-R by February 15, 2021, please contact the Fund office. Before doing so, however, please first refer to the list below of Frequently Asked Questions relating to the 1099-R mailing, which may answer your questions.

1099-R Frequently Asked Questions:

1. When will I receive a Form 1099-R for filing taxes?

Forms 1099-R are due to be mailed by January 31st for benefits paid during the previous calendar year. As noted above, however, we scheduled the forms to be mailed on January 25th.

2. Why did I receive a Form 1099-R?

The Central Pension Fund is required by federal law to provide a Form 1099-R to anyone who received benefits during the tax year. This information is also provided to the IRS.

3. Why have I not received my Form 1099-R?

The Central Pension Fund mails the Form 1099-R to the home address we have on file. If you recently moved or changed your address and did not inform CPF of the change, you may not receive your Form 1099-R.

4. How do I get another copy of my Form 1099-R?

The Central Pension Fund will mail you a duplicate copy of your Form 1099-R upon your written request. You can request a copy beginning February 15th. Please submit your request in writing to the Fund office at 4115 Chesapeake St, NW, Washington, DC 20016.  Upon notification of your address change, a reprint of your Form 1099-R will be issued.

5. Why is the amount on Box 1 of Form 1099-R different than the total amount of benefit checks I received?

The amount shown in Box 1 is the gross amount of your benefit payments before any deductions were taken, including amounts withheld from your benefit checks for federal taxes. The amount may also include any other deductions (e.g., child support payments or federal income tax levies) from your pension payments during the year. These deductions are not reported on the Form 1099-R.

6. Why did I receive more than one Form 1099-R?

The Central Pension Fund must report different types of benefit payments on different Forms 1099-R. If you received more than one type of benefit payment, CPF must print a separate Form 1099-R for each benefit type. The distribution code on Box 7 of your Form 1099-R identifies the type of benefit payment you received. For example, you may have received multiple Forms 1099-R if you:

  • Received your own Central Pension Fund retirement or disability benefit and also a survivor or beneficiary benefit with respect to a former CPF plan participant.
  • Received a disability benefit at the beginning of the year and then switched to a retirement benefit later in the year.
  • Received a survivor benefit from a former Central Pension Fund plan participant and rolled over a portion of the benefit payment into an IRA.
  • Received a Survivor Benefit annuity as well as a lump sum death benefit with respect to a former Central Pension Fund plan participant.

7. What do the different Distribution Codes mean (Box 7)?

Distribution Code 2—You received retirement benefit payments before the age of 59½.

Distribution Code 3—You received disability benefit payments.

Distribution Code 4—You received a survivor benefit from a former CPF plan participant.

Distribution Code 4A—You received a lump sum death benefit from a former CPF plan participant.

Distribution Code 4G—You received a survivor benefit from a former CPF plan participant and rolled over a portion or all of the distribution into an IRA.

Distribution Code 7—You received retirement benefit payments after the age of 59½.

8. What is the Percentage of Total Distribution (Box 9a)?

If a beneficiary benefit was paid to more than one beneficiary, the percentage you received is shown in Box 9a. This amount represents the percentage of the beneficiary benefit you received of a former CPF plan participant.

9. What do I do if I receive a corrected Form 1099-R?

You may be required to re-file your income tax returns for prior tax years if you used the original Form 1099-R from the Central Pension Fund. The IRS generally allows taxpayers to file amended tax returns for up to three years after the original due date of the return.

10. If my address is incorrect on my Form 1099-R can I get a corrected form?

No. An incorrect address does not require a corrected Form 1099-R. However, if you would like to make an address change, please download the appropriate form from the website and either mail or fax it to our office.

11. I believe the amounts reported on my Central Pension Fund issued Form 1099-R are incorrect. What should I do?

Please contact the Central Pension Fund by mail at Central Pension Fund, Participant Records Department, 4115 Chesapeake St, NW, Washington, DC 20016. Be sure to include your daytime telephone number, a copy of your Form 1099-R, and the reason you believe the amounts reported are incorrect.

We will review your Form 1099-R and, if necessary, issue a corrected Form 1099-R. If we determine that the original form was correct, we will contact you and provide an explanation.

12. Does the Central Pension Fund provide tax advice, such as the amount of taxes to withhold from my monthly benefit?

No. You should seek advice from a professional tax advisor or the IRS for specific information on any tax-related issues. You can reach the IRS by calling 1-800-829-1040 or by going online to www.irs.gov .

13. How do I change my federal tax withholding?

You may change your federal tax withholding election as often as you like, provided you do so in writing by completing CPF’s Tax Withholding form or by completing IRS Form W-4P. You can access the CPF form by clicking here: CPF Tax Withholding Form or the IRS form by clicking here: Form W-4P . Your election will stay in effect until you change it or revoke it.

14. Does the Central Pension Fund withhold state or local taxes?

No. The Central Pension Fund is not required to withhold state or local taxes. If your state or local tax authority requires that you pay taxes on your CPF benefits, you may need to make payments to them directly.  If you have questions regarding state or local taxes, please contact your state or local tax authorities.

15. Is the Central Pension Fund a qualified retirement plan?

Yes. The Fund provides retirement and related benefits for eligible employees of contributing employers. It is therefore a qualified retirement plan as defined in Section 401(a) of the Internal Revenue Tax Code.

 

Disclaimer

This Internet site is owned and operated by the Central Pension Fund of the International Union of Operating Engineers and Participating Employers (hereinafter “Central Pension Fund”). The materials on this Internet site may be downloaded for PERSONAL USE ONLY. The copying, reproduction, duplication, modification, distribution or disclosure of information contained on this site without the prior written approval of the Central Pension Fund is expressly prohibited. Improper access and use of this Internet site is also strictly prohibited and may subject an unauthorized user to criminal and civil penalties, including indemnification to the Central Pension Fund for losses or damages caused by such unauthorized use including, but not limited to, unauthorized uploading or posting of information and copyright infringement. The materials on this Internet site are provided for informational and educational purposes only. The content of these websites is not, and shall not be construed as, a promise of benefits. All benefits are governed by the terms of applicable plan documents as interpreted by the Board of Trustees. You may use this site to learn about the benefits provided by the Central Pension Fund. However, the Central Pension Fund does not warrant the accuracy or completeness of the information, Internet links, or other items contained on the site. Moreover, the Central Pension Fund expressly disclaims liability for errors or omissions in these materials, and disclaims all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose. In no event shall the Central Pension Fund, or any other third parties mentioned on this Internet site, be liable for any damages arising out of the use, inability to use, or the results of use of this site, any Internet sites linked to this site, or the materials or information contained on all such sites. The Central Pension Fund makes no commitment to update the information contained on this site and, as such, the information on this site is not guaranteed to be current. The Central Pension Fund has provided links to outside sites, but is not responsible for the content or the availability of these sites. The inclusion of such links is neither intended nor understood to constitute any implied or express approval or acceptance of the validity of the information contained on such sites. The information contained on this Internet site does not constitute financial or legal advice. You should not act (or refrain from acting) based upon information on this Internet site without obtaining professional advice regarding your particular facts and circumstances. The Central Pension Fund expressly disclaims all liability with respect to actions taken or actions not taken based on the content of this Internet site. The Central Pension Fund and any entities mentioned herein (including entities for which an Internet link is provided) expressly disclaim all liability for any losses, claims, injuries, or damages-whether direct, indirect, consequential, incidental or otherwise-arising from the use of any information contained on this Internet site. If any provision in this Disclaimer is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect to the fullest extent possible under the law.