For IPF:
Phone: 1-888-880-8222
Fax: 202-347-7339

For IHF:
Phone: 1-888-880-8222
Fax: 202-383-3905

620 F Street, NW
Washington, DC 20004

About Us


Issue 5, 2016


Annual Notices of Potential Benefits and Required Minimum Distribution

Each year IPF and BAC SAVE Retirement Savings Plan (RSP) file detailed information through IRS Form 8955-SSA (Annual Registration Statement Identifying Separated Participants with possible Deferred Vested Benefits) to report on participants who have separated from service for at least two years and may have deferred vested benefits with the Fund. The Social Security Administration also mails a Notice of Potential Private Pension Benefit to remind participants regarding their possible eligibility for deferred vested benefits payable from retirement plans, including IPF and RSP, in which they participated.

RSP participants and beneficiaries are also notified of Required Minimum Distributions (RMDs) each year in annual mailings. IPF participants are similarly notified of their need to apply for potential pension benefits. An RMD is the minimum amount you must withdraw from your account each year. RMDs apply to all Individual Retirement Accounts (IRAs) and Qualified Retirement Plans (QRPs) including BACSAVE RSP annuity and 401(k) accounts. Initial RMDs must be taken no later than April 1st of the year following the calendar year in which a participant reaches the age of 70 years and 6 months. Subsequent RMDs must be taken by the December 31st of each year. You may withdraw more than the minimum required amount. This reminder is also found on RSP annual statements and targeted mailings.

RMD for any year is a portion of the account balance as of the end of the calendar year based on life expectancy tables. The following example illustrates when participants must take RMD’s:

You reach age 70½ on the date that is 6 calendar months after your 70th birthday. Your 70th birthday was June 30, 2015. You reached age 70½ on December 30, 2015. You must have taken your first RMD (for 2015) by April 1, 2016.

If a participant does not receive the RMD in a timely manner, there are IRS tax consequences for the participant and the Plan. For further information regarding these notices, potential vested benefits, RMDs, or any other questions regarding RSP, please contact the Fund office:

Bricklayers and Trowel Trades International Pension Fund
620 F Street, N.W., Suite 700
Washington DC  20004