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Fund Organization : About the Fund

Purpose of the Plan | Fund Location | Trustees | Consultants | Investment Managers

Purpose of the Plan

The Southern States Savings & Retirement Plan is a collectively bargained (Taft-Hartley) multi-employer benefit plan, with equal management and union representation on the Board of Trustees. The Trustees meet at the end of each quarter with Administrators, Investment Managers, Legal Counsel and Actuary to insure the best performance possible for the Fund. All Trustees are elected by their peers to serve a five-year term (Union Trustees are elected by a five person Union Committee and Employer Trustees are elected by all participating employers).

The Plan is operated in compliance with the Employee Retirement Income Security Act of 1974 (ERISA). Required annual filings are made on behalf of the Plan with the Internal Revenue Service, and periodically, information is filed with the Department of Labor. These two federal agencies monitor the Plan.

The Southern States Savings & Retirement Plan was established in 1977, to help participants build retirement income for their future. When you become a member of the Plan, an individual account is set up in your name. The Employer Contribution portion of your account receives your share of Employer Contributions.. The Employee Contribution portion of your account receives your voluntary after-tax Employee Contributions, if you have made any. Your Employee Voluntary Contributions may be withdrawn once a year if needed. Your individual account also receives your allocated share of the Trust Fundís investment gains or losses quarterly.

Plan Highlights

The Southern States Savings & Retirement Plan provides eligible employees with:

  • Immediate participation in the Plan
  • Complete ownership (vesting) of all employer and employee contributions
  • Benefits upon termination of employment or retirement
  • Death benefits
  • The opportunity to contribute to the Plan for additional savings
  • Different ways to receive Plan benefits