Participation & Rates

Saving Plan Participation & Rates

Participation

All members MUST participate in either the Plumbers’ Savings’ Plan or the Plumbers’ Retirement Savings Plan (401(k)).

A member may elect to participate in the Savings Plan and/or the Plumbers’ Retirement Savings Plan (401(k) Plan) at the minimum rate for each Fund. Contractors may limit member participation in both Funds and/or limit participation rates if payroll problems arise.

Customer Identification Program (CIP) Form

By law, all members must complete a Customer Identification Program Form in order to participate in the Savings Plan. If you are a member and want to enroll in the Savings Plan, please download, print and complete the form below:

Customer Identification Program Form

To download, right click on the link above and select ‘Save Link As’ from the popup menu. Please note where you save the file on your computer. Once completed, please mail or Fax to the Local 130 Data Processing Office.

Click here for Fax and Address > Data Processing Office

Rates

Participation rates are determined by member classification:

Note: Members can increase their savings in $.50 increments with no maximum deduction;, however, 401(k) contributions are limited to a maximum of $10.00 per hour.

Note: City of Chicago employees are bound by their agreement with the city. Their rate is $.50 per hour and they can not increase their deduction.