Local 1 Defined Contribution Pension Plan:  New Look, Same Plan

You will be receiving a mailing from our Administrator of our Defined Contribution Pension Plan. The information will be in regard to our Plan Administrator’s final transition from Dougherty Petroff & Associates, to longtime Portland based insurance provider The Standard. The Standard, along with insurance services, offers investment services as well. About two years ago D.P.A. was acquired by The Standard and the transition to the parent company has been a work in progress. Up to this point there has been little noticeable change to our participants. We have not had any changes to our investment options, and our fee structure has remained the same. The information that you receive will outline the changes in the new Web Site and walk you through establishing a new User ID and Password.

The DC Plan we have now, will remain the same with The Standard. I want to assure you that the Trustees are keeping a careful eye on this transition to make sure that your best interests are protected. We initially chose D.P.A. as our Plan Administrator because of their capability and expertise. The Standard recognized that same capability and expertise, and chose to add DPA and many of their staff personnel to their organization. If you have any problems, our contact at The Standard is John O’Keefe and his number is (971) 321-3607, or you can contact me at our office at (503) 232-0358. I appreciate your patience through this transition.