CDSP Frequently Asked Questions
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UMWA Health and Retirement Funds

CDSP Frequently Asked Questions

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  • How and when was the CDSP created?

  • Who can particiapte in the CDSP?

  • How do I join the CDSP?

  • How do I contribute to the CDSP?

  • What are Employer Contributions?

  • Are there limits on how much I may contribute to the CDSP?

  • What are Catch-up Contributions?

  • May I change my investment choices or reallocate my savings among the investment choices after I have become a participant?

  • How is my money invested?

  • May I change my investment choices or reallocate my savings among the investment choices after I have become a participant?

  • How do I know how much money I have in my CDSP account?

  • Who pays the expenses of administering the CDSP?

  • How are gains/losses allocated to participants’ accounts?

  • May I withdraw my contributions while I am still working?

  • When may I have the proceeds of my account?

  • How are my benefits payable?

  • How Do I Qualify for a Hardship Withdrawal?

  • What do I do if my Hardship Withdrawal is denied?

  • What are the tax consequences of withdrawing proceeds from my account?

  • Does the Plan have a loan provision?

  • What happens if my employment is terminated or I go to work for an employer who does not participate in the plan?

  • What happens if I take a non-classified position with my employer?

  • What happens when I die?

  • Am I required to make withdrawals from my account at any time?

  • What information must I provide the CDSP?

  • Can my rights to the value of my account be transferred?