The Electrical Workers Deferred Income Plan Local 103 I.B.E.W. is a defined contribution retirement plan that was established to provide members with additional financial security in retirement. Participants are 100% vested in the Plan upon the first hour of contributions under covered employment. The account balance will remain the participant’s even if he or she leaves covered employment. Under certain qualifying events, participants have the option to apply for a distribution from or loan against their Deferred Income balance. The Plan currently manages in excess of 8,000 accounts and over 700 loans all of which are administered by the Trust Fund staff. Benefits under the Plan are funded through an investment portfolio in excess of three‐quarters of a billion dollars. The Deferred Income Fund runs on a fiscal year from December 1 through November 30. At the end of the Plan year, participants’ accounts are allocated a prorated share of the net earnings of the Fund for the year.