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You become vested after you have earned ten (10) or more years of credited service, without a break-in-service;OR you earned five (5) years of credited service and you have worked at least 200 hours in any plan year (January 1 through December 31) after January 1, 1991. Please refer to the Plan booklet for clarification on credited service, break-in-service, and how you can lose any pension benefits accumulated under this pension plan. |
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At least 60 days prior to your desired retirement date, please contact the Trust office and request the retirement application. Retirement dates are always the first of a month. You will need to fill out the forms and provide a copy of your birth certificate, your spouse’s birth certificate (if married), your marriage certificate (if married), and any divorce decrees and QDROs (if ever divorced). |
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You must be at least age 55 and vested in order to elect early retirement. |
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This Plan is funded through employer contributions. Your employer pays contributions, per a collective bargaining agreement, to finance the Plan. No contributions are required by or permitted from you. |
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Yes, the benefit is reduced by one quarter of one percent for each month that your retirement precedes age 62. If you have fifteen (15) or more years of credited service, and 200 hours of service in the 24-month period immediately before the date of your early retirement, your monthly benefit is reduced by one twelfth of one percent for each month your retirement date is before age 62. |
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Annually, usually in April, or you may receive a statement anytime upon request, simply call or send an email to BeneSys, your Trust Administrator. |
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A participant is considered totally and permanently disabled for a disability pension if the plan requirements for a disability retirement are met. You must be totally and permanently disabled before your 62nd birthday; and you have earned five (5) years of credited service; and you have been credited with at least 200 hours of service in the 24-month period immediately before your total and permanent disability begins.
Definition of total and permanent disability – you must be disabled by bodily injury or disease and not be able to perform job duties for any occupation you are qualified for. The disability must be permanent and continuous during your lifetime. This is further defined in Section 3.3 of the Plan Document. |
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All pre-retirement benefits, except pre-retirement lump sum payment options, begin at the time of death or the date you would have been eligible for early retirement benefits, whichever comes later. |
| | Before Retirement: Married more than one year and vested: • A monthly pension benefit equal to 75% of the monthly pension you accumulated up to your death (70% for deaths occurring in the 2024 Plan Year and 50% for deaths occurring prior to the 2024 Plan Year); or • A lump-sum benefit equal to the total non-forfeited Employer contributions that were made to the Plan on your behalf. Married less than one year, whether vested or not: • A lump-sum benefit equal to the total non-forfeited Employer contributions that were made to the Plan on your behalf. |
| | During Retirement: Married more than one year and receiving a benefit from the Plan: • A joint and survivor benefit equal to 75% or 100% of the benefit you were receiving at the time of your death. The percentage payable to your surviving spouse is based on the election that you and your spouse made at your retirement. (A 50% joint and survivor option was available prior to the 2024 Plan Year, was changed to a 70% joint and survivor option during the 2024 Plan Year, and replaced by the 75% joint and survivor annuity in the 2025 Plan Year.) Unmarried or married less than one year and receiving a benefit from the Plan: • If you die within the first five years of your retirement, the full benefit you were receiving will be paid to your beneficiary until the 60th month following your Retirement Date. |
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If you return to work as a Longshoreman under this Plan after having been retired, you will not be eligible to receive your retirement income for any month in which you work 40 or more hours. Your benefit will be “suspended”.
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