Sunday, June 15, 2025

Frequently Asked Pension Questions


QWhen will I be eligible to retire?
A.Normal Retirement is age 60. Early Retirement with a reduction is age 55.
Q.

I am going through a divorce, what happens to my pension?

A.

Generally, your benefit is not assignable unless there is a court-ordered payment to a former spouse.  For these payments, a Qualified Domestic Relations Order (QDRO) is required.  You may request a copy of these procedures from the Fund Office.  Please note, benefit payments will not be paid if there is a QDRO required.

Q.

Does the Pension Plan affect Social Security benefits in any way?

A.

No, however the Plan does offer a 'social security leveling' option.  This option does not affect the amount of your social security benefit, but it adjusts the benefit from the Pension Plan to provide for a uniform combination amount of the period of benefit payments.  You may request more information on this option at the time of retirement.

Q.

Can pensions be paid or assigned or garnered to others?

A.

As a general rule, your interest in your accrued benefit, including your vested interest, may not be assigned to another.  There is an exception for court-ordered child support or payments to a former spouse.

Q.

If benefits are denied, may a retiree or beneficiary appeal?

A.

You have the right to a full and fair review by the Trustees of your claim.  You must provide a written request to the Trustees within 60 days after receipt of the denial.  You may provide any pertinent documents, records, information, and issues and comments.  Your appeal is sent to the Fund Office to be submitted to the Board of Trustees for review.

Q.

How far in advance should I request an application for retirement?

A.

It is requested that you contact the fund office 90 days prior to your retirement date to request an estimate of benefits and the application packet.

Q.

In addition to the application for retirement, what other documents do I have to submit to the Fund office?

A.

With the completed application, you need to provide a photo ID copy for you and your spouse, birth certificate for you and your spouse and a copy of your marriage certificate.

Q.

I am currently receiving a monthly pension benefit from the Plan and would like to change the tax withholding. What needs to be done?

A.

A tax form can be requested from the Fund office.  Once the completed tax form is received by the Fund Office, the adjustment is made.

Q.

I am currently receiving a monthly pension benefit from the Plan and would like to change the bank account information. How do I change this information?

A.

A direct deposit form can be requested from the Fund Office.  Once the completed form is received, the change is made.

Q.

I am currently receiving a monthly pension benefit from the Plan, what happens if I do not receive my check?

A.

Please allow 10 days for mailing.  Checks are mailed on the 26th of the month.  Please contact the Fund Office at (888) 390-7473 x 3.

Q.

I recently moved; how do I change my address?

A.

As soon as you have a new address, please contact the fund office at (888) 390-7473 x 3.

Q.

Whom should I contact if I'm getting a divorce and what documents do I need to submit?

A.

Please provide the fund office with a copy of your finalized Divorce Decree and any property settlement agreement.  If required, you can request a copy of the Plan's Qualified Domestic Relations Order (QDRO) procedures.  You should also request beneficiary forms to update.

Q.When will I become vested in the Pension Plan?
A.

A Participant will become vested in the Pension Plan after a Participant has five years with at least 870 Hours of Work for each of the five years without a Break in Service.

Please see the Pension Plan Summary Plan Description (SPD), HERE for further information regarding Normal Retirement, Early Retirement, and vesting details.