Tuesday, August 11, 2020

Frequently Asked Pension Questions



Q. How do I become a Participant in the Plan?
A.You will become a Participant on the first day of the month after you are credited with 375 Hours of Service a Plan Year.
Q.I am going through a divorce, what happens to my pension?
A. If your former spouse is awarded a portion of earned benefit through the Plan, it will be necessary that you and your spouse complete a Qualified Domestic Relations Order (QDRO) so that the Plan can pay benefits to your former spouse. You may contact the Benefit Office and request that a sample QDRO be provided to you.
Q.Does the Pension Plan affect Social Security benefit in any way?
A. No.
Q.Can pensions be paid or assigned or garnered to others?
A. No. Pension cannot be assigned to a third party. The only exceptions are for payments in accordance with a Qualified Domestic Relations Order (QDRO), or on the death of the Participant to a designated beneficiary.
Q.If benefits are denied, may a retiree or beneficiary appeal?
A. Yes. Any retiree or beneficiary denied a benefit has the right to appeal to the Trustees within sixty (60) days after receipt of written notification of denial. The rules for filing an appeal are briefly outlined in your Summary Plan Description (SPD).
Q.How far in advance should I request an application for retirement?
A. You can request an application for retirement any time during the 180 days prior to your expected retirement date but in no event, not later the last working day of the month prior to the month in which you want to retire with this Plan.
Q.In addition to the application for retirement, what other documents do I have to submit to the Administrative Office?
A. You will need to provide photocopies of the birth certificates for you and your spouse, copy of your marriage license, copy of photo identification for you and your spouse. If you are divorced, you are required to submit a copy of the final judgment of dissolution with copies of the property settlement agreement and/or a copy of the Qualified Domestic Relations Order (QDRO).
Q.I am currently receiving a monthly pension benefit from the Plan and would like to change the tax withholding. What do I need to do?
A.You can change your tax withholding as often as you wish by completing a new W4-P which can be obtained from the administrative office or downloaded from the website. Once this form is completed, return it to the administrative office for implementation.
Q.I am currently receiving a monthly pension benefit from the Plan and would like to change the bank account information. What do I need to do?
A. You can change your direct deposit information by completing a new Direct Deposit Request form which can be obtained from the administrative office or downloaded from the website. Once this form is completed you must return it to the administrative office for implementation.
Q.I am currently receiving a monthly pension benefit from the Plan, what happens if I do not receive my check?
A. Although, the administrative office makes every effort to ensure that your monthly benefit arrives on time, sometimes it is possible that the delivery of your check is delayed beyond reasons out of our control. There is a possibility that your check can get lost in the mail processing. If for any reason, you do not receive your check by the 10th day of the month, you must contact the administrative office so that a replacement check can be mailed to you.
Q.I recently moved, how do I change my address?
A. For your protection, all address changes must be submitted in writing. You can change your address in one of two ways:
  1. Mail or fax a letter to the administrative office with your new address; or
  2. Complete the Address Change Form located on the website and mail or fax to the administrative office.
Q.Whom should I contact if I’m getting a divorce and what documents do I need to submit?
A. Please call the administrative office and advise the Eligibility and Pension Departments that you are going through a divorce or are divorced. You will need to submit a complete copy of your Judgment of Dissolution of Marriage, Qualified Domestic Relations Order (QDRO), and Qualified Medical Child Support Order to the administrative office.