Wednesday, May 12, 2021

Frequently Asked Pension Questions


Q.

How do I become a Participant in the Plan?

A.

You can become a Participant in the Plan if your employer is required by a Collective Bargaining Agreement with a Local Union affiliated with the Western States Conference of Insulators and Allied Workers to contribute to the Plan on your behalf as an Insulator and Allied Worker.

Q.

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

A.

If your former spouse is awarded a portion of your 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 benefits in any way?

A.

No.

Q.

Can pensions be paid or assigned or garnered to others?

A.

Your benefits are payable only to you and your designated beneficiaries, except for certain divorce and child support orders as required by law under a Qualified Domestic Relations Order (QDRO).

Q.

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

A.

Yes. Any retiree of beneficiary denied a benefit has the right to appeal to the Trustees within 60 days after the date shown of the letter 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.

Please file your application within at least 90 days of your anticipated retirement date. However, your application must be filed before the last day of the month preceding the month for which benefits are payable.

Q.

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

A.

Copies of your and your spouse's (if applicable) certified birth certificate. If married, a copy of the certified marriage certificate. If you were divorced, you will also be required to submit a copy of the final judgement along with any copies of the marital/property settlement agreement and 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 needs to be done?

A.

You may change your tax withholding as often as you wish by completing a new W-4P Form which can be obtained from the Benefit Office or downloaded from the website. Once this form is completed, you must return it to the Benefit Office for implementation. Please have the completed form to the Benefit Office before the 15th of the month to ensure it is effective for the following month.

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.

You may change your direct deposit information by completing a new Direct Deposit Form which can be obtained from the Benefit Office or downloaded from the website. Once this form is completed, you must return it to the Benefit Office for implementation. Please have the completed form to the Benefit Office before the 15th of the month to ensure it is effective for the following month.

Q.

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

A.

Although, the Benefit 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 our control. If you do not receive your check by the 10th day of the month, you must contact the Benefit Office so that a replacement check can be mailed to you. Please contact the Benefit Office if you are interested in receiving your monthly pension benefit electronically and you will be sent a Direct Deposit Form.

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:

  • Mail or fax a letter to the Benefit Office with your new address; or
  • Complete the Address Change Form located on the website and mail or fax to the Benefit Office for processing
Q.

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

A.

Please call the Trust Fund office and advise the Pension Department that you are getting a divorce or have already gotten divorced. You will also need to submit a FULL copy of your Final Dissolution of Marriage Judgment, Marriage and/or Property Settlement Agreement and QDRO (Qualified Domestic Relations Order).

Q.

When do I retire?

A.

  • Normal Retirement – Age 55 with 10 years of Total Vesting Service.
  • Totally and Permanently Disabled – Terminated employment and is unable to work as evidenced by a current Social Security Administration Disability Determination.