Retirement

“Retirement” or “retire” means that you have stopped all work with contributing Plan Employers and all suspendible employment and have filed an application for benefits with the Fund Office. No benefits are payable for any months before you file your application, unless required by the Internal Revenue Code.

Retirement - Full Accrued Monthly Pension

Normal Retirement - With Full Monthly Pension Amount
Age RequirementNumber of Credited Years of Service
655
Early Retirement - With Full Accrued Benefits

Early Retirement - With Full Accrued Benefits & Supplemental Payment*

Rule of 85: Age(minimum 52) + Credited Years of Service = 85 

Age RequirementNumber of Credited Years of Service
5233
5332
5431
5530

*The Supplemental Payment will be based on your Accrued Monthly Pension as of the date indicated in the Supplemental Payment chart, depending on how much service you have at retirement and also depending on whether your service was in consecutive years prior to termination.

Early Retirement - With Full Accrued Monthly Pension Amount

Age RequirementNumber of Credited Years of Service
6210
Can retire at 55 with than 30 years of service with a reduced pension.

Early Retirement - With Reduced Monthly Pension

Early Retirement Pension With Reduced Benefits After Age 55

If you are a vested participant and are an Active Participant between the ages of 55 and 62 with 10 to 30 years of Credited Service, you are eligible to receive a reduced Early Retirement Pension. Your monthly benefits will begin the month after your application to the Plan.

Your reduced benefit is based on your Accrued Monthly Pension benefit based on your work in Covered Employment through the date of your retirement. The Accrued Monthly Pension benefit will be reduced by ¼ of 1% per month (3% per year) for each month that you are under the age of 62 when you retire.

Early Retirement Reduced Benefit Percentage Chart

Using the ¼ of 1% per month reduction, the percentage of your Accrued Monthly Pension paid at early retirement is as follows.

If you retire at age...Percentage of Benefit Payable
5579%
5682%
5785%
5888%
5991%
6094%
6197%
62100%

Please note: These percentages only apply to Participants that are Active in the Pension Plan at the time of retirement.

Disability Retirement

Disability Retirement - Accrued Monthly Pension Amount

Disability Retirement Pension*** - Accrued Monthly Pension Amount.

Age RequirementNumber of Credited Years of Service
No age limitation.10 years and Credited Service granted in each of the 10 Plan Years preceding the Plan Year of the onset of disability.

***To receive a Disability Pension you must be an Active Participant at the date of the onset of your disability and for  the Plan Year preceding the date on which the onset of your disability occurred. You must have ten years of Credited Service and must have earned Credited Service in each of the 10 Plan Years preceding the Plan Year in which the onset of your disability occurred. In addition, you must be judged totally and permanently disabled, unable to work in any occupation.

All benefits provided by the Plan are separate from and in addition to benefits that you or your family receive from Social Security. (However, a Supplemental Early Retirement Pension ends whenever you  receive Social Security Benefits.)