Frequently Asked Pension Questions (FAQ)
This page contains answers to common
questions handled by our support staff.
(1)
How do I file for Pension Benefits?
(2)
What is the earliest age I can collect Pension Benefits?
(3)
What is required in order to be eligible for a Disability Pension
Benefit?
(4)
What is Vesting Service?
(5)
What is Benefit Service?
(6)
What documents are needed when filing for Pension Benefits?
(7)
Why is my spouse’s information required?
(8)
I have a Common-law Wife, how do I make sure that she is protected on
my pension?
(9)
How far in advance should I apply for Pension Benefits?
(10)
Does the Fund provide a Lump Sum Payment?
(11)
Can I change my Option?
(12)
Why will my benefits be suspended if I am not working in a “union”
capacity?
(13)
What should I do if I disagree with a decision that has been rendered,
such as a denial for Pension Benefit, the effective date, the amount
of my pension etc.?
(14)
How do I check to see if the company is making the correct
contributions?
(15)
What should I do if I do not agree with the time that has been
reported?
(16)
How do I know if my employer has fulfilled their obligation under the
Collective Bargaining Agreement?
(17)
How do I sign up for Direct Deposit ?
(18)
If I am on Direct Deposit, do I need to notify you if I should move?
(19)
How do I change the amount of taxes being withheld on my pension check
?
(20)
I need to change my Beneficiary for my Death Benefit?
(21)
What should my family do in the event of my death?
(22)
Does the Fund offer any type of medical coverage after I retire?
(23)
If I die as a single member, who will receive my pension?
(1) How do I
file for Pension Benefits?
In order to file for pension benefits, you need to obtain an application.
This can be done in several ways: (i) by accessing the Normal/Early or
Disability application form directly from this Website in the Forms
Gallery, (ii) by requesting the forms
via email,
or (iii) by calling the Pension Department at 1-800-523-2846.
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(2)
What is the earliest age I can collect Pension Benefits?
The earliest age that a participant can collect
Pension Benefits is age 50 unless you have attained 25 Benefit Years or 30
Vested Years of service. In those
cases, you may begin to collect your accrued Pension Benefit at any age after
you leave Covered Employment and are not employed in “suspendible
employment” for more than 64 hours in a calendar month.
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(3)
What is required in order to be eligible for a Disability Pension
Benefit?
In order to be eligible for any type of Pension
Benefit, you must have a vested pension. To be vested, you must have at least
five (5) years of Vesting Service provided you were in Covered Employment after
January 1, 1999 or ten (10) years if you terminated participation in the Plan
prior to January 1, 1999. Additionally, you would have had to become disabled
while in Covered Employment. This will require verification either through a
Social Security Disability Award Letter or medical records.
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(4) What is Vesting Service?
Vesting Service determines whether you have a non-forfeitable right to a pension
sometime in the future.
You will earn one (1) year of Vesting Service
for any calendar year in which you earn at least 750 hours of Covered Employment
(prior to 1/1/76 - 175 days for a full year, 100 days for one half year of
vesting service credit).
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(5) What is Benefit Service?
While Vesting Service determines whether you
have a right to a nonforfeitable pension sometime in the future, Benefit Service
determines the amount that that vested pension is worth.
You will earn one year of Benefit Service if you work at least 1800 hours
(225 days) in a calendar year (prior to 1/1/76 -175 days for a full year, 100
days for one half year of benefit service credit). You will earn fractional
benefit service credit if you work at least 750 hours, but less than 1800 hours
in a calendar year (Example - 1600 hours = .89 year of benefit service
credit)
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(6)
What documents are needed when filing for Pension Benefits?
The documents required when filing for pension
are a birth certificate for the member and spouse (if married) and a copy of
your marriage certificate. If you are divorced, you will need to provide a copy
of your divorce decree. If you are widowed, you will need to provide a copy of
the death certificate for your spouse. If your spouse was previously married, we
will need documentation to substantiate each name change.
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(7) Why is
my spouse’s information required?
Under Federal Law and under the provisions of
the Pension Plan, a spouse is required to give written consent to a
participant's election.
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(8)
I have a Common-law wife, how do I make sure that she is protected on
my pension?
The Fund does recognize common law marriages,
however, you must fulfill certain requirements in order for that relationship to
be recognized. In order to determine whether or not you fulfill these
requirements, you should contact the Pension Fund at 1-800-523-2846 ext. 1905.
You will be required to complete a special common law marriage
application.
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(9)
How far in advance should I apply for Pension Benefits?
The processing of an application is generally a
quick process. However, a delay can be caused by a slow response from employers,
other pension funds, the lack of required documents or lack of information.
Generally speaking, the application process should take approximately 60 days
unless we need to obtain your itemized earnings from the Social Security
Administration, which could take an additional 90 - 120 days.
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(10) Does
the Fund provide a Lump Sum Payment?
Yes, the Fund does have a lump sum payout
provided the actuarially determined present value of the benefit is $5,000 or
less. It will be determined at the time of the calculation as to whether or not
you qualify for this type of a payment. Should it be determined that you do
qualify, you will be paid in a one-time lump sum payment in lieu of monthly
Pension Benefits.
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(11) Can I change my Option?
An election becomes irrevocable upon the earlier
of, 90 days after you make your election or the commencement of
your benefits.
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(12)
Why will my benefits be suspended if I am not working in a “union”
capacity?
Re-employment under the provisions of the Pension
Plan is not limited to employment in a “union” capacity.
Rather, it is defined as employment in the same trade, craft or industry.
Please refer to the definitions in the Pension Plan for a full explanation of a
trade, craft or industry. Different rules apply depending on whether you are
receiving an Early or Normal Retirement Benefit. Please contact the Pension Fund
to determine what set of rules apply to your particular benefit.
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(13)
What should I do if I disagree with a decision that has been rendered,
such as a denial for Pension Benefit, the effective date, the amount
of my pension etc.?
If you disagree with a decision that has been
rendered on your application, you have a right to an appeal hearing. To do so,
follow the appeal procedure
in the Summary Plan Description.
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(14)
How do I check to see if the company is making the correct
contributions?
To determine if the company has properly
remitted to the Health & Welfare Fund on your behalf, you should contact the
Eligibility Department at 1-800-523-2846 ext. 1904. To determine if the company
has properly remitted to the Pension Fund on your behalf, you should contact the
Pension Department at 1-800-523-2846 ext. 1905. Keep in mind that contributions
are generally due the 28th of the month following the month in which the time
was worked.
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(15)
What should I do if I do not agree with the time that has been
reported?
If you feel that the time reported by your
employer is not accurate, you should notify the Fund office immediately by
sending a letter with a full explanation as to why you feel the time is
incorrect. Also, you should substantiate any differences you may have by
submitting any and all documents such as pay stubs, payroll records, workmen's
compensation stubs, etc. Once this information is received, we will review the
records along with the Collective Bargaining Agreement to determine any
differences that may be due. The employer, in turn, will be notified and, in
appropriate cases, billed for any discrepancies.
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(16)
How do I know if my employer has fulfilled their obligation under the
Collective Bargaining Agreement?
You, as the member, should become aware of your
employer’s obligation in making contributions to the Pension and/or Health
& Welfare Fund. This information is set forth in the collective bargaining
agreement between your Local Union and your employer. If you have any questions as to whether or not your company
is required to make contributions under certain circumstances such as workmen's
compensation, weekly disability, overtime etc., you should contact your Business
Agent or Local Union.
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(17) How do I
sign up for Direct Deposit ?
In order to sign up for Direct Deposit, you
simply need to access and complete the form for Direct
Deposit and return it to our office. Once we receive the properly
completed form, we will process your request. Keep in mind that this process
will take approximately one to two pay cycles depending on what time of the
month we receive your request. In the meantime, your check will be mailed
directly to your home.
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(18)
If I am on Direct Deposit, do I need to notify you if I should move?
Yes, the Fund will still need a way to get in
touch with you for various reasons such as update letters, Fund’s financial
statements and especially for the mailing your own 1099R at the end of the year.
For security purposes, any changes of address must be sent in writing, signed by
the member or accompanied by a Durable Power of Attorney.
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(19)
How do I change the amount of taxes being withheld on my pension check
?
Just complete the W4-P in
the Forms Gallery and return it to our office. It’s that simple!
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(20)
I need to change my Beneficiary for my Death Benefit?
In order to change your beneficiary, simply
access the beneficiary designation form directly from the Forms Gallery.
Compete the form and return it to our office. Because the Spouse Death
Benefit is only payable if the member is still living at the time of the
spouse’s death, the spouse is not able to name a beneficiary. Keep in mind
that NOT all retirees are eligible for these death benefits. To find out if you
are eligible, contact the Pension Fund at 1-800-523-2846 ext. 1905.
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(21)
What should my family do in the event of my death?
The family should contact the Fund office as
soon as possible so they can be advised as to what documents are required for
the processing of the death benefit, if any, or survivorship Pension
Benefits,
if any.
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(22)
Does the Fund offer any type of medical coverage after I retire?
No. However,
if you participated in the Health & Welfare Fund, you are permitted to
“run out” your active benefit eligibility (without weekly disability or
death benefit coverage). You may
also be able to continue your coverage through the Health & Welfare Fund’s
COBRA Coverage Continuation Program. COBRA questions may be directed to the
Health & Welfare Fund’s COBRA Department at 1-800-523-2846, ext. 1125.
Additionally, The Fund has negotiated certain
types of medical coverage through Independence Blue Cross. This coverage is paid
by the retiree and will, with the retiree’s signed consent, be deducted
directly from the monthly pension check. For more information about these benefits, contact the
Pension Fund at 1-800-523-2846 ext. 1905 for an explanation.
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(23)
If I die as a single member, who will receive my pension?
If you were to die as a single member, your pension
benefit is payable for a period of sixty (60) months only to the
beneficiaries as outlined in the Pension Plan. They are as follows:
surviving spouse, then if none, surviving minor children, then if none,
surviving adult children, then if none, surviving parents, then if none
surviving siblings related by blood through at least on parent or by
adoption.
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