When am I eligible for a Regular Pension?
You are eligible to retire on a Regular Pension if you terminate
covered employment on or after your normal retirement age (the later of
age 65 or the fifth anniversary of joining the plan).
What is the amount of the Regular Pension?
The monthly amount is the total of:
- $25.50 times your Pension Credits earned before 1974 but not to exceed $637.50; and
- 0.1900%
of your total annual earnings in Covered Employment (work for which
contributions are payable to the fund) since January 1, 1974.
When am I eligible for a "Special" Early Retirement Pension?
You are eligible to retire on a "Special" Early Retirement Pension
if you are age 55 or older and the combined total of your age and the
Pension Credits that you have earned equals at least 80.
What is the amount of the "Special" Early Retirement?
The amount of the "Special" Early Retirement Pension is calculated
in the same manner as the Regular Pension. There is no reduction in the
monthly benefit because of age.
When am I eligible for an Early Retirement Pension?
You are eligible to retire on an Early Retirement Pension if you are
at least age 55 and have earned at least 10 Pension Credits.
When am I eligible for a Deferred Pension?
You become entitled to a Deferred Pension if you have at least five
years of Vesting Service and were an active participant on or after
January 1, 1990, regardless of your age when you cease to be employed
in a job covered by the Plan. If you left Covered Employment prior to
January 1, 1990, you are entitled to a Deferred Pension if you had at
least ten years of vesting service when you ceased to be employed.
This benefit is referred to as "Deferred Pension" because the actual
payments will not begin until you actually retire. Payments can begin
as early as age 55 only if you have met the Pension Credit requirements
for either the Special or Regular Early Retirement Pension.
When would I be able to retire on a Disability Pension?
You may retire on a Disability Pension if:
- you have at least 10 Pension Credits;
- you are totally and permanently disabled (determined by Social Security); and
- you worked in Covered Employment for at least 500 hours within the 24 months before you became permanently and totally disabled.
What is the amount of the Disability Pension?
The monthly Disability Pension Amount is the same as the Regular
Pension Amount. However, a Disability Pension will commence with the
later of:
- the seventh month following the date the disability began, or
- the month following the month in which your application is filed.
The disability Pension will continue for your life, provided you
remain permanently and totally disabled. If you cease to be permanently
and totally disabled, your Disability Pension will terminate starting
with the first month following the end of the disability.
How is 'total and permanent disability' defined?
You will be deemed totally and permanently disabled only if you have
been awarded and continue to receive Disability Benefits from the
Social Security Administration.
How do I file an application for a pension?
You must file a written application with the Board of Trustees on a
form that will be provided upon request by the Fund Office.
Applications for retirement must be filed in advance of the month when
pension payments are to commence. While the rules require pension
applications to be file in advance, you are urged to file as soon as
you decide on your intended retirement date. Early filing will avoid
delay in the processing of your application and payment of benefits.
Click Here to download a Pension Application.
To view Pension Application Instructions, click Here.
If you have a pension question please call the Funds office at 215-542-8211 or e-mail Maria by clicking Here
