FAQs

Retirement FAQs

Find Answers to Frequently Asked Questions about Retirement

What can I do to ensure I get the full amount of benefits coming to me when I retire?

Each year you receive an annual statement that shows all of the hours reported on your behalf. You should compare your check stubs each year to this annual statement to verify that all hours you worked have been reported. If hours have not been reported correctly, you should send copies of your check stubs to the Administration Office so that we can bill your employer for the correct hours. This comparison can also be done each month via the Trust website.

What are my responsibilities regarding my pension benefits?

You are required to notify the Administration Office of the following:

• Birth Date
• Address changes
• Name changes
• Marital Status changes (marriage, divorce, death of spouse)
• Beneficiary changes

Can I add money to my pension Plan?

Generally, Taft-Hartley Defined Benefit Plans are funded through employer contributions only. Your employer pays contributions for every hour you work (per your collective bargaining agreement) to finance the Plan. No contributions are required by, or permitted from, you.

When I become deceased, will my spouse automatically get my pension benefits?

• Pre-Retirement Death benefits are generally dependent upon your age and Vesting Credits and in some cases if you were actively employed at the time of death.
• If you retired prior to your death, any Death benefits will be paid based upon the type of benefit you elected at your retirement.
• Contact the Administration Office for more details on your death benefits.

Can I withdraw my pension benefits if I have a financial hardship?

Pension benefits are only payable once you reach the age and service requirements and retire. They are generally a monthly benefit payable for your lifetime.

I am planning on retiring in the next few years. How early should I apply for my retirement?

You can apply up to a maximum of 6 months in advance of your retirement date. However, generally we recommend applying 60 days in advance.

What types of options are available to me at retirement?

Normally if you are married at retirement, you will be offered Spouse Options. This form of payment is reduced according to both you and your spouse's age and provides you a lifetime benefit and your spouse a lifetime benefit following your death.

What types of documents may I need to submit when I apply for retirement?

Depending on your marital status, some or all of the following will be required:

• Birth Certificate (for both you and your spouse)
• Marriage Certificate(s)
• Name change document(s)
• Divorce Decree(s)
• Qualified Domestic Relations Order(s)