Pension

Earning Pension Credits:

There are two types Pension Credits:

Future Service Credits:

  • Earned while working in the construction industry, after local’s first Collective Bargaining Agreement as a construction labor and contributions are paid by employers on your behalf.
  • Through December 31, 2000-One forth (1/4) of a credit is received for each 250 hours worked, up to 1,000 hours or one (1) year credit.
  • Effective January 1, 2001- One tenth (1/10) of a credit is received for each 100 hours worked, up to 1,000 hours or one (1) year credit.

Past Service Credits:

  • Earned while working prior to the local’s first Collective Bargaining Agreement requiring Pension Fund contributions.

Total Pension Credit:
Determined by adding Past and Future credits. Through December 31, 1985, benefits were paid on twenty five (25) years. After January 1, 1986, no year limitation.

Vesting:
Prior to 12/31/1991- 10 years combined credit: and after 12/31/1991 5 years Future Service Credit if not under a permanent break in service on that date.