LOCAL 805

PENSION &

RETIREMENT FUND

Summary Plan Description

of the

September 2014

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[inside front cover]

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Important Notice

This booklet is only a summary. The plan document, the legal document 

governing the Plan’s operations, determines your rights under the Local 

805 Pension & Retirement Fund (the “Plan”). In the event of a conflict 

between this booklet and the plan document, the plan document controls. 

You may obtain a copy of the plan document at the Fund Office.

Nothing in this booklet is meant to interpret, extend, delete or change in 

any way, the provisions expressed in the Plan. The Trustees reserve the 

right to amend, modify, merge or discontinue all or part of the Plan whenever, in their judgment, conditions so warrant.

CAUTION

This booklet and the personnel at the Fund Office are authorized sources 

of Plan information. No one else may speak for the Trustees with regard 

to the Plan. No employer, union representative, supervisor or shop steward has authority to determine your rights under the Plan.

Communications

If you have any questions about any aspect of your participation in the Plan, 

you should, for your own records, write to the Fund Office. You will receive 

a written reply, which will provide you with a permanent reference.

Change of Address

If you move, notify the Plan as soon as possible to ensure that you receive 

your benefit and continue to receive important Plan communications.

Change of Family Status

If you get married or divorced or your spouse dies, contact the Plan as 

soon as possible to update the Plan’s records.

Plan Funding Status

As you may know, the Plan’s actuary has certified the Plan to be in critical status under the Pension Protection Act. As a result, the law required 

the Plan to adopt a rehabilitation plan which eliminated some adjustable 

benefits and restricted how the Plan may pay benefits. This summary plan 

description reflects the changes adopted in the rehabilitation plan.

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Entitlement to Statement of Benefits

If you make a written request, up to once per year, the Plan will provide 

you with a statement informing you whether or not you have the right to 

a benefit when you reach Normal Retirement Age and the value of that 

benefit. If you have not yet earned the right to a benefit, the statement will 

tell you how much longer you must work to earn a benefit.

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Contents

General Information...................................................................................1

Rehabilitation Plan.......................................................................3

Eligibility....................................................................................................8

Vesting........................................................................................................8

Breaks in Service...........................................................................8

How You Earn a Benefit...........................................................................11

Benefit Accrual Example.............................................................13

Forms of Benefit.......................................................................................15

Normal Retirement Pension........................................................15

Early Retirement Pension............................................................15

Vested Pension.............................................................................16

Unreduced 25 Year Service Retirement Pension........................17

Unreduced 20 Year Service Retirement Pension........................17

Reciprocal Pensions....................................................................17

Disability Pension........................................................................18

Maximum Benefits......................................................................19

Ways to Take Your Benefit.......................................................................20

Single Life Annuity.....................................................................20

Joint and Survivor Annuities.......................................................20

Deferring Your Pension...............................................................21

If You Die before You Retire....................................................................23

Claiming Your Benefit..............................................................................25

Denials and Appeals.................................................................................27

Qualified Domestic Relations Orders.......................................................29

Working after Retirement.........................................................................30

Requirement to Notify the Trustees............................................30

Legal Notices............................................................................................32

Recovery of Excess or Mistaken Payments................................32

Your Rights Under the Employee Retirement Income

Security Act....................................................................................32

PBGC Information......................................................................35

Glossary....................................................................................................36

Appendix A: YRC Benefits......................................................................39

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General Information

Name of Plan

Local 805 Pension & Retirement Fund

Plan Number: 001

Employer Identification Number: 13-1917612

Type of Plan

Defined Benefit Pension Plan

Plan Year

April 1–March 31

Board of Trustees

Union Trustees Employer Trustees

Alexandra Pope Leonard Schwartz

C/o Local 805 I.B.T. Globe Wholesale Tobacco

21-42 44th Drive, 3rd Floor 5406-08 3rd Avenue

Long Island City, NY 11101 Brooklyn, NY 11220

Andrew Basile John Lagana

C/o Local 805 I.B.T. 20 Normalee Road

21-42 44th Drive, 3rd Floor Staten Island, NY 10305

Long Island City, NY 11101

William O’Bayley Arthur Katz

C/o Local 805 I.B.T. Wholesale Tobacco Association

21-42 44th Drive, 3rd Floor 5402 3rd Avenue

Long Island City, NY 11101 Brooklyn, NY 11220

Charles Cassens Barry Feldman

C/o Local 805 I.B.T. Harold Levinson Associates, Inc.

21-42 44th Drive, 3rd Floor 26 Banfi Place

Long Island City, NY 11101 Farmingdale, NY 11735

Agent for Service of Legal Process

Board of Trustees of Local 805 Pension & Retirement Fund

60 Broad Street, 37th Floor

New York, NY 10004

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Service of legal process may be made upon a Plan trustee or the Plan Administrator. 

Plan Administration

The Plan is operated by a joint Board of Trustees consisting of an equal 

number of union and employer trustees. The Board of Trustees has retained a third party administrator (the “Plan Administrator”) responsible 

for the day-to-day operation of the Plan:

Savasta and Company, Inc.

60 Broad Street, 37th Floor

New York, NY 10004

Plan Funding

The Plan is funded exclusively by contributions made by your employer 

into a trust fund. The total contribution, from all contributing employers, 

is determined by collective bargaining agreements (CBAs). The assets in 

the trust fund are used to pay benefits and reasonable Plan expenses. The 

Plan employs professional investment managers to invest and reinvest the 

assets of the trust fund. You may obtain a copy of such CBA by written 

request to the Plan.

Legal Counsel

Epstein Becker & Green, P.C.

250 Park Avenue

New York, NY 10177

Proskauer Rose LLP

11 Times Square

New York, NY 10036

Actuary

Savasta and Company, Inc.

60 Broad Street, 37th Floor

New York, NY 10004

Auditor

Gould, Kobrick & Schlapp, P.C.

3 Park Avenue, 13th Floor

New York, NY 10016

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Contributing Employers

You may obtain a complete list of contributing employers or find out if a 

particular employer participates in the Plan by contacting the Plan at 60 

Broad Street, 37th Floor, New York, NY 10004. The list is also available 

for examination at the Fund Office.

Trustees’ Reservation of Rights

The Trustees intend to continue the Plan indefinitely, but reserve the right 

to terminate it at any time. The Trustees have the authority to alter, amend, 

delete, cancel or otherwise change Plan benefits at any time by written 

action. If the Plan is terminated, you will cease to earn any additional 

benefits. However, you will be 100% vested in benefits earned to the date 

of termination, and these benefits will be paid to the extent that the Plan’s 

assets are sufficient to pay them. For more information on the benefits 

insured by the PBGC, see “PBGC Information.”

If the Plan terminates, the Plan’s assets will be allocated to pay all of the 

accrued benefits owed by the Plan in certain priority categories as is required by law.

The summary plan description is not a contract for benefits, is not intended to create any contractual or vested rights in the benefits described and 

should in no way be considered a grant of any rights, privileges or duties on 

the part of the Plan or its agents. This summary plan description does not 

constitute an implied or expressed contract or guarantee of employment.

Rehabilitation Plan

The Pension Protection Act of 2006 (“PPA”) requires the Plan’s actuary 

annually to determine the Plan’s financial health under certain standards. 

The Board of Trustees of a multiemployer plan like this one must develop 

a program to improve the financial health of the Plan in the event that the 

Plan is certified by its actuary as being in “critical” status (also known as 

the “red zone”).

The Plan was determined to be in “critical status” in the Plan Year ending 

March 31, 2014 because it was certified to be in critical status during the 

2008-2009 Plan Year and had not yet met the statutory requirements to 

emerge from critical status as of April 1, 2013. In an effort to improve 

the Plan’s funding situation, the Trustees adopted a rehabilitation plan on 

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January 27, 2009. The rehabilitation period is the thirteen year period that 

begins on April 1, 2011 and ends on March 31, 2024. 

The Trustees determined that, based on reasonable actuarial assumptions 

and upon exhaustion of all reasonable measures, the Plan cannot reasonably be expected to emerge from critical status by the end of the rehabilitation period. Therefore, the Trustees adopted a revised rehabilitation plan, 

effective April 1, 2014. The Trustees have formulated three schedules to 

be provided to the bargaining parties: (1) the “Default Schedule”, which is 

required by the PPA; (2) the “Alternative Schedule I”; and (3) the “Alternative Schedule II”. Each of these schedules consists of reasonable measures to enable the Plan to forestall insolvency.

Periodically, the rehabilitation plan has been reviewed and employer contribution rates have been adjusted. You may obtain a copy of the Plan’s 

rehabilitation plan and the actuarial and financial data that demonstrate 

any action taken by the Plan by contacting the plan administrator.

Alternative Schedule I

The changes described in the Alternative Schedule I will take effect upon 

the effective date of a Collective Bargaining Agreement that contains the 

terms that are consistent with Alternative Schedule I.

No Change in Rate of Future Benefit Accruals: The Alternative Schedule 

I does not require a change in the rate of future benefit accruals under the 

Plan.

No Reduction or Elimination of Benefits: The Alternative Schedule I does 

not require a reduction or elimination of benefits under the terms of the 

Plan.

Contribution Rate: The Alternative Schedule I requires that employers 

subject to this schedule contribute to the Plan at the current contribution 

rate per month for each participant.

Alternative Schedule II

The changes described in the Alternative Schedule II will take effect upon 

the effective date of a Collective Bargaining Agreement that contains the 

terms that are consistent with Alternative Schedule II.

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Reduction in Rate of Future Benefit Accruals: For Service Credit that you 

earned prior to the Alternative Schedule II Effective Date, your benefits 

will be determined by using the accrual rate in effect under the Plan at the 

time those benefits were earned. For Service Credit that you earn on or 

after the Alternative Schedule II Effective Date, you will accrue a monthly 

benefit (payable as a single life annuity at Normal Retirement Age) equal 

to $35.00 for the Plan Year beginning April 1, 2014, $35.65 for the Plan 

Year beginning April 1, 2015, $36.40 for the Plan Year beginning April 1, 

2016, $37.10 for the Plan Year beginning April 1, 2017, and $38.25 for the 

Plan Year beginning on April 1, 2018. After April 1, 2019 the accrual rate 

will increase 3% every year. However, notwithstanding the above, the accrual rate will not be greater than $50 or less than the accrual rate in effect 

for your employer as of March 31, 2014. 

Reduction and/or Elimination of Benefits: The Normal Retirement Pension 

payable at Normal Retirement Age is not an adjustable benefit and will not 

be reduced or eliminated. However, the “25 Years-and-Out” pension and the 

“20-Years-and-Out” pension will be eliminated, except as follows:

• A participant who has 20 or more years of Credited Service under the Plan 

as of April 1, 2009 shall continue to be eligible to receive the “25-Yearsand-Out” pension benefit upon the attainment of 25 years of Service 

Credit under the Pension Plan as in effect on March 31, 2009. 

• A participant who has 20 or more years of Credited Service under the 

Plan as of April 1, 2009 shall continue to be eligible to receive the 

“20-Years-and-Out” pension benefit. 

• Accordingly, for individuals who do not have 20 or more years of 

Credited Service under the Plan as of April 1, 2009, both the “20-Yearsand-Out” pension benefit and the “25-Years-and-Out” pension benefit 

will be eliminated. 

Contribution Increase: The Alternative Schedule II requires employer contributions of $291.61 per participant per month for the Plan Year beginning April 1, 2014, $297.44 per participant per month for the Plan Year 

beginning April 1, 2015, $303.39 per participant per month for the Plan 

Year beginning April 1, 2016, and $309.46 per participant per month for 

the Plan Year beginning April 1, 2017. The Alternative Schedule II requires increases of 3% per year, on a compounded basis, in employer contributions for Plan Years beginning on or after April 1, 2018. The employer 

contribution rate will not be less on April 1, 2014 (the date the updated 

rehabilitation plan took effect) than it was on March 31, 2014.

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Default Schedule

The changes contained in the Default Benefit Schedule generally take effect if and when the Default Benefit Schedule is applied to you. The following rules describe when the changes described in the Default Benefit 

Schedule will become effective. That date, which is described below, is 

referred to as the “Default Schedule Effective Date.”

1. If, by the expiration date of a Collective Bargaining Agreement that 

was in effect on April 1, 2008, the bargaining parties failed to adopt a 

contribution schedule that contains terms consistent with the Default 

Schedule, Alternative Schedule I or Alternative Schedule II, then the 

Default Benefit Schedule changes will take effect 180 days later.

2. If the bargaining parties have adopted a contribution schedule that 

contains terms consistent with the Default Schedule prior to the date 

the Default Schedule becomes effective pursuant to number 1 above, 

then the changes required by the Default Schedule will take effect on 

such date.

Reduction in Rate of Future Benefit Accruals: The Default Schedule requires a reduction in the rate of future benefit accruals under the Plan. The 

future benefit accruals of employees subject to the Default Schedule will 

be reduced to a monthly benefit (payable as a single life annuity at Normal 

Retirement Age) equal to one (1) percent of the contributions required to 

be made with respect to such employees under the Collective Bargaining 

Agreements in effect on April 1 2008. For example, for a contribution rate 

of $100 per month, the accrual rate under this Default Schedule would be 

$12 per month for each year of service. For Service Credit that you earned 

prior to the Default Schedule Implementation Date, your benefits will be 

determined by using the accrual rate in effect under the Plan at the time 

those benefits were earned.

Reduction and/or Elimination of Adjustable Benefits: In addition to the reductions in the accrual rate described above, certain other benefits (called 

“adjustable benefits” under the PPA) will be reduced and/or eliminated under the Default Schedule. The Normal Retirement Pension payable at Normal Retirement Age is not an adjustable benefit and will not be reduced 

or eliminated. As of the Default Schedule Effective Date, the following 

adjustable benefits will be eliminated:

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• The 25-Years-and-Out pension benefit

• The 20-Years-and-Out pension benefit

• The Disability Retirement Pension.

Contribution Increase: The Default Schedule requires an increase in employer contributions, on a compounded basis, at 3% per year. This means 

when an employer is subject to the Default Schedule, the employer will be 

required to increase its contributions from the contribution rate in effect 

by 3%. In each successive year during which an employer is subject to the 

Default Schedule, such employer’s contribution rate will increase 3% over 

the prior year’s contribution rate.

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Eligibility

You start participating when you work full-time for a contributing employer

under a collective bargaining agreement and your employer makes contributions to the Plan on your behalf. For employees of the Union or the Local 

805 Welfare Fund or Local 805 Pension Fund, you start participating when 

the Plan receives contributions on your behalf under a participation agreement. There is no minimum service requirement to begin participating in 

the Plan. To find out when your employer will begin making contributions 

on your behalf, refer to the terms of your collective bargaining agreement.

Vesting

When you are vested, you have a non-forfeitable right to receive your 

benefit. If you have worked in covered employment after April 1, 1998, 

you become vested when you reach your normal retirement age or earn 

at least five years of vesting credit, whichever is earlier. Before April 1, 

1998, the Plan required 10 years of vesting credit to vest. Employees of the 

Union or the Local 805 Pension or Welfare Fund become vested upon the 

earlier of reaching normal retirement age or earning five years of vesting 

credit. However, if you have a break in service before you are vested, you 

may lose your benefit. You earn a year of vesting credit for each plan year

you work at least 1,000 hours of service.

Breaks in Service

You experience a one-year break in service if you are not already vested 

and you do not earn at least 501 hours of service in a plan year. If you 

work 501 through 999 hours in a plan year, you will not experience a 

break in service or receive a year of vesting credit.

You experience a permanent break in service if your total consecutive 

one-year breaks in service equals or exceeds the greater of five or the 

years of service credit you already accumulated before the break. When 

you are not yet vested and have a permanent break in service, you lose any 

service credit and vesting credit you had earned and your participation is 

terminated. If you return to work, the Plan considers you a new employee. 

You will not incur a permanent break in service after you become vested, 

eligible for an early retirement pension or eligible for a normal retirement 

pension. 

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Reinstatement of Service Credit after Break in Service

If you experience a permanent break in service and return to covered employment for five years without any further break in service, the Plan will 

reinstate any service credit you lost as a result of experiencing a permanent 

break in service. For restored service credit, your benefits accrue at the 

accrual rate in effect at the time of your permanent break in service.

Grace Periods for Breaks in Service

Sometimes, even if you do not earn at least 501 hours of service in a plan 

year, you will not experience a break in service if you qualify for a grace 

period.

Grace Period for Disability

If you are entitled to be paid by your employer for a period of disability 

caused by an injury on the job and your employer makes contributions to 

the Plan on your behalf during that period, you will receive hours of service for that period, not exceeding six months, as if you had been working.

Grace Period for Maternity or Paternity Leave

You may receive credit for hours of service in order to prevent a break in 

service if you do not complete 501 hours of service in a plan year on or 

after January 1, 1985 because of:

• Your pregnancy

• The birth of your child

• Placement of a child with you for adoption or

• To care for your child following birth or placement for adoption.

If you do not need the hours to prevent a break in service in that plan 

year, you may use them the immediately following plan year. These 

hours only prevent a break in service. They do not count for vesting or 

benefit accrual purposes.

You have two years of vesting credit. After completing 750 

hours of service in the 2015 plan year, you take approved 

maternity leave. Because you do not need more hours of 

service in the 2015 plan year to prevent a break in service, 

you are entitled to up to 501 hours of service in the 2016 

plan year for the purpose of preventing a break in service.

Example:

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Grace Period for Military Service

If you leave covered employment to enter qualified military service, the 

period of service, up to five years, will not be counted as a break in service. Also, if you return to covered employment after you leave military 

service, up to five years of your military service will count towards vesting 

credit to the extent required by USERRA.

For the purpose of determining whether you have vested, if you die while 

on military duty, you will receive years of vesting credit as if you had 

returned to covered employment on the day of your death and died as an 

active employee.

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How You Earn a Benefit

Your service credit determines your eligibility for benefits and the size of 

those benefits. YRC employees have a different formula for determining 

service credit. See Appendix A for more information.

Benefit Accrual Before April 1, 2010: 

Years of Service Credit

Before April 1, 2010, benefits accrued for each plan year you earned at 

least 1,000 hours of service. If you earned less than 1,000 hours of service 

in a plan year, no benefits accrued. A plan year is April 1–March 31.

• For plan years before April 1, 2005, if you worked at least 1,000 hours 

of service, you earned one year of service credit.

• From April 1, 2005 to August 31, 2006, no benefits accrued.

• For the abbreviated plan year from September 1, 2006 to March 31, 

2007, if you worked at least 1,000 hours of service, you earned one 

year of service credit.

• For plan years beginning April 1, 2007, 2008 and 2009, if you worked 

at least 1,000 hours of service, you earned one year of service credit.

For each year of service credit before April 1, 2005 your monthly benefit 

accrued $100. For each year of service credit after April 1, 2006 but before your employer switched to 1% accruals, your monthly benefit accrued 

$50. After your employer switched to 1% accruals, your monthly benefit 

accrued at 1% of your employer’s contribution rate.

Contact the Fund Office to find out when your employer switched to 1% 

accruals and what your contribution rates were.

Benefit Accrual After April 1, 2010: Months of Service 

Credit

After April 1, 2010, benefits accrue for each month that you work at least 

one hour of service. If you do not work in a month, benefits do not accrue 

for that month.

For each month of service credit earned before your employer switched 

to 1% accruals, your monthly benefit accrued 1/12 of $50. After your employer switched to 1% accruals, your monthly benefit accrued at 1% of 

your employer’s contribution rate.

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Contact the Fund Office to find out when your employer switched to 1% 

accruals and what your contribution rates were.

Benefit Accruals for Military Service

You may be entitled to up to five years of service credit for qualified military service in accordance with the Uniformed Services Employment and 

Reemployment Rights Act of 1994 (USERRA) after you return to work.

To be eligible for service credit for a period of military service, you must:

• Be a Plan participant working in covered employment (in other than 

a temporary position) who leaves such employment solely because of 

military service

• Give advance written or verbal notice to your employer and the Union 

(unless such notice is not reasonably possible) and

• Return to covered employment or be available for work after your 

honorable discharge from military service within the time frame allowed by law.

You work full time for three years before leaving work to 

enter qualified military service. After three years in military service, you return to work in covered employment 

within the time period allowed by law. You are vested on 

your return to employment because you receive vesting 

credit for your military service. You also receive 36 months 

of service credit for that time.

You should request service credit as soon as possible after your return from 

military service by contacting the Plan. Any such service credit would be 

based on the estimated number of hours you would have worked in covered 

employment had you not engaged in military service. In all situations, the 

Plan will comply with USERRA and its governing regulations.

Military service under USERRA generally means the performance of duty 

on a voluntary or involuntary basis under competent authority in the United States Army, Navy, Air Force, Marines, Coast Guard or Reserves, and 

also includes the Army and Air National Guards when engaged in active 

duty for training, inactive duty training, or full-time National Guard duty, 

the commissioned corps of the Public Health Service, and any other category of persons designated by the President in a time of war or emergency.

Example:

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Time for Returning to Work after Military Service

Length of Military Service Reemployment Deadline

Less than 31 days 

 

31 through 180 days 

More than 180 days 

Benefit Accrual Example

Because the rate benefits accrue has changed over time, the Plan will calculate your benefit at each rate and add them.

Before April 1, 2005

First, multiply the plan years (April 1–March 31) you earned at least 

1,000 hours of service by $100, the benefit accrual rate at the time. Say 

you worked at least 1,000 hours of service each plan year from April 1, 

2000 through March 31, 2005. Your benefit accrues $100 for each of five 

years of service credit.

5 × $100 = $500

September 1, 2006–March 31, 2010

Next, multiply all the plan years you earned at least 1,000 hours of service

from September 1, 2006 until March 31, 2010 and multiply that number by 

$50, assuming your employer did not yet switch to 1% accruals. You only 

accrue benefits for the plan year beginning on April 1, 2006 if you worked 

1,000 hours of service September 1, 2006 through March 31, 2007. Say 

you worked at least 1,000 hours of service each plan year from April 1, 

2007 through March 31, 2010, but you did not reach 1,000 hours of service

between September 1, 2006 and March 31, 2007. Your benefit accrues $50 

for each of three years of service credit.

3 × $50 = $150

Within 1 day after discharge allowing 

travel time plus 8 hours)

Within 14 days after discharge (unless this is impossible or unreasonable 

through no fault of the employee, then as 

soon as possible)

Within 90 days after discharge or as otherwise by law

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After April 1, 2010

Next, the Plan moved to monthly benefit accrual. Assume your employer 

contributes $417 each month on your behalf. Assuming your employer 

switched to 1% accruals, take all the months you worked at least one hour 

of service after April 1, 2010 and multiply that number by $4.17, which is 

1% of $417. Say you worked 150 months after April 1, 2010 before reaching age 65 and retiring. Your benefit accrues $4.17 for each of 150 months 

of service credit.

150 × $4.17 = $625.50

Finally, add all three numbers to determine your monthly retirement 

benefit.

$500.00 + $150.00 + $625.50 = $1,275.50

This calculated monthly benefit is the amount you receive every month as 

a single life annuity. You would not be eligible for the fixed $2,100 normal 

retirement pension because you did not start working until after December 

31, 1998. If your benefit is paid in another form, such as a joint and survivor annuity, your monthly payment will be lower.

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Forms of Benefit

The Plan offers several ways to retire. Your eligibility depends on factors 

such as your age, when you began working and years of service credit. You 

may receive only one form of benefit under this Plan. YRC employees have 

different benefit levels. See Appendix A for more information.

Normal Retirement Pension

When you reach age 65, you may be eligible for a normal retirement pension. To qualify for this benefit:

• You must be at least age 65

• You must have 15 years of service credit and

• You must have satisfied certain contribution requirements set forth in 

the Plan.

If you worked at least one hour of service on or after January 1, 1999, 

the normal retirement pension pays you your unreduced monthly accrued 

benefit. If you worked at least one hour of service on or before December 

31, 1998, you may be eligible for a fixed $2,100 benefit. If you worked 

both before and after January 1, 1999, your benefit is the greater of the two 

methods of calculation.

Important Note: This benefit is unaffected by the rehabilitation plan.

Early Retirement Pension

If you have at least 15 years of service credit, you may be eligible for a 

reduced pension at age 55. To qualify for an early retirement pension:

• You must be at least age 55

• You must have 15 years of service credit and

• You must have met certain contribution requirements set forth in the 

Plan.

If you worked at least one hour of service on or after January 1, 1999, the Plan 

will calculate your benefit the same as the normal retirement pension and actuarially reduce your benefit to reflect your age at retirement. If you worked at least 

one hour of service on or before December 31, 1998, you may be eligible for 

a fixed benefit described below. If you worked both before and after January 1, 

1999, your benefit is the greater of the two methods of calculation.

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Monthly Early Retirement Pension by Age

Age Benefit

 55..........................$ 672

 56..........................$ 737

 57..........................$ 833

58..........................$ 931

59..........................$1,048

60..........................$1,159

61..........................$1,309

 62..........................$1,471

 63..........................$1,638

 64..........................$1,848

Vested Pension

If you have a vested benefit, but do not qualify for any other benefit, you 

may be eligible for a vested pension. To qualify for a vested pension:

• You must not qualify for any other benefit and

• You must be at least age 55

If you worked at least one hour of service on or after January 1, 1999, the Plan will 

calculate your benefit the same as the normal retirement pension and actuarially 

reduce your benefit to reflect your age at retirement. If you worked at least one 

hour of service on or before December 31, 1998, you may be eligible for a fixed 

benefit that is the product of your years of service credit, 1/30 and the benefit listed 

on the following chart. If you worked both before and after January 1, 1999, your 

benefit is the greater of the two methods of calculation.

Monthly Vesting Pension Benefit by Age

Age Benefit

 55..........................$ 672

 56..........................$ 737

 57..........................$ 833

58..........................$ 931

59..........................$1,048

60..........................$1,159

61..........................$1,309

 62..........................$1,471

 63..........................$1,638

 64..........................$1,848

 65..........................$2,100

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After starting work in 1997, you leave covered employment in 2013 at age 43 with 10 years of service credit. 

You take your benefit at age 60. Your monthly benefit would be the greater of $386.30 and your accrued 

monthly benefit, actuarially reduced for age.

10 × 1/30 × $1,159 = $386.30

Unreduced 25 Year Service Retirement Pension

If you have at least 25 years of service credit, you may be eligible for an 

unreduced pension regardless of age. To qualify:

• You must have earned at least 20 years of service credit before April 

1, 2009 and

• You must have at least 25 years of service credit.

Before age 55, the Plan will calculate your benefit the same as the normal 

retirement pension, except that it will only pay your unreduced monthly 

accrued benefit for the years of service credit you earned as of March 31, 

2005. When you reach age 55, the Plan will increase your monthly benefit to reflect any service credit you earned after March 31, 2005. Unlike 

the early retirement pension, there is no actuarial reduction for retirement 

before age 65.

Important Note: See pages 3–7 for a discussion of how the rehabilitation 

plan affects this benefit. 

Unreduced 20 Year Service Retirement Pension

If you have at least 20 (but less than 25) years of service credit before April 

1, 2009, you may be eligible for an unreduced pension regardless of age. If 

you are eligible, the Plan will pay a benefit of $1,250 per month. 

Important Note: See pages 3–7 for a discussion of how the rehabilitation 

plan affects this benefit. 

Reciprocal Pensions

The Plan participates in the National Reciprocal Agreement for Teamster 

Pension Funds. If you lack sufficient years of service credit to be eligible 

for a form of benefit because your employment was divided between different pension plans, you might be eligible for that form of benefit under 

Example:

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this agreement. If you elect to take a reciprocal pension benefit, the Plan 

will first calculate your benefit as if you had earned all your service credit 

in this Plan. Next, the Plan will reduce that benefit, pro rata, based on the 

amount of service you earned with this Plan. If you take a reciprocal pension, you may not take any other benefit for which you might have been 

otherwise eligible.

The Plan will only consider service credit earned at other pension plans 

covered by the National Reciprocal Agreement for Teamster Pension 

Funds. Contact the Plan if you are unsure whether another plan is eligible 

for a reciprocal pension and you think you might be eligible.

You work for 10 years at an employer that contributes 

to another pension plan covered by the National Reciprocal Agreement for Teamster Pension Funds. You 

leave that job and work for an employer covered by this 

Plan for another 15 years. Because your service credit 

from both plans totals 25 years, assuming you earned 

20 years before April 1, 2009, you will be eligible for 

an Unreduced 25 Year Service Retirement Pension. Because you earned 60% of your service credit under this 

Plan, your benefit from this Plan at age 55 will be 60% 

of your unreduced monthly accrued benefit.

Disability Pension

If you have at least 15 years of service credit and become disabled after 

age 55, you may be eligible for a disability pension. To qualify for a disability pension:

• You must have become totally and permanently disabled while working in covered employment and leave employment for that reason

• You must be at least age 55 when you become totally and permanently 

disabled

• You must have at least 15 years of service credit when you terminate 

employment due to your disability and

• You must remain totally and permanently disabled for at least six 

months.

Example:

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If you are eligible, your benefit is equal to the normal retirement pension 

calculated as if you had reached age 65 and retired.

If you terminate employment for any reason other than disability, you will 

not be eligible for this benefit, even if you later become disabled. Only 

the Trustees may determine whether you are totally and permanently disabled for the purposes of this benefit. To determine whether you are totally 

and permanently disabled, the Trustees will consider whether you are unable to engage in any substantial gainful activity by reason of a medically 

determinable physical or mental impairment as determined by the Social 

Security Administration and whether you receive a Social Security disability benefit. They will also consider other evidence you submit with 

your application. If you disagree with the Trustees’ decision, you have the 

right to appeal. For information on how to file an appeal, see “Appealing 

a Decision.”

Important Note: See pages 3–7 for a discussion of how the rehabilitation 

plan affects this benefit. 

Maximum Benefits

Your benefit may not exceed the maximum limitations imposed by the 

Internal Revenue Code and Treasury Regulations. It is unlikely that these 

restrictions will impact you, however the Plan will notify you if you might 

be affected.

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Ways to Take Your Benefit

You have the option to take your benefit in several forms. If you do not 

elect a different option, you will receive your pension benefit in the normal 

form. If you are married, your normal form is a 50% qualified joint and 

survivor annuity. If you are unmarried, your normal form is a single life 

annuity.

Single Life Annuity

A single life annuity pays you a monthly benefit for your life and no further payments to anyone after your death. If you are single, this is your 

normal form of benefit. If you are married, you must obtain written consent from your spouse to elect a single life annuity.

Joint and Survivor Annuities

A joint and survivor annuity pays you a monthly benefit for your life and a 

monthly benefit to your spouse or beneficiary for life, if you die first.

You may elect a joint and 50% survivor annuity, a joint and 75% survivor annuity or a joint and 100% survivor annuity, as described below. By 

choosing a higher survivor annuity, you provide a larger benefit for your 

spouse or beneficiary when you die, but a smaller benefit for yourself.

You should choose your survivor option carefully. You may not cancel or 

change the survivor option or beneficiary you have chosen, except if the 

change is before the effective date of your pension, or as required by law.

Because your benefit is based on your age at retirement and your spouse’s 

or beneficiary’s age, the Plan requires proof of age when you elect a joint 

and survivor annuity.

Joint and 50% Survivor

Under this option, you receive a fixed monthly benefit for the rest of your 

life. On your death, your spouse or beneficiary, if alive, will receive 50% 

of your monthly benefit for life.

Joint and 75% Survivor

Under this option, you receive a fixed monthly benefit for the rest of your 

life. On your death, your spouse or beneficiary, if alive, will receive 75% 

of your monthly benefit for life.

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Joint and 100% Survivor

Under this option, you receive a fixed monthly benefit for the rest of your 

life. On your death, your spouse or beneficiary, if alive, will receive 100% 

of your monthly benefit for life.

Pop-Up Benefits

If you choose a joint and survivor annuity, you have the option to take a 

pop-up benefit. When you choose a pop-up benefit, if your spouse or beneficiary dies before you, your monthly benefit increases to the amount your 

benefit would have been under a single life annuity.

You retire at normal retirement age while married. 

Your single life annuity would pay $1,800 a month. Instead, you elect a joint and 50% survivor annuity with 

a pop-up option that pays you $1,600 a month for your 

life and $800 a month to your spouse after your death. 

You receive $1,600 a month for five years before your 

spouse dies. Your benefit increases to $1,800 per month 

until your death.

Limitations on Annuity Payments to Non-Spouse Beneficiaries

The law limits the maximum period of time the Plan may pay annuity payments to a non-spouse beneficiary. These rules might affect you if there is a 

large age difference between you and your non-spouse beneficiary.

Deferring Your Pension

If you do not want to take your benefit when you first become eligible, you 

may begin pension payments as late as your required beginning date. In 

general your required beginning date is the later of:

• April 1 of the calendar year following the year in which you reach age 

701⁄2 or

• April 1 of the calendar year following the calendar year in which you 

retire.

However, if you are a 5% owner of a contributing employer, your pension 

payments must begin no later than the April 1 of the year following the 

year in which you reach age 701⁄2. 

Example:

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To defer you benefit, simply wait to apply. If you choose to defer your 

benefits, the amount of your monthly benefit will increase to reflect your 

increased age, and you will not be taxed until you receive your benefits. In 

addition, if you continue to work in covered employment, you will continue to accrue benefits.

It is your responsibility to begin receiving benefits by your required beginning date. If you do not begin to receive your benefit by your required 

beginning date, the IRS may impose a 50% excise tax on your benefit.

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If You Die before You Retire

The Plan provides a benefit for your spouse or beneficiary if you die before 

your annuity starting date. Your spouse or beneficiary receives a monthly 

benefit equal to what he or she would have received if you had survived to 

retirement and elected a joint and 100% survivor annuity and died the next 

day. Your spouse must have been married to you for a full year before your 

death to receive this automatic benefit. If you are not married and have not 

designated a beneficiary, the Plan will pay no benefit.

If You Die before Age 55

The Plan provides a benefit for your spouse or designated beneficiary if 

you die before reaching age 55, called a qualified preretirement survivor 

annuity. The Plan will pay your spouse or beneficiary a monthly benefit 

calculated as if you had stopped working on the day of your death, survived to age 55, chose an immediate joint and 100% survivor annuity and 

died the next day. Your spouse or beneficiary may begin receiving this 

benefit when you would have reached age 55 or choose to defer payments 

to a later date. If your spouse or beneficiary dies before payments begin, 

either because he or she died before you would have reached age 55 or 

because he or she deferred the benefit, the Plan does not pay a benefit.

You work in covered employment for 12 years before 

dying at age 49 while married. On the date you would 

have reached age 55, your spouse may apply for a 

benefit.

If You Die after Age 55 but 

before You Begin Receiving Benefits

If you reach age 55, and you die before your annuity starting date and 

you did not elect an early benefit or you deferred your benefit after normal 

retirement age, the Plan provides a benefit for your spouse or beneficiary. 

The Plan will pay your spouse or beneficiary a monthly benefit calculated 

as if you had elected an immediate joint and 100% survivor annuity on the 

day before your death. Your spouse or beneficiary may begin receiving 

this benefit immediately or choose to defer payments to a later date.

Example:

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You work in covered employment for 25 years before 

separating from service at age 63. When you reach age 

65, you choose to defer taking your benefit. At age 67, 

you die while married. Your spouse may apply for a 

benefit immediately.

Example:

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Claiming Your Benefit

Designating a Beneficiary

The Plan will provide you with a beneficiary designation form on request. 

A beneficiary designation is not valid until properly completed and filed. 

You may only change your beneficiary by filing a new beneficiary designation form.

If you are married, your spouse is your designated beneficiary and must 

consent in writing to a designation of another beneficiary. However, if you 

are divorced from your spouse, any designation of your former spouse as 

beneficiary will automatically be revoked. If you get married or divorced, 

or your spouse dies, contact the Plan as soon as possible to update your 

beneficiary designation.

Applying for Benefits

In order to receive any benefits, you must submit a completed application 

form and attach all necessary documentation, including proof of age, and 

spousal consent if applicable. The Plan will only accept your application 

when it has received all necessary information. Begin the application process approximately seven months before the date you wish to retire to 

allow sufficient time to process your application.

If you are married and you request a distribution that requires spousal 

consent, you must provide that consent not more than 180 days before the 

distribution. If your spousal consent is dated more than 180 days before 

the distribution, you must submit a new spousal consent. Spousal consents 

must be in writing, on forms provided by the Plan and witnessed by a 

notary.

The Plan will provide you, no less than 30 days and no more than 180 days 

before your annuity starting date, a written explanation of:

• The relative values of your benefit options

• The terms and conditions of the survivor annuities

• Your right to make, and the effect of an election to waive, the survivor 

annuity

• Your spouse’s rights and

• Your right to revoke an election, and the effect of the revocation.

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The Plan will take the following steps when it receives your application:

• Review your eligibility to receive a pension

• Review the amount of your pension based on records maintained by 

the Plan, the Union and your employer and the information you supply 

on your application and

• Notify you by mail whether the Plan has approved or denied your 

application, and if approved, the amount of your pension and its effective date.

The Trustees have full power, final authority and discretion to interpret and 

apply the Plan, determine eligibility for benefits, determine all questions 

of coverage and to make final decisions on all claims. Any construction 

of the terms of the Plan that is adopted by the Trustees is final and legally 

binding on all parties.

If the Plan requires additional information, please supply it promptly in 

order to allow the Plan to process your benefit application quickly. An 

application for benefits will not be processed until the Plan receives all 

required information.

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Denials and Appeals

If the Plan denies your application for benefits, in whole or in part, it will 

provide you with a written notice within a reasonable time, but not later 

than 90 days (45 days for a disability pension) following the date on which 

your application was filed. The Plan may be entitled to extra time to decide 

your claim if a delay is caused by your failure to provide information necessary to make a decision.

A benefit denial notice will set forth the specific reasons for the denial, 

refer to the specific provisions of the Plan on which the denial is based, describe any additional material or information that might help your claim, 

explain why that information is necessary and describe the Plan’s review 

procedures and applicable time limits, including your right to sue under 

section 502(a) of ERISA.

You have the right to receive, on request and free of charge, reasonable 

access to, and copies of, relevant information regarding a claim determination.

Appealing a Decision

You have the right to appeal an adverse decision. You may submit a written appeal to the Plan no later than 60 days after you receive the denial. 

You have 180 days to appeal a disability benefit decision. You must appeal 

within a time limit to preserve your right to sue the Plan.

Your written appeal should state the reasons for the appeal. This does not 

mean that you need to cite Plan provisions or to make “legal” arguments. 

Clearly state why you believe you are entitled to the benefit you claim or 

why you disagree with the policy, determination or action.

The Trustees will decide the appeal within 60 days of receiving it unless 

special circumstances require an extension (of no more than 60 days). The 

decision will be in writing and will include the specific basis for the decision and specific references to the Plan provisions on which the decision 

was based. The decision of the Trustees is final and binding on all concerned.

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The Trustees can best consider your position if they understand your 

claims, reasons and objections. Include any documents that support your 

claim. The Trustees will consider all comments and documents that support your position, even if they did not have that information when making 

the initial determination.

If you wish to challenge the Trustees’ decision on appeal, you may bring 

a lawsuit under section 502(a) of ERISA.

You must exhaust all your administrative remedies with the Plan before 

you sue for any reason, including recovery of benefits, enforcement of 

rights or clarification of future rights. Any case or controversy arising 

from the operation of the Plan shall be litigated under New York or federal law in the Southern District of New York. You must initiate any 

lawsuit within 12 months of the adverse action.

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Qualified Domestic Relations Orders

In general, you may not assign, mortgage or pledge your retirement benefits. Additionally, you may not borrow against your pension or use it as security for a loan, or transfer or assign your right to your pension. However 

a qualified domestic relations order (QDRO) may require the Plan to pay 

some or all of your benefit to someone else.

A qualified domestic relations order is a judgment, decree or order that:

• Sets a required level of child support, alimony payments, or marital 

property rights to your dependent to be financed through your pension

• Is made pursuant to a state domestic relations law, including a community property law and

• Complies with other technical requirements pursuant to applicable 

law.

A domestic relations order that otherwise satisfies the requirements will 

not fail to be a QDRO:

• Solely because the order is issued after, or revises, another domestic 

relations order or QDRO or

• Because of the time at which the order is issued, including issuance 

after your annuity starting date or after your death.

The Plan will promptly notify you and any alternate payees of the receipt 

of the order and of the fact that the order is being examined to determine 

whether it qualifies as a QDRO. Then, within a reasonable period of time, 

the Plan will notify you and any alternate payee of the determination. If 

you disagree with the Plan’s determination, you may appeal the determination by following the Plan’s appeals procedures. For information on 

how to file an appeal, see “Appealing a Decision.”

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Working after Retirement

After you retire, the Plan may suspend your benefit during any month or 

payroll period you work:

• In an industry covered by the Local 805 Pension & Retirement Fund

• In an occupation covered by the Local 805 Pension & Retirement 

Fund and

• In the same geographical area as covered by the Local 805 Pension & 

Retirement Fund.

The Plan will suspend your benefit if you work at least 40 hours (70 hours 

if you are at least age 50 with 25 years of service credit or at least 65 years 

old with 15 years of service credit). If the Plan does not or cannot determine the number of hours actually worked in a given month or payroll 

period, your benefit may be suspended during any month or payroll period 

you work eight or more separate work shifts.

If the Plan determines that it paid you benefits while they should have been 

suspended, the Plan may recover the overpayments by withholding up to 

100% of your first payment after you retire again and 25% of subsequent 

payments or by taking legal action. For more information on the Plan’s 

right to recover mistaken payments, see “Recovery of Excess or Mistaken 

Payments.”

The Plan will notify you in writing if it will suspend your benefits. You 

have the right to appeal a decision to suspend your benefits within 180 

days of receiving notice. For information on how to file an appeal, see 

“Appealing a Decision.”

Requirement to Notify the Trustees

You must notify the Plan, in writing, within 30 days of beginning work in 

any employment for which your benefits may be suspended, regardless of 

how many hours you work. If you do not notify the Plan of your return to 

work, the Plan will presume you worked enough hours to warrant suspension. You may also ask the Plan if a particular type of work will cause a 

suspension in benefits.

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Effect of Suspension

Your monthly benefit will be permanently withheld for any period for 

which your benefit has been suspended because you returned to work.

You should notify the Plan within 15 days of when you stop working again 

so that your benefit can resume. If you notify the Plan within 15 days, it 

will resume benefit payments on the first day of the third month after you 

stop working again. If you earned more service credit when you returned 

to work, the Plan will adjust your pension benefit to reflect the additional 

service credit.

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Legal Notices

Recovery of Excess or Mistaken Payments

You are entitled only to the amount and form of benefits described in the 

plan document. If you or your beneficiary receives an improper amount 

or benefit from the Plan, the recipient must notify the Plan of the overpayment immediately. You or your beneficiary will be liable for the return of 

the entire overpayment, even if the overpayment was made by no fault of 

your own.

If you or any beneficiary receives an overpayment of benefits, the recipient 

must repay the plan in full as soon as administratively feasible. If you are 

unable to immediately repay, the Plan will reduce or offset any future benefits to recover the overpayment, unless other arrangements can be made 

to the satisfaction of the Trustees for the recovery of the overpayment. To 

the extent permitted by law, the Plan may withhold up to 100% of your 

monthly payments. The Plan may also offset lost interest on the overpayments and any attorney fees and costs incurred as a result of recovering 

the overpayment. The Plan may also file a claim against your estate or any 

other person or entity if amounts are still owed at your death and there 

are insufficient funds, including any death benefits payable to your beneficiary, to recover the overpayment. Any funds owed to the Plan will be 

deducted from any death benefits that may be payable.

The Board of Trustees is authorized to take any necessary action to recover 

overpayments.

Your Rights Under the 

Employee Retirement Income Security Act

As a participant in Local 805 Pension & Retirement Fund you are entitled 

to certain rights and protections under the Employee Retirement Income 

Security Act of 1974 (ERISA). ERISA provides that all plan participants 

shall be entitled to:

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Receive Information About Your Plan and Benefits

Examine, without charge, at the plan administrator’s office and at other 

specified locations, such as worksites and union halls, all documents governing the plan, including insurance contracts and collective bargaining 

agreements, and a copy of the latest annual report (Form 5500 Series) filed 

by the plan with the U.S. Department of Labor and available at the Public 

Disclosure Room of the Employee Benefits Security Administration.

Obtain, upon written request to the plan administrator, copies of documents governing the operation of the plan, including insurance contracts 

and collective bargaining agreements, and copies of the latest annual report (Form 5500 Series) and updated summary plan description. The administrator may make a reasonable charge for the copies.

Receive a summary of the plan’s annual financial report. The plan administrator is required by law to furnish each participant with a copy of this 

summary annual report.

Obtain a statement telling you whether you have a right to receive a pension at normal retirement age and if so, what your benefits would be at 

normal retirement age if you stop working under the plan now. If you do 

not have a right to a pension, the statement will tell you how many more 

years you have to work to get a right to a pension. This statement must be 

requested in writing and is not required to be given more than once every 

twelve (12) months. The plan must provide the statement free of charge.

Prudent Actions by Plan Fiduciaries

In addition to creating rights for plan participants ERISA imposes duties 

upon the people who are responsible for the operation of the employee 

benefit plan. The people who operate your plan, called “fiduciaries” of the 

plan, have a duty to do so prudently and in the interest of you and other 

plan participants and beneficiaries. No one, including your employer, your 

union, or any other person, may fire you or otherwise discriminate against 

you in any way to prevent you from obtaining a pension benefit or exercising your rights under ERISA.

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Enforce Your Rights

If your claim for a pension benefit is denied or ignored, in whole or in part, 

you have a right to know why this was done, to obtain copies of documents 

relating to the decision without charge, and to appeal any denial, all within 

certain time schedules.

Under ERISA, there are steps you can take to enforce the above rights. 

For instance, if you request a copy of plan documents or the latest annual 

report from the plan and do not receive them within 30 days, you may file 

suit in a Federal court. In such a case, the court may require the plan administrator to provide the materials and pay you up to $110 a day until you 

receive the materials, unless the materials were not sent because of reasons 

beyond the control of the administrator. If you have a claim for benefits 

which is denied or ignored, in whole or in part, you may file suit in a state 

or Federal court (after the Plan’s claims procedures have been exhausted). In addition, if you disagree with the plan’s decision or lack thereof 

concerning the qualified status of a domestic relations order or a medical 

child support order, you may file suit in Federal court. If it should happen 

that plan fiduciaries misuse the plan’s money, or if you are discriminated 

against for asserting your rights, you may seek assistance from the U.S. 

Department of Labor, or you may file suit in a Federal court. The court will 

decide who should pay court costs and legal fees. If you are successful the 

court may order the person you have sued to pay these costs and fees. If 

you lose, the court may order you to pay these costs and fees, for example, 

if it finds your claim is frivolous.

Assistance with Your Questions

If you have any questions about your plan, you should contact the plan 

administrator. If you have any questions about this statement or about your 

rights under ERISA, or if you need assistance in obtaining documents 

from the plan administrator, you should contact the nearest office of the 

Employee Benefits Security Administration, U.S. Department of Labor, 

listed in your telephone directory or the Division of Technical Assistance 

and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. 

You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee 

Benefits Security Administration.

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PBGC Information

Your pension benefits under this multiemployer plan are insured by the Pension Benefit Guaranty Corporation (PBGC), a federal insurance agency. A 

multiemployer plan is a collectively bargained pension arrangement involving two or more unrelated employers, usually in a common industry.

Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans that are insolvent. A multiemployer plan is 

considered insolvent if the plan is unable to pay benefits (at least equal to 

the PBGC’s guaranteed benefit limit) when due.

The maximum benefit that the PBGC guarantees is set by law. Under the 

multiemployer program, the PBGC guarantee equals a participant’s years 

of service multiplied by (1) 100% of the first $11 of the monthly benefit 

accrual rate and (2) 75% of the next $33. The PBGC’s maximum guarantee limit is $35.75 per month times a participant’s years of service. For 

example, the maximum annual guarantee for a retiree with 30 years of 

service would be $12,870.

The PBGC guarantee generally covers: (1) Normal and early retirement 

benefits; (2) disability benefits if you become disabled before the plan becomes insolvent; and (3) certain benefits for your survivors.

The PBGC guarantee generally does not cover: (1) Benefits greater than 

the maximum guaranteed amount set by law; (2) benefit increases and new 

benefits based on plan provisions that have been in place for fewer than 5 

years at the earlier of: (i) The date the plan terminates or (ii) the time the 

plan becomes insolvent; (3) benefits that are not vested because you have 

not worked long enough; (4) benefits for which you have not met all of the 

requirements at the time the plan becomes insolvent; and (5) non-pension 

benefits, such as health insurance, life insurance, certain death benefits, 

vacation pay, and severance pay.

For more information about the PBGC and the benefits it guarantees, ask 

your plan administrator or contact the PBGC’s Technical Assistance Division, 1200 K Street, N.W., Suite 930, Washington, D.C. 20005-4026 or 

call 202-326-4000 (not a toll-free number). TTY/TDD users may call the 

federal relay service toll-free at 1-800-877-8339 and ask to be connected 

to 202-326-4000. Additional information about the PBGC’s pension insurance program is available through the PBGC’s website on the Internet at 

http://www.pbgc.gov.

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Glossary

Annuity Starting Date The day of the first calendar month starting 

after you have fulfilled all of the conditions for entitlement to benefits, 

including the filing of an application for benefits.

Beneficiary Any person entitled to receive payments under the Plan after your death.

Break in Service A calendar year in which you work less than 501 

hours of service.

Collective Bargaining Agreement An agreement between the Union 

and an employer which requires contributions to this Plan.

Contributing Employer Any company, which has been accepted by 

the Trustees, that has a collective bargaining agreement with the Union 

that requires contributions to this Plan. Also, other employers who are 

accepted by the Trustees or an employer that is required by law to make 

contributions to the Plan.

Contributions Payments made to the Plan by a contributing employer on your behalf, according to the terms of the collective bargaining 

agreement between your employer and the Union, or the terms of an 

agreement between your employer and the Plan, or as required by law.

Covered Employment Employment for which your employer is required to make contributions to the Plan.

Employee A person employed by a contributing employer.

ERISA Employee Retirement Income Security Act of 1974. This federal 

law governs your rights as a participant.

Hour of Service Each hour for which you are paid, or entitled to payment for the performance of duties for a contributing employer. The term 

hour of service also refers to each hour for which you are paid, or entitled 

to payment, by a contributing employer on account of a period of time 

during which no duties are performed due to vacation, holiday, illness, 

incapacity, layoff, jury duty, military duty or leave of absence. No 

Local 805 Pension & Retirement Fund SPD.indd 36 9/24/2014 1:29:49 PM
37

more than 501 hours of service will be credited for time during which 

no duties are performed for any single continuous period, except as 

required by law.

Normal Retirement Age Age 65.

Participant A pensioner, beneficiary, employee or vested former employee of a contributing employer for whom the employer is required to 

make contributions to the Plan.

Plan Local 805 Pension & Retirement Fund.

Plan Document The legal document adopted by the Trustees establishing and governing the Plan.

Plan Administrator Savasta and Company, Inc., under the direction of 

the Trustees.

Plan Year April 1–March 31.

Qualified Domestic Relations Order (QDRO) A domestic relations 

order issued by a court or other legal authority under state law that creates 

or recognizes an alternate payee’s right to all or some of your benefit and 

which the Plan determines to be qualified.

Qualified Joint and Survivor Annuity An immediate annuity, paid 

to you for life, with a survivor annuity (equal to 50% of your annuity), 

paid to your spouse for life.

Qualified Military Service Service in the uniformed services while on 

active or inactive duty, including training periods. Uniformed services includes the Army, Navy, Air Force, Marines, Coast Guard, Reserves, Army 

and Air National Guards, the commissioned corps of the Public Health 

Service, and any other persons designated by the President under the terms 

and conditions of the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA).

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Qualified Optional Survivor Annuity An alternative immediate annuity, paid to you for life, at your election, with a survivor annuity (equal 

to 100% of your annuity), paid to your spouse for life. The Plan also provides a 75% survivor annuity option.

Qualified Preretirement Survivor Annuity An annuity paid to your 

surviving spouse for life when you die before retirement, beginning when 

you would have reached age 55.

Required Beginning Date April 1 of the calendar year following the 

calendar year in which you reach age 701⁄2, or if later, April 1 of the calendar year following the calendar year in which you retire.

Service Credit The months and years you worked for a contributing employer. This determines how much your employer contributes and the size 

of your benefit.

Spouse The person to whom you are lawfully married.

Trust Agreement The Agreement and Declaration of Trust establishing 

the Local 805 Pension and Retirement Fund.

Trustees The Board of Trustees established by the trust agreement and 

the persons who at any time are acting in such capacity pursuant to the 

provisions of the trust agreement.

Union Local 805, International Brotherhood of Teamsters, AFL-CIO.

Vesting Credit The years you worked for a contributing employer. This 

determines whether you have vested.

YRC Employee An employee of the YRC Worldwide, Inc. Operating 

Companies: YRC Inc., USF Holland, Inc. and New Penn Motor Express, 

Inc.

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Appendix A: YRC Benefits

For the most part, YRC employees have the same benefits as other Participants. However, certain areas differ, such as how benefits accrue and the 

unreduced 25 year service retirement pension.

Benefit Accruals

Before April 1, 2010, benefits accrued for each plan year you earned 

at least 1,000 hours of service. If you earned less than 1,000 hours of 

service in a plan year, no benefits accrued. A plan year is April 1–March 

31. When benefits resumed after June 1, 2011, your benefits accrued by 

the month.

• For plan years before April 1, 2010, if you worked at least 1,000 hours 

of service, you earned one year of service credit.

• From April 1, 2010 to May 31, 2011, no benefits accrued.

• After June 1, 2011, if you worked at least one hour of service, you 

earned one month of service credit.

For each year of service credit before April 1, 2010, your monthly benefit 

accrued $100. For each month of service credit after June 1, 2011, your 

monthly benefit accrued 1/12 of $45. 

Unreduced 25 Year Service Retirement Pension

If you have at least 25 years of service credit, you may be eligible for an 

unreduced pension regardless of age. To qualify, you must have at least 25 

years of service credit.

Unlike other Participants, the Plan does not require you to have earned at 

least 20 years of service credit before April 1, 2009. There is no actuarial 

reduction for retirement before age 65.

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