IRON WORKERS LOCAL 17 

PENSION FUND

SUMMARY PLAN DESCRIPTION 

2013 Update 

IW17PF_599
Iron Workers Local 17 Pension Fund 

3250 Euclid Avenue 

Room 150 

Cleveland Ohio 44115 

(216) 241-1086 

Mailing Address: 

PO Box 6327 

Cleveland Ohio 44101-1327 

Board of Trustees 

Union Trustees Employer Trustees 

Timothy McCarthy Gary Knopf 

Richard Jordan Keith LePage 

James Cusick Chuck Fisher 

Daniel Beckett, Alternate Timothy Linville, Alternate 

Fund Administrator 

Edward M. Fox 

Custodian 

Key Bank 

Legal Counsel 

Goldstein Gragel LLC 

Fund Consultant 

The Segal Company 

Fund Auditor 

Tramer, Shore & Zwick 

IW17PF_600
INSIDE THIS BOOKLET 

 Page 

Introduction .................................................................................................................................... 1

Eligibility and Participation ............................................................................................................. 2

Becoming a Participant ............................................................................................................... 2

Naming a Beneficiary .................................................................................................................. 2

Termination of Participation ....................................................................................................... 3

Reemployed Employees .............................................................................................................. 3

Earning Credit For A Pension .......................................................................................................... 4

Benefit Credit .............................................................................................................................. 4

Between May 1, 1965 and April 30, 1985............................................................................... 4

Between May 1, 1985 and April 30, 2005............................................................................... 4

Between May 1, 2005 and April 30, 2006............................................................................... 5

On or After May 1, 2006 ......................................................................................................... 5

Hour Bank.................................................................................................................................... 5

Benefit Credit for Work Before the Contribution Period ........................................................... 6

Benefit Credit for Non-Work Periods Due to Disability .............................................................. 7

Vesting Credit .............................................................................................................................. 7

Loss of Credit Through a Break in Service ................................................................................... 7

General Break In Service Rule ................................................................................................. 8

Temporary Break – One Year Break in Service ....................................................................... 8

Permanent Break in Service AFTER April 30, 1976. ................................................................ 8

Permanent Break-in-Service BEFORE May 1, 1976. ............................................................... 8

Exceptions to the Break in Service Rules .................................................................................... 9

IW17PF_601
Military Service ........................................................................................................................... 9

Reemployment Requirements ................................................................................................ 9

Credit for Military Service ..................................................................................................... 10

Death During Qualified Military Leave ..................................................................................... 10

Pensions ........................................................................................................................................ 12

Vesting ...................................................................................................................................... 12

Regular Pension ........................................................................................................................ 12

Eligibility ................................................................................................................................ 12

Amount ................................................................................................................................. 13

Retirement Delayed Past Age 65 .............................................................................................. 14

Unreduced Early Retirement Pension ...................................................................................... 14

Eligibility ................................................................................................................................ 14

Amount ................................................................................................................................. 15

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

Eligibility ................................................................................................................................ 15

Amount ................................................................................................................................. 15

Deferred Pension ...................................................................................................................... 17

Eligibility ................................................................................................................................ 17

Amount ................................................................................................................................. 17

Service Pension ......................................................................................................................... 17

Eligibility ................................................................................................................................ 17

Amount ................................................................................................................................. 17

Special 30 Year Service Pension ................................................................................................ 18

Eligibility ................................................................................................................................ 18

IW17PF_602
Amount ................................................................................................................................. 18

Total and Permanent Disability Pension ................................................................................... 18

Eligibility ................................................................................................................................ 18

Amount ................................................................................................................................. 19

Definition of Total and Permanent Disability ....................................................................... 19

Recovery From Disability ...................................................................................................... 20

Pro-Rata Pension ....................................................................................................................... 20

Eligibility ................................................................................................................................ 20

Amount ................................................................................................................................. 21

Forms of Benefit Payment ............................................................................................................ 23

Single-Life Annuity .................................................................................................................... 23

50% Husband-and-Wife Pension .............................................................................................. 23

Special Rules for Electing and Rejecting the 50% Husband and Wife Pension ........................ 25

Qualified 75% Husband and Wife Annuity ............................................................................... 26

Small Benefit Cash Out ............................................................................................................. 26

60 Payment Guarantee ............................................................................................................. 26

Lump-Sum Payment Option ...................................................................................................... 28

Effect of Legal Separation or Divorce on Your Pension Rights ................................................. 28

Death Benefits............................................................................................................................... 29

Pre-Retirement Surviving Spouse Benefit ................................................................................ 29

Death Benefits for Survivors of Unmarried Vested Participants. ............................................. 30

Deferring Payment of Pre-Retirement Survivor Annuity .......................................................... 31

Post-Retirement Death Benefits ............................................................................................... 31

Applying For Benefits .................................................................................................................... 33

IW17PF_603
Receiving Payment of Benefits ................................................................................................. 33

Information and Proof Required ............................................................................................... 33

Annuity Starting Date or Pension Effective Date ...................................................................... 34

Appealing a Benefit Denial ........................................................................................................ 35

Appeal Decisions ....................................................................................................................... 35

Special Restrictions Regarding Payment of Benefits ................................................................ 36

Current Withholding Requirements ......................................................................................... 37

Work After Retirement ................................................................................................................. 39

Definition of Retirement ........................................................................................................... 39

Suspension of Pension Benefits ................................................................................................ 39

Notification Requirement ......................................................................................................... 41

Application of Benefit Increases ............................................................................................... 42

Recovery of Benefit Overpayments .......................................................................................... 42

Right to Appeal.......................................................................................................................... 43

Advance Determination of Disqualifying Employment ............................................................ 43

Social Security ........................................................................................................................... 43

Administrative Facts ..................................................................................................................... 44

Plan Name ................................................................................................................................. 44

Plan Employer Identification Number ...................................................................................... 44

Plan Number ............................................................................................................................. 44

Plan Year ................................................................................................................................... 44

Type of Plan............................................................................................................................... 44

Plan Sponsor and Administrator ............................................................................................... 44

Type of Administration ............................................................................................................. 44

IW17PF_604
Agent for Service of Legal Process ............................................................................................ 44

Custodian of the Fund ............................................................................................................... 45

Collective Bargaining Agreement ............................................................................................. 45

Source of Contributions ............................................................................................................ 45

Contributing Employers ............................................................................................................ 46

Sole Determination By Trustees ............................................................................................... 46

Plan Documents ........................................................................................................................ 46

Right to Change or Terminate the Plan .................................................................................... 46

Non-Assignment of Benefits ..................................................................................................... 47

Qualified Domestic Relations Order (QDRO) ............................................................................ 47

Approval By the IRS ................................................................................................................... 47

Maximum Contributions ........................................................................................................... 48

Pension Benefit Guaranty Corporation ........................................................................................ 49

Your ERISA Rights .......................................................................................................................... 50

Receive Information About Your Plan and Benefits ................................................................. 50

Prudent Actions by Plan Fiduciaries ......................................................................................... 50

Enforce Your Rights ................................................................................................................... 51

Assistance With Your Questions ............................................................................................... 51

Pension Plan Terms ....................................................................................................................... 53

IW17PF_605
Introduction 

 The Iron Workers Local 17 Pension Fund (the Pension Fund or Fund) was established as 

the result of the Collective Bargaining Agreement between the Employers and the Union. The 

benefits described in this Booklet apply to Participants as of May 1, 2013. If you left Covered 

Employment before May 1, 2013, your benefits may be different. 

 The Pension Fund is administered by a Board of Trustees made up of representatives of 

the Union and Employers. They serve without compensation. The Pension Fund is a separate 

trust fund that pays the benefits provided for by the formal rules and regulations set forth in 

the Iron Workers Local 17 Pension Plan document (Pension Plan or Plan). The Pension Fund is 

maintained under the Trust Agreement. The Fund and Plan are intended to meet the 

requirements of Sections 401(a) of the Internal Revenue Code (Code) and Employee Retirement 

Income Security Act of 1974 (ERISA), as amended from time to time. The Fund and Plan have

been qualified by the Internal Revenue Service (IRS). 

 You are covered by the Pension Fund if you are an Employee working under a Collective 

Bargaining Agreement between an Employer and the Union providing for contributions to this 

Pension Fund. 

 Only the full Board of Trustees is authorized to interpret the Plan document and 

benefits described in this Booklet. No Employer, or Union, or their representative, in such 

capacity, has the right to interpret this Plan or act on behalf of the Trustees. The Trustees 

reserve the right to amend, modify, discontinue and/or terminate all or any part of the Pension 

Fund or Plan at any time. 

 Please take some time to review this Summary Plan Description (Booklet). This Booklet 

is a general explanation of the Pension Plan document only and does not cover all of the details 

of the Plan. In the event of any conflict between this Booklet and the Pension Plan document, 

the Plan document will be used to decide the conflict. The information in this Booklet 

supersedes any prior materials. If you are married, share the information in this Booklet with 

your spouse. 

IW17PF_606
Eligibility and Participation 

Becoming a Participant 

You become a Participant on the first day of the month following the month in which 

you completed at least 475 Hours of work in Covered Employment during a Plan Year. Once 

you become a Participant in the Pension Plan, you are eligible to earn Benefit and Vesting 

Credit, with which you can earn a right to the benefits provided under the Plan. 

For example, if you began working in Covered Employment in July, 2012 and 

worked at least 475 Hours by December 31, 2012, you would have become a 

Participant in the plan on January 1, 2013 and you would have received pension 

credit and vesting service credit for your work in Covered Employment prior to 

January 1, 2013. 

Naming a Beneficiary 

When your participation begins, you need to complete a Beneficiary designation form. 

You may update your Beneficiary at any time without the consent of the Beneficiary, except in 

the case of your legal spouse, by completing and submitting a new Beneficiary designation 

form. No changes will be effective unless it is received by the Fund Office prior to the time any 

payments are made to the Beneficiary whose designation is on file with the Fund Office. Your 

Beneficiary will receive your pension benefit in the event of your death. 

You may name anyone as your Beneficiary, including a trust. However, any trust you 

designate as a Beneficiary must be a valid trust under applicable state law. In addition, if you 

are married and wish to designate a person other than your spouse as your Beneficiary, your 

spouse must consent to the designation in writing and in the presence of a notary public or 

designated Fund representative. 

 If you do not have a designated Beneficiary(ies) at the time of your death, or your 

Beneficiary is not living at the time of your death, the death benefits will paid to your: 

 Surviving spouse; or if none, 

 Surviving children in equal shares; or if none, 

 Surviving parents in equal shares; or if none, 

IW17PF_607
 Siblings in equal shares. 

If none of the above are living at the time of your death, then no death benefits will be paid by 

the Pension Fund. Contact the Fund Office to obtain a Beneficiary designation form at any time 

you need to change your Beneficiary. 

Termination of Participation 

You will no longer be a Participant after the last day of any Plan Year in which you fail to 

complete at least 300 Hours of work in Covered Employment. This is called a “Break in Service.” 

However, your participation is not terminated if you are vested, which means that you have 

already acquired the right to receive a pension, either immediately or at a later date. 

Reemployed Employees 

If you lose your status as a Participant and then return to work in Covered Employment, 

you will again become a Participant after completing 300 Hours of work in Covered 

Employment within a Plan Year. Your reinstatement will be retroactive to the beginning of that 

Plan Year. If you have not had a Permanent Break in Service, Benefit and Vesting Credits you 

earned previously will also be restored. 

If you have a Permanent Break in Service, all Benefit and Vesting Credits earned prior to 

this Permanent Break in Service are forfeited. 

IW17PF_608
Earning Credit For A Pension 

Benefit Credit 

You can accumulate Benefit Credit two ways: 

1) Credit for Covered Employment during the Contribution Period; and 

2) Credit for Covered Employment before the Contribution Period. 

The Contribution Period is the time during which an Employer contributed to the Pension Fund 

for work you performed under the Collective Bargaining Agreement. 

Benefit Credit is earned during the Contribution Period based on the number of Hours 

you worked in Covered Employment, that is, jobs under contracts requiring Contributions to the 

Pension Fund. In effect, you get one Benefit Credit for a full year of that work, and 

proportionately less credit if you worked less. The amount of Hours that are needed to earn a 

full Benefit Credit have changed over time as follows: 

Between May 1, 1965 and April 30, 1985, you earn Benefit Credit as follows: 

Hours in Covered Employment Each Plan Year Amount of Benefit Credit

Less than 300 Hours 0 Benefit Credit

300 but less than 600 Hours 1⁄4 Benefit Credit

600 but less than 900 Hours 1⁄2 Benefit Credit

900 but less than 1,200 Hours 3⁄4 Benefit Credit

1,200 or more Hours 1 Benefit Credit

Between May 1, 1985 and April 30, 2005, you earn Benefit Credit as follows: 

Hours in Covered Employment Each Plan Year Amount of Benefit Credit

Less than 300 Hours 0 Benefit Credit

300 but less than 600 Hours 1⁄4 Benefit Credit

600 but less than 900 Hours 1⁄2 Benefit Credit

900 but less than 1,200 Hours 3⁄4 Benefit Credit

IW17PF_609
1,200 but less than 1,750 Hours 1 Benefit Credit

1,750 but less than 2,000 Hours 1 1⁄4 Benefit Credit

2,000 Hours or more 1 1⁄2 Benefit Credit

Between May 1, 2005 and April 30, 2006, you earn Benefit Credit as follows: 

Hours in Covered Employment Each Plan Year Amount of Benefit Credit

Less than 300 Hours 0 Benefit Credit

300 but less than 600 Hours 1⁄4 Benefit Credit

600 but less than 900 Hours 1⁄2 Benefit Credit

900 but less than 1,200 Hours 3⁄4 Benefit Credit

1,200 or more Hours 1 Benefit Credit

On or After May 1, 2006, you earn Benefit Credit as follows: 

Hours in Covered Employment Each Plan Year Amount of Benefit Credit

Less than 475 Hours 0 Benefit Credit

475 but less than 950 Hours 1⁄4 Benefit Credit

950 but less than 1,425 Hours 1⁄2 Benefit Credit

1,425 but less than 1,900 Hours 3⁄4 Benefit Credit

1,900 or more Hours 1 Benefit Credit

Hour Bank 

The Hour Bank has been operating since May 1, 1965. Starting with that Plan Year, if 

you worked more than 1,200 ours in Covered Employment, your Hours in excess of 1,200 were 

banked for later use. As of May 1, 2006, the Plan rules changed so only Hours in excess of 

1,900 will be banked for later use. 

For example, if you work 2,100 Hours in covered employment, 200 will be 

banked (2,100 – 1,900 = 200). The maximum number of Hours which can be 

banked for each employee is 1,900, which equals 1 Benefit Credit. If some Hours 

are taken away, the Hour Bank can be replenished up to the 1,900 level. 

The Hours in your Hour Bank are used when the Hours you have worked are not 

sufficient to earn a full Benefit Credit. When this happens, Hours in the bank are added to your 

IW17PF_610
Hours of work for that Plan Year. If there are enough Hours to bring the total to 1,900, you will 

be granted a full Benefit Credit. If there are not enough Hours to bring the total to 1,900, only 

the minimum number of Hours needed to earn 1⁄2 or 3⁄4 Benefit Credit will be deducted. 

However, you must work at least 475 Hours in Covered Employment in order for Hours 

in your Hour Bank to be deducted. If you work less than 475 Hours, no Hours will be deducted. 

If you have Hours in your Hour Bank at the time you retire, you will be given Benefit Credit for 

such Hours in accordance with the credit schedules. The maximum you can earn upon 

retirement is one (1) full Benefit Credit. 

Benefit Credit for Work Before the Contribution Period 

The Trustees recognize that it would be very difficult for an Employee to prove at the 

present time exactly where he worked as an iron worker over the many years before May 1, 

1965. They have established several different ways in which you can prove that you worked 

prior to 1965 in order to obtain Benefit Credit for work before the Plan was formed. 

First, if you establish that during the two-year period from May 1, 1963 through April 

30, 1965, you earned at least $600 in the type of work that would now be considered Covered 

Employment, or in work covered by a Collective Bargaining Agreement of any other Local Union 

affiliated with the International Association of Bridge, Structural, Ornamental and Reinforcing 

Iron Workers (International Union), or in employment with the International Union, you will be 

granted Benefit Credits for these periods before May 1, 1965. 

Second, it is presumed that you were employed in Covered Employment during any Plan 

Year that you were a member of Iron Workers Local 17. You will be credited with one Benefit 

Credit for each Plan Year (May 1 through April 30) that you were a member of Iron Workers 

Local 17 prior to May 1, 1965, or for any part of a Plan Year. 

Third, for any period not covered above, you will be entitled to one Benefit Credit for 

each Plan Year (May 1 through April 30) prior to May 1, 1965, during which you earned $2,000 

in work covered by a Collective Bargaining Agreement of Iron Workers Local 17. 

IW17PF_611
Benefit Credit for Non-Work Periods Due to Disability 

You may also be eligible to receive Benefit Credit for periods when you are not working 

in Covered Employment due to disability. If you are absent from Covered Employment as the 

result of disability for which you receive weekly accident and sickness benefits from the Iron 

Workers Local 17 Insurance Benefit Plan, you will receive credit for 36.538 Hours of 

employment for each week of total disability, not to exceed 950 Hours with respect to that 

disability. 

If you are absent from Covered Employment as a result of disability arising from 

Covered Employment for which temporary and total Workers’ Compensation benefits are paid, 

you will receive credit for 36.538 Hours of employment for each week of total disability, not to 

exceed 950 Hours with respect to that disability. 

Vesting Credit 

You receive credit for one year of Vesting Credit for each Plan Year during the 

Contribution Period in which you worked in Covered Employment for 900 Hours or more. 

Covered Employment is work for an Employer participating in this Plan for which contributions 

are required to be made to the Fund on your behalf. In addition, if you work for a Contributing 

Employer in work not covered by this Plan and that non-covered employment is continuous 

with (immediately before or after) employment with the same employer in Covered 

Employment, your Hours of work in that non-covered employment during the contribution 

Period after April 30, 1976 will be counted towards your Vesting Credit. 

Years of Vesting Credit are used to determine eligibility for a Deferred Pension, not to 

determine the amount of a Deferred Pension. The amount of your Deferred Pension will be 

determined by the amount of Benefit Credit you have earned. 

Loss of Credit Through a Break in Service 

Benefit and Vesting Credits you have earned can be lost or cancelled if you incur a 

“Break in Service” before you have earned at least 5 years of Vesting Credit. There are different 

types of Breaks in Service which each have a different impact on your Benefit and Vesting 

Credits. These are as follows: 

IW17PF_612
General Break In Service Rule 

If you have a One Year Break in Service before earning at least 5 Years of Vesting Credit, 

your Vesting and Benefit Credits will be cancelled. For Participants who have not worked since 

May 1, 1999, they are required to earn at least 10 years of Vesting Credit. However, a Break 

may be temporary and may be repaired by a sufficient amount of subsequent service. A longer 

Break may have a permanent effect.

Temporary Break – One Year Break in Service 

You have a One Year Break in Service if in any Plan Year you fail to complete at least 300 

Hours of work in Covered Employment. 

Permanent Break in Service AFTER April 30, 1976. 

You have a Permanent Break in Service if you have consecutive One Year Breaks in 

Service, including at least one after April 30, 1976, that equal or exceed your number of year of 

Vesting Credit earned. However, you will not incur a Permanent Break in Service after April 30, 

1985 until your consecutive One Year Breaks in Service equal at least five. 

Permanent Break-in-Service BEFORE May 1, 1976. 

You have a Permanent Break-in-Service, if, before May 1, 1976, you failed to earn any 

Benefit Credit in three consecutive years. Those Employees who had a Permanent Break before 

May 1, 1976 will be given credit under the Plan only from the time they returned to work after 

that Break in Service. 

Once you have accumulated at least five (5) years of Vesting Credit, your Credit cannot 

be cancelled. However, this preserving of Credit does not apply to Credit cancelled by a pre1976 Permanent Break in Service. 

For example. If you earned 4 Benefit Credits and then had a 5 Year Break in 

Service (5 consecutive years in which you did not work 300 Hours in Covered 

Employment), and then you return to work under the Fund and earned 6 Benefit 

Credits, you would have 6 Benefit Credits, NOT 10 Benefit Credits. The first 4 

Credits were permanently cancelled because you had a Permanent Break in 

Service (5 consecutive One Year Breaks in Service). 

IW17PF_613
Exceptions to the Break in Service Rules 

You will be granted a “Grace Period” if you are not working in Covered Employment for 

certain reasons, such as disability, military service, parental absence, or if you are working in 

certain other types of employment such as for a government agency or the International Union. 

A “Grace Period” is a period of time which will not be used in determining whether a 

Permanent Break in Service has occurred. The granting of Grace Periods is not intended to add 

to your Benefit Credits, but merely to define the circumstances that will be disregarded in 

determining whether a Break in Service has occurred. 

Military Service 

Service in the Armed Forces of the United States will be credited to the extent required 

by law. To protect your full rights, if you left Covered Employment to enter the Military Service, 

you should apply for re-employment with your Employer within the time prescribed by law. It 

is important for you to bring your claim for credit for Military Service to the attention of the 

Trustees and be prepared to supply the evidence that the Trustees will need in order to 

determine your rights. 

If you leave Covered Employment to enter active service in the Armed Forces of the 

United States, the period of such Military Service, for up to five (5) years, will not be counted 

toward a Break in Service. If you return to Covered Employment (or make yourself available for 

Covered Service) within the time period outlined below, the period of your Military Service will 

be credited toward Vesting Credit. Proof of your Military Service must be submitted to the 

Fund Office in order to receive Vesting Credit and a Grace Period from the Break in Service 

rules. Additionally, effective for any Military Service on or after December 12, 1994, you will 

receive Benefit Credit for your Military Service if you meet the reemployment requirements set 

forth below. 

Reemployment Requirements 

If you return to Work in Covered Employment (or make yourself available for Covered 

Employment) after your honorable discharge from Military Service, the period of such Military 

IW17PF_614
Service will be credited. The time period for a reemployment deadline varies depending upon 

the time period of your Military Service as follows: 

Days of Military Service You must be Reemployed within:

Less than 31 days Next working day after day of discharge

Less than 180 days 14 days from date of discharge

Over 180 days 90 days from date of discharge

You and Your Employer should notify the Fund Office of the reemployment within 30 

days of the date that you are reemployed. 

Credit for Military Service 

 If you reenter Covered Employment on or after December 12, 1994, you will be credited 

with Hours toward Benefit and Vesting Credits for the time you were engaged in Military 

Service. This calculation will only apply if you fail to earn one (1) full Benefit Credit based on 

actual work in a Plan Year. One-twelfth (1/12) of a Vesting Credit and one-twelfth of a Benefit 

Credit will be credited for each month or part of a month spent in Military Service. Your Hours 

will be based on your average Hours worked over the three (3) years prior to entering Military 

Service or, if less, the actual time worked. The funds required to pay for such Hours will be 

allocated from the general assets of the Pension Fund and no individual Employer will be liable 

to make a contribution for these Hours. 

If you claim entitlement to Hours for Military Service, you must submit documentation 

as the Trustees may require to demonstrate your return to Covered Employment in a timely 

fashion that you did not exceed the limitations on the time allowed in Military Service, and that 

your entitlement to benefits has not otherwise terminated in accordance with Federal Law. No 

Hours will be credited to you for Military Service if your separation from the Uniformed Services 

was by a dishonorable or bad conduct discharge, or under other than honorable conditions. 

Death During Qualified Military Leave 

If you die during qualified Military Service, your death will be treated as a death while 

actively employed for purposes of any benefits, including accrual of Benefit Credit related to 

IW17PF_615
the period of qualified Military Service, to which your survivors would have been entitled had 

you resumed employment and then terminated employment on account of death. For 

purposes of determining whether you are entitled to additional Benefit and Vesting Credit due 

to your Military Service, the reemployment requirements listed above will be waived. 

IW17PF_616
Pensions 

The Pension Fund is designed to provide retirement income. Certain rules apply as to 

when you become eligible to receive the pension benefits provided under this Fund. The 

Pension Fund provides six (6) different types of pensions: 

 1) Regular Pension 

2) Early Retirement Pension 

3) Deferred Pension 

4) Special 30 Year Service Pension 

5) Total and Permanent Disability Pension 

6) Pro-Rata Pension 

Vesting 

If you become a Participant in this Pension Fund, work in Covered Employment after 

May 1, 1999 and earn five (5) Vesting Credits, you will be a “vested” Participant. If you have not 

worked in Covered Employment since May 1, 1999, you must have at least ten (10) Benefit 

Credits to become a “vested” Participant. This means that you will be entitled to receive a 

pension from this Fund at the time you meet the eligibility requirements set forth in this section 

of the Booklet. 

An active Participant (one who has not suffered a One Year Break in Service) who retires 

after age 65 with less than the required five (5) years of Vesting Credit, will be fully vested after 

reaching the fifth anniversary of the date he began participating in the Pension Fund, as long as, 

he did not have a Permanent Break in Service. 

Regular Pension 

Eligibility 

You are eligible to retire on a Regular Pension if you are age 65 or older, have at least 

ten (10) Benefit Credits, or if you earned one (1) Hour of Service on or after May 1, 1999, you 

only need five (5) Benefit Credits. 

IW17PF_617
Amount 

The monthly amount of the Regular Pension is based on the number of Benefit Credits 

you have earned multiplied by the rate in effect at the time that the Benefit Credits were 

earned. The rate for Benefit Credits have changed over time. The following schedule outlines 

the Benefit Credits in effect over time: 

Date You Last Worked in Covered Employment Benefit Credit Rate

May 1, 1987 to April 30, 1988 $32.00

May 1, 1988 to April 30, 1989 $37.00

May 1, 1989 to April 30, 1990 $42.00

May 1, 1990 to April 30, 1991 $45.00

May 1, 1991 to April 30, 1995 $60.00

May 1, 1995 to April 30, 1997 $72.50

May 1, 1997 to April 30, 1998 $75.00

May 1, 1998 to April 30, 2000 $85.50

May 1, 2000 to April 30, 2001 $90.00

May 1, 2001 to November 1, 2004 $100.00

On or after November 1, 2004 $50.00

Each time the Benefit Credit rate changed, all current Benefit Credits earned were at the 

new rate. However, in order to bring prior Benefit Credits up to the new higher Benefit Credit 

rate, you must have worked in Covered Employment and earned some Benefit Credits in the 

Plan Year immediately prior to the year of the change. When the Benefit Credit rate was 

reduced for new Credits earned on or after November 1, 2004, all prior Benefit Credits earned 

are frozen at the higher rate. 

For Example. If you started working in 1988 and earned one full Benefit Credit 

each year through 2008, you would have 20 full Benefit Credits. Since you 

earned Benefit Credits in the Plan Years which ended April 30, 2001 and 2002, 

you would be entitled to bring all of your Benefit Credits up to the $100.00 per 

Benefit Credit rate through October 31, 2004. Each Benefit Credit earned from 

November 1, 2004 through April 30, 2008, was at the $50.00 per Benefit Credit 

IW17PF_618
rate. Your monthly pension benefit would be $1,800.00 per month [(16 x 

$100.00) + (4 x $50.00) = $1,800]. 

However, if you did not earn a Benefit Credit in the Plan Year immediately prior to the 

change in the Benefit Credit rate because you were Totally and Permanently Disabled, and you 

had at least some Hours of work in Covered Employment during the prior Plan Year, you would 

still be entitled to move your prior Benefit Credits up to the new higher rate. 

If you retired between January 1, 1994 and May 1, 2009 and you decided to delay your 

retirement beyond age 62, you would have been entitled to an increase in your accrued 

monthly benefit of .25% for each month that your pension has been delayed, up to a maximum 

of 36 months. This increased benefit amount was eliminated for any retirements on or after 

May 1, 2009 and is no longer available. 

If you have not met the requirements for $50.00 or $100.00 Benefit Credit rate 

described above, the Regular Pension amount to which you are entitled will depend upon the 

Benefit Credit rate in effect when you stopped working in Covered Employment. The Fund 

Office will review your work history and advise you of the benefit rate to which you are 

entitled. 

Retirement Delayed Past Age 65 

If you are older than age 65 when you apply for retirement benefits, your monthly 

benefit payment will be the same as the Regular Pension amount; however, it may be 

actuarially adjusted for months that you do not work in Covered Employment or selfemployment in the industry in the geographical jurisdiction of the Union between your normal

retirement age of 65 and your Annuity Starting Date or pension effective date. 

Unreduced Early Retirement Pension 

Eligibility 

If you retired prior to May 1, 2009, you would be eligible to retire on an Unreduced Early 

Retirement Pension if you are between the ages of 62 and 65 and have at least ten (10) Benefit 

Credits. 

IW17PF_619