Application Guide

Retirement Application Guide



Pension Credit Report

Please frequently review your Pension Credit Report for your Pension Credits and the amount of your Estimated Monthly Pension. Contact the Fund Office for your Report.



Full Retirement

A retired vested participant may take an unreduced pension starting at age 62. When you stop working in the plumbing trade for any reason and at any age you should notify the Pension Fund Office.



Early Retirement

A participant may take a reduced early retirement pension starting at any time after attaining 60 years of age and before reaching age 62, with a reduction of 5/9 of 1% for each month early. The maximum reduction is 13 1/3% for a maximum of 24 months early retirement.



Disability Pension

A vested Participant who becomes totally and permanently disabled is eligible to receive upon proper application his/her monthly vested pension benefit, provided the Participant meets the Plan’s required minimum hours of Work in Covered Employment preceding the date of disability.



Working After Retirement

You may work up to 39 hours a month after you retire, providing it is for a Local 130, U.A. contributing contractor; however, if you work outside the established limits, your monthly pension benefit will be suspended during such prohibited employment. After attaining age 65 and before age 70 ½ this rule only applies if you work within the territorial jurisdiction of Local 130. At the time you apply for your pension you will be furnished with a copy of an Important Notice to Participant Regarding Suspension of Pension Benefits, or you may call the Fund Office at any time to receive a copy.



Spousal Benefits

If married at the time you retire and go into pension pay status, there are certain lifetime monthly benefits for your qualified surviving spouse. You will need to make an election of either 50% - 75% or 100%. Also, if you should die at any time after becoming vested, regardless of your age, your qualified surviving spouse, upon proper application will immediately receive a monthly survivor’s benefit for life. A spouse is qualified to receive the survivor benefit if married to you for not less than one year before you go into pay status, or before your death if not in pay status.



Retirement Benefits Begin

You will be eligible to receive a monthly benefit effective the month after you last worked provided you meet the requirements established by the Plan and your application is made within 2 months of your last day; otherwise your benefit is effective the month after proper application is completed.



Processing Of an Application

Your application cannot be processed until after all forms are received, you have completed your last day of work and your employer has submitted your final hours.



First Check

You will receive your first check after your application is approved by the Trustees at their regular monthly meeting.



Pension Benefit Check

Your pension will be payable on the 1st of each month and mailed to you from The Northern Trust Bank.



Direct Deposit

We offer Direct Deposit to your checking/savings account. You can begin at anytime, just mail in a voided check, complete the back of a pension check stub or call the Pension Office for a Direct Deposit form.  Your Pension check will be deposited into your account the first business day of each month.