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Pension Fund Summary Plan Description (SPD) |
What's New at the Pension Fund
- December 2000 - Retired member (not spouses or beneficiaries) who are receiving a pension benefit will a 13th check
- January 1, 1999 - Retired member (not spouses or beneficiaries) who are receiving a pension benefit will receive a $25.00
increase
- January 1, 1997 - Retired members (not spouses or beneficiaries) who are receiving a pension benefit will receive a $25.00 increase
- January 1, 1995 - A post retirement death benefit in the amount of $2,000.00 will be available to retired members (not spouses or beneficiaries)
- January 1, 1994 - Retired members (not spouses or beneficiaries) who are receiving a pension benefit will receive a $25.00 increase
- January 1, 1993 - Any member retiring on or after January 1, 1993 will have a choice from 6 different forms of payment in which to receive a monthly benefit (Click for the explanations)
- January 1, 1992 - Retired members (not spouses or beneficiaries) who are receiving a pension benefit will receive a $25.00 increase
Early retirement factor is reduced - If you left covered employment on or after January 1, 1992 and retire before the age of 62, the reduction for early commencement of your pension will be reduced only 2% per year for each year that you are younger than
age 62. The previous reduction for early commencement was 4% per year for each year under the age of 62.
- June 1, 1990 - Retired members (not spouses or beneficiaries) who are receiving a pension benefit will receive a $25.00 increase
Early retirement factor is reduced - If you left covered employment between June 1, 1990 and December 31, 1991 and retire before the age of 62, the reduction for early commencement of your pension will be reduced only 4% per year for each year that you
are younger than age 62. The previous reduction for early commencement was 6% per year for each year under the age of 62.
- Sept 1, 1988 - Retired members (not spouses or beneficiaries) who are receiving a pension benefit will receive a $50.00 increase
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