| Service | Vested | Partial or Pro-Rata | |
| Age | At any age | Age 55 | Usually age 55 |
| Pension Credits and Other Requirements | - Earned at least ¼ pension credit in 1982 or later. - Accumulated at least 30 pension credits. | - At least 5 years of vesting service for non-bargained participant with at least one hour of service after December 31, 1988. - At least one hour of vesting service after December 31, 1997 for bargained participant. | - Earned credit through another plan that is signatory to the LIUNA National Reciprocal Agreement. - Have not had those hours reciprocated back to this Plan. - Earned at least one pension credit in the MA Laborers' Pension Plan after October 1, 1978. |
| Basic Benefit | Calculated the same way as regular pension. | - 62 or older: calculated the same way as special minimum pension. - Younger than 62: monthly amount is reduced the same as an early retirement pension. | - Refer to Summary Plan Description for complete details. |
| Payment Options Surviving Spouse/Beneficiary Benefits | - 50% Husband and Wife (automatic for married members) - 75% Husband and Wife - 100% Husband and Wife - 60 Certain Payments (automatic for single members) - 120 Certain Payments - Lump-Sum Readjustment Allowance (LSRA) - Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less) |
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Service and Other Pensions
Copyright © 2006 Massachusetts Laborers' Benefit Funds