Retirement Pension Plans

Disability Pension

You may qualify for a disability pension at any age if you meet the following requirements:

• Earned at least 10 pension credits
• Earned 250 hours of service in one of the last three years immediately preceding the date of disability
• Have not retired under a different type of pension
• Determined “totally and permanently disabled” by the Social Security Administration or, if rejected by Social Security, by a physician approved by the Board of Trustees

If you have at least 10 pension credits, your benefit is calculated in the same way as a regular pension.

50% Husband and Wife
Automatic for married participants. Spouse receives 50% of participant’s benefit after their death with no reduction in your monthly payment.

75% Husband and Wife
Optional for any married participant. Spouse receives 75% of benefit. Reduces monthly benefit because it has to cover the spouse‘s expected lifespan at a higher payment level.

100% Husband and Wife
Optional for any married participant. If your spouse outlives you, they get 100% of the benefit. Reduces monthly benefit because it has to cover the spouse‘s expected lifespan at higher payment level.

60 Certain Payments
Automatic for unmarried participants (married participants may jointly elect). Lifetime monthly income. If a participant dies before 5 years of monthly payments, the beneficiary will receive payments for the remainder of the five-year (60-month) period with no reduction in your monthly payment.

120 Certain Payments

Optional for any participant. A reduced monthly benefit payable for your lifetime. If a participant dies before 10 years of monthly payments, the beneficiary will receive payments for the remainder of the 10-year (120-month) period.

Lump-Sum Readjustment Allowance (LSRA)

Optional for any participant. One-time, lump-sum payment up to a $5,000 maximum, resulting in a reduced monthly payment.

Lump-Sum Payment
Automatic for any participant with a benefit that has a present value of $5,000 or less.

Surviving Spouse / Beneficiary Benefits
The Plan provides benefits for your surviving spouse or designated beneficiary in the event of your death. Different benefits are payable based on whether death occurs before or after retirement.

The Fund Office can help your beneficiary through the process of applying for benefits and answering any questions about survivor benefits. To learn more, call 781-272-1000.

Unless you elect not to have taxes withheld, Federal and applicable state income taxes will be automatically withheld from payments that exceed the legal limits. Before deciding to retire or choosing a payment option, you may want to talk to a professional tax advisor.

For more information on your benefits, please download the Pension Fund’s Summary Plan Description.

No. You may begin collecting a pension at a reduced rate as early as age 55, or earlier with a 30-year service pension. After 10 years of work, you may be eligible for a disability pension at any age.

No. You are automatically enrolled in the Pension Plan on the first January 1 or July 1 after you’ve met the service requirements. If you are not married, you should complete a beneficiary designation form and submit it to the Fund Office.

You vest after you have earned 5 pension credits (five years), provided you have earned 250 service hours in 1998 or later.

Your credits earned in a different state could be counted provided the other fund participates in a reciprocal agreement and that you are vested in one fund or the other, or both combined. To participate in a reciprocal agreement, you must have a minimum of one pension credit. Please contact the Fund Office for complete details.

Check out the Member Dashboard to view your total pension credits and vesting service.

All hours over 1,600 in a calendar year beginning in 1984, are counted as bankable hours.

After using any needed banked hours, any leftover banked hours earned before 1/1/2010 will be paid out in your monthly pension.

Yes, you’ll be eligible for a vested pension. You can begin receiving your vested pension benefit any time after you reach age 55, but it will be reduced to provide the benefit as an early retirement pension. Otherwise, you’ll receive your benefit when you reach 65. Keep the Fund Office informed of any address changes so you can apply for and receive your pension when you reach the appropriate age.

Plan benefits and Social Security benefits are separate benefits. The benefits payable under the Plan are in addition to benefits paid under Social Security. Annuity Plan benefits will not reduce your Social Security benefits.

It is 19% (3% per year for age 55 through 59, and 2% per year for age 60 through 61), with credit in 1999 or later. For credit earned after 1/1/2010, it is 30% (3% per year for age 55 through 64).

If you have been married for at least one year at retirement, there is an automatic 50% husband & wife payment option at no cost to you. You may also choose a 75% or 100% split option with a reduction to your monthly benefit. For credit earned after 1/1/2010, the 50% option has a base reduction of 8%, the 75% has a base reduction of 12%, and the 100% option has a base reduction of 16%.

No increase will be made to your monthly payments because of a divorce, and the person who was your spouse when your pension started will still be entitled to the benefit if you should die first. The only exception would be if you were not legally married for at least one year before divorcing; in that case, your former spouse would not be entitled to a benefit unless a Qualified Domestic Relations Order (QDRO) has awarded it to him or her.

Not after your pension starting date. If you divorce and remarry after your pension starting date, the new spouse will not be entitled to any benefits under the split pension you have started receiving.

No. Once you begin to receive your pension, you cannot change to a different payment option.

You must name a beneficiary to receive your pension in the event of your death. The pension is guaranteed to be paid to that named beneficiary for at least 60 months. If you have not collected 60 payments at the time you die, your named beneficiary will receive the remainder of those payments.

Yes. Your pension is always payable for your lifetime, and with a split option, your spouse will receive benefits for their lifetime if you predecease them.

Pension Plan benefits and Social Security benefits are separate benefits. The benefits payable under the Pension Plan are in addition to benefits paid under Social Security. Pension benefits will not reduce your Social Security benefits.

At this time, the Plan does not provide for any cost-of-living increases.

Yes. The IRS limits annual benefits paid from plans such as the Pension Plan, but these limits are quite high. In the unlikely event you are affected by these limits, you will be notified.

Yes. Federal and State taxes apply.

Yes. However, you must notify the Pension Fund Office in writing in advance.

Yes, if you are age 62 or older, you are allowed to work a maximum of 39 hours per month in covered employment while collecting your pension. If you decide to work more, you must contact the Fund Office to have your pension suspended.