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The Steelworkers Pension
Trust was created in1953 by the Upholsterers' International
Union (UIU). In 1985 when the UIU merged with the United Steelworkers
, the USW became the sponsoring union.
Headquartered in Trevose,
Pennsylvania, the Trust is staffed by (32) full time employees.
The clerical employees are represented by the Office
Professional Employees International Union (OPEIU).
Solely funded by employer
contributions negotiated by the union with a minimum of $.20
C/P/H or 2% of gross earnings, the Trust has approximately
56,297 participants, 537 Participating employers, and $2.4
billion in assets.
The Trust is generally a
future service plan with the amount of benefits a retiree
receives dependent directly upon the age of the retiree at the
time of retirement and the total contributions paid into the
Trust by the employer(s) on the service of that retiree while
an employee.
The Trust provides on-site
assistance at no cost to the union.
REMINDER FOR ACTIVE PARTICIPANTS ONLY
If you die and were actively employed by a
participating employer and had been covered under the SPT for at
least 5 years, your spouse, if living, will be paid any death
benefit for which you are eligible. If, however, at the
time of your death you are unmarried or your spouse is deceased,
your death benefit will be paid to any beneficiary you
designate. If you fail to designate a beneficiary, your
death benefit will be paid to the closest living relative in
order of : children, grandchildren, parents.
IF YOU ARE UNMARRIED AND NOT
SURVIVED BY ANY CHILDREN, GRANDCHILDREN OR PARENTS, NO
DEATH BENEFIT WILL BE PAID UNLESS YOU DESIGNATE A BENEFICIARY.
DEATH BENEFIT BENEFICIARY DESIGNATION forms can be found on this
website or by calling the SPT. DON'T DELAY completing this
form.
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