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Contact
the Benefits Department at 1 800 848-1953.You should always have your Social
Security number and your Local Union number available.
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Normal
- On your last day of covered employment.
Vested
- Approximately 1 month prior to reaching age 55.
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The
normal processing of an application takes 90 days.A lot depends on
the response time of the applicant to forward requested forms and information.
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When
your total covered years of service PLUS your age adds up to 85, and you
have a minimum of 10 months of contributions paid on your covered earnings
in the last 24 months of your covered service, you then meet the eligibility
requirement for Rule of 85.
If
you are unsure of your covered years of service, contact the Benefits Department
for a determination of eligibility.
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Contact
the Benefits Department and ask for the person whose name appears at the
bottom of the letter you receive in your application package.
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If
you apply for payment of your pension at age 55, the benefit will be reduced
for early retirement. If you wait until age 65, there will be no early
retirement reduction, but you will have missed out on 10 years of benefit
payments.
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The
Pension Trust does not notify you when you reach age 55. It is your responsibility
to keep the Pension Trust advised of your current address so that we may
contact you with any changes in the Pension Trust.
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The
benefit you accumulate is a retirement benefit. You cannot withdraw any
funds until you reach retirement age and qualify for a benefit.
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Is the money my employer takes out of my check each month paid to the Pension Trust as contributions?
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