GENERAL INFORMATION
WELFARE PLAN
PENSION PLAN
  RETIREMENT DATES
  CREDITED SERVICE
  AMOUNT OF PENSION
  PENSION BENEFITS AT OR AFTER DEATH OF A RETIRED MEMBER
  ADDITIONAL SUPPLEMENTARY BENEFIT
  APPLICATION FOR, AND PAYMENT OF, PENSION
  BREAK IN SERVICE
  NO BREAK IN SERVICE ARRANGEMENT
  DEATH BENEFITS BEFORE RETIREMENT
  TERMINATION BENEFITS
  EMPLOYMENT OF
A PENSIONER
 

DESIGNATION OF
A BENEFICIARY

  GENERAL PROVISIONS
  PENSION PLAN EXCLUDED FROM GROW-IN BENEFITS
  TERMINATION OF PENSION COVERAGE
  GOVERNANCE OF PENSION PLAN AND PENSION FUND
MEMBER BENEFIT BOOKLET
 

 

WELFARE AND PENSION PLANS

Pension Plan

ADDITIONAL SUPPLEMENTARY BENEFIT

Provided the funding of the Plan is adequate and the Trustees approve the payment of unreduced pensions you may be entitled to an additional supplementary benefit .  If you have attained 55 years of age and are retiring early from active employment in the Elevator Industry with 20 or more years of continuous Credited Service immediately before retirement , you will receive an additional supplementary benefit of $400 per month. The benefit will be paid on a monthly basis from the effective date of your pension and cease on the first day of the month following your 65th birthday or with your death (whichever occurs first).

If you have a Spouse when you retire and you die prior to reaching age 65, your Spouse at the time of your retirement will be entitled to receive an additional supplementary benefit equal to 66 2/3% of your additional supplementary benefit, payable until the first day of the month following when you would have attained age 65, or until his or her death (whichever occurs first).

This additional supplementary benefit will not be used in the calculation of any benefit paid on termination of membership or in the calculation of any pre-retirement death or survivor benefit.




 

   

READ CAREFULLY, BUT REMEMBER…

This is a general outline of the Plans and its purpose is to explain as briefly and clearly as possible each of the benefits to which you are entitled. The benefits outlined under the Plans are subject to the terms and conditions of the Plan documents and Group Master Policies. If there is any conflict between this outline and the Plan documents and Group Master Policies, the Plan documents and Group Master Policies will apply in all cases. Also remember that no benefits are guaranteed and that the benefits can be changed by the Trustees at any time.

 
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