Following is a list of some of the most frequently asked questions regarding your pension benefits. Please refer to the LDC&C Pension Fund Summary Plan Description (SPD) for a more detailed explanation of all of your pension benefits.

How many pension credits do I have?

• You can also look at option one on your Pension Annual Statement.
• Or you can call the OLFBP Fund Office and ask for the Pension Department.

How can I “cash out” my pension?

• You have to be retirement age and vested. Then your pension will be paid in a monthly benefit.
• You cannot receive a lump sum benefit unless the total amount of your benefit is less than $5,000.00

Can I retire before age 53?

• No, unless you are disabled. The only way you can receive pension benefits prior to age 53 is if you are disabled and approved for a disability pension. 10 pension credits are need for disability pension benefits.
• Otherwise, you need to be at least age 53 (and meet other vesting requirements) to draw Early Retirement.

How much is my pension worth?

• Your pension does not have any value until you are retirement age and have enough pension and vesting credits to retire.
• Your Pension Annual Statements will show the monthly value of your pension to date at Regular Retirement age, assuming you are vested.
• We do not calculate the total value of your pension, just the monthly amount. (Unless, your pension is less than $100.00 per month.)

Will my wife get my pension if I die before I retire?

• Yes, your wife is entitled to your pension if you are vested.

Can I keep my insurance after I retire?

• Yes, you can continue to keep your insurance after you retire if you are eligible for benefits at the time your start to receive your pension.
• The cost of retiree insurance depends on the number of pension credits you have and whether or not you cover your spouse and or dependent children. The more pension credits you have, the cheaper the retiree insurance is.

Can I work and still draw my pension?

• It depends on where you work, what you do, how much you work, and how old you are.
• You cannot work as a laborer or supervise laborers in this Fund’s jurisdiction and still receive your pension check until you are Regular Retirement age (60, 62, or 65 depending on when you last worked).
• After Regular Retirement age, you can only work as laborer (or supervise laborers) up to 39 ½ per month and still receive your pension.
• After age 70 1/2, you can work as many hours as you want and still receive your pension check.
• You can do any other type of work (other than laboring or supervising laborers) without restrictions after you retire without it affecting your pension benefit.
• You can also work outside of the Fund’s jurisdiction without it affecting your pension benefit.
• The Fund’s jurisdiction covers all of Ohio; Boone, Campbell, and Kenton counties in Kentucky; and Belmont, Brooke, and Hancock counties in West Virginia.

Can I buy pension credits?

• No, you must earn pension credits by working.
• The Fund also provides pension credits in certain situations to disabled members and members who are called to active duty in the military.

Who is my beneficiary?

• OLFBP Fund Office policy is to not tell anyone (including members) who is listed as beneficiaries. If you are unsure who you have listed as beneficiaries, please complete a new enrollment card.
• Your beneficiary is the person you name to receive any remaining benefits (if any) after your death. If you are married, your spouse is automatically your beneficiary for pension benefits.

Where is my pension check?

• Pension checks and direct deposit vouchers are mailed the same time every month. Because delays in the postal system may occur, your pension check will not always be received on the same date every month.
• If you check or voucher is “late,” please do not call the OLFBP Fund Office until after your mail runs on the 10th of the month. At that time, a stop pay can be requested for the check. Once our bank has confirmed a stop pay has been placed (usually within 24 hours), we will then issue a replacement check.
• If you have recently changed addresses, your pension could have been suspended if the Fund Office was not notified of the change. If return mail is received and we are unable to contact you, your pension benefit will be suspended until an updated address is submitted.

How can I change my address?

• For your protection, OLFBP requires all address changes be made in writing. Just send a note or Address Change Card to the Fund Office that includes the following:
• Your previous address
• Your new address
• Your telephone number
• Your Social Security number
• Your signature

How can I start direct deposit or change my direct deposit account information?

• You must complete a Direct Deposit Authorization Form and submit it to the Fund Office.

How can I change my federal or state tax withholdings?

• You can make changes to your tax withholdings at any time by completing and sending a new federal (W-4P) or state withholding form to the Fund Office.