Depending on when (what age) you are planning to retire, you must meet different requirements.  For most currently active members, the minimum requirements for each pension type are as follows:

Regular Retirement Benefit

• Age 60*
• Five (5) vesting credits**
• One (1) pension credit

Early Retirement Benefit

This pension benefit allows you to retire earlier in life, but the earlier you take it, the more your benefit is reduced.  Early Retirement benefits are reduced 1/4 % for each month you retire under age 60.

• Age 53, but before age 60*
• Ten (10) pension credits

Special Service Retirement Benefit

This type of retirement is the goal of many laborers.  Special Service Retirement allows you to retire at an early retirement age, but without the early retirement reduction.

• Age 53, but before age 60*
• 30 pension credits

Accrued Vested Retirement Pension Benefit

This rarely used pension type is generally only used if you began your laboring career at a late age and did not get vested for any other type of pension.

• Age 65
• 5 years of participation in this plan
• Not under a break in service

Disability Pension Benefit

Hopefully, you will not need to retire under the disability provisions of the plan.  However, if you do become disabled, you may be able to receive Disability Pension Benefits.  These benefits are automatically recalculated to Early Retirement when you reach age 53*.

• Before age 53*
• 10 pension credits
• “Permanently and totally disabled” as defined by the Pension Fund***
• Worked at least 250 hours in the calendar year in which the disability occurred or in the calendar year immediately preceding.

* To be eligible for Regular Retirement at age 60, Early Retirement at age 53, or Special Service Retirement at age 53, you must have at least 500 hours of contributions at the $1.70 contribution rate (effective May 1995) and an effective date of January 1, 1996 or after.  If you do not meet these requirements, Regular Retirement is age 62, while Early Retirement and Special Service Retirement is age 55.  Additionally, if you do not have 500 hours in 1980 or after, you must be age 65 to receive a Regular Retirement Benefit.  Also, if you do not have 500 hours at the $0.30 rate or higher (effective November 1973), you must be age 60 to receive an Early Retirement Benefit.

** Ten (10) vesting credits are required if you have not accrued at least 500 hours at the $1.70 contribution rate.

*** The term “Permanent and Total Disability” shall mean a condition of an employee which the Trustees find on the basis of medical evidence renders the Employee wholly disabled by bodily injury or disease and will thereby permanently, continuously and fully prevent the Employee, for life, from performing work as a laborer in the industry:  provided, however, no Employee shall be deemed to be permanently and totally disabled for the purposes of this Plan if the disability results from participation in a felonious act, an intentionally self-inflicted injury or service in the armed forces of any country.