IUOE LOCAL 14-14B
PENSION FUND

 
 
 
PENSION FUND
Highlights of Plan
 
Regular Pension - at age 62 with at least 15 years of credited service; 5 years of which must be Future Service Credit.
 
Disability Award Pension -at any age with at least 10 years of credited service; 5 years of which must be Future Service Credit and further provided that the participant has received a Social Security disability Pension Award.
 
Vested Pension - at age 62 with at least 10 years of Credited Service.
 
Early Retirement Pension - at age 55-62 with at least 15 years of Credited Service.
 
TERMINATION INSURANCE
Benefits to which you are entitled under the Pension Plan are insured by the U.S. Government's Pension Benefit Guaranty Corporation (PBGC)
 
YOUR RIGHTS UNDER ERISA
Federal regulations require the following summary of rights and protections to which every participant in the Plan is entitled under the law (ERISA).
   
   
   
   
   
   
   
   
   
   
   
   
     
     
 
ERISA provides that you, as a plan participant, are entitled to the following:
• Examine, without charge, at the Fund Office all plan documents, including insurance contracts, collective bargaining agreements, and copies of all documents filed by the Plan with the U.S. Department of Labor.
 
• Obtain Copies of all plan documents and other plan information upon written request to the Fund Office.
 
• Receive a summary of the plan's annual financial report.
 
• Get a statement telling you whether you have a right to receive a pension at Normal Retirement Age (62 or, if later, ten years after you become a participant in the Plan).
Pension, Eligibility and Amounts
Eligibility depends on Pension Credits, which are defined in Section 4.01, or Years of Vesting Service, which are defined in Section 4.02.

A Vested Pension shall be payable upon retirement after the Participant has attained Normal Retirement Age as defined in Section 1.13.
 
Husband-and-Wife Pension
The Husband-and-Wife Pension provides a lifetime pension for a married Participant plus a lifetime pension for his (or her) surviving spouse, starting after the death of the Participant.
       
     

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