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ABC-NABET RETIREMENT TRUST PLAN – February 2015
Table of Contents
TO ALL PARTICIPANTS
THE RETIREMENT PAYMENTS, IN BRIEF
When Am I Eligible for a Normal Retirement Payment?
What Is the Amount of the Normal Retirement Payment?
When Am I Eligible for a Postponed Retirement Payment?
What Is the Amount of the Postponed Retirement Payment?
What Are My Early Retirement Options?
Early Retirement with 10 years of Service
Early Retirement After Attaining Age 50 with 20 Years of Service
Rule of 85
When Am I Eligible for a Deferred Retirement Payment?
What Is the Amount of the Deferred Retirement Payment?
Is the Amount of the Deferred Payment Retirement Payment Based on Years of Vesting Service?
FUTURE BENEFIT CHANGES
EARNING SERVICE CREDITS
How Are Service Credits Earned for Employment After December 31, 1975?
How Are Service Credits Earned for Employment After January 31, 1963 but Before January 1, 1976?
How Are Service Credits Earned for Employment Before February 1, 1963?
Is There Any Way an Employee Can Receive Service Credit for Time When Not in Bargaining Unit Employment?
WHAT ARE YEARS OF VESTING SERVICE?
BREAKS IN SERVICE
Can Credited Service for Retirement Payments Be Lost or Cancelled?
Protection Against a Break in Service
USE OF UNIT SENIORITY
NORMAL FORMS OF BENEFIT
What Is the Normal Form of Benefit Under the Plan?
What Is the Qualified Joint and Survivor Annuity?
What Happens if Your Spouse Dies?
When Are You Considered Married?
What Happens if You Are Divorced?
What Is a Single Life Annuity?
OPTIONAL FORMS OF BENEFITS
Joint and Survivor Annuity
Annuity with 120 Monthly Payments Guaranteed
Level Payment Taking Social Security into Account
Single Life Annuity
Election of Options
How to Name a Beneficiary
IF YOU DIE BEFORE YOU START TO RECEIVE PAYMENTS
Before You Are Eligible for Retirement Benefits
After You Are Eligible for Retirement Benefits
SUPPLEMENTARY RETIREMENT BENEFITS (VOLUNTARY)
Can You Voluntarily Add to Your Retirement Benefit?
Eligibility to Participate
Enrolling in the Plan
Investment Election Transfers
Distribution of Account
Designating a Beneficiary
APPLYING FOR BENEFITS
How to File an Application for a Pension
When Do Pension Benefits Begin?
Do These Requirements Apply to the Supplementary Portion?
Lump Sum Distributions
SUSPENSION OF BENEFITS UPON REEMPLOYMENT AFTER RETIREMENT
Reemployment in an ABC-NABET Covered Position After Retirement
CLAIMS REVIEW PROCEDURES
What Are the Claims Review Procedures Under the Plan?
Can You Sell, Assign or Pledge Your Right to Benefits?
Do the Plan Benefits Affect Your Social Security?
Are There Any Other Limitations on My Benefits?
PLAN TERMINATION RULES
YOUR RIGHTS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA)
Receive Information About Your Plan and Benefits
Prudent Actions by Plan Fiduciaries
Enforce Your Rights
Assistance with Your Questions
BOARD OF TRUSTEES
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