Pension Types: Unreduced, Reduced, and Disability

• There are three types of pensions available under the plan: unreduced (full pension), reduced, and disability.
• If you leave Covered Employment and do not begin to receive your pension within one year, you will not be eligible for retiree health benefits through the 1199SEIU National Benefit Fund.
• If you are considering delaying the commencement of your pension, you should contact the Pension Fund or discuss this with a Pension Fund Counselor.

Unreduced Pensions

• You may be eligible to retire and receive an unreduced normal retirement pension when you reach "Normal Retirement Age" (age 65) if you are Vested
• If your last Hour of Credited or Vesting Service was on or after July 1, 1998, and you were born before July 1, 1959, you may be eligible to receive an unreduced early retirement pension if you are working in Covered Employment when you reach age 62 and have 20 Years of Credited Service and/or Vesting Service.
• If your last Hour of Vesting Service and/or Credited Service was on or after July 1, 1998, and you were born on or after July 1, 1959, you may be eligible to receive an unreduced early retirement pension if you are working in Covered Employment when you reach age 62½ or older and have 25 or more Years of Credited and/or Vesting Service.

Reduced Pensions

• You may be eligible to retire and receive a reduced early retirement pension if you are at least 55 years old (but not yet 65) and you are Vested.
• An early retirement pension is calculated like a normal retirement pension (based on Credited Service, pay, and the benefit rate in effect when your Covered Employment ends), but the payment is reduced because it starts earlier and is expected to be paid longer.
• Prior to January 1, 2019, your normal retirement pension was reduced 6% for each full year (or 0.5% for each month) by which your actual Retirement date precedes your normal retirement date.
• Effective January 1, 2019, your normal retirement pension will be actuarially reduced by a factor provided by the Fund's actuary based on the months by which your actual Retirement precedes your normal retirement date.
• For early reduced pensions in effect on January 1, 2019, you will receive the better of the two formulas above.
• If you Retire early, but want to receive an unreduced monthly pension payment, you can wait to start receiving your pension until you are 65. Then, there would be no reduction in your pension.
• Deferring your pension will jeopardize your eligibility for retiree health benefits and may not be the best option for you, contact the Pension Fund and talk to a Pension Fund Counselor (see pages 3-4).
• Once you start receiving a pension, the amount of time that you can work in Covered Employment or in a related industry may be limited

Disability Pensions

• You may qualify for a disability pension benefit if you meet all of the following requirements:
  • You have a Total and Permanent Disability, confirmed by your approval for Social Security Disability benefits from the Social Security Administration, and you continue to be eligible for these benefits.
  • You were Vested when the Total and Permanent Disability occurred.
  • The condition or event giving rise to your Total and Permanent Disability occurred on or before your last day working in a Covered Job Category;
  • Your Covered Employment terminated as a result of that condition or event.
• Your disability pension benefit will be paid in an amount equal to the Straight Life Pension with No Survivor option.
• A disability pension benefit is not automatic. You must apply to the Pension Fund for this benefit.
• You may be required by the Pension Fund to re-certify that you continue to qualify for disability benefits through the Social Security Administration.
• Your disability pension benefit will usually start on the effective date of your Social Security Disability payments.
• You may apply later and still be eligible to receive retroactive benefits for up to two years before you filed your application for disability pension benefits with the Pension Fund.
• You cannot receive more than two years of retroactive disability pension benefits, no matter how many years elapse between the effective date of your Social Security Disability payments and the date you file your application for the disability pension benefit with the Pension Fund.
• If you are receiving weekly disability benefits from the 1199SEIU National Benefit Fund or Workers' Compensation payments, your disability pension benefit will not begin until after those benefits have been exhausted up to a maximum of 26 weeks.
• You may apply for an early retirement pension to be paid to you, if you are eligible, while you are waiting for approval of your Social Security Disability benefit.
• Once approved for Social Security Disability, your early retirement pension will be converted to Social Security Disability benefit.
• Please note that the conversion to a normal retirement pension will not happen automatically.
• If your Social Security Disability pension is discontinued or ends before age 65, you will no longer be eligible for a disability pension benefit from the Pension Fund.
• If you have applied for and are eligible for weekly disability benefits from the 1199SEIU National Benefit Fund or Workers' Compensation payments for up to a maximum of 26 weeks, you may not receive normal, early or disability retirement pension payments until the first of the month following the expiration date of that benefit.
• You must apply promptly for a disability pension.
• When you reach age 65, you must apply for a "normal retirement pension."

When Your Pension Begins

• Pension payments start on the first of the month after you do all of the following:
  • Meet the requirements for one of the pensions offered by the Plan
  • Retire (that is, completely withdraw from employment with a Contributing Employer)
  • File a completed application with the Pension Fund on which you have selected the date your pension is to begin, together with information that is required in order to establish and/or maintain your eligibility for a pension and other information that the Retirement Committee may, in its discretion, require.
• If you are receiving weekly disability benefits from the 1199SEIU National Benefit Fund or Workers' Compensation payments for up to a maximum of 26 weeks, you will not be considered Retired until those payments end.

Postponing your pension start date

• If you are Vested, have left Covered Employment, are not in Disqualifying Employment and first apply for your pension after you reach age 65, your pension amount will be actuarially increased by a factor provided by the Pension Fund's actuary.
• Your pension will not be actuarially increased for the period of time you remain in Disqualifying Employment up to April 1st of the calendar year after the year you reach age 70½.
• If you do not file a pension application at age 65, the Pension Fund will presume that you are working in Disqualifying Employment, unless you provide proof to the Pension Fund's satisfaction that you were not working in Disqualifying Employment.
• If you continue to work in Covered Employment and choose to delay the start of your pension past April 1 of the calendar year after the year you reach age 70½, you will receive additional credit and an actuarial increase for each month you worked after April 1.

If you are age 70½ and have not started receiving your pension

• If you are Vested and have stopped working, you will automatically start receiving pension payments by April 1 of the calendar year after the year you reach age 70½.
• The Pension Fund will send you an application with a post-retirement election form to elect a Beneficiary.
• The default election for a married member is the Joint and 50% Survivor option or the Straight Life Pension with No Survivor.
• You may elect to receive your pension by April 1 of the calendar year after the year you reach age 70½ or any month thereafter
• If you are Vested and continue to work in Covered Employment and choose to delay the start of your pension past April 1 of the calendar year after the year you reach age 70½, you will receive additional credit for each month worked and an actuarial increase for the same period due to the delay in receiving your pension.
• If you wish to begin receiving your Pension, you must return a completed application and Beneficiary selection form, which is sent to you at your last known address by the Pension Fund.
• If you stop working, your pension will begin no later than April 1 of the calendar year after the year you stopped working.