The Plan Year is the 12-Month Period of time staring July 1 through June 30.
How do my contributions translate into benefits with the Pension Plan?
Currently, once you have $1,400 of contributions, you will earn Credited Service. The more contributions you have in the Plan Year, the more Credited Service you will have the larger your benefit earned in the year will be.
What is Vesting Service?
Vesting Service refers to your non-forfeitable right to receive benefits from the plan when you terminate employment. In general, you are vested in your plan benefit if you are an employee of a Participating Employer on your Normal Retirement date. You are also vested if you earned 5 years of Vesting Service and more than 1 hour of service effective 7/1/1999. Prior to 7/1/1999, you need 10 years of Vesting Service.
What is a Credited Service?
Credited Service is used to calculate the amount of your pension benefit. The more Credited Service you earned, the larger your pension benefit will be. For each calendar year in which a Participating Employer had contributions made to the Pension Plan on your behalf, you shall receive Credited Service based upon your contributions in that Plan Year according to the Plan’s Rules.
What is the Normal Retirement Age?
Normal Retirement Age is the date you reach age 65.
How do I find out how much my pension benefit will be?
Go to Pension Lookup or you may complete and print the Online Benefit Statement Request Form and mail to the fund office at P.O. Box 43170, Phoenix, AZ 85080-3170.
How do I apply for my pension benefit?
Complete and print the Online Pension Benefit Application and mail to the fund office at P.O. Box 43170, Phoenix, AZ 85080-3170.
How do I set up a direct deposit for my pension benefit?
Complete and print the Online Electronic Deposit Authorization Formand mail to the fund office at P.O. Box 43170, Phoenix, AZ 85080-3170.
What if I return to work in the Electrical Industry?
If you return to work in the Electrical Industry, you must notify the Plan’s Administrative Office immediately to examine your file and determine if your pension benefit payments must be suspended while you are engaging in this type of work.
How do I change the bank account information for my direct deposit pension benefit?
Complete and print the OnlineElectronic Deposit Authorization Form and mail to the fund office at P.O. Box 43170, Phoenix, AZ 85080-3170.
How do I change my address?
Complete and print the online Change of Address Formand mail to the fund office at P.O. Box 43170, Phoenix, AZ 85080-3170.
How do I change my Federal Tax Withholding?
Complete and print the Online W-4P Federal Tax Form and mail to the fund office at P.O. Box 43170, Phoenix, AZ 85080-3170.
Can I change my payment type?
No, payment type cannot be changed once the pension starts.
What will happen to my direct deposit pension benefit if the bank account is closed unexpectedly?
Your deposit will be rejected and returned to the Plan. The payment will be re-issued to you either in the form of a check or to your new account on the next available pay cycle.
When do changes need to be received in order for my next monthly benefit to be updated?
The fund office must receive all changes by the 15th of the month in order to be updated for the next monthly benefit.