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Areas of Interest


Taking the Mystery
Out of Retirement Planning

U.S. Department of Labor Employee Benefits Security Administration has provided a publication to better understand retirement planning.  The link above takes you directly to an online version, including interactive worksheets that you complete as you read each chapter.  You can also download the fully illustrated 62 page Adobe PDF narrative.

"It's not going to be your parents' retirement, rewarded at 65 with a gold watch, a guaranteed pension, and health insurance for life.  For many Americans, retiring in this new century is a mystery..."   ◊ read more

You can contact Social Security online regarding your Social Security Statement (or Personal Earnings and Benefit Estimate Statement).   ◊ read more

Union Plus Retirement Planning Center


On January, 16, 2015, all participants were mailed a Notice to Interested Parties, which advises that the Board of Trustees will be filing an application for determination with the Internal Revenue Service on behalf of the Annuity & Savings Fund on January 29, 2015.  You can also download a copy of this notice here.


Pension Fund

If your employer is reporting pension contributions on your behalf, you can start planning towards that day when you can retire.  You'll want to review your quarterly statements from the Trust Office to verify your employer is reporting the correct hours.  You should also keep your quarterly statements as they can serve as a record of your work history.  Each statement prepared shows your total hours and total contributions since participation.  When the time comes that you are no longer working, if you have not yet retired, you will continue to receive a quarterly statement every three months, up to two years.  If you still have not retired from the Fund, you will be written and advised whether or not you are vested in the Fund.  If you are vested for a future benefit, you will be provided a deferred vested letter showing the amount of your normal retirement benefit.

Commonly Asked Questions

How do I become vested for a pension benefit?  By working at least 1,000 hours for five (5) plan years without a break-in-service, you will be vested for a normal retirement benefit at age sixty-five (65).

How do I qualify for an early retirement pension? By working at least 16,000 hours, you can retire as early as age sixty (60).  When you reach 24,000 hours, you can retire as early as age fifty-five (55).  Keep in mind, for each year early, a reduction of six percent (6%) applies, for example, five (5) years early, a reduction of thirty percent (30%) applies.

Don't Forget This When Working Out-of-State...

When you are in the jurisdiction of another local, make sure you have your hours and contributions transferred back to Local 132.  Waiting until the time of retirement may delay the process and trying to locate hours, years later, may be difficult.

These hours become even more important when you consider the fact that when you accumulate 25,000 hours, your normal retirement age will be lowered by one (1) year.  And, for every additional 5,000 hours, your normal retirement age will be lowered another year.  So it is possible to retire at age fifty-seven (57) with at least 60,000 hours with no early retirement reduction.  An Excellent benefit!