Retirement

The Fund Office provides the information you need to apply for your hard-earned retirement benefits. 

Action

The best way to prepare for your retirement is to follow the steps below:

1. Request a Pension Status Statement and a Benefit Estimate from the Fund Office. These statements provide your pension eligibility status, your earned benefit at age 65, and your estimated monthly benefit amount based on the optional forms of payment available under the Plan on your proposed Annuity Starting Date. Be sure to apply for benefits at least three months before your retirement date so payments will begin on time. 

2. Download and fill out the Basic Pension Application or request one from the Fund Office by email, fax or mail. Complete your pension application at least three months before your retirement date so payments will begin on time.

3. Request information on your Defined Contribution Fund account balance from the Fund Office by email, fax, or mail, if you made Pre-tax 401(k) or After-tax Roth 401(k)  contributions, or if you worked for an employer who made contributions on your behalf to a 401(a) account. You may also view or download your Defined Contribution Fund statements at myplan.johnhancock.com or request a copy by calling (833) 388-6466.

4. Complete a Retirement/Disability Distribution Application if you want to withdraw or rollover amounts from your Defined Contribution account. Benefits are payable at the normal retirement age of 65 but may be paid before or after that date based on Plan rules. You may withdraw the full balance in your individual account if you have:

• Reached age 55, and
• Retired from active employment with any participating employers, and 
• Completed an application form. 

5. Decide about health care coverage upon retirement:

• Request a COBRA Continuation Coverage application if you may lose your health coverage because of a Qualifying Event such as retirement, or
• Request an application for coverage under the Pensioners & Surviving Spouses Health Fund if you are eligible. 

Contact the Fund Office for more information about health care decisions, benefits and premium amounts under each available option.

REMINDER: If you are eligible to participate in the Pensioners & Surviving Spouses Health Fund, but initially elect COBRA Continuation Coverage under the Health & Welfare Fund upon retirement, you may not later elect or receive coverage under the Pensioners & Surviving Spouses Health Plan. Similarly, if you initially elect coverage under the Pensioners and Surviving Spouses Plan you may not later elect or receive COBRA coverage under the Health & Welfare Fund.

6. Maintain local union membership in good standing while retired to be eligible for a benefit through the Christmas Bonus Fund.