PENSION

IMPORTANT UPDATES



Pre-Retirement Seminar Videos


In accordance with the CDC's guidelines and for the safety of our members and staff, Wilson-McShane is not taking walk-ins at this time. If you need to speak with someone at the benefit office, please call (952) 851-5949.

FREQUENTLY ASKED QUESTIONS

You must be an employee of an employer who contributes to the Pension Plan on your behalf. You must also be a member of the International Brotherhood of Electrical Workers Local Union No. 110, AFL-CIO to be eligible. You do not need to complete a form for entry into the Plan. You will automatically become a Participant once you have completed 1,000 Hours of Service in a 12-month period.
You need to become Vested to be eligible for monthly benefits from the Plan. You will have a Vested benefit from the Plan if you have completed at least five (5) year of Vesting Service. You are credited with one year of Vesting Service for each Plan Year during which you complete at least 1,000 Hours. You only earn one year of Vesting Service per year.
Covered Employment means any employment for which contributions are made pursuant to a collective bargaining agreement or other agreement with the Plan.
Accrual Service is used in determining you Pension Benefit. You start earning Accrual Service at the beginning of the Plan Year in which you become a Participant in the Plan. One year of Accrual Service is earned for each Plan Year in which you complete at least 1,800 Hours of Service in Covered Employment. You only earn one year of Accrual Service per year.

  • From November 1, 1976 to September 30, 1995: If you have at least 450 Hours of Service in Covered Employment but no more than 1,800 Hours of Service in Covered Employment, Accrual Service in the Plan Year is the fraction of One Year Accrual Service multiplied by a percentage equal to Hours of Service in Covered Employment divided by 2,000 hours (Hours of Service/2,000).

  • From October 1, 1995 to September 30, 2008:
    If you have at least 450 Hours of Service in Covered Employment but no more than 1,800 Hours of Service in Covered Employment, Accrual Service in the Plan Year is the fraction of One Year Accrual Service multiplied by a percentage equal to Hours of Service in Covered Employment divided by 1,800 hours (Hours of Service/1,800).

  • From October 1, 2008 to current:
    If you have at least 180 Hours of Service in Covered Employment but no more than 1,800 Hours of Service in Covered Employment, Accrual Service in the Plan Year is the fraction of One Year Accrual Service multiplied by a percentage equal to Hours of Service in Covered Employment divided by 1,800 hours (Hours of Service/1,800).
The Plan year is October 1 through September 30.
No. Contributions can only be made by participating Employers who contribute to the Pension Plan.
The Plan does not allow for hardship withdrawals or loans.
You are eligible to begin receiving benefits upon one of the following events:
  • Normal Retirement:
    • • With no reduction in benefit, this is available at age 65 if you stopped working in Covered Employment.
  • Early Retirement:
    Is one of the following events:
    • • With no reduction in benefit, this is available as early as age 60 if you have at least 10 years of Vesting Service and have had contributions made on your behalf for a minimum of 1,000 Hours of Service in the Plan Year immediately preceding the Plan Year in which you retire.
    • • With no reduction in benefit, this is available as early as age 58 if you have at least 25 years of Accrual Service and have had contributions made on your behalf for a minimum of 1,000 Hours of Service in the Plan Year immediately preceding the Plan Year in which you retire.
    • • With no reduction in benefit, this is available as early as age 58 through 61, if you have at least 25 years of Accrual Service and have had an average of 1,000 Hours of Service in the five (5) Plan Years immediately preceding the Plan Year in which you retire.
    • • With a reduction in benefit, this is available as early as age 55 if you have at least 25 years of Accrual Service and have had contributions made on your behalf for a minimum of 1,000 Hours of Service in the Plan Year immediately preceding the Plan Year in which you retire.
    • • With a reduction in benefit, this is available as early as age 55 if you have at least 25 years of Accrual Service and have had an average of 1,000 Hours of Service in the five (5) Plan Years immediately preceding the Plan Year in which you retire.
    • • With no reduction in benefit, this is available as early as age 62 if you have at least 10 years of Vesting Service, but prior to Normal Retirement Age, if you stopped working in Covered Employment.
  • Disability Retirement:
    You will be eligible to receive a disability benefit if you meet the eligibility requirements as outlined in the Plan. For further information, please refer to your Summary Plan Description.
You should apply for your pension at least 90 days prior to your retirement date by completing an Application for Benefits and submitting it to the Fund Office. You can start the process up to 180 days prior to your retirement date.
You will need to submit a photocopy of your birth certificate and if you have been divorced, you will need to submit photo copy of your divorce decree(s). In addition, if you are married, you need to submit a photocopy of your spouse’s birth certificate and a photocopy of your marriage certificate. If your spouse was previously married, you will need to submit documentation of the name change(s).
Please contact the Fund Office for assistance.
Benefits from the Plan are paid in the form of a monthly lifetime benefit. The Plan offers several different forms of monthly payment options. For further information, please refer to your Summary Plan Description.
No – benefits are paid in the form of a monthly lifetime benefit.
Once you begin to your pension, you are not able to change your benefit election option.
There are a few factors that may influence when you receive your first payment. Mainly, when the Fund Office receives your final hours worked from your employer. Those dates and hours are usually sent to the Fund Office at the end of the month following the month you last worked. Therefore your first payment will be delayed.
You are considered Retired when you have reached retirement age and have Severance of Covered Employment.
If you do not have direct deposit, you will be charged a monthly fee of $35 for a check to be created and mailed.
Your direct deposit will be in your account on the 1st of each month, unless the 1st falls on a holiday, Saturday, or Sunday. If the 1st of the month falls on a holiday or weekend, your check will be deposited into your account on the preceding business day.
Yes. Your monthly pension is considered taxable by the Internal Revenue Service. You can elect to have federal taxes withheld by completing a Tax Withholding Form. The Fund Office does not withhold state income taxes.
To change the amount of the taxes withheld from your pension payment, complete a Tax Withholding Form and return it to the Fund Office.
In order to change your mailing address, you must complete a Change of Address Form. You may print and complete the form, or you may contact the Fund Office and a form will be mailed to you.
Complete a Beneficiary Designation Form and mail to the Fund Office.
Your surviving spouse or beneficiary may be entitled to a death benefit if you pass away prior to receiving benefits from the Plan. The form, amount and commencement date of the benefit payments depend upon various factors, including the date of your death and if you have been married one (1) year period ending on the date of your death. For further information, please refer to your Summary Plan Description.
If you divorce (whether before or after retirement), your spouse may be entitled to receive a portion or all of your pension benefit in accordance with the terms of a Qualified Domestic Relations Order (QDRO). Under the terms of a QDRO, certain payments could be made from your benefits to pay alimony, child support, or marital property rights to your former spouse, child, or other dependent. If you divorce, you must contact the Fund Office to ensure your benefits are paid properly.

A QDRO may affect the amount of pension benefit you will receive or are receiving. A copy of the Fund’s procedures for handling QDROs will be provided to you, free of charge, upon request. If you have questions about QDROs, please contact the Fund Office.
If you have any questions about your eligibility, benefits or claims, contact the Fund Office at (952) 851-5949 or (800) 535-6373.

FORMS AND IMPORTANT DOCUMENTS

Application for Benefits

Pension Beneficiary Designation Form

Tax Withholding Form

Change of Address Form

Summary Plan Description (SPD)


SMM: Amendment
No.13


SMM: Amendment
No.14


SMM: Amendment
No.15


SMM: Amendment
No.16


Annual Funding Notice (AFN)


LIFE EVENTS

Birth or Adoption

You may designate anyone as a beneficiary for death benefits payable for the loss of your life by submitting a Beneficiary Designation Form to the Fund Office.

Marriage

Before Retirement - If you are married while you are working, your qualified spouse becomes your beneficiary for any Plan benefits you have earned. In order for your spouse to be eligible for benefits, you must be legally married to one another under applicable state law or the laws of a foreign jurisdiction for one (1) year. A spouse is also someone who is required to be treated as a spouse or surviving spouse under a Qualified Domestic Relations Order (QDRO).

If you die before your pension benefit begins, your spouse (you must be married throughout the one (1) year period ending on the date of his death) may be eligible to receive a pre-retirement surviving spouse pension or a pre-retirement death benefit.

After Retirement - Your pension benefit is not affected when you marry after you have begun to receive a pension benefit. It is not affected because once you begin to receive a pension benefit, you cannot change the form of payment you are receiving. Your new spouse will not qualify for a benefit regardless of the form of payment you are receiving.

Disability

You will be eligible to receive a disability benefit if you meet the eligibility requirements as outlined in the Plan. For further information, please refer to your Summary Plan Description (SPD).

Moving

If you have recently moved, please complete a Change of Address Form.

Loss of Employment

If your employment is interrupted before you are vested, you may lose your accumulated vesting service and pension credits. However, once you are vested, you will not lose your accumulated vesting service or pension credits. Certain interruptions may not result in a break in service. Some breaks in service do not result in a loss of vesting service and pension credits, but do impact how your benefits are calculated.

Retirement

You are eligible to begin receiving benefits upon one of the following events:

  • Normal Retirement:
    • • With no reduction in benefit, this is available at age 65 if you stopped working in Covered Employment.
  • Early Retirement:
    Is one of the following events:
    • • With no reduction in benefit, this is available as early as age 60 if you have at least 10 years of Vesting Service and have had contributions made on your behalf for a minimum of 1,000 Hours of Service in the Plan Year immediately preceding the Plan Year in which you retire.
    • • With no reduction in benefit, this is available as early as age 58 if you have at least 25 years of Accrual Service and have had contributions made on your behalf for a minimum of 1,000 Hours of Service in the Plan Year immediately preceding the Plan Year in which you retire.
    • • With no reduction in benefit, this is available as early as age 58 through 61, if you have at least 25 years of Accrual Service and have had an average of 1,000 Hours of Service in the five (5) Plan Years immediately preceding the Plan Year in which you retire.
    • • With a reduction in benefit, this is available as early as age 55 if you have at least 25 years of Accrual Service and have had contributions made on your behalf for a minimum of 1,000 Hours of Service in the Plan Year immediately preceding the Plan Year in which you retire.
    • • With a reduction in benefit, this is available as early as age 55 if you have at least 25 years of Accrual Service and have had an average of 1,000 Hours of Service in the five (5) Plan Years immediately preceding the Plan Year in which you retire.
    • • With no reduction in benefit, this is available as early as age 62 if you have at least 10 years of Vesting Service, but prior to Normal Retirement Age, if you stopped working in Covered Employment.

Death

Your surviving spouse or beneficiary may be entitled to a death benefit if you pass away prior to receiving benefits from the Plan. The form, amount and commencement date of the benefit payments depend upon various factors, including the date of your death and if you have been married one (1) year period ending on the date of your death. For further information, please refer to your Summary Plan Description (SPD).

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