• If I am unmarried at the time of my death, is anyone entitled to a benefit?

If you are not married at the time of your death and you have not started to receive your pension payments, no one will be entitled to your pension benefit.

If you are unmarried and your pension has commenced at the time of your death, depending upon the option that you choose at the time of your retirement, your designated beneficiary may be entitled to a benefit upon your death.  For example, if you choose to receive your pension in the form of a ten-year guaranteed pension and you were to die after receiving only six years of pension benefits, your designated beneficiary would receive the remaining four years of pension benefits.  Of course, your benefit would continue for the rest of your life, even after the ten-year guaranteed period, but your designated beneficiary would no longer be entitled to receive any benefits after your death.

  • Why do I need to fill out a Signature Verification Form every year?

For your protection, as well as that of the Fund, it is necessary to confirm that all pensioners and beneficiaries who collect a pension from the Fund are rightfully entitled to such payments.  One way this is monitored is to require signature verification information.

  • If benefits are denied, may the Participant or beneficiary appeal the denial?

Yes.  Any Participant or beneficiary who is denied a benefit has the right to appeal the denial.  For a complete explanation of the appeals procedure, please see "Article XII, CLAIM REVIEW PROCEDURES" of the Summary Plan Description Booklet.

  • How are Fund Assets Protected?

The Fund Assets are protected in a number of ways.  First, the assets are held in a separate Trust that is not part of the assets of either the Union or the employers.  Plan assets are invested by registered Investment Managers.  The Plan is audited every year by a firm of Independent Certified Public Accountants.  In addition, the government requires an annual filing, the Form 5500 that is a public document detailing the financial condition of the Fund.  Within this filing, certain actuarial calculations are required to ensure the soundness of the Fund with respect to the ability to pay pension benefits that have been promised to Vested Participants and Pensioners.  Finally, the Pension Benefit Guarantee Corporation insures certain benefits provided under the Plan, thus guaranteeing that if the Plan, for some reason, does not have enough money to pay benefits, the PBGC will pay these benefits to a certain degree.

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