Benefit
Statements
Plan records are
updated each quarter to reflect employer contributions for the previous quarter.
A
Quarterly
Benefit Statement is mailed
to you four times each year. We encourage you to review this statement and
notify the Retirement Department at the Trust Office if you find any errors or
discrepancies.
The benefit
statement lists, on a year by year basis, the number of hours you worked, the
contributions received by the plan on your behalf, the benefit factor, your
earned monthly benefit, the number of credits you earned, your current status,
your total future and past service, and the total monthly benefit available
through the end of the previous quarter.
In the statement
shown below, the total monthly benefit is the sum of the monthly benefits
earned each year from 1960-2004. The total monthly benefit is the monthly amount
available if you retire at age 65 and select a single life benefit (please see
Retirement Payment
Options),
retire at age 62 under special early retirement, or retire earlier under rule of
80 early retirement. Typically, most participants retire early and select a
payment option that provides for their spouse or other designated beneficiary.
These options reduce the total benefit to compensate for early retirement or the
benefits provided for your spouse or other designated beneficiary.
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