Learn more about your retirement benefits
The Fund provides the different kinds of Retirement Benefits described below. Each benefit has its own rules, and you can only receive one Retirement Benefit from this plan. If you qualify for more than one, you will be paid the highest benefit to which you are entitled. Normal retirement age is 65, however, you may be able to draw your pension benefit at a reduced amount as early as age of 57.
The following information is only a summary. Full plan details and rules are available in your Summary Plan Description (SPD) (Forms and Documents or Your Member Dashboard).
To qualify for this benefit, you must have at least 5 years of Vesting service (10 years of vesting service prior to 1999).
The amount is based on the contributions paid by your employer on your behalf while you were a member of the pension plan, your age, and your years of service.
Contributory Credit Pension
To qualify for this benefit, you must have earned at least 20 years of Contributory Credit (some of which must be before 2004), you must have earned at least 1 week or 5 days of Employer Contributions under Schedule B. To determine whether your employer has submitted contributions under Schedule B, please contact us.
The amount is based on your years of contributory credit, your benefit class, your age, and contributions you earned after 2003.
Twenty-Year Service Pension
To qualify for this benefit, you need at least 20 years of total credit, of which at least 10 years must be Contributory Credit. If you left the Fund before age 50 (if you were under age 50 when you had a One-Year Break - the first year with less than 10 weeks or 37 days or 300 hours of contributions), you need at least 30 years of total credit, of which at least 15 years must be Contributory Credit, unless you met the requirements of the Deferred Pension.
The amount is based on your qualifying age, which is the earlier of your age on your retirement date, or your age on December 31 of the first year in which you have a One-Year Break (the first year with less than 10 weeks or 37 days or 300 hours of contributions).
Early Retirement Pension
If your qualifying age is less than 57, the benefit is called the Early Retirement Pension, and the benefit amount is based on your qualifying age in years and months.
A Deferred Pension will allow you to delay your Retirement Benefit to get a higher monthly benefit. Types of Deferred Pensions include the Deferred Pension and Twenty-Year Deferred Pension.
To qualify for a Deferred Pension, you must reach at least age 57 before you have a One-Year Break; and have at least 20 years of credit, of which at least 10 years must be Contributory Credit; or you are at least 50 but less than 57 years of age before you have a One-Year Break, you must have 20 Years of Contributory Credit; or you must have at least 30 years of credit, of which at least 20 years are Contributory Credit.
To qualify for a Twenty-Year Deferred Pension, you must have at least 20 years of Contributory Credit and you must have at least 20 weeks of employer contributions under Schedule B.
The amount is also based on your Benefit Class and your age at retirement.
The Fund has reciprocal agreements with other Teamster pension plans that allow you to become eligible for certain benefits, even if your credit is split between these plans.
To qualify for this benefit you must have 2* or more years of Contributory Credit with this plan and when the credit you earned with this plan is combined with the credit you earned with the other plan which also agrees to participate in a Partial Pension on your behalf, eligibility for one of the following is established:
- Contributory Credit Pension
- Twenty-Year Service Pension
- Monthly Disability Benefit
- 60-Month Benefit; or
- 50% Surviving Spouse Benefit (based on any Contributory Credit Pension or Twenty-Year Service Pension).
*This plan has reciprocal agreements with some plans under which you may qualify for a Partial Pension with less than two years of credit with this plan.
What is a Partial Pension?
A pension in which each plan you've earned credit with pays a portion of that plan’s benefit based on the credit you earned while covered by that plan. When you retire, you’ll receive separate monthly benefit checks from each plan.
Are You Eligible for a Partial Pension?
To find out if you are eligible for a Partial Pension, complete and submit the proper benefit application. You must file an application with each plan in which you earned credit.