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Pension Plan

 
Working After Retirement

Retirement Before Normal Retirement Age - To be deemed Retired before he has attained Normal Retirement Age, a Pensioner must withdraw completely and refrain from employment or self employment for wages or profit anywhere for which he receives an amount in excess of one day’s pay (as set forth in the Collective Bargaining Agreement) in a calendar month:

  1. In an industry in which Employees were employed and accrued benefits under the Plan as a result of such employment at the time that the payment of benefits to the Pensioner commenced if the Pensioner had not remained in or returned to employment; and
  2. In a trade or craft in which the Pensioner was employed at any time under the Plan.
  3. Exception:
    1. If a Pensioner receiving an Early Retirement or Service Pension becomes employed by a Contributing Employer in work covered by a Collective Bargaining Agreement, he shall be considered “retired” for any month prior to the month in which the cumulative amount of his wages or profit exceeds twelve days’ pay (as set forth in the Collective Bargaining Agreement) in a calendar year.
    2. If a Pensioner receiving a Service Pension becomes employed — performing work solely as an estimator — by a Contributing Employer, his pension payments shall not be suspended for any calendar month in which he is so employed.

After Normal Retirement Age and Before the Required Beginning Date - To be deemed Retired after he has attained Normal Retirement Age, a Pensioner must refrain from employment or self-employment of 40 hours or more during any calendar month:

  1. In an industry in which Employees were employed and accrued benefits under the Plan as a result of such employment at the time that the payment of benefits to the Pensioner commenced or would have commenced if the pensioner had not remained in or returned to employment; and
  2. In a trade or craft in which the Pensioner was employed at any time under the Plan; and 
  3. In the geographical jurisdiction of the Fund.

After Required Beginning Date – A Pensioner shall be deemed Retired upon attainment of his Required Beginning Date (as defined in Section 1.27) irrespective of the type of employment performed.

For purposes of this Section, prohibited employment shall include any work of the type now covered by a Collective Bargaining Agreement between parties who participate in this pension Fund or which may be covered by such a Collective Bargaining Agreement in the future as an employee of public, private, charitable or non-profit employers, or as a self-employed person, whether performed as a management level employee or otherwise and shall include such jobs as superintendent.

Exception: Notwithstanding the above, if a Pensioner receiving a Service Pension becomes employed – performing work solely as an estimator – by a Contributing Employer, his pension payments shall not be suspended for any calendar month in which he is so employed.

Benefits Accrued After Retirement

  1. Before Normal Retirement Age. Additional benefits earned by a Participant in Covered Employment before Normal Retirement Age will be determined as of the Participant’s new Annuity Starting Date, unaffected by previously suspended pension benefits, which may be resumed in accordance with Section 11.14.
  2. After Normal Retirement Age. Additional benefits earned by a Participant in Covered Employment after Normal Retirement Age will be determined at the end of each Calendar Year and will be payable as of January 1 following the end of the Calendar Year in which they accrued, provided payment of benefits at that time is not suspended pursuant to Section 11.14 or postponed due to the Participant’s continued employment.

    Additional accrued benefits that are not suspended or postponed will be paid in the payment form in effect for the Participant as of the Annuity Starting Date most recently preceding the date the additional benefits become payable; provided such Annuity Starting Date had been established after Normal Retirement Age. Otherwise, the additional benefits shall be determined as of the Participant’s new Annuity Starting Date.

Actuarial Adjustment for Delayed Retirement

  1. If the Annuity Starting Date is after the Participant’s Normal Retirement Age, the monthly benefit will be the accrued benefit at Normal Retirement Age, actuarially increased for each complete calendar month between Normal Retirement Age and the Annuity Starting Date for which benefits were not subject to suspension, and then converted as of the Annuity Starting Date to the benefit payment form elected in the pension application of the Participant or to the automatic form of Husband-and-Wife Pension if the Participant is married.
  2. If a Participant first becomes entitled to additional benefits after Normal Retirement Age, whether through additional service or because of a benefit increase, the actuarial increase in those benefits will start from the date they would first have been paid rather than Normal Retirement Age.
  3. The actuarial increase will be .75% per month for each month after Normal Retirement Age (or such later date as may be determined in b. above).
  4. Notwithstanding the above, instead of an actuarially increased benefit, a Participant may choose to receive at his Annuity Starting Date:
    1. a monthly benefit equal to his accrued benefit at Normal Retirement Age, adjusted to include any additional benefits to which he becomes entitled after his Normal Retirement Age and before his Annuity Starting Date as described in b. above, plus
    2. a one-time cash payment equal to the total of the amounts payable for the months between his Normal Retirement Age and his Annuity Starting Date for which benefits are not subject to suspension.

Notices

  1. Upon commencement of pension payments, the Trustees shall notify the Pensioner of the Plan rules governing suspension of benefits, including identity of the industries and area covered by the Plan. If benefits have been suspended and payment resumed, new notification shall, upon resumption, be given to the Pensioner if there has been any material change in the suspension rules or the identity of the industries or area covered by the Plan.
  2. A Pensioner shall notify the Plan in writing within 31 days after starting any work of a type that is or may be prohibited under the provisions of Section 11.13. and without regard to the number of hours of such work.

    If a Pensioner has worked in prohibited employment in any month after Normal Retirement Age, and has failed to give timely notice to the Plan of such employment, the Trustees shall presume that he worked for at least 40 hours in such month and any subsequent month before the Pensioner gives notice that he has ceased prohibited employment. The Pensioner shall have the right to overcome such presumption by establishing that his work was not in fact an appropriate basis, under the Plan, for suspension of his benefits.

    The Trustees shall inform all Pensioners at least once every 12 months of the reemployment notification requirements and the presumptions set forth in this paragraph.
  3. A Pensioner whose pension has been suspended shall notify the Plan when prohibited employment has ended. The Trustees shall have right to hold back benefit payments until such notice is filed with the Plan.
  4. A Pensioner may ask the Plan whether a particular employment will be prohibited. The Plan shall provide the Pensioner with its determination. 

PENALTIES

Notices

  • Upon commencement of pension payments, the Trustees shall notify the Pensioner of the Plan rules governing suspension of benefits, including identity of the industries and area covered by the Plan. If benefits have been suspended and payment resumed, new notification shall, upon resumption, be given to the Pensioner if there has been any material change in the suspension rules or the identity of the industries or area covered by the Plan.
  • The Plan shall inform a Pensioner of any suspension of his benefits by notice given by personal delivery or first class mail during the first calendar month in which his benefits are withheld. Such notice shall include a description of the specific reasons for the suspension, copy of the relevant provisions of the Plan, reference to the applicable regulation of the U.S. Department of Labor, and a statement of the procedure for securing a review of the suspension. In addition, the notice shall describe the procedure for the Pensioner to notify the Plan when his prohibited employment ends. If the Plan intends to recover prior overpayment by offset under Subsection e.(2), the suspension notice shall explain the offset procedure and identify the amount expected to be recovered, and the periods of employment to which they relate.

Review
A Pensioner shall be entitled to a review of a determination suspending his benefits by written request filed with the Trustees within 180 days of the notice of suspension.

The same right of review shall apply, under the same terms, to a determination by or made on behalf of the Trustees that contemplated employment will be prohibited.

Resumption of Benefit Payments

  1. Benefits shall be resumed for months after the last month for which benefits were suspended, with payments beginning no later than the third month after the last calendar month for which the Pensioner’s benefit was suspended, provided the Pensioner has complied with the notification requirements of paragraph c.(2) above.
  2. Overpayment attributable to payments made for any month or months for which the Pensioner had prohibited employment shall be deducted from pension payments otherwise paid or payable subsequent to the period of suspension.

    Exception: A deduction from a monthly benefit for a month after the Pensioner attained Normal Retirement Age shall not exceed 25 percent of the pension amount, except for the first pension payment made upon resumption after a suspension. If a Pensioner dies before recoupment of overpayment has been completed deductions shall be made from the benefits payable to his surviving legal spouse, Beneficiaries or any other party, if any, subject to the 25 percent limitation on the rate of deduction.
Benefit Payments Following Suspension
  1. A Pensioner who returns to Covered Employment shall not be entitled to elect a new optional form of payment with respect to any portion of the pension in effect immediately prior to the suspension of benefits; the monthly amount and type of pension in effect prior to suspension shall be in the same form and amount received when resumed. Additional benefits earned during the period of suspension are subject to the provisions set forth in Section 11.09.
  2. Suspension of pension payments before Normal Retirement Age in accordance with Subsection 11.14.a., because of employment of the type for which a pension would not be suspended after Normal Retirement Age, shall not reduce the value of the Pensioner’s pension below the Actuarial Equivalent of the pension payable at his Normal Retirement Age; to the extent necessary to avoid such reduction, the monthly amount of the pension shall be adjusted so as not to deprive the Pensioner of the value of the pension payable to him at his Normal Retirement Age.
  3. Any payments provided under the form of pension in effect immediately prior to suspension of benefits shall remain effective if the Pensioner’s death occurs while his benefits are in suspension. 

References to specific section(s) of the Plan can be found in the Official Plan Document under Plan Documents on this website.

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