Laborers Local 265 Pension Plan
Eligibility
Normal Retirement
- Age 62 or the 5th anniversary of your participation in the plan
Early Retirement
- Age 55, but before Normal retirement
- 5 or more years of credited service
Late Retirement
You may postpone your retirement beyond your Normal Retirement Date. However, the Plan requires that retirement benefits begin no later than your required beginning date as stipulated by the IRS.
Disability Pension Benefits
The Plan provides a Total Employment Disability benefits to active participants.
Requirements
- Before early retirement age
- Must submit a copy of your Disability Benefits award letter from Social Security
Active Participant – Participant must have earned at least one year of credited service in the prior two plan years.
Death Benefits
If you happen to pass away before you begin receiving retirement benefits, the death benefit available will depend on your marital status.
If you are married and you die before you retire but are fully vested, your spouse will receive a Pre-Retirement Surviving Spouse’s Benefits. Your spouse will receive a pension equal to the monthly benefit that would have been payable if you had retired on the later of your Earliest Retirement Age or the day before your death and elected a Joint & Survivor 50% pension option. Benefits generally begin on the date you would have reached your Earliest Retirement Age. If you were not an Active Participant at the time of your death, they your surviving spouse must wait until the date your would have reached your Normal Retirement Age.