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Summary Plan Description

Partial (Reciprocal) Pension

The Trustees of the Plan have entered into Reciprocal Agreements with various other Teamsters Pension Plans to provide Participants with benefits when their service is divided between two or more pension plans. The pension plans with whom Reciprocal Agreements have been executed by the Trustees are called Related Plans. The list of all of the Related Plans to this Plan is available for review at the Fund Office during business hours (8:00 a.m. to 4:00 p.m.).

Eligibility

You are eligible for a Partial Pension at Normal, Early or Disability Retirement based on your Years of Credited Service with this Plan, provided your total service with this and a Related Plan is sufficient to satisfy the eligibility requirements. However, you must earn at least two years of Future Credited Service (contributory service) to be eligible for a Partial Pension from this Plan.

You are eligible for a 25-And-Out or a 30-And-Out Retirement Partial Pension if your total service with this and a Related Plan totals the required years of Future Credited Service (contributory service), and the Related Plan also provides the equivalent type of Benefit.

You must also qualify for a Partial Pension from the Related Plan, and you must apply for a Partial Pension within 5 years from your Termination Date with your last Covered Employment with this Plan or a Related Plan. The rules for determining a Partial Pension also apply to the determination of the portion of the Burial Benefit to be paid by this Plan.

You are also eligible for a Partial Pension at Normal Retirement if you have earned at least 5 Years of Credited Service with this Plan, and your total Years of Participation in this Plan and any Related Plan equals 15 years, but you are not eligible for a Partial Pension by reason of the rules of the Terminal Plan, and you have not incurred a Break-in-Service after leaving this Plan.

Examples

Assume you have earned 10 Years of Credited Service (contributory service) with this Plan and 15 years of service with a Related Plan, for a Combined Credit of 25 years. If you qualify with the Related Plan as to age requirements (and/or disability requirements), you may retire with a Partial Pension if you also qualify with this Plan. As the result, you will receive from this Plan 40% of the benefit based on 25 Years of Combined Service Credit.

Assume that you have earned 10 Years of Credited Service with this Plan, and 15 years, of which 8 years is contributory service, with the Related Plan. As the result, you will receive from this Plan 55.55% of the benefit based on 25 Years of Combined Service, but your benefit will only be based on the combined contributory service. If your Unit Multiplier is $22, your Partial Pension will be 55.55% of $550 or $305.53. The Partial Pension from the Related Plan will be 44.45% of the benefit computed by the Related Plan based on 25 Years of Combined Service Credit with the Related Plan.

Related Service Credits

Service credits accumulated with a Related Plan are recognized by this Plan as Related Service Credits. This Plan computes Related Service Credits based on the provisions of the Plan with which such service was earned and credited with the Related Plan and certified by the Related Plan to this Plan.

Combined Service Credit

The total of your service credit with this Plan and the Related Service Credit together comprise your Combined Service Credit. Not more than one year of Combined Credit will be counted in any calendar year.

 

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