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FAQs

This page contains Frequently Asked Questions regarding the Pension Fund.

Should you have a question or concern regarding your pension benefit, contact the Benefit Office at 754-777-7735 or info@725benefits.org

Pension Fund

Q. How do I become a Participant in the Plan?

A. You will become a Participant on the first day of the month in which you accrue 400 Hours in Covered Employment during a period of 12 consecutive months beginning with your first day of employment ending on your first anniversary of employment. 

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Q. I am going through a divorce, what happens to my pension?

A. If your former spouse is awarded a portion of your earned benefit through the Plan, it will be necessary that you and your former spouse complete a Qualified Domestic Relations Order (QDRO) so that the Plan can pay benefits to your former spouse. You may contact the Benefit Office and request that a sample QDRO be provided to you.

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Q. Does the Pension Plan affect Social Security benefits in any way?

A. No.

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Q. Can pensions be paid or assigned or garnered to others?

A. No. Pensions cannot be assigned to a third party. The only exceptions are for payments in accordance with a "Qualified Domestic Relations Order," or on the death of the Participant to a designated beneficiary.

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Q. I recently moved, how do I change my address?

A. For your protection, all address changes must be submitted in writing. You can change your address in one of three ways:
    a) Mail or fax a letter to the Benefit Office with your new address or
    b) Complete the Address Change Form located on the website and mail or fax to the

        Benefit Office for processing.

     c) Log into your Participant Portal and complete the address change form online.

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Q. Whom should I contact if I'm getting a divorce and what documents do I need to submit?

A. Please call the Benefit Office and advise the Eligibility and Pension Departments that you are getting a divorce or have already gotten divorced. You will also need to submit a FULL copy of your Dissolution of Marriage Judgment, QDRO (Qualified Domestic Relations Order) and Qualified Medical Child Support Order to this office.

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Q. Is there a book or something that contains the rules of this plan?

A. Yes. The Pension Plan provides members a Summary Plan Description which is mailed to each member and is also available on this website under the documents tab.

 

Contact Retirement Services for any additional questions you may have about your pension benefit.

Frequently Asked Questions

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