Regular Pension

Minimum Age

Age 65

Pension Credits and Other Requirements

  • Earned at least 15 pension credits
  • Retired from covered employment

Basic Benefit

Benefit rate multiplied by the number of pension credits.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

 

Early Retirement Pension

Age

Minimum age 55

Pension Credits and Other Requirements

  • Earned at least 15 pension credits
  • Retired from covered employment

Basic Benefit

Same as regular pension but it is lowered because benefits will be paid over longer period of time.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

PAYMENT OPTIONS

There are automatic forms of payment for married and single participants.  You are not required to elect the automatic form of payment based on your marital status.

50% Husband and Wife

Automatic for married participants. Spouse receives 50% of participant’s benefit after his death with no reduction in your monthly payment.

75% Husband and Wife

Optional for any married participant. Spouse receives 75% of benefit. Reduces monthly benefit because it has to cover spouse‘s expected life span at higher payment level.

100% Husband and Wife

Optional for any married participant. If your spouse outlives you she gets 100% of benefit. Reduces monthly benefit because it has to cover spouse‘s expected life span at higher payment level.

60 Certain Payments

Automatic for unmarried participants (married participants may jointly elect). Lifetime monthly income. If a participant dies before 5 years of monthly payments, the beneficiary will receive payments for the remainder of the five-year (60-month) period with no reduction in your monthly payment.

120 Certain Payments

Optional for any participant. A reduced monthly benefit payable for your lifetime. If participant dies before 10 years of monthly payments, the beneficiary will receive payments for the remainder of the 10-year (120-month) period.

Lump Sum Readjustment Allowance

Optional for any participant. One-time, lump-sum payment, up to a $5,000 maximum, resulting in a reduced monthly payment.

One-Time Lump Sum Payment

Automatic for any participant with a benefit that has a present value of $5,000 or less.

Surviving Spouse/Beneficiary Benefits

The Plan provides benefits for your surviving spouse or designated beneficiary in the event of your death. Different benefits are payable based on whether death occurs before or after retirement.  The Fund Office can help your beneficiary through the process of applying for benefits and answering any questions about survivor benefits. They should call the Fund Office at 800-342-3792 or 781-272-1000.

Age

At any age, if you are “totally and permanently disabled” according to Plan’s definition.

Pension Credits and Other Requirements

  • Have not retired under a different type of pension
  • Earned at least 10 pension credits.
  • Earned at least ¼ of a pension credit in 1983 or later from covered employment with this Fund or with a reciprocating Plan in the 36-month period immediately preceding date of disability.
  • Determined “totally and permanently disabled” by the Social Security Administration or, if rejected by Social Security, by a physician approved by the Board of Trustees.

Basic Benefit

  • If you have at least 15 pension credits, it is calculated the same way as a regular pension.
  • If you have fewer than 15 pension credits but at least 10, it is 75% of the amount of the regular pension.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

With 1 Hour After December 31, 1997

Age

Retire after age 55

Pension Credits and Other Requirements

  • Earned at least 5, but fewer than 15 pension credits
  • Earned at least one pension credit after January 1, 1972.

Basic Benefit

Calculated by taking 75% of the regular pension amount that would have been payable if you had met regular or early retirement pension requirements.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

 

With 1 Hour Otherwise

Age

Retire after age 55

Pension Credits and Other Requirements

  • Earned at least 10, but fewer than 15 pension credits
  • Earned at least one pension credit after January 1, 1972.

Basic Benefit

Calculated by taking 75% of the regular pension amount that would have been payable if you had met regular or early retirement pension requirements.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

Service

Age

At any age

Pension Credits and Other Requirements

  • Earned at least ¼ pension credit in 1982 or later.
  • Accumulated at least 30 pension credits.

Basic Benefit

Calculated the same way as regular pension.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

 

Vested

Age

Age 55

Pension Credits and Other Requirements

  • At least 5 years of vesting service for non-bargained participant with at least one hour of service after December 31, 1988.
  • At least one hour of vesting service after December 31, 1997 for bargained participant.

Basic Benefit

  • 65 or older: calculated the same way as special minimum pension.
  • Younger than 65: monthly amount is reduced the same as an early retirement pension

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

 

Partial or Pro-Rate

Age

Usually age 55

Pension Credits and Other Requirements

  • Earned credit through another plan that is signatory to the LIUNA National Reciprocal Agreement.
  • Have not had those hours reciprocated back to this Plan.
  • Earned at least one pension credit in the MA Laborers’ Pension Plan after October 1, 1978.

Basic Benefit

Refer to Summary Plan Description for complete details.

Payment Options

  • 50% Husband and Wife (automatic for married members)
  • 75% Husband and Wife
  • 100% Husband and Wife
  • 60 Certain Payments (automatic for single members)
  • 120 Certain Payments
  • Lump-Sum Readjustment Allowance (LSRA)
  • Lump-Sum Payment (automatic for a pension benefit with a value of $5,000 or less)

Hours Bank

You can “bank” any hours that you work in a calendar year in excess of 1,600.

The extra hours can be applied to a year in which you do not earn a full pension credit-meaning you have at least 250 hours but not 1,000 hours. you cannot bank hours for vesting service purposes.

Hours Bank Rules

  • You may bank hours in excess of 1,600.
  • You may bank hours for work in covered employment since 1984.
    You may apply hours to years in which you earned at least 250 hours but less than 1,000 hours since 1962 if you’ve earned at least 250 hours in 1995 or later.
  • Otherwise, you may apply banked hours to years including 1985 or later.
  • For purposes of earning your minimum of 250 hours, your eligible military service and eligible periods of disability may be counted as hours worked.
  • Hours remaining in your bank when your pension starts are converted to pension credits (1,000 banked hours = ¼ pension credit – up to five pension credits). To be eligible, you must have worked at least 250 hours in 2003 or later and retired after January 1, 2004. This applies only to banked hours earned before 1/1/2010.

You earn pension credits and time toward vesting service for the hours that you work in covered employment.

Pension credits are used to calculate the amount of your pension.

Vesting service is required to be eligible for a pension benefit.

 

Hours of Service in a Calendar Year Pension Credits You Earn Years of Vesting Service You Earn
Less than 250 None None
250 but less than 500 ¼ of a pension credit ¼ of a year of vesting service
500 but less than 750 ½ of a pension credit ½ of a year of vesting service
750 but less than 1,000 ¾ of a pension credit ¾ of a year of vesting service
1,000 or more One pension credit One year of vesting service
Reciprocity “Money Follows the Man” If you work in covered employment outside the jurisdiction of the MA Laborers’ Pension Plan and have those contributions forwarded to the MA Laborers’ Pension Plan under a reciprocal agreement, then you will earn pension credit under this Fund based on those contributions.
Break in Service Rules Temporary (one year)
If you are not vested, you will incur a temporary break in service for any year in which you do not work at least 250 hours and you may lose your pension credits and years of vesting earned up to that date.		 Permanent Break
If you are not vested, you will incur a permanent break in service if you have the greater of (a) five consecutive one-year breaks or (b) a number of one-year breaks equal to or exceeding the number of years of vesting service you’ve earned. You will lose all accumulated years of vesting service and pension credits and you will no longer be a participant in the plan.

There are automatic forms of payment for married and single participants. You are not required to elect the automatic form of payment based on your marital status.

50% Husband and Wife

Automatic for married participants. Spouse receives 50% of participant’s benefit after his death with no reduction in your monthly payment.

75% Husband and Wife

Optional for any married participant. Spouse receives 75% of benefit. Reduces monthly benefit because it has to cover spouse‘s expected life span at higher payment level.

100% Husband and Wife

Optional for any married participant. If your spouse outlives you she gets 100% of benefit. Reduces monthly benefit because it has to cover spouse‘s expected life span at higher payment level.

60 Certain Payments

Automatic for unmarried participants (married participants may jointly elect). Lifetime monthly income. If a participant dies before 5 years of monthly payments, the beneficiary will receive payments for the remainder of the five-year (60-month) period with no reduction in your monthly payment.

120 Certain Payments

Optional for any participant. A reduced monthly benefit payable for your lifetime. If participant dies before 10 years of monthly payments, the beneficiary will receive payments for the remainder of the 10-year (120-month) period.

Lump-Sum Readjustment Allowance (LSRA)

Optional for any participant. One-time, lump-sum payment, up to a $5,000 maximum, resulting in a reduced monthly payment.

One-time Lump-Sum Payment

Automatic for any participant with a benefit that has a present value of $5,000 or less.

Surviving Spouse/ Beneficiary Benefits

The Plan provides benefits for your surviving spouse or designated beneficiary in the event of your death. Different benefits are payable based on whether death occurs before or after retirement. The Fund Office can help your beneficiary through the process of applying for benefits and answering any questions about survivor benefits. They should call the Fund Office at 800-342-3792 or 781-272-1000.

How to apply for your pension

You will not start receiving your pension automatically just because you have met the eligibility requirements and retired. You must apply for your pension.

Apply

Print out an application form from the Forms/Resources section of this Web site, complete it and send a signed copy to the Fund Office.The application form includes detailed instructions on the documentation you need, the types of pensions, and payment options.

Rejecting Automatic Payment Options

With proper documentation, you may elect another payment option and reject the automatic form of payment in writing.

Approval Notification

The Board of Trustees must review and approve your application before payments start. Therefore, you should submit your application well in advance of your expected retirement date.

When Payments Start

Usually the first of the month following or coincident with the later of:

  • 30 days after you’ve met the eligibility requirements for a pension and submitted a complete application for a pension benefit; or
  • 30 days after the Plan has notified you of your payment options, unless your pension is being paid as a Husband and Wife Pension on or after your normal retirement age or is paid automatically as a lump-sum payment.
  • Your pension must start no later than April 1 of the year following the year you reach age 70-1/2 (or, if you are still working in covered employment when you reach age 70-1/2, April 1 of the year following the year you retire).

Paying Taxes on Your Pension Benefit

Unless you elect not to have taxes withheld, Federal and applicable state income taxes will be automatically withheld from payments that exceed limits established by law. Before deciding to retire or electing a payment form, you may want to consult with a professional tax advisor.

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