Disability Early Retirement Factors
The reduction factors in the table below apply to all
Disability Pensions payable on and after August 1, 1998.
A participant may retire on a Disability Pension if he:
-
meets the Plan’s General Eligibility requirements,
-
has at least 10 years of pension credit,
-
is Totally and Permanently disabled as defined in the Plan, and
-
is actively engaged in Covered Employment at the onset of his
disability.
In order to be considered Actively Engaged in Covered Employment, a
participant must earn a minimum of 18 months of pension credit in the 36-month
period immediately preceding the onset date of his disability. The Trustees
accept as proof of total and permanent disability a determination by the Social
Security Administration that the participant is entitled to a Social Security
Disability benefit.
The amount of the Disability Pension is equal to the
participant’s vested benefit amount payable at 64 multiplied by the factor
shown in Column 3 that corresponds to his age at the commencement date of his
pension. (Note: The reduction factor remains at 50% for all retirement ages
under 51.)
Table 5
| Early
Retirement Age |
Percentage
Reduction |
Percentage
Payable |
| 64 |
0% |
100% |
| 63 |
0% |
100% |
| 62 |
0% |
100% |
| 61 |
0% |
100% |
| 60 |
0% |
100% |
| 59 |
0% |
100% |
| 58 |
10% |
90% |
| 57 |
18% |
82% |
| 56 |
26% |
74% |
| 55 |
34% |
66% |
| 54 |
39% |
61% |
| 53 |
45% |
55% |
| 52 |
50% |
50% |
| 51
and Younger |
50% |
50% |
Return
to Table Selection
United We Stand
2005© New
England Teamsters & Trucking Industry Pension Fund
1 Wall Street, Burlington MA, 01803-4768
The
use of this website is subject to the Legal
Conditions and Terms of Use,
and by proceeding, you acknowledge your acceptance of these terms.