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Pension Plan

 
Working after Retirement

Retirement.

  1. Before Normal Retirement Age. To be deemed retired, a person must refrain from any work wherever performed, whether or not under a Collective Bargaining Agreement, for wages or profit in the Resilient Floor Covering Industry, or in the type of work for which Contributions have been made to the Pension Fund.

    Exception. If a Pensioner receiving a Regular, Service, Special Service, or Early Retirement Pension becomes employed by a Resilient Floor Covering Industry currently Contributing Employer to this Fund, (except for work for which Employer Contributions are required to be made to the Fund as set forth in Section 1.25, which work is limited to 499 hours in a Calendar Year) his or her pension payments shall not be suspended for any calendar month in which he or she is so employed.
  2. After Normal Retirement Age but before the Required Beginning Date. To be deemed retired after attaining Normal Retirement Age and before the Required Beginning Date, a Pensioner must refrain from employment of 40 hours or more during any calendar month, or during each four- or five-week payroll period ending in a calendar month:
    1. In the geographic jurisdiction covered by the Plan; and
    2. In work in the Resilient Floor Covering Industry, as defined in Section 1.25.

    Exception. A Pensioner who returns to work for a Contributing Employer may work without limitation in any capacity, except in employment of the type for which contributions to the Fund are required, which is limited to 499 hours in a Calendar Year.
  3. After the Required Beginning Date. A Pensioner shall be deemed retired upon attainment of his or her Required Beginning Date irrespective of the type of employment performed.

Suspension of Pension Payments.

  1. Before Normal Retirement Age. If a Pensioner (other than a Disability Pensioner) becomes employed in work in the Resilient Floor Covering Industry for a Non-Contributing Employer, or works more than 499 hours in a Calendar Year in work of the type for which Contributions are required to be made to the Fund, his or her pension payments shall be suspended for any calendar month of such employment.

    Exception. A Pensioner receiving a Regular, Service, Special Service, or Early Retirement Pension may return to work in the Resilient Floor Covering Industry for a Non-Contributing Employer without having his or her benefits suspended if such employment is pursuant to a salting agreement. The salting agreement must be approved by the local area Union, and must be presented to the committee designated by the Trustees for approval.
  2. After Normal Retirement Age and Before the Required Beginning Date. If a Pensioner subsequently becomes employed in work of the type described in Subsection 10.11.b. for more than the number of permissible work hours set forth therein, his or her pension payments shall be suspended for any calendar month of such employment. After the Pensioner ceases such employment, his or her pension shall commence with the first month following the cessation of prohibited employment described in Section 10.11.b.

    Exception. A Pensioner receiving a Regular, Service, Special Service or Early Retirement Pension may return to work in the Resilient Floor Covering Industry for a Non-Contributing Employer without having his or her benefits suspended if such employment is pursuant to a salting agreement. The salting agreement must be approved by the local area Union, and must be presented to the committee designated by the Trustees for approval.
  3. After the Required Beginning Date. Pension payments shall not be suspended for employment after the Required Beginning Date. Any additional pension amount earned by Pensioners who continue to work after the Required Beginning Date shall be determined at the end of each Calendar Year and payable by the end of the first month of the Calendar Year following the Calendar Year in which it accrued.
  4. Notices.
    1. Upon commencement of pension payments and annually thereafter, the Trustees shall notify the Pensioner of the Plan rules governing suspension of benefits.
    2. A Pensioner shall notify the Plan in writing prior to starting any work of a type that is or may be prohibited under the provisions of Section 10.11 and without regard to the amount of earnings or the number of hours of such work.

      If a Pensioner has worked in prohibited employment in any month after Normal Retirement Age, and has failed to give timely notice to the Plan of such employment, the Trustees shall presume that he or she worked in violation of Subsection 10.11.b. in such month and any subsequent month before the Pensioner gives notice that he or she has ceased prohibited employment. The Pensioner shall have the right to overcome such presumption by establishing that his or her work was not in fact an appropriate basis, under the Plan, for suspension of benefits.

      By May 31 of every year, each Pensioner younger than age 68 whose Pension became effective on or after February 1, 1974, is required to furnish the Board of Trustees with his or her Social Security Authorization Notification. If a Pensioner fails to furnish such information by May 31 of any year, his or her pension will be suspended until he or she provides such copy, unless he or she is disqualified in accordance with Subsection a. or b. above.
    3. A Pensioner whose pension has been suspended shall notify the Plan when prohibited employment has ended. The Trustees shall have the right to hold back benefit payments until such notice is filed with the Plan.
    4. The Plan shall inform a Pensioner of any suspension of his or her benefits by notice given by personal delivery or first class mail during the first calendar month in which such Pensioner's benefits were withheld. Such notice shall include a description of the specific reasons for the suspension, copy of the relevant provisions of the Plan, reference to the applicable regulation of the U.S. Department of Labor, and a statement of the procedure for securing a review of the suspension. In addition, the notice shall describe the procedure for the Pensioner to notify the Plan when his or her prohibited employment ends. If the Plan intends to recover prior overpayments by offset under Subsection f.(2), the suspension notice shall explain the offset procedure and identify the amount expected to be recovered, and the periods of employment to which they relate.
  5. Review. A suspension of benefits pursuant to this Section shall be subject to the right of appeal provided in Section 10.04.
  6. Resumption of Benefit Payments.
    1. Benefits shall be resumed for months after the last month for which benefits were suspended, with payments beginning no later than the third month after the last calendar month for which the Pensioner's benefit was suspended, provided the Pensioner has complied with the notification requirements of paragraph d.(3) above.
    2. Overpayments attributable to payments made for any month or months for which the Pensioner had prohibited employment shall be deducted from pension payments otherwise paid or payable subsequent to the period of suspension. A deduction from a monthly benefit for a month after the Pensioner attained Normal Retirement Age shall not exceed 25 percent of the pension amount, except for the first pension payment made upon resumption after a suspension. If a Pensioner dies before recoupment of overpayments has been completed, deductions shall be made from the benefits payable to his or her beneficiary or surviving Spouse, as the case may be, subject to the 25% limitation on the rate of deduction.
  7. Continued Employment After Normal Retirement Age. Subsection b., providing for suspension of benefits after Normal Retirement Age, shall not apply to a Participant who remains in Covered Employment and does not retire until after Normal Retirement Age, unless such Participant subsequently returns to prohibited employment after he or she retires. This subsection shall not apply to any Pensioner who works in prohibited employment pursuant to subsections a. and b. above.
  8. Work in Washington and Oregon. Local Area Trustees have determined that there is currently a shortage of qualified labor in Washington and Oregon. The provisions of §10.12(a) and (b) shall not apply to any Pensioner who performs work in the Resilient Floor Covering Industry (as defined in Section 1.25) in calendar years 2008 and 2009 provided that the Pensioner works for a Contributing Employer in Washington and/or Oregon and notifies the administrator in writing of his intent to return to work. Under this provision, a Pensioner, who does not have an ownership interest in a Contributing Employer, may work unlimited hours in the Resilient Floor Covering Industry for Contributing Employers in Washington and Oregon during the calendar year 2008 and 2009 without having his benefits suspended.

    This provision shall be effective from January 1, 2008 to December 31, 2009.
  9. Work in Colorado. Local Area Trustees have determined that there is currently a shortage of qualified labor in Colorado. Effective July 1, 2010, pension payments will not be suspended pursuant to the provisions of sec. 10.12(a) and (b) for any pensioner who performs work in the Resilient Floor Covering Industry (as defined in Section 1.25 of the Plan) on or after July 1, 2010 provided that the Pensioner works for a Contributing Employer in Colorado and notifies the administrator in writing of his intent to return to work. Under this provision, a Pensioner, who does not have an ownership interest in Contributing Employer, may work unlimited hours for Contributing Employers in Colorado beginning on or after July 1, 2010 and until December 31, 2010 without his benefits suspended. This provision shall be effective from July 1, 2010 to December 31, 2010.

Benefits Payable Following Suspension.

  1. The monthly amount and type of pension when resumed after suspension shall be in the same form and amount received prior to suspension, subject to Subsection 10.13.d.
  2. Suspension of pension payments before Normal Retirement Age in accordance with Subsection 10.12.a., because of employment of the type for which a pension would not be suspended after Normal Retirement Age, shall not reduce the value of the Pensioner’s pension below the actuarial equivalent of the pension payable at this or her Normal Retirement Age; to the extent necessary to avoid such reduction, the monthly amount of the pension shall be adjusted so as not to deprive the Pensioner of the value of the pension payable at his or her Normal Retirement Age, subject to Subsection 10.13.d.
  3. A Spousal Pension in effect immediately prior to suspension of benefits, the Pensioner’s Thirty-Six Month guarantee of Benefits, or any optional form of payment selected, shall remain effective if the Pensioner’s death occurs while his or her benefits are in suspension. If a Pensioner returns to Covered Employment, he or she shall not be entitled to a new election as to the Spousal Option, or any other optional form of benefit provided under the Plan with respect to benefits accrued prior to his Pension Effective Date.
  4. Notwithstanding the above, a Participant who retires on or after May 1, 2010 and prior to January 1, 2011 who returns to work in suspendible employment prior to receiving 12 monthly pension payments shall be subject to the terms of the Rehabilitation Plan and its Schedules as to his or her entire unpaid accrued benefits as if he or she had retired on or after January 1, 2011.

References to specific section(s) of the Plan can be found in the Official Plan Document under Plan Documents on this website.

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