Laborers Local 265 Pension Plan

Eligibility

Depending on when (or what age) you are planning to retire, you must meet different requirements.

Normal Retirement

  • Age 62 or the 5th anniversary of your participation in the plan

Early Retirement

  • Age 55, but before Normal retirement
  • 5 or more years of credited service

Late Retirement

  • You may postpone your retirement beyond your Normal Retirement Date. However, the Plan requires that retirement benefits begin no later than the April 1st following the calendar year in which you reach age 70½. 

Disability Pension Benefits

The Plan provides a Total and Permanent Disability benefits to active participants.

Requirements

  • Before early retirement age
  • Must submit a copy of your Disability Benefits award letter from Social Security
 

Active ParticipantParticipant must have earned at least one year of credited service in the prior two plan years. 

Death Benefits

If you happen to pass away before you begin receiving retirement benefits, the death benefit available will depend on your marital status.

If you are married and you die before you retire but are fully vested, your spouse will receive a Pre-Retirement Surviving Spouse’s Benefits. Your spouse will receive a pension equal to the monthly benefit that would have been payable if  you had retired on the later of your Earliest Retirement Age or the day before your death and elected a Joint & One-Half Survivor pension payment. Benefits generally begin on the date you would have reached your Earliest Retirement Age. If you were not an Active Participant at the time of your death, they your surviving spouse must wait until the date your would have reached your Normal Retirement Age.

If you are not married or you are not fully vested and you die before you retire, then no benefits will be payable from the Plan on your behalf.
 
If you are receiving a pension in the form of a Joint & survivor Annuity, then after your death your surviving spouse will receive a monthly income according to the Joint & Survivor Option elected at retirement.

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