Disability
Retirement
Eligibility and Retirement Effective Date
To be eligible
for disability retirement you must be:
- Under
age 65.
- Meet
the definition of retired.
- Vested
under the ten-year vesting rule (please see Ten-Year
Vesting).
- Have
at least 750 covered hours in this plan or in combination with a reciprocal plan
sometime during the three calendar years immediately preceding the date of your
disability.
- Totally
and permanently disabled by accidental bodily injury or illness as defined by
this plan (please see the definition of totally and permanently
disabled).
Your injury or illness cannot be the result of an intentional self-inflicted
injury or the habitual use of drugs or alcohol.
- Your
injury or disease must render you incapable of performing any and every duty
pertinent to your occupation as a carpenter. After receiving benefits for 24
months, you must be incapable of working in any substantial gainful employment
as determined by the Board of Trustees in order to continue receiving disability
benefits. Periodic proof of continued disability is also required.
With
disability retirement, your retirement effective date is the later of the first
of the month following a six-month waiting period or the first of the month
following receipt of your
Application
For Retirement
Benefits.
You do
not
receive an income before the first day of the seventh month of your disability.
The six-month delay is known as the “disability waiting period” and
may be waived by the Board of Trustees under certain non-discriminatory
circumstances. Your application must be accompanied by the
Attending
Physician’s Statement.
For
additional information about disability retirement eligibility, please see
Article
4.3 and Article
7.
Monthly Benefit
The amount
available at disability retirement is your total monthly benefit less the
appropriate reduction for disability retirement. Disability retirement reduction
factors are listed in Table 8. Your disability benefit is a
single life benefit with guaranteed monthly payments for five years (60
payments). When you reach age 65, your monthly benefit is recalculated to
reflect what would have been your total monthly benefit if you had not taken
disability retirement. Normal retirement payment options are available at that
time and no further proof of disability is required. The example below
illustrates how to calculate a disability retirement income.
If
you die before age 65, your surviving spouse receives any of the outstanding
guaranteed monthly payments. If you die between the ages of 55 and 65 and all
guaranteed monthly payments have been made, your spouse receives the
survivor’s portion of a 50% joint and survivor benefit beginning the month
following your death (please see Qualified Spouse’s
Benefit). If
you die before age 55 and all guaranteed monthly payments have been made, your
spouse receives the survivor’s portion of a 50% joint and survivor benefit
beginning the month you would have attained age 55 had you lived. This benefit
is payable for your spouse’s lifetime.
For
additional information about the monthly benefit available under disability
retirement, please see Article
6.3.
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Calculations |
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You become disabled at age 45 with a total monthly benefit
of $800.00:
Total Monthly Benefit x Disability
Reduction Factor = Monthly Income
$800.00 x .7000
(70.00%) = $560.00
In this example, your $800.00 total monthly benefit is
reduced by $240.00 to provide a monthly disability income.
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