Rule of 80 Early Retirement

Requirements

Rule of 80 means your age plus whole years of credited service in this plan equals 80 or more. You must be vested in this plan, at least age 55 and less than age 62, and no longer working in the building and construction industry in any geographic area. You must also satisfy the activity test - have at least 750 covered hours in this plan sometime in the three calendar years immediately preceding your retirement date.

Monthly Benefit

Your monthly benefit is equal to your total accrued monthly benefit (See Earning Benefits). Your monthly benefit is not reduced for early retirement. Your monthly benefit is reduced if you elect a joint and survivor benefit instead of a single life benefit. See Joint and Survivor Benefit Factors.

For special suspension of benefit rules for rule of 80 early retirements, please click here.

Special Early Retirement

Requirements

You must be vested in this plan, at least age 55 and less than age 64, and no longer working in the building and construction industry in any geographic area. You must also satisfy the activity test - have at least 750 covered hours in this plan sometime in the three calendar years immediately preceding your retirement date.

Monthly Benefit

Your monthly benefit is equal to your total accrued monthly benefit (See Earning Benefits) less the appropriate reduction for early retirement. See Special Early Retirement Reduction Factors. Your monthly benefit is also reduced if you elect a joint and survivor benefit instead of a single life benefit. See Joint and Survivor Benefit Factors.

Regular Early Retirement

Requirements

You must be vested in this plan, at least age 55 and less than age 65, and no longer working in the building and construction industry in any geographic area.

Monthly Benefit

Your monthly benefit is equal to your total accrued monthly benefit (See Earning Benefits) less the appropriate reduction for early retirement. See Regular Early Retirement Reduction Factors. Your monthly benefit is also reduced if you elect a joint and survivor benefit instead of a single life benefit. See Joint and Survivor Benefit Factors.

Payment Options

You may elect one of four payment options provided under this plan. See Retirement Payment Options. You may also increase your monthly benefit under the pension enhancement option . All retirement benefits are subject to the post-retirement employment and suspension of benefits rules.