About the Plan - FAQs

How is my pension benefit calculated?
Your pension is calculated based upon Plan Rules in effect while you participated in the Plan. The amount of your benefit is based on the contribution rate remitted to the Fund by your employer and years of service.

What is the current benefit accrual rate?
The accrual on hours worked on or after January 1, 2000 has two parts. The first part is the Basic Benefit, which applies to contributions on all hours up to 1,400 per Plan year. The second part is the Over 1,400-Hour Benefit which, as the name implies, applies to the contributions for all hours in excess of 1,400 in the Plan year. The Basic Benefit produces an accrual of $0.24 per $0.01 of hourly contribution rate based on 1,400 hours. The Over 1,400-Hour Benefit produces an accrual of 0.6% (0.006) for all contributions related to hours in excess of 1,400.

How can I obtain a Summary Plan Description?
The 2008 Summary Plan Description can be viewed online or printed. Printing the document online may take some time because it is lengthy. You may also e-mail the Pension Office or write us to obtain a copy. Please make sure you include your current mailing address. 

How do I find out if I am entitled to a benefit from the Plan?
You will need to complete an application and submit it to our office. Indicate in the application that you are applying for information rather than a benefit. Our Pension Department will review your work history and provide you with a response generally within sixty (60) days of receipt. This response will advise you of your entitlement to benefits. You may print out a Pension Application directly from this web site. Please complete the application and mail it to the Fund office.

What does "vested status" mean?
Once you have achieved Vested Status you have earned a non-forfeitable right to a pension at Normal Retirement.

If I do not achieve vested status can I receive a refund of the contributions made on my behalf?
No. Technically, only employer contributions are made. The Plan is designed to pay the highest possible benefit to retirees who have a career in the Sheet Metal Industry under a Collective Bargaining Agreement. This can only be done if the Fund is devoted only to paying pensions. Cashing out contributions to employees who are going to work in other industries after spending only a few months or years working under Sheet Metal contracts would mean that our participants would receive lower benefits.

Is there a waiting period before I receive my pension?
Plan Rules require that you notify the Fund office, in writing, in advance of your retirement date. For example, if you want to receive benefits effective January 1, your written notice must be received by the Fund office on or before December 31. However, if possible, we recommend that you notify the Fund office three (3) to six (6) months in advance of your retirement.

Am I allowed to work after I retire?
Depending on your age, you may be allowed to work and continue to collect a pension benefit. However, the rules regarding employment depend on your age. If you are planning to work and are unable to determine if it is prohibited under Plan Rules, you should contact the Fund office in writing. In your correspondence, please include the name and address of employer, the number of hours you will be working each month, and a brief job description. The Fund will respond to each inquiry in writing. You can view or print Suspension of Benefits (Section 8.06) directly from this web site.

Can I work in Disqualifying Employment and receive a pension if I am not being paid for my services?
Disqualifying Employment includes both paid or non-paid work. Plan Rules allow for continued work under certain circumstances.

Am I required to notify the Fund if I should return to work?
Whether you are under or over age 65, you are required to report to the Pension Department, in writing, within 21 days of starting any work in Disqualifying Employment. If you do not, your pension benefits may be suspended for an additional three (3) months.

Does the National Pension Fund offer any health coverage?
No. However the Pension Fund will pay part of the cost on behalf of each eligible retiree (and, if applicable, their spouse) toward the cost of Medicare supplemental coverage obtained by the retiree.

In order to qualify for this subsidy you have to meet the following requirements:

• You must be receiving a pension from the National Pension Fund.
  
• The Retiree must be a continuous Union member is good standing the later of his or her effective date of pension, or January 1, 2002.  If the subsidy recipient is a Beneficiary, the Retiree must have been a Union member in good standing at the time of his or her death.
  
• For any applications after January 1, 2002, the Retiree must have worked a minimum of 435-hours in Covered Employment within the 24 months prior to his or her effective date of pension.
  
• The Retiree's last Employer (or last position in Covered Employment) continues to have a Contribution Rate at least $0.72 per hour (Plan A or successor Plan) or $0.36 per hour (Plan B or successor Plan) on the Retiree's classification.
  
• Your insurance provider must complete a Provider's Certificate with the Fund that the coverage qualifies as a Medicare supplemental policy as that term is defined in 42 U.S.C. §1395 ss (g), and that all moneys received by the Provider will be used for "medical expenses", within the meaning of the Treasury Regulation §1.401-14(b)(4)(ii).

Click here for more information.

Assuming the program or policy you select is acceptable, and assuming you are eligible for coverage, the Fund will pay up to $31 per month toward the cost of coverage for you and up to $31 per month for your spouse, if applicable. The balance of the cost, whatever the amount, must be paid by you. Note that a few local union health funds do pay the participant's cost. You should check with your local fund. For more information you can contact the Fund office at 1-800-231-4622 or e-mail the Pension Office.

I have received a determination that I do not agree with. What are my appeal rights?
If you disagree with a determination you must submit an appeal. In order to do so, you must write the Fund office within 180 days of receipt of the determination and request that your case be considered at the next scheduled Appeals Committee Meeting. You must state the reasons for your appeal in your letter, as well as include any documentation you may have to support your claim. In the event your appeal is denied, but you wish to seek judicial relief, you must do so within 90 days after receiving notice of denial, otherwise your claim will be barred. If you choose not to appeal but want to go to court, you must do so within 270 days of receipt of your determination, or your claim will be barred. Please click here to view Plan rules covering Right of Appeal (Section 8.04).

How often does the Appeals Committee meet?
The Appeals Committee meets quarterly. To allow for processing, the Fund office must receive any submission 30 days in advance of the meeting. If your appeal does not meet this requirement, your appeal will be presented at the following meeting. In special circumstances, your appeal may be heard at a later meeting.

On what day of the month will I receive my pension check or direct deposit?
Your check or direct deposit should arrive by the first of each month. We make every effort to make sure that your benefit payment arrives on time. Allowing for postal delays, if you have not received your payment by the 7th of the month, you should call the Fund at (800) 231-4622

How do I change beneficiary designations?
If you are receiving a pension from the Fund, you designated a beneficiary(ies) at the time you selected your form of payment. In order to obtain a Beneficiary Designation Form, you should contact the Fund. Once contacted the Fund will determine if it is possible for you to change your beneficiary, and, if so, will forward the necessary paperwork.

If you are not receiving a pension, and are interested in designating a beneficiary for a pre-retirement Lump Sum death benefit, you must complete a beneficiary form and file it with your local union office. In order to obtain a form, you can contact either your local union office, or you can print a Beneficiary Designation Form directly from this web site. Please be advised, the Fund will only consider a Beneficiary Designation if it is on file with your local union office at the time of your death.

Are there any penalties for working in the Sheet Metal Industry not covered by a Collective Bargaining Agreement?
Yes. If you work in the Sheet Metal Industry after 9/1/1988 and the company is not signatory to a Sheet Metal Collective Bargaining Agreement, the Fund imposes the following penalties:

• Loss of disability benefits
• Loss of a pre-retirement Lump Sum death benefit
• A suspension of Early Retirement benefits on any accrual earned after 9/1/1988. This suspension is dependent on the number of calendar quarters you are employed in non-signatory employment after 9/1/1988.

Do I have an opportunity to repair the penalties imposed for non-signatory employment?
Yes. These penalties will be waived if the Participant returns to Covered Employment and earns the same amount of months of Pension Credit that he/she worked in non-signatory employment. It should be noted, this waiver is only applicable once. If the Participant again returns to non-signatory employment he/she will be unable to repair any penalties.

What is a Domestic Relations Order (DRO) or a Qualified Domestic Relations Order?
A DRO is generally a court order issued by a domestic relations judge, usually in connection with a divorce, property settlement or child support. A DRO generally gives an "Alternate Payee" some interest in a participant's pension. Before the NPF will make payments pursuant to a DRO, it has to determine that the DRO is "Qualified." In brief, the Fund determines an Order is qualified if it provides payment of benefits available under the Plan, can be understood and implemented, and otherwise meets several other requirements. When the Fund receives a DRO, it forwards to the participant and "Alternate Payee" an acknowledgement and a copy of QDRO Procedures and other material that may be helpful. You may view the QDRO Procedures directly from this website or you can contact the Fund Office.

How do I obtain a pension credit statement?
Pension credit statements are mailed annually - usually by June of each year. The statement provides information on pension credits earned through the prior year. Benefit accrual information is provided for accruals beginning in 2000 and for the years prior to 2000 if a pension application has been filed. You must have worked in covered employment in the year in order to receive a statement for that year.