ufcw apple
ufcw
ufcw
ufcw
ufcw ufcw
 
ufcw
ufcw ufcw  Earning Pension Service Credit ufcw
ufcw ufcw
ufcw ufcw  Vesting Your Pension ufcw
ufcw ufcw
ufcw ufcw  Retirement Ages and Types ufcw
ufcw ufcw
ufcw ufcw  Determining Your Pension Amount ufcw
ufcw ufcw
ufcw ufcw  Different Ways to Receive Your Pension ufcw
ufcw ufcw
ufcw ufcw  Applying for Your Pension ufcw
ufcw ufcw
ufcw ufcw  Appeal of Denial of Benefits ufcw
ufcw ufcw
ufcw ufcw  Pension Plan Application Procedures ufcw
ufcw ufcw
ufcw ufcw  Forms and Publications ufcw
ufcw
ufcw

Search this site

 

  Home > Pension Plan > Ways to Receive Your Pension

DIFFERENT WAYS TO RECEIVE YOUR PENSION

Click on any item to go directly to that section within this page
 

There are various ways that your pension can be paid to you when you retire, depending on your age, your years of service and when you left Covered Employment.

Single-Life Pension

A monthly pension that is payable only to you for the rest of your life is called a Single-Life Pension. If you are not married when your pension begins, this is the way your pension will be paid.

Top of Page

50% Joint and Survivor Pension

A 50% Joint and Survivor Pension is a reduced monthly pension that is payable to you for the rest of your life and, if you die before your spouse, 50% of your reduced pension that is payable to your spouse for life.

If you are married when your pension begins, Federal law requires that a 50% Joint and Survivor Pension is the way your pension will be paid unless your spouse waives his or her right to this form of payment.

The percent of your Single-Life Pension that you will receive under the 50% Joint and Survivor Pension is shown in the following table for various ages:

Your
Spouse’s Age
Your Age When Your Pension Starts
  55 57 60 63 65
53 93.08% 91.86% 89.68% 87.04% 84.99%
55 93.61% 92.45% 90.37% 87.82% 85.83%
57 94.14% 93.05% 91.07% 88.62% 86.70%
60 94.92% 93.94% 92.13% 89.87% 88.07%
63 95.68% 94.81% 93.20% 91.14% 89.48%
65 96.16% 95.37% 93.89% 91.98% 90.43%
67 96.62% 95.91% 94.56% 92.81% 91.37%
69 97.04% 96.41% 95.20% 93.61% 92.28%

Top of Page

75% Joint and Survivor Pension

A 75% Joint and Survivor Pension is a reduced monthly pension that is payable to you for the rest of your life and, if you die before your spouse, 75% of your reduced pension that is payable to your spouse for life. Choose this form of payment if you want to provide a larger benefit to your spouse in the event of your death.

The percent of your Single-Life Pension that you will receive under the 75% Joint and Survivor Pension is shown in the following table for various ages:

Your
Spouse’s Age
Your Age When Your Pension Starts
  55 57 60 63 65
53 89.97% 88.27% 85.29% 81.75% 79.06%
55 90.71% 89.09% 86.22% 82.78% 80.15%
57 91.46% 89.92% 87.17% 83.85% 81.29%
60 92.57% 91.18% 88.65% 85.54% 83.11%
63 93.66% 92.41% 90.13% 87.27% 85.00%
65 94.35% 93.22% 91.11% 88.44% 86.29%
67 95.01% 93.98% 92.06% 89.59% 87.58%
69 95.63% 94.71% 92.97% 90.70% 88.85%

Top of Page

100% Joint and Survivor Pension

A 100% Joint and Survivor Pension is a reduced monthly pension that is payable to you for the rest of your life and, if you die before your spouse, 100% of your reduced pension that is payable to your spouse for life. This form of payment provides the largest benefit to your spouse in the event of your death.

You may not choose the 100% Joint and Survivor Pension if the last year of Credited Service you earned was before your 54th year of birth.

The percent of your Single-Life Pension that you will receive under the 100% Joint and Survivor Pension is shown in the following table for various ages:

Your
Spouse’s Age
Your Age When Your Pension Starts
  55 57 60 63 65
53 87.06% 84.95% 81.30% 77.06% 73.90%
55 87.99% 85.97% 82.43% 78.28% 75.17%
57 88.93% 87.00% 83.60% 79.57% 76.52%
60 90.34% 88.57% 85.41% 81.60% 78.68%
63 91.72% 90.14% 87.26% 83.72% 80.96%
65 92.60% 91.15% 88.48% 85.15% 82.52%
67 93.45% 92.14% 89.68% 86.58% 84.10%
69 94.25% 93.07% 90.84% 87.98% 85.66%

Top of Page


(Updated 06/19/13)



 
     
[Home Page] [Health Plan] [Pension Plan] [Forms] [Links] [Newsletters] [About Us] [Who's Who] [Contact Us] [ERISA Rights]