PENSION PLAN BENEFITS

 

 

Death Benefits

 

Salary continuation benefit for member's family (up to $50,000 for members under age 60; up to $30,000 for members age 60 and over).

 

  • Monthly surviving spouse pension.
  • Support for children.

 

Disability Benefit

 

Available after one year of participation

 

  • The Disability Benefit begins on the 61st day of disability.
  • Provides monthly checks.
  • Waives dues, but pension credits continue to accrue.
  • Includes Death Benefit as described above.

 

Retirement Pension

 

Calculated on your lifetime income on which dues have been paid, so it is important to begin participation as early as possible. The Pension is a guaranteed life-time benefit of the highest value. 

 

  • Continued for spouse at member's death.
  • Increased by growing funds when granted.