When do I become a Plan Participant?
You automatically become a Plan Participant after you have completed 1000 hours of employment in the industry during the first twelve months of your employment. If you do not work 1000 hours during your first twelve months of employment, you will become a Plan Participant when you first work 1000 hours during a contract year. If you were employed in the industry before October 1, 2013 you become a Plan Participant on the first day of the contract year in which you have worked 500 hours. A contract year begins on October 1 of one year and ends on September 30 of the next.
What is employment
in the industry?
Employment in the industry refers to
employment for which contributions are required to be made to the
HRSA-ILA Pension Plan on your behalf while you are working for:
What if I work for
different employers? Back to Top
As long as you are working in the
industry for an employer who has signed one of the collective bargaining
agreements between the HRSA and the ILA, you will remain covered by the
Plan. However, if you go to work for an employer who has not signed one
of the agreements then hours worked for that employer will not be
covered by the Plan.
How are my
employment records kept?
All of the employers who "are signatory
to the Collective Bargaining Agreements" report hours worked by their
employees to the Administrative Office. These hours are recorded and
kept on file in the HRSA-ILA computer system.
Are Plan benefits
paid automatically if I retire?
No. You must fill out an application
form and file it with the Administrative Office of the Plan. Benefits
cannot begin until an application is received and the Board of Trustees
approves your application. The Plan is required by law, however, to
begin your benefits on April 1 in the calendar year following when you
reach age 72 even if you have not applied.
What day of the
month will I receive my monthly pension check?
Your monthly pension check is paid on
the first day of each month. If you have signed up for Direct Deposit,
your pension payment is electronically transmitted and is in your
account on the first business day of the month. If the first of the
month is a weekend or a holiday, you may have to wait until the first
business day of the month before your bank gives you access to the
funds. No checks will be issued before the first business day of the month.
Back to Top
What happens
if I become disabled after I stop working in the industry?
To be eligible for disability
retirement you must become disabled while you are actively
employed in the longshore industry and meet all other
requirements that are listed on page 39 of the Summary Plan Description.
If I
take early retirement, then return to employment, how
will my pension be
calculated when I retire the second time?
If you return to work,
your second retirement benefit will be exactly the same
benefit you received when you retired the first time
plus you will receive credit for any additional service
you have earned. You will receive credit for only the
additional years worked at the benefit rate in effect at
the time of your second retirement. For example, if you
retire with a monthly benefit of $1,000.00, return to work
for two full years, then retire for a second time in
2014, you will receive your original benefit of $1,000.00
plus credit for two more years.
Your new benefit will equal: $1,000.00 + $140.00
(2 x $70.00)=$1,140.00
Important Note: If you return to work in the industry and had elected the Lump Sum form of benefit when you retired,
you are required to repay the Lump Sum in full, plus interest. The Lump Sum option was discontinued on February 1, 2011.
Can a survivor benefit be paid from the Plan to someone
other than a spouse?
No. The Plan provides
for survivor benefits to your spouse if you have been
married for 12 full months before your death.
If you have further questions,
e-mail us at participant.services@hrsa-ila.com.
