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Summary Plan Description
WORKING AFTER RETIREMENT - SUSPENSION OF BENEFITS (SECTION 7.08)
You are expected to retire from the Sprinkler Industry and from any other industry covered by the Plan in order to receive a pension from the Plan. Working in other industries not covered by the Plan, regardless of the number of hours or how much you earn, will not affect your pension benefits unless you continue to work in employment for which contributions are made to the NASI Pension Fund.
If you are retired, are under 65 years of age, and begin working in a job which is considered Disqualifying Employment for that period, your pension benefit will be suspended for each month you work, plus an additional five (5) months. If you do not notify the Fund Office within twenty-one (21) days of the date you begin disqualifying work, your pension will be suspended for an additional six (6) months, making a total of eleven (11) additional months. Effective June 1, 2006, the five-month suspension mentioned above will be waived if you notified the Plan of your return to work within twenty-one days of the date you began disqualifying work. This waiver of the five-month suspension period is only good the first time you return to work and re-retire after June 1, 2006. If you miss the twenty-one day deadline for notifying the Pension Fund of your return to work and you are subject to the additional six-month suspension, you do not qualify for waiver of the suspension for the first five months after your re-retirement.
If you are past your 65th birthday, you may not perform any work in the United States of the type which is covered by this Plan; that is, work as a sprinkler fitter in the construction industry (or any other industry covered by this plan when you became a pensioner). You may not work as an employee or be self-employed in union or non-union employment as a sprinkler fitter in the construction industry (or any other industry covered by this plan when you became a pensioner) for forty (40) or more hours in a month for which you receive a pension. This is “Disqualifying Employment for periods once you are 65 years of age. Work for less than Forty (40) hours a month is permitted. (Please note, however, that benefits under the NASI Welfare Fund will be suspended for any hours of such work. The NASI Welfare Plan rules should be consulted for a full description of the consequences of returning to work.) The rule also applies to employees who do not retire, but continue to work past age 65. (Section 7.08(b))
If you are retired,
As a retiree, you may be asked to periodically sign a statement affirming that you are not working in Disqualifying Employment, or to provide the Fund Office with a complete copy of your Federal Income Tax Return. The Fund will, of course, receive work information if you return to work covered by this Plan. If there is evidence from any source that you are engaged in Disqualifying Employment, or if you refuse to provide the Fund with requested information, the Trustees may suspend your pension. Any errors made in this regard will be corrected as soon as you provide satisfactory information about your actual employment.
If your pension is suspended for months for which you have already received a pension benefit payment, the amount you owe the Fund will be deducted from your pension when it starts again until the debt is paid in full. However, after you have reached Normal Retirement Age, no more than 25% of your pension check will be deducted (except for the first check following suspension, which may be offset entirely by deductions).
If you return to Covered Employment and earn at least one (1) year of Vesting Service, you will be entitled, upon your return to retirement, to a recalculation of your pension amount, based on your age when benefits resume. Any reduction for an Early Retirement made when you first retired will be adjusted for months during which your benefit was suspended, and/or for which you have already received benefits. (See page XX.)
If you stop working in Disqualifying Employment and want to retire again, you must notify the Fund Office, in writing, of the date you last worked in such employment. Your first check upon resumption of benefits will contain the full monthly amount owed to you, less any amounts which are owed to the Fund, as previously described.
If you receive a notification of suspension which you believe is in error, you may make a written request that the Trustees review the suspension. Your request must be made within 180 days after you are notified of the suspension. You may request the Trustee to consider in advance whether employment you are planning will result in the suspension of your benefit. Such a request must be made in writing.
Employment that might be considered work within the sprinkler, plumbing or pipefitting industry that has been determined to not be Disqualifying Employment includes the following:
Suspension of benefit rules are subject to Department of Labor Regulation § 2530.203-3 of the Code of Federal Regulations, Title 29.