Temporary Return to Work Amendment
NOTICE TO ALL RETIREES RECEIVING A NORMAL OR EARLY RETIREMENT PENSION BENEFIT CONCERNING A TEMPORARY RETURN TO WORK AMENDMENT TO THE PENSION PLAN
December 30, 2021
The Trustees of the N.E.C.A. Local No. 145 I.B.E.W. Pension Fund recently approved a new temporary Return to Work Amendment No. 2 to the Plan Document and Summary Plan Description that permits certain eligible Retirees to return to covered and contributory employment for a period of time without loss of Pension benefits from this Fund. Please read the following notice carefully since this Amendment does not apply to all Retirees or to all electrical employment.
As you are aware, the rules of the Plan generally provide for a suspension of benefits for a Retiree who returns to covered employment in the electrical industry with differing restrictions based upon the Retiree’s age. This temporary Return to Work Amendment No. 2 changes the time period allowed for certain eligible Retirees. Following are the features of the Amendment:
- The temporary Amendment No. 2 is effective from January 1, 2022 through December 31, 2022.
- All Regular and Early Retirees collecting a pension benefit will be permitted to return to covered employment only (employment covered under the terms of the Collective Bargaining Agreement for which fringe benefit contributions are required) and will be permitted to work for up to 600 hours during the above period without a loss of your local pension benefits. You will receive contributions to your Annuity and Profit Sharing Plan and contributions to the Health and Welfare Plan will be used to offset any self-contribution you make to continue coverage under the health plan. You will NOT be eligible to receive additional pension credits.
- Once you have worked 600 hours in covered employment during the term of this Temporary Amendment No. 2, you no longer will be able to take advantage of this Amendment and the normal Suspension of Benefits rules will apply.
- If you retired with a Disability Pension, you are not eligible to work under the terms of this Temporary Amendment No. 2.
- Only Retirees who return to IBEW Local 145 covered employment are eligible to take advantage of this Amendment. It does not apply to persons who work for employers where no contributions to local benefit funds are required, or to persons who work for non-covered employers in the electrical industry.