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RETURNING TO WORK AFTER RETIREMENT

Benefit Suspension

Your pension benefit will be suspended if you:
  • Do any work in Disqualified Employment before your Normal Retirement Age; or
  • Work 40 or more hours in a month in Disqualified Employment from your Normal Retirement Age to age 70. 
Suspension of Benefits

If you return to work in Disqualifying Employment after you are receiving a pension from the Plan, your benefits will be suspended for each month you work. The type of Disqualifying Employment that would cause your benefits to be suspended varies based on your age. 

You should check with the Pension Department of the Fund Office before beginning any employment after you begin receiving pension payments to see if such employment would cause your benefits to be suspended.

You must notify the Board of Trustees when your Disqualifying Employment
ends to begin receiving pension benefits again. If you return to work in Covered Employment and earn additional Pension or Bonus Credits, your pension benefit will be recalculated when you retire again. 

If you return to work in Disqualifying Employment, your coverage (if any) under the Laborers’ Welfare Retiree Medical Plan may also be affected. Please consult the Retiree Medical Plan Summary Plan Description or contact the Laborers’ Welfare Fund for any questions you may have regarding your retiree health coverage. 

Before Normal Retirement Age (Generally Age 65)

Before reaching Normal Retirement Age, your benefits will be suspended for any month you work in Disqualifying Employment. This includes:

There is no limit to the geographic area in which this employment would be Disqualifying Employment if performed before Normal Retirement Age.

After Normal Retirement Age (Generally Age 65)

After reaching Normal Retirement Age and before reaching age 70, your pension benefits will be suspended for any month in which you work or are paid for at least 40 hours of Disqualifying Employment. This means employment or self-employment (including paid non-work time such as vacation or holidays):

After Age 70

Once you reach age 70, you may work more than 40 hours a month and still be entitled to receive your pension benefits.

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Recalculation of Pension Following Second Retirement

If you return to work after you have begun receiving pension benefits, when you later retire your pension will be recalculated to take into account the additional Pension and Bonus Credits you earned. However, if you were at least age 50 and retired on an Early Pension when you first retired, your pension recalculation will take into account all of the pension payments you received during your earlier retirement. If you retired on an unreduced Regular Pension when you first retired, your pension recalculation will only take into account all the pension payments received after June 1, 2001. In other words, the additional amount you earn will be reduced by the Actuarial Equivalent value of the amount you already received.

The recalculated pension is paid based on the form of payment you were receiving before the suspension of benefits. If you earn additional accrued benefits before attaining Normal Retirement Age, you may make a new election on the form of payment for your additional accrued benefits.