Pension Quick Guide | Employee Benefit Funds

This Quick Guide presents a brief introduction to your Pension Plan. For more detailed terms and conditions, you’ll need to read either the Pension Summary Plan Description or the Full Rules and Regulations.

Earning Your Pension
Eligibility	Generally, you’re eligible for this Pension Plan if you:
	Work in the New York City Hotel Industry as a member of a Union affiliated with the New York Hotel Trades Council
	And work for an employer, and in a job category, that contributes to this Pension Fund.
Becoming an Active Participant	Before you can earn Pension Credits and Years of Vesting Service, you must complete 1,000 hours of Covered Employment within a 12-consecutive-month period. (See related requirements for banquet waiters and checkroom or washroom attendants.)
Earning Pension Credits	Your Pension amount will be based on the number of Pension Credits you’ve earned over your career. These credits are awarded based on your hours in Covered Employment, up to 1 Pension Credit per calendar year.
Becoming Vested	You attain Vested status once you’ve earned five Pension Credits (if you leave Covered Employment on or after January 1st, 1999). Once you are Vested, you have a permanent right to your Pension upon reaching retirement age.
Breaks in Service	If you leave Covered Employment for a calendar year or more before you’ve become Vested, you may lose your previously earned Pension Credits, Years of Vesting Service, and Active Participation status.
Applying for Your Pension	You should file a Pension Application as soon as you decide on your intended retirement date. Pensions are not paid automatically unless you notify the Fund Office of your intention to retire or to collect your pension.
Health Coverage After Retirement	Continuing any form of health coverage with the New York Hotel Trades Council & Hotel Association of New York City, Inc. Health Benefits Fund requires immediate action on your part upon leaving Covered Employment. We strongly recommend that you contact the Employee Benefit Funds Office at (212) 586-6400 for more information.

Pension Benefit Types

For full benefit eligibility details, read the Pension Types sections.

Pension Types	Eligibility Requirements	Benefit Summary
For all Pension types, you must be Vested.
1.) Regular Pension	Age 65 or Older	Regular Pension determined by Pension Credits times the rate
		in effect on last day of Covered Employment.

2.) Early	Age 62 or Older	Regular Pension reduced by 5/9th of 1% for each month that you are
Retirement Pension		younger than 65.

3.) Disability	Are Totally Disabled	Calculated in the same way as your Regular Pension, based on the number
Pension	Have not reached age 65	of Pension Credits you have earned at the time you become Totally Disabled.
	Have at least 10 years	There is no reduction based on your age.
	of Vesting Service
	Have at least 500 hours of Covered Employment between the calendar year you became Totally Disabled and the previous calendar year

4.) Age & Service	Work until at least age 55	Pension amount is calculated on 25 Pension Credits even if you've
	Have at least 25	earned more.
	Pension Credits
	Have 1,000 hours of Covered Employment in Calendar Year immediately before the year of your Pension Effective Date.

5.) Mandatory Pension	Age 72 or Older	The Plan requires that you begin receiving your pension benefit by the
(Required Minimum		April 1st following the calendar year you reach 72 years of age.
Distribution)

6.) In-Service	Age 70 1/2	You may receive your pension while still working under
Pension	Actively Working in	covered employment starting the month after you reach 70 1/2.
	Hotel Industry.

7.) Reciprocal	Only available if you	Helps a member receive a Pension if his or her employment was split
Pension	would not qualify for a	between Related Plans.
	Pension without combining Pension Credits from work covered by a Related Plan.