This modeling tool assumes that you are on the preferred schedule of the rehabilitation plan.

• What is a normal retirement benefit? It’s the sum of the Traditional Benefit and SIP Benefit, payable monthly for your lifetime when you retire. The amounts shown on your statement is what you have earned so far and are payable starting at your normal retirement age. Your actual benefit will be adjusted depending on the form you elect and if you retire early.
• What is my normal retirement age? It’s the age the retirement plan uses to calculate your benefit.
  • For benefits earned before July 1, 2011, it’s age 57.
  • For benefits earned on or after July 1, 2011, it’s age 65.
• How early can I begin my benefits? You can start your benefits as early as age 50 after earning 5 years of credited service.
• If I retire early (before my normal retirement age), will my benefits be reduced? Early retirement benefits usually are reduced to reflect the longer expected payment period. However, early retirement benefits will NOT be reduced if you:
  • Retire at age 57 or later and have 30,000 Total Hours Worked and 3,500 Total Hours Worked in the 5 year period ending with your year of retirement or the 5 year period ending the year before your retirement.
• If I retire late (after my normal retirement age), will my benefit be adjusted? Yes, in certain cases your benefit would be increased to reflect the shorter expected payment period. Please note, benefit adjustments for late retirement are not reflected in this modeling tool. Please contact the Trust administration office if you have questions about this situation.

If you have questions about the Plan’s retirement rules, please consult your Summary Plan Description or contact the Trust administration office. The result obtained using this model is an estimate based on the inputs you entered. Your actual retirement benefit will be determined by the rules of the Plan and calculated by the Trust administration office at the time of your retirement. Before making any retirement decisions, you should discuss your specific situation with the Trust administration office.

We used the following assumptions, which are for illustration only:

• If not already vested, you are assumed to be vested in both the traditional benefit and the new sustainable income plan (SIP) benefit when you retire. You must be vested to receive retirement benefits. You must earn 5 years of credited service under the Plan to be vested.
• Your estimated contribution rate for future hours worked depends on your collective bargaining agreement. To the extent the actual rate contributed is different, your benefits at retirement will be different. Actual benefits will depend on actual hours worked, actual hourly contribution rate, and actual plan investment returns.

To create the patterns of returns based on historical returns between 1927 and 1993, we assumed the funds are invested in a 50% stock / 50% bond mix, using:

• Stocks – the S+P 500 Index
• Bonds – the Long Term Corporate Bond Total Return from the Ibbotson SSBI Yearbook

From 1994 to 2020, the Plan's actual investment returns are used.
If the projection goes beyond the 2020 historic returns, we used a 6% rate of return.