You become eligible to participate in the pension plan when you complete 150 hours of service in a plan year (August 1-July 31).
Generally, collectively bargained active participants who have one or more hours of service on or after August 1, 1997, are fully vested after earning 5 years of vesting credit. Non-bargained participants generally become vested over a 6-year period.
Qualification for Pension
- Early Retirement: To receive an early retirement benefit, you must be at least 55 years of age and have nine years of vesting credit.
- The attainment of age sixty-five (65) with a vested interest and the Employee’s separation from Industry Service in California; or
- Late Retirement: Generally, you are eligible for a late retirement benefit if you work beyond your normal retirement date and are vested when you stop working in the roofing industry.
- Disability Benefit: To be eligible for a disability benefit you must work a certain number of hours during the plan year of your disability.