Question about pension payments?

I am in the iupat union and we have a pension plan. My question is basically two-fold. 1. Can a person 'retire' with, say, only ten years of service? 2.And, if so, will they be eligible to receive a pension payment (obviously it would be smaller)? Or do you need to work thirty years or whatever before you are eligible for retirement and pension payments?

Steve D2008-12-17T19:25:24Z

Favorite Answer

Check the contract you signed and then check the summary plan description. All the terms will be spelled out there. Some pensions vest at 5 years and you can retire but not draw until a certain age (say 55), some allow you to draw immediately, but with a substantial discount.

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