FREQUENTLY ASKED QUESTIONS (FAQS)

Can I make additional Contributions to the Trust over and above the amount negotiated in the Collective Bargaining Agreement?

No.  All contributions are made by Participating Employers on behalf of their employees as a group contribution negotiated by your union.  No covered employee is required nor is any covered employee permitted to make a contribution to the Pension Trust.

How do I know my employer is contributing the right amount on my behalf?

You will receive an accrued benefit letter every year from the Steelworkers Pension Trust that tells you how much your employer contributed on your behalf in the prior year.  You should keep track of the number of hours for which your employer should be making contributions on your behalf, so that you can calculate the correct amount of contributions for the year.  If, when you get your letter from the Trust (around mid year), the amount contributed does not match the amount that you calculated, you should contact us at 412-482-1876 or toll-free at 877-529-8980 to get it resolved.  The Trust also audits the employer periodically.

What happens to my pension if my employer goes out of business?

If you are vested, you are still owed a benefit from the Steelworkers Pension Trust, even if your employer is no longer in existence.  You will have the option of taking that benefit at the reduced rate when you reach earliest retirement age (55), or waiting to a later date.  For each month that you wait beyond age 55 there is less of a reduction.

Can I borrow from or withdraw my benefit?

The benefit you accumulate is a retirement benefit. You cannot withdraw any funds until you reach retirement age and qualify for a benefit.

How much pension am I due?

An accrued benefit letter is sent each year to every covered employee.  The actual calculation of a pension benefit is not done until an application for pension is received; then, a listing of all optional forms of pension is sent to the applicant for review and selection.

Do I qualify under Rule of 85?  If not, when will I be eligible for Rule of 85?

When your total covered years of service PLUS your age adds up to 85, and you have a minimum of 10 months of contributions paid on your covered earnings in the last 24 months of your covered service, you then meet the eligibility requirement for Rule of 85. If you are unsure of your covered years of service, contact the Steelworkers Pension Trust at 412-482-1876 or toll-free at 877-529-8980 for a determination of eligibility.

How do I apply for my pension?

Contact the Steelworkers Pension Trust at 412-482-1876 or toll-free at 877-529-8980. You should always have your Social Security number and your Local Union number available.

I need help filling out the application package.

Contact the Steelworkers Pension Trust at 412-482-1876 or toll-free at 877-529-8980.

How much time do I have in for my pension?

Contact the Steelworkers Pension Trust at 412-482-1876 or toll-free at 877-529-8980 to ask for a statement of your service and earnings.

Why should I take my pension early; if I wait until I’m 65, I’ll get a full benefit.

If you apply for payment of your pension at age 55, the benefit will be reduced for early retirement. If you wait until age 65, there will be no early retirement reduction, but you will have missed out on 10 years of benefit payments.

When was my check mailed? I did not receive it yet.

The payment date is the first of every month.  Payments are mailed approximately 5 business days prior to the payment date.  A calendar of payment dates can be found here.  The date you receive your check depends on the U.S. Post Office.

This is the second month I received a check, but I signed up for direct deposit.

It takes up to 60 days to set up a direct deposit. If a third check is received, there could have been a problem between our Accounting Department and the bank’s Accounting Department.  Contact us at 412-482-1876 or toll-free at 877-529-8980 and we will then contact the bank and try to resolve the matter.

What day will my pension be deposited to my bank account?

A calendar of direct deposit dates is mailed to the retiree.

I moved…or…The Post Office has changed my address. Do I need to tell you?

Yes.  We require a written change of address notification, signed by the retiree.

I changed banks…changed account at same bank…changed type of account from savings to checking. What should I do?

Use the direct deposit form.

Retiree has passed away…What should I do with the check?

Call us at 412-482-1876 or toll-free at 877-529-8980 and leave your name, telephone number, the deceased’s name & Social Security number & death date.  Our staff will contact you with instructions.

Retiree is now in nursing home…I have Power of Attorney…What should I do?

We need a copy of the Power of Attorney along with the address change signed by the retiree; if the retiree is unable to sign, the person with the Power of Attorney should sign the address change form.

Retiree returned to work…Am I still eligible for pension?

Contact us at 412-482-1876 or toll-free at 877-529-8980; we will review working requirements and determine eligibility for payment.

Normal – On your last day of covered employment.

Vested – Approximately 1 month prior to reaching age 55.

The normal processing of an application takes 45-60 days from the time we receive your final contribution from your employer.

The Pension Trust does not notify you when you reach age 55. It is your responsibility to keep the Pension Trust advised of your current address so that we may contact you with any changes in the Pension Trust.

All contributions are made by Participating Employers on behalf of their employees as a group contribution.  No covered employee is required nor is any covered employee permitted to make a contribution to the Pension Trust. The money withheld from your check each month is most likely Local Union dues.