{"id":553,"date":"2013-11-18T16:58:22","date_gmt":"2013-11-18T16:58:22","guid":{"rendered":"http:\/\/test.d9trusts.org\/?page_id=553"},"modified":"2013-11-25T10:26:24","modified_gmt":"2013-11-25T16:26:24","slug":"pension-faqs-frequently-asked-questions","status":"publish","type":"page","link":"https:\/\/d9wp.org\/?page_id=553","title":{"rendered":"Pension FAQ&#8217;s &#8211; Frequently Asked Questions"},"content":{"rendered":"<p><span style=\"font-size: x-large;\"><strong>Q.<\/strong><\/span>\u00a0\u00a0 <strong>How do I get my benefit started?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span>\u00a0\u00a0 Up to 90 days before your selected retirement date, you may call the District 9 Pension office and request that your benefit begin. It does <i>not<\/i> automatically begin when you retire from employment. You <i>must<\/i> contact the Pension office to start the retirement process. It\u2019s best to call before visiting the office. We are open Monday thru Friday; 9am \u2013 5pm. You may contact us at 314-739-6442 or toll-free at 888-739-6442.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 What should I bring with me?\/What documents will you need?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span>\u00a0\u00a0 Depending on the benefit option you choose, we may need all or a few of the following documents:<\/p>\n<ul>\n<ul>\n<li>Copy of your birth certificate<\/li>\n<li>Copy of spouse\u2019s birth certificate<\/li>\n<li>Copy of your marriage certificate<\/li>\n<li>Photo ID<\/li>\n<li>Voided check\/bank account info<\/li>\n<\/ul>\n<\/ul>\n<p>It\u2019s best to call beforehand &amp; we can tell you the exact documents needed. Contact us at 314-739-6442 or toll-free at 888-739-6442.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.\u00a0<\/span>\u00a0 How will my benefits be paid to me?\/How often?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 Your benefit will be paid by direct deposit on the first <i>business<\/i> day of the month, every month, for the remainder of your lifetime, if you are the participant.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Will you send me a paper check?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 No. Benefits are only payable through Direct Deposit. You must have an active checking or savings account.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How long will my benefit be payable to me?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.\u00a0<\/span><\/strong>\u00a0 As the participant, your monthly payment will continue for your lifetime.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How can I get 100% of my benefit?\/What is the Normal Retirement Age?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 Age 65 is considered by the Pension Trust to be the Normal Retirement Age, at which point you are eligible to receive 100% of your Accrued Benefit with no early retirement reductions. Please contact the Pension Trust for questions concerning your eligibility.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How early can I draw my benefit?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 The earliest you can draw your benefit is Age 55, <b><span style=\"text-decoration: underline;\">only<\/span> <\/b>if you have at least 10 years of Service Credit, but there are substantial early retirement reductions. You may be eligible to retire <i>before <\/i>Age 55 if you fall under the Rule of 85 (service years + age = 85 or more). With Rule of 85, depending on your eligibility, you may qualify for a lower early retirement reduction. Please contact our office to determine your eligibility.<\/p>\n<p>If you are disabled, you may be eligible to draw your benefit as early as Age 50, but there are requirements that must be met, and early retirement reductions also apply. Please contact the Pension office for questions concerning your early retirement eligibility.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 I\u2019m disabled \u2013 can I draw my benefit early?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 If you meet the following requirements, you may be eligible to start drawing your benefit before Age 55. You must:<\/p>\n<ul>\n<ul>\n<li>Be at least 50 years old,<\/li>\n<li>Have at least 5 full years of future service credit, and<\/li>\n<li>Be deemed disabled by the Social Security Administration while you are an active participant, or the following year.<\/li>\n<\/ul>\n<\/ul>\n<p>If you have been granted up to 12 months of extended medical coverage under the District 9 Welfare Trust, you cannot draw your benefit until the first month following the last Welfare payment due\/received for your disability.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 I\u2019m receiving Social Security \u2013 will this affect my benefit?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span>\u00a0\u00a0 No. Your benefit is based solely on the amount you have accrued through contributions from your employer. We do not ask you for proof of other income.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Can I receive this benefit while still working?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 In order to draw your benefit, you CANNOT be working <i>more than 40 hours per month, in the same trade or industry, union or non-union<\/i>. You may work full-time in a different trade or industry. If it is the same trade, it must be less than 40 hours\/month, and you must show proof of hours worked. Please contact our office for questions regarding your eligibility if you\u2019re working and you\u2019re not sure if your job qualifies as the same trade or industry. You may be asked to complete a questionnaire regarding your job duties &amp; it will be reviewed by our staff.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 What happens if I die BEFORE drawing my Pension?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span><i>\u00a0\u00a0 Effective 1-1-2011 the Plan no longer provides a pre-retirement <span style=\"text-decoration: underline;\">lump sum<\/span> death benefit.<\/i><\/p>\n<p>If you are married at the time of your death <i>and <\/i>vested in the Pension Plan, your surviving spouse would receive 50% of what your benefit would be had you retired the month following your death and elected a 50% Husband and Wife Pension. This would be a monthly, lifetime benefit for your spouse. We would request copies of both of your birth certificates, and a copy of your marriage certificate.<\/p>\n<p>If you are NOT married, there is NO benefit due <i>to anyone <\/i>at the time of your death.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Is there a Lump Sum Death Benefit?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong><i>\u00a0\u00a0 Only if the participant deceased prior to 2011.<\/i> Effective 1-1-2011 the Plan no longer provides a pre-retirement lump sum death benefit. If you decease before drawing your benefit and are married at the time of your death, only your surviving spouse may be eligible for a <i>monthly<\/i> benefit.<\/p>\n<p>If you are already drawing your Pension, the possibility of a benefit following your death is determined by the option you chose at the time of your retirement. Please contact our office if you are unsure of your option or the possible death benefits for your spouse\/family.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Is there a Life Insurance Policy available?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span>\u00a0\u00a0 No \u2013 Not in the Pension Plan. Only if you\u2019re an active member in the Welfare Trust. Contact the Welfare office for more information.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Can I receive my benefit as a Lump Sum instead of a monthly benefit?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 No. Your Pension benefit is only payable to the participant as a monthly benefit.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Can I roll-over my benefit into my IRA, 401k, etc?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 No. Your Pension benefit is only payable to the participant as a monthly benefit.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 Will my benefit be taxed?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.\u00a0<\/span><\/strong>\u00a0 Your benefit is considered a taxable income. When you begin drawing your benefit, you must complete a Tax Form W-4, and you choose your withholding. District 9 Pension only withholds for Federal taxes; we do not withhold for State taxes. You will receive a 1099 Tax Form every January for your taxes. Your withholding can be changed at any time.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How do I change my Tax Withholding?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\">A.<\/span>\u00a0\u00a0 A new Tax Form W-4 must be completed. You may call the Pension office to request an Address Change form, or print one from this website under <em>Pension<\/em> then <em>Forms<\/em> at the top of the page. Forms cannot be submitted online; you must complete the form and mail to our office.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How do I change my Address?<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 If you are receiving a benefit, all address changes must be in writing. You may call the Pension office to request an Address Change form, or print one from this website under <em>Pension<\/em> then <em>Forms<\/em> at the top of the page. Forms cannot be submitted online; you must complete the form and mail to our office.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How do I change my Beneficiary?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span>\u00a0\u00a0 All changes to your beneficiaries must be in writing. You may call the Pension office to request a Change of Beneficiary form, or print one from this website under <em>Pension<\/em> then <em>Forms<\/em>\u00a0at the top of the page. Forms cannot be submitted online; you must complete the form and mail to our office.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 What if my marital status has changed? (Recently married or divorced)<\/strong><\/p>\n<p><strong><span style=\"font-size: x-large;\">A.<\/span><\/strong>\u00a0\u00a0 Please contact our office to let us know of any changes to your marital status. You will need to complete a Change of Beneficiary form. All changes to your beneficiaries must be in writing. You may call the Pension office to request a Change of Beneficiary form, or you can print one from this website under <em>Pension<\/em> then <em>Forms<\/em>\u00a0at the top of the page. Forms cannot be submitted online; you must complete the form and mail to our office.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.\u00a0<\/span>\u00a0 My spouse has passed away. Should I let you know?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong>\u00a0<\/span>\u00a0 Yes \u2013 please contact the Pension Office as soon as possible. If you are still an active, working participant, you may wish to update your beneficiary information. If you are already receiving your Pension, the death of a spouse may affect your monthly benefit.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: x-large;\">Q.<\/span>\u00a0\u00a0 How do I change my Bank Account information for Direct Deposit?<\/strong><\/p>\n<p><span style=\"font-size: x-large;\"><strong>A.<\/strong><\/span>\u00a0\u00a0 All changes to your bank account information must be in writing. You may call the Pension office to request a Direct Deposit form, or you can print one from this website under <em>Pension<\/em> then <em>Forms<\/em>\u00a0at the top of the page. Forms cannot be submitted online; you must complete the form and mail to our office.<\/p>\n<p>Along with the Direct Deposit form, you must provide bank verification of your new account information. This includes: a voided check or savings deposit slip pre-printed with your name and address, and showing your account number &amp; routing number (\u201cStarter Checks\u201d for new accounts will not be accepted.) We will also accept a signed letter or verification from your bank stating that you are the account holder, the type of account, and the account number &amp; routing number.<\/p>\n<p>**To avoid payment disruptions, please have all bank account changes to our office by mid-month, and keep all accounts open until you know your benefit has been deposited in the correct account**<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q.\u00a0\u00a0 How do I get my benefit started? A.\u00a0\u00a0 Up to 90 days before your selected retirement date, you may call the District 9 Pension office and request that your benefit begin. It does not automatically begin when you retire from employment. You must contact the Pension office to start the retirement process. It\u2019s best [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-553","page","type-page","status-publish","hentry","entry"],"_links":{"self":[{"href":"https:\/\/d9wp.org\/index.php?rest_route=\/wp\/v2\/pages\/553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/d9wp.org\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/d9wp.org\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/d9wp.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/d9wp.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=553"}],"version-history":[{"count":21,"href":"https:\/\/d9wp.org\/index.php?rest_route=\/wp\/v2\/pages\/553\/revisions"}],"predecessor-version":[{"id":660,"href":"https:\/\/d9wp.org\/index.php?rest_route=\/wp\/v2\/pages\/553\/revisions\/660"}],"wp:attachment":[{"href":"https:\/\/d9wp.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}