Earning Pension Credits

Your Pension Credits determine the amount of your pension benefit. Pension Credits are calculated in one of three ways, depending on when your work in Covered Employment was completed.

Before January 1, 1950

Special rules apply for Pension Credits earned for work before January 1, 1950. For more information, please contact the Fund Office.

Between January 1, 1950 and January 1, 1990

Please note: If you work one or more hours in the Sheet Metal Industry in Employment that is not covered by a Collective Bargaining Agreement between the Employer and the Union at any time after December 31, 1989, you will lose all Pension Credit for Employment received before the Contribution Period for the purpose of calculating your benefit amount. However, any loss of Pension Credit will not decrease your accrued normal retirement benefit to an amount less than your benefit as of December 31, 1989

For service completed between January 1, 1950 and January 1, 1990, you will receive 1/4 of a Pension Credit for each calendar quarter in which you had at least 133 hours of work in Covered Employment for which Employer contributions were required to be paid to the Fund. You will receive a full Pension Credit if you worked at least 532 hours in a Calendar Year and contributions were required to be paid to the Fund for that work.

January 1, 1990 or Later

For work beginning January 1, 1990 and after, you will receive 1/12 of a Pension Credit for each 100 hours of work in a Calendar Year in Covered Employment for which Employer contributions are required
to be paid to the Fund, to a maximum of one Pension Credit. You cannot earn more than one Pension Credit in a Calendar Year. Hours over 1,200 cannot be carried over to future years. However, the Plan
does provide Special Service Credits (see Special Service Credits for more information).

Special Circumstances

You will continue to receive Pension Credit during periods in which contributions were not required to be paid to the Plan if you are absent from Covered Employment due to:

The Contribution Period is the period during which an Employer is required, in accordance with a collective bargaining agreement or other written agreement, to make contributions to the Fund for work in Covered Employment.

• Disability. If you have prior Pension Credit based on work during the Contribution Period and you become disabled, you will be granted non-work Pension Credit for the period of time you receive either Workers’ Compensation benefits (to a maximum of 2.00 Pension Credits for each such disability) or weekly accident and sickness benefits from the Sheet Metal Workers’ Local 73 Welfare Fund (to a maximum of 1¼ Pension Credits for each such disability). One week of weekly accident and sickness benefits or Workers’ Compensation benefits equals 40 hours of work in Covered Employment.
  
  You or your employer must provide acceptable documentation of Workers’ Compensation benefits to the Fund Office in a timely manner to receive this credit. Please contact the Fund Office for more information on acceptable forms of documentation.
  
  
• Military Service. You will be granted Pension Credit for certain periods of qualified military service in the Uniformed Services of the United States (up to the maximum permitted by federal law) if you:
  
  – Worked and earned Pension Credit during the Contribution Period immediately prior to active duty in qualified military service, and
  
  – Return to or seek work in Covered Employment within the time required by federal law.

For more information on credit for military service, please contact the Fund Office.

Other Service

You may also receive Pension Credit for other service as follows:

– While a full-time elected officer or elected Employee of the Union or the Sheet Metal Workers’ International Association, provided contributions are made to the Pension Fund.

– While a full-time Joint Apprenticeship Committee Coordinator (including full-time teachers), provided contributions are made to the Pension Fund.

– While a full-time representative of the Energy Management Institute of Illinois.