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Northern Illinois Pension Fund

Contact the Benefits Office

Your Defined Benefit Plan

Normal retirement age is 62.  You may retire early if you are at least 57 and have 5 years of vested service.  If you begin your pension early, it is reduced because it will be paid over a longer time.  It is reduced further if you elect a Joint and Survivor Benefit.  If you earn at least 1 vesting credit after 6/30/2000 and you retire for the first time on or after 6/30/2001, the reduction for early payment will be based on the number of months between the date payment commences and age 60.

Vesting service determines whether you are eligible to receive a pension benefit.  You earn 1 vesting credit for each plan year that you work 400 hours; a plan year is July 1 through June 30.  When you have 5 years of vested service you are 100% vested.

The automatic payment form for a single person is the 5-Year Certain and Life Annuity.  For a married participant, it is the 75% Joint and Survivor Annuity.  Other payment forms available are the 100% Joint and Survivor Annuity and the 75% or 100% Joint and Survivor Annuity with Pop-Up.  The election of a Joint and Survivor form of payment will reduce your benefit because it is covering two (2) lives.

SAMPLE PENSION PLAN CALCULATIONS

Hours: 2,080 1,500 1,000
x    $3.45 x   $3.45 x   $3.45
Contributions: $7,176.00 $5,175.00 $3,450.00
Multiplier: x   .0425 x   .0425 x   .0425
Earned Benefit: $304.98 $219.94 $146.63
Years: x   10 x   10 x   10
Monthly Benefit: $3,049.80 $2,199.38 $1,466.25

*As always, the Plan Documents and Amendments supercede any other documents or any of the information listed above and can be changed by the Board of Trustees at any time without any prior notice.

MEET THE STAFF

Robert E. Niksa Administrative Manager
Joan Kitrys Retirement Funds Representative
Cindy Ellsworth Administrative Assistant
Patty Gruber General File Clerk
Tracey Glassford Accounts Receivable Specialist
Teresa DeJong Fund Accountant



Announcements
Jun 28, 2013

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Pension Funding Notice 

IRS Determination Letter

Funding Improvement Plan


FAQ's
Jun 08, 2010

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1.  Who controls how my Pension Fund money is invested? 
The Northern Illinois Pension Fund is administered by the Board of Trustees. Professional Investment Managers make investment decisions in compliance with investment guidelines established by the Board of Trustees.
 
2.   Can I borrow from my Pension Fund? 
No. There are no hardship distributions and you cannot borrow against your Pension Fund.
 
 3.   How often are my Pension Fund statements sent out? 
The Northern Illinois Pension Fund sends out yearly Pension Fund Benefit Statements in late summer or early fall. 
 
4.    How old do I have to be to receive my Pension benefits? 
Normal retirement age is 62. The Plan provides for an early retirement at age 57 but you do take a 6% reduction for every year before 60 you retire. There is an amendment that provides for an early retirement at age 60 without a reduction in your benefit amount that is explained in your SPD. Be aware that you must first be fully vested to receive this benefit. 
 
5.   Who do I contact if my Pension statement reflects the wrong hours or dollars?
Please contact the Fund Office at (630) 978-4600.
 
6.    Where can I get copies of my marriage license or birth certificates?
Certified copies of marriage or birth records are available from the county clerk in the county where the marriage or birth occurred.  Visit Illinois's website at http://www.idph.state.il.us/ .
 
7.  Can I get a copy of my discharge papers?
The Department of Veterans Affairs does not maintain records of veterans military service, except as is necessary for providing benefits. For information about obtaining your military record, please visit the Military Personnel Records Center in St. Louis, which is part of the National Archives and Records Administration. Also, please see "Requests for Veterans' Military Information" at www.archives.gov/facilities/mo/st_louis/military_personnel_records/standard_form_180.html
 
That page gives instructions in submitting a SF 180 Request Pertaining to Military Records. Your questions may also be sent to: National Personnel Records Center Military Personnel Records Center 9700 Page Boulevard St. Louis, MO 63132-5100

Forms
Jun 18, 2013

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Pension Fund Forms

See below for the forms available for download:


Overview of Forms of Payment
Jun 08, 2010
 
 
Automatic Forms of Payment
Unless you elect a different form of payment, the Plan provides for the following "automatic" forms of distribution:
 
Unmarried Participant:    Under the Northern Illinois Pension Plan, as an unmarried participant, your pension benefit will be paid as a Five-Year Certain and Life Annuity.  A monthly benefit will be paid for your lifetime.
 
Married Participant:    As a married participant, your retirement benefit will be paid as a Joint and 75% Survivor benefit.  A "Joint and 75% Survivor" benefit is a monthly benefit paid for your lifetime and in the event of your death, 75% will continue to your spouse.          
                    
Optional Forms of Payment
 
Five-Year Certain and Life:    This benefit is a monthly pension payable for the life of the retired participant with a guarantee of 60 monthly payments.  If the participant dies before the minimum number of payments are made, monthly payments shall continue to his/her beneficiary until the total payments made to the participant and his/her beneficiary equal the guaranteed minimum number of payments.
 
Joint and Survivor Annuity:    A reduced monthly pension for the life of the Participant with a Survivor benefit for the life of the survivor, equal to 50%, 75% or 100% of the amount payable during the life of the participant.  No survivor benefit shall be paid if the survivor does not survive the Participant.
 
Joint and Survivor Annuity with Pop-Up Feature:    A monthly pension for the life of the participant with a Survivor benefit for the life of the survivor, equal to 75% or 100% of the amount payable during the life of the participant.  If the participant's spouse predeceases the participant, the monthly benefit payable to the participant will increase to the benefit amount before the adjustment for the survivor benefit.

Summary Plan Description
Oct 08, 2010

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Summary Plan Description


Trustees
Jul 22, 2013

Employer Trustees

Labor Trustees

Lori Abbott - Chairperson
Abbott Industries
Thomas E. Andrews - Secretary
Pipefitters Local 597

Richard Browning                             Arrow Plumbing & Heating, Inc.

Tim Doerr
Plumbers Local 130

Chris LaVoie                                    Capitol Mechanical, Inc.

Paul Hinterlong                                        Plumbers Local 130

Dan Mahoney                          Mahoney Plumbing, Inc.

Kevin Morrissey                                     Pipefitters Local 597

S.J. Peters                          P.A.M.C.A.N.I. Scott Roscoe
Pipefitters Local 597
Martin Schulz                             Premier Mechanical Kenneth Turnquist                                    Plumbers Local 130

 Contact the Benefits Office 


Updates
Jun 18, 2013

 Contact the Benefits Office

As always, the Plan Documents and Amendments supercede any other documents or any of the information listed above and can be changed by the Board of Trustees at any time without any prior notice.




Page Last Updated: Jun 28, 2013 (07:10:00)
April 17, 2014
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