What is Your Pension Option?

Posted February 14, 2022

Pension Schedule Option Survey

  • As you all know the pension is going through some changes that effect many aspects of the plan. Effective January 1, 2022, we have entered into a rehabilitation plan which gives participates three schedules to choose from. It is important that we decide which schedule is best for us. Below is a brief description of the 3 schedules and a link to a survey that will give me a general idea of what the members want. Please take the time to read these options and take the survey. As always, give me a call if you have any questions.
  • Default schedule: All participates will automatically be put in this schedule unless they elect to participate in Alt 1 or Alt 2. This schedule will have a base accrual rate of .85% and would allow members with 60,000 hours or more to take the special early retirement at age 58
  • Alternate 1: If selected, this schedule would require an addition hourly contribution to the fund of $1.63 and would lower the special early retirement age from 58 to 55 with 60,000 hours.
  • Alternate 2: If selected this schedule would require an additional hourly contribution to the fund of $3.25 and will have the special early retirement age of 55 at 60,000 hours and a more generous base accrual rate.
  • Survey: This link is just to start collecting data so we can gather as much information as possible. Any decision on which schedule we will select will be done by a vote of the membership. 
    CLICK HERE TO TAKE THE SURVEY

Regards,

Daniel Lincoln
Southern Nevada Regional Director
Business Representative Glaziers Local 2001
Mobile: (702) 688-0653

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