Effective May 1, 2023, the ITPEU Pension Fund Office new address is:
ITPEU Pension Fund
67 Walnut Avenue, Suite 105
Clark, NJ 07066-1640
Telephone: 908-276-0800
Toll Free: 800-874-5977
Fax: 908-276-0810
You can now download the ITPEU Benefit Funds app on your Android or iPhone free of charge. Go to the Google Play Store or the App Store on your iPhone to download the App. The app gives you an easy way to check your benefits’ account, apply for benefits or get plan information on the app.
TRUSTEES OF ITPEU PENSION FUND REDUCE NUMBER OF HOURS OF SERVICE NEEDED TO VEST FOR BENEFITS FROM 600 HOURS TO 200 HOURS OF SERVICE
At a recent meeting of the Board of Trustees of the ITPEU Pension Fund, the Trustees adopted an Amendment, effective May 1, 2015, which brings about an important change in the amount of time necessary to become vested for benefits from the Fund. In order to become vested for benefits, an Employee must complete one “Year of Service” with an Employer who contributes to the Pension Fund. Under the newly adopted Amendment all Employees who have not vested for benefits before May 1, 2015 shall be deemed to have accumulated the required “Year of Service” if they have worked at least 200 hours of service in any period of twelve (12) consecutive months ending on or after May 1, 2015 on the annual anniversary date of their commencement of employment with a Contributing Employer. This is a substantial reduction in the vesting requirement from the current requirement of performing at least 600 hours of service in a 12 consecutive month period.
In light of this substantial reduction in the number of hours required to vest for benefits, there is no longer any need for special treatment of Employees employed on a “seasonal basis” and, accordingly, under the newly adopted Amendment all references to “seasonal employment” have been deleted from the Plan Document and Summary Plan Description.
These changes were brought about by the adoption of Amendment 2015-1 to the ITPEU Pension Plan Document and Amendment 2015-1 to the ITPEU Pension Plan Summary Plan Description. These Amendments can be viewed in their entirety by clicking the Amendments portion of the Fund’s Website.
CHANGE OF NAME OF FUND AND PLAN
Effective July 1, 2013, the Board of Trustees has amended all Plan Documents so as to change the name of the Fund and Plan to the ITPEU Pension Fund and ITPEU Pension Plan.
This change has been adopted by the Trustees in recognition of the Fact that the Union is now commonly referred to as the ITPEU. We have done our best to change each reference in this website from “ITPE” to “ITPEU”. Any remaining reference to “ITPE” should not be construed as affecting the name change. Please be assured that the change in name will in no way affect the operation of the Plan, which will continue to be administered in the same manner and fashion as before the name change.
REPEAL OF REQUIREMENT OF WITHDRAWAL FROM EMPLOYMENT IN CONNECTION WITH A SERVICE CONTRACT AS CONDITION OF BEING RETIRED
On July 10, 2013, the Trustees of the ITPEU Pension Plan took action which significantly affects and simplifies your eligibility for payment of benefits from the Fund. Specifically, the Trustees have retroactively repealed the requirement that a Participant be completely withdrawn from any employment in connection with a Service Contract in order to be considered “Retired”, and thus eligible for payment of benefits. As a result of this action, the modifications regarding your eligibility for payment of benefits can be summarized as follows:
1. That part of a prior Amendment to the ITPEU Pension Plan which required complete withdrawal from any employment in connection with a Service Contract in order to be considered “Retired” and eligible for payment of benefits, has been repealed retroactively back to September 30, 2011. This means that the definition of “Retired” reverts back to the simple requirement that you be withdrawn from employment covered by a Collective Bargaining Agreement between the Union and an Employer which requires contributions to the ITPEU Pension Fund in order to be considered “Retired”.
2. Any Participant who has been denied benefits in September 30, 2011, because he or she was still employed in connection with a Service Contract which was not covered by a collective Bargaining Agreement between ITPEU and an Employer which required contributions to the Fund, and who was otherwise eligible for payment of benefits, will be paid his or her benefits. The amount he or she will be paid will be the amount in their account at the time of the denial, plus their pro rata share of investment income earned between the time of denial and the time of payment of their benefits. It will not be necessary for such Participants to re-apply for benefits – only to verify their current address when contacted by the Fund Office. Such contact should take place shortly.
3. The 120 day waiting period in place in September 30, 2011, will remain in place, and will continue to be administered in the same manner as it has been since that date.
4. Going forward, applicants for benefits will no longer have to submit documentation that they are not currently employed in connection with a Service Contract, but will be Required to submit documentation that they are no longer employed pursuant to a Collective Bargaining Agreement between ITPEU and an Employer which requires contributions to the ITPEU Pension Fund.
WHAT TO DO IN EVENT OF INTERRUPTION OF WEBSITE SERVICE
We apologize for the recent interruptions in your ability to obtain access to this website. Hopefully the problem has been corrected and there will be no recurrence of same. However, in the event such an interruption recurs in the future, we suggest that you obtain access to the website by entering the website address in the search bar at the top of your computer screen, as opposed to using a search engine such as Google.
You may also check the status of your benefits and apply for certain benefits by going to erisafunds.com.
BENEFICIARY DESIGNATION
Under both Federal law and the ITPEU Pension Plan, your spouse is entitled to at least 50% of your Accumulated Share even if you designate other beneficiaries on your Beneficiary Card. Your spouse’s legal entitlement to at least 50% of your accumulated share applies regardless of whether you are separated or living with your spouse. Nonetheless, a number of participants seem to believe that if they list themselves as single on their Beneficiary Card – they can direct payment of their death benefit to beneficiaries other than their spouse. It is vital to the fair and proper administration of the Plan that correct information be provided on the Beneficiary Cards. If you have filled out a Beneficiary Card that fails to identify your spouse – even if you are separated – we urge you to complete and sign a revised card as soon as possible. Thank you for your anticipated cooperation.